The Bull Case For Polkadot
Theres certainly reason to believe Polkadot has significant growth potential at these levels. This cryptocurrency has garnered a tremendous amount of attention since its DOT tokens began trading publicly in 2020. However, Polkadot is also a token thats been highly valued since its inception.
Much of this is related to the networks impressive growth. Polkadots revolutionary parachain technology is the key driver of this growth. These parachains allow for impressive scalability within the Ethereum network via essentially providing additional lanes to a congested highway. These parallel blockchains allow for developers to utilize their own independent blockchain that is compatible with Ethereum, providing faster finality times and lower fees.
These lower fees are the key to Polkadots success. As a groundbreaking base upon which most of DeFi is built, Ethereum is incredible. However, from an actual transaction perspective, this network is basically useless. No user will want to pay gas fees of $200 to make a $20 transaction. This is where Polkadot comes in.
As the DeFi space continues to grow and developers look for scaling solutions, Polkadot will continue to be in high demand.
Exchange Ethereum For Polkadot
The moment you get notified of your transaction and your account balance shows the arrival of Ethereum, you will be ready to trade Ethereum for Polkadot.
Visit the Exchange from the top menu.
For this step, we will assume you deposited ETH. If you deposited BTC, dont worry â the process is exactly the same.
On the top right corner, choose ETH and search for DOT. The DOT/ETH trading pair should appear.
There are two ways you can buy coins:
âLimitâ order option: you can to set the price at which you want to buy DOT.
âMarketâ option: fills out your order at the best price automatically.
If you want to buy DOT when it reaches a certain price, use the Limit order. Enter the price you desire and the amount of DOT you want to purchase, then click the Buy DOT button.
Tip: If you deposited a good amount of coins, try to not purchase your DOT all at once â instead, you should buy it at different price levels. The strategy is known as unit cost averaging.
If you want to buy DOT at the latest price, click on the tab, then enter the amount of DOT you want to buy. The order should be done almost instantly and the coins will be added to your Binance balance soon.
You are now a proud investor in Polkadot !
Buy Polkadot With Credit Card Or Debit Card
Wondering how to buy Polkadot coin with a credit or debit card? If so, all of the platforms that we reviewed today namely eToro, Crypto.com, Binance, and Coinbase support this payment method.
Although the aforementioned platforms are the same in terms of requiring you to upload some ID as well as supporting instant payments, it is fees that will vary from across each provider.
- Binance charges 4.5%, plus 0.5%
- Crypto.com charges 2.99% after 30 days of opening an account
- eToro charges 0% on USD deposits
As you can see from the above, depending on your chosen platform, you can pay anywhere between 0% and 4% when choosing to buy Polkadot with a credit or debit card.
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Managing Your Crypto Assets In A Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Polkadot We recommend you to use hardware wallet which support many cryptocurrencies Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
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What Makes Polkadot Unique
Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel . This parallel processing power improves scalability.
Custom blockchains are quick and easy to develop using the Substrate framework and Substrate blockchains are designed to be easy to connect to Polkadot’s network. The network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs.
The network has a highly sophisticated user-driven governance system where all token holders have a vote in how the network is run. Teams can customize their own blockchains governance on Polkadot based on their needs and evolving conditions. Nominators, validators, and collators all fulfil various duties to help secure and maintain the network and eradicate bad behavior.
How And Where To Buy Polkadot
Buying Polkadot has become relatively easy. It can simply be done by PayPal, card, or even cash.
This is a small guide weâve made to make your job easier. So if you are interested in buying Polkadot , read it till the end.
Though people always say that buying cryptocurrencies from your debit or credit card is difficult, it is not.
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Where To Buy Polkadot Crypto Best Platforms And Tips
Your guide to buying Polkadot in 2022! Learn where to buy Polkadot crypto and how to make the most with the best rates and secure solutions from CoinLoan.
Where to Buy Polkadot Crypto in 2022
Polkadot’s token is one of the hottest crypto assets. This innovative application takes cross-chain operations to an unprecedented level, as it solves one of the biggest problems the lack of interoperability. Should you invest in DOT today, and how? Read on to find out.
What Do Most People Do After Buying Polkadot
Users commonly trade DOT for stable coins, such as USDC and BUSD. They can also hold on to their assets or use them to pay for goods and services. Crypto loans with DOT as collateral are also increasingly popular. Considering the token’s impressive growth since launch, keep in mind that hodling makes sense. But still, you will benefit more from deposits. Interest accounts let you earn compound interest in addition to the DOT’s growth.
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How Much Money Do I Need To Buy Dot
The amount of money you need to need to buy DOT will depend on the minimum balance requirements associated with your platform, however, in general, it can be as low as $100.
About Nishit KumarAbout Nishit Kumar
I’m a second year Accounting and Finance student at the University of Warwick, in addition to being an incoming Trading Analyst at Morgan Stanley. I’m passionate about the financial markets and all things finance.
How Does It Work
Now that we know a little more about Polkadot, let’s take a look at how it works so you can be fully informed before buying a Polkadot coin.
The platform is based on architecture that allows for different blockchains to be connected together. This makes it possible for transactions and data to move freely between chains. Transactions are validated by witnesses who are randomly chosen from a pool of validators.
The DOT token gives the validators the power to vote and take part in the evolution of the whole blockchain. Their votes ensure that the platform remains decentralized and democratic so that no single party can control it.
The Polkadot network is powered by its own blockchain, called the Parity Substrate. This allows for greater scalability and faster transaction times. Some of the things that make Polkadot so popular and unique are its flexibility and ability to adapt to changing needs and environments.
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How To Buy Polkadot In : A Simple Guide
In this guide youll get information about where to buy Polkadot, if you are planning to buy DOT Youre in the right place!
Polkadot is a decentralized platform that is designed for cross chain transfer of assets and data, so it isnt limited to tokens only. It is a sharding protocol with open source mechanism that is meant to boost interoperability between one another. The main core of the platform is about interoperability, which is designed to establish a full private and decentralized web with users having full control over it. It will also support new services, new institutions, and new applications creation.
The protocol would connect private and public chains, future technologies, oracles, and permissionless networks so these blockchains can share information in a strustlessly manner. The native DOT token serves as parallel chains creation through bonding and for governance network. Staking is also offered, providing positive reward and transparent environment for users.
How To Buy Polkadot With A Credit Card Using The Instant Buy/sell Option
When it comes to the easiest and fastest way to on CEX.IO, the Instant buy service is one of the first things you should try. With this service, you can and dozens of other cryptocurrencies, including DOT, in a matter of minutes and by simply using your payment card.
Just follow these steps if you want to know how to buy Polkadot cryptocurrency with the Instant buy service:
- Choose DOT in the list of cryptocurrencies to buy
- Set the amount want to buy/spend or pick one of the pre-calculated packs
- Add a new card or use a verified card for transaction
- Double-check the details and confirm the transaction.
As you can see, its not that hard. After transaction confirmation, you will receive DOT on your CEX.IO balance in seconds.
The Instant buy service is available via both the CEX.IO website and CEX.IO mobile app. But the Instant sell option is exclusive for an app. It works similarly to Instant buy. With this service, you can and other cryptocurrencies and withdraw fiat funds using your payment card.
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How To Buy Dot On Kraken
Follow the steps below to start buying DOT on Kraken:
Sign up for a Kraken account.First, enter a valid email address, create a new username and set a strong password to protect your account.
Verify your account. After providing your name, date of birth, country of residence and phone number, you can buy DOT with cryptocurrencies like and . In order to use cash , youll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
Deposit cash.You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
Purchase DOT!Once your account is funded with cash, youre ready to purchase DOT. At this point, youll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize spot trading on *, features that help make the Kraken experience beloved by millions of global traders.
*Availability of margin trading services is subject to certain limitations and eligibility criteria.
What The Bulls Are Saying
*A Bet On Multi-Chain: The bulls like to call DOT Ethereum killer because it would seem to be well-positioned to benefit from a scenario in which many blockchains flourish. A bet of DOT is a bet on a multi-chain future, bulls say.
Many are intrigued by Polkadots wild cousin Kusama. Its a testbed, designed to host applications preparing for full-scale rollouts on the DOT network. Kusama also plans on facilitating its own suite of Dapps.
At full operational capacity , the network will theoretically be able to process upwards of 1,000,000 transactions per second.
*Distinction with a difference: DOTs focus on interoperability sets it apart from siloed ecosystems like Bitcoin and Ethereum.
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How To Keep Your Polkadot Safe By Protecting Your Private Key
these checks and balances dont exist in the cryptocurrency industryThe best way to keep your DOT safe is to use one of the popular hardware wallets that the cryptocurrency community has already tried and testedprivate keyBitcoin developer glossary could only ve reasonably been created by someone who has the private key
Transfer Btc To An Altcoin Exchange
Select altcoin exchanges:
But we are not done yet, since DOT is an altcoin we need to transfer our BTC to an exchange that DOT can be traded, here we will use Gate.io as our exchange. Gate.io is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here and we recommend US traders to sign up on this exchange. The exchange is available both in English and Chinese . Gate.ios main selling factor is their wide selection of trading pairs. You can find most of the new altcoins here. Gate.io also demonstrates an impressive trading volume. It is almost every day one of the top 20 exchanges with the highest trading volume. The trading volume amounts to approx. USD 100 million on a daily basis. The top 10 trading pairs on Gate.io in terms of trading volume usually have USDT as one part of the pair. So, to summarize the foregoing, Gate.ios vast number of trading pairs and its extraordinary liquidity are both very impressive aspects of this exchange.
After going through a similar process as we’ve done before with Coinbase, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
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Access To Advanced Services
CEX.IO Exchange allows you to buy DOT using different services Instant Buy/Sell, Exchange, and Trade. Yet, CEX.IO Exchange is not a single product of the CEX.IO ecosystem. Your CEX.IO account opens access to advanced crypto services staking, savings, loans that you can benefit from with your DOT and other cryptocurrencies.
Polkadot Price Needs To Step Up Its Game
Polkadot price created a range that extends from $15.83 and $23.15 which it has been trading inside since it formed on February 8. After a quick deviation below the swing low at $15.83, DOT rallied roughly 69% and set a swing high at $23.85.
This upswing soon hit a peak of euphoria that caused investors to book profits, leading to a corrective wave that pushed it down by 28%. The retracement also pushed it below the 50% retracement level at $19.49.
The last attempt at an uptrend pushed Polkadot price by 15% where it pierced the midpoint and the 50-day, 100-day Simple Moving Averages but failed to produce a decisive close above these hurdles at $19.62. As a result, DOT faced immense rejection causing an 8% pullback to where it currently trades – $18.30.
If the buyers fail to move above $19.62, the rejection is likely going to push Polkadot price lower to retest the range low at $15.83. In a highly bearish case, DOT could extend lower and retest $13.64.
DOT/USDT 1-day chart
While things are looking bearish for Polkadot price, a daily candlestick close above $23.15 will invalidate the bearish thesis. In such a case, DOT will have the chance to rally and retest the $24.18 and $30.50 barriers.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Polkadot Is Not On Binanceus:
Binance is a reliable crypto exchange to buy different cryptocurrencies. However, please remember that there are two separate subsidiaries of Binance. One is Binance.com, and another one is Binance.us.
Binance.us serves only US customers, and Binance.com provides service for the rest of the world. It is due to the USs financial regulatory reasons. Binance.com offers users to purchase Polkadot coin however, you cant buy DOT coin from Binance.us. Therefore, if you are in the US, you cant buy Polkadot from Binance.
Sometimes, people would suggest using VPN and use Binance.com to purchase cryptos. However, we dont recommend it, and the process is too complicated for a US resident. Heres why the steps are complicated:
Therefore, its not worth it to use Binance.com to purchase Polkadot for a US resident.
Binance.US also does not serve the following states. If you are from any of these states, you cant use Binance.US to purchase cryptocurrencies.