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What should the buyer know before he purchases Polkadot
The Polkadot blockchain has better scalability and interoperability, thus attracting many investors. Last year, the price of the DOT token rose faster than anyone could imagine, appreciating 500% in value. Polkadot (DOT) is currently the most anticipated in the cryptocurrency market because DOT coins are generating profits for all holders. If you are desperate to make it one of your portfolios, you need to understand where and how to buy Polkadot(DOT).
Before buying Polkadot crypto, you can read the information below.
What is Polkadot
Polkadot is a blockchain that can be used as other blockchains, also known as a multi-chain application environment. This open-source multi-chain protocol makes it possible to transfer and share data between different blockchains. The Swiss technology company Web3 Foundation created Polkadot to help other blockchains achieve interoperability. So that smart contracts and any form of data can be shared between different parties.
Polkadot is better than other competitors
Completing complex tasks on Ethereum increases costs and congests the network. Polkadot has a series of connected blockchains, also known as parachains, which speed up transactions and reduce the potential for network overload by running together. Protocols that allow its network to interact with other blockchains also make it more flexible. These are features that other cryptocurrencies do not have.
Polkadot blockchain may be better than banks
Polkadot is very popular right now
The innovation and good reputation of the Polkadot blockchain have attracted the attention of many crypto communities. Over the past 12 months, the number of users on Polkadot’s development platform has exploded, and many new applications have been added. It became the fastest-growing blockchain developer pool.
The future of DOT tokens
Polkadot’s improvements to traditional blockchains have earned it the title “Ethereum Killer”. Once more blockchains are connected to Polkadot, the way decentralized finance (DeFi) is used will change. This will bring strong demand for DOT cryptocurrency and stimulate its price to rise sharply.
If you have a general understanding of the Polkadot (DOT) coin, you can move on to the next step.
Where to buy Polkadot: Preparation steps before buying Polkadot
While you’re desperate to profit from Polkadot’s volatility, you need to know where to purchase in Polkadot (DOT). Before that, there are still preparations for this.
1. Prepare a wallet that can safely store DOT coins for you. You can choose a cold wallet or a hot wallet. Hardware wallets (cold wallets) are safer, but you need to spend a lot of money on them. Therefore, you need to choose according to your needs.
2. After getting a suitable Polkadot wallet, you need to choose a suitable one among the significant cryptocurrency exchanges. Bexplus is the best DOT trading platform. It does not require you to do “Know Your Customer (KYC)” verification. Therefore, registering an account with Bexplus is just a matter of minutes.
3. Prepare sufficient funds for your account. You can deposit funds into your account through credit cards, debit cards, Apple Pay, and other payment methods. This is what you need to determine before making a DOT transaction.
Where can buyers invest in Polkadot
Buying, selling, and trading Polkadot coins on exchanges are common. It is essential to choose a suitable crypto exchange. Although all major cryptocurrency venues will provide trading of digital assets such as DOT, the security, technology, transaction fees, functions, deposit methods, and withdrawal mechanisms are quite different. And Bexplus is the best among them. Many top investors are using Bexplus. To help users make their choices, Bexplus also analyze each of these crypto trading platforms below.
Bexplus is the most popular DOT exchange
Bexplus is a reliable and well-known cryptocurrency exchange platform, so many traders like to buy and sell Polkadot (DOT) and other stablecoins on this exchange. Why is it popular with traditional and institutional investors? Bexplus offers a 100% deposit bonus. You don’t need a lot of capital to invest in cryptos. In addition, the demo account of Bexplus has helped many traders to become proficient in various investment strategies and techniques before trading. The biggest highlight is that Bexplus provides a 100 times leverage tool, and investors can get the maximum benefit with a small amount of capital. Furthermore, Bexplus offers an interest-bearing wallet that is risk-free.
Step 1 of Where to buy DOT
Visit Bexplus’ official website and click the “Sign up” button. Then you need to fill in the email address, activation code, and user to register the account. Activation can be completed within minutes with no “Know Your Customer (KYC)” verification.
Step 2 of Where to buy DOT
If you have a credit card, debit card, or other payment instruments ready, you can use them to deposit funds. Click the username icon on the web page and navigate to the “Deposit” item in the menu.
Step 3 of Where to buy DOT
- Tap on the “Buy Bitcoin instantly” icon on the “Deposit” page.
- On the next page, you need to fill in the “Choose your currency” and “Choose your country” fields respectively. To buy Polkadot, click “You get” and enter “DOT” in the search box. Then select it.
- After the “BEST OFFER” item pops up on the page, you can click the “Buy now” button to go to the next step. This item is the best order based on the information you fill out.
- Fill in the DOT wallet address created earlier in the “Enter your DOT wallet address” item. After ticking to agree to the terms, you can click the “Go to payment” button.
- The page will redirect. This process takes a few seconds.
- To complete the payment, you need to create a Moonpay account. Enter the email address in the “Enter email” page and click the “Continue” icon.
- Then, you will be asked to enter the activation code on the “Verify email” page. Copy the activation code from your email, fill in this item, and click the “Continue” button.
- On the next page, you will need to submit basic personal information. After filling in, click the “Continue” button to confirm the submission.
- You will be directed to the “Enter billing address” page. Then follow the prompts to enter your billing address.
- The “Enter card billing address” page can be the same as the address in the previous step, so check the “Use the address I have on file” item.
- Next, you will be taken to the “Enter card details” page. Enter the relevant information to complete the purchase of DOT cryptocurrency.
Once the payment is completed, you can receive the transferred DOT digital currency in your Polkadot (DOT) wallet.
Other exchanges where you can buy Polkadot
Bexplus is the best platform for traders to buy DOT coins. But in order to provide investors with more information, we will also analyze three other trading platforms.
Uphold has been operating since 2014. Users can access its desktop and mobile trading platforms to buy and sell cryptocurrencies like Polkadot.
Trading across asset classes is allowed.
Non-professional trading platform compared to Bexplus.
Holders cannot fully control their digital assets.
KYC verification is required to trade.
Fees are expensive.
Binance is another exchange founded in 2017. You can stake cryptocurrencies like Polkadot (DOT) and BTC on the platform.
The crypto exchange supports peer-to-peer trading options.
Account verification can take longer than 15 days.
U.S. regulators have investigated the platform.
The user interface is not friendly.
Deposit fees are high.
Kraken cryptocurrency exchange offers a wide range of asset trading options. Users can easily buy and sell multiple cryptocurrencies.
The user interface is simple.
Some users reported their losses due to hacking.
Both traditional investors and institutional investors need to pay high fees.
There are not too many coins to trade.
|Interest wallet||Up to 21% annualized interest rate||Lower annualized interest rate||Lower annualized interest rate||Lower annualized interest rate|
|Ease of use||⭐⭐⭐⭐⭐||⭐⭐⭐||⭐⭐⭐⭐||⭐⭐⭐|
|Bonus||1:1 deposit bonus||×||×||×|
Combining the above data, traders choosing Bexplus to buy Polkadot (DOT) will be the best solution.
In what payment method can a buyer purchase Polkadot
Some traders expressed doubts about what payment method can be used to buy DOT coins during the investment process. We will answer this in the following paragraphs.
If the cryptocurrency exchange supports Apple Pay, you can find the additions in the Deposit panel. When you successfully link Apple Pay to the trading platform, you can buy encrypted tokens such as Polkadot.
Generally, credit cards can be used to obtain altcoins such as Polkadot. Such payment methods will be easy and fast, but the fees will be higher. And all you have to do is find an exchange that accepts this payment method. Fortunately, Bexplus perfectly supports such payment methods.
Bexplus supports purchasing Polkadot (DOT) coins with Visa and MasterCard debit cards. Prepaid cards are not used for trading cryptocurrencies.
Bank transfer is the least expensive of all payment methods, but buyers have to wait longer. Because the bank takes a long time to complete the verification of funds, this transaction method is suitable for large-value transactions.
Where to keep your Polkadot
The follow-up operations for purchasing Polkadot are the same as other digital assets, and the safest way is to store them in your wallet for safekeeping. There are many options for traders. Many centralized trading platforms also provide Polkadot token custody functions for registered users. Some exchanges with weak security technology will face hackers’ intrusion, and users’ cryptocurrencies will be stolen. Therefore, some users have to create personal cold or hot wallets.
Hot wallet (software wallet)
Software wallets require an internet connection, so they are easy to use and allow quick access to funds. But this also reduces its security. Therefore, the safety of DOT coins in hot wallets depends entirely on third-party software companies and exchanges.
Cold wallet (hardware wallet)
A hardware wallet is a device similar to a USB stick. It disconnects from the Internet to avoid hackers. Therefore, hardware wallets are the most secure. But some cold wallets are also expensive. It is not friendly to small transaction users and high-frequency transaction users. Therefore, cold wallets are suitable for long-term holding of Polkadot.
Bexplus is a secure wallet with passive income
Investors highly appreciate Bexplus wallet. It uses a combination of cold and hot wallet technology to ensure the safety of all digital assets. Multi-signature verification and employee manual processing are necessary steps in fund switching. Although it is not yet suitable for storing Polkadot, you can store BTC, EOS, ETH, USDT, and XRP.
Deposit these stablecoins to get a 100% deposit in Bexplus. These bonuses can be used for trading to increase the profitability of the holder.
Bexplus wallet can earn income for holders without risk. Among them, the annualized interest rate of the BTC wallet is as high as 21%. It is the most profitable wallet in the industry.
How to buy Polkadot in different countries
Polkadot (DOT) is a prominent presence in the cryptocurrency market, attracting investors from different regions and countries. Here’s how to buy DOT coins in different countries.
How to purchase Polkadot in Slovenia
Slovenia is a country in Southeast Europe that is friendly to DOT, BTC, and other cryptocurrencies. It is the leader in stablecoins among European countries. More than 1,000 venues in Slovenia accept cryptocurrency payments, including restaurants, hair salons, cafes, hotels, and more. A good atmosphere for crypto investment has made Slovenians keen to hold digital assets such as Polkadot. And Slovenians buy DOT like this.
1. Make sure you have got a reliable DOT wallet. If you don’t have a wallet address available, create one yourself to receive Polkadot cryptocurrency.
2. Register an exchange account. The most recommended is Bexplus, which many Slovenians trust. There is no KYC verification, so there is less possibility of exposing personal privacy.
3. Fill in the payment information, and you can purchase Polkadot (DOT).
How to buy DOT in Netherlands
Cryptocurrencies are legal in the Netherlands without prohibited regulations. According to some current statistics, 520,000 Dutch people own digital assets, which is 3.04% of the total population of the Netherlands. In addition, some well-known trading platforms have been approved to operate in the Netherlands. This positive news prompted the Dutch to buy many Polkadot digital coins in the market. If you haven’t purchased them yet, you can follow the steps below.
1. Compare different types of DOT wallet addresses and choose one to create.
2. Create a trading account on the Polkadot exchange. Most exchanges will require KYC verification. Here, you can choose a Bexplus trading venue without a KYC audit.
3. Set up an account, and then you need to make a deposit operation in the account. Then you can buy and sell Polkadot.
How to purchase DOT in Singapore
You can freely trade digital currencies in Singapore. Singapore has always embraced cryptos. Now Singapore is the most advanced and mature country in the field of digital assets. The rapid development of this emerging industry has attracted Singaporeans to invest in Polkadot (DOT), BTC, ETH, and other cryptocurrencies. And Singaporeans can hold DOT coins in this way.
1. Find your Polkadot address. The wallet address will need to be filled in during the transaction.
2. Sign up for an account on Bexplus. It is a top presence in the cryptocurrency industry. So many Singaporeans choose it.
3. Fund your account, you can use a debit or credit card. Then you can easily buy Polkadot.
The DOT cryptocurrency is still a young project. Polkadot was priced at $2.69 when it went public in August 2020, and its current price is $27.11. This ROI is what all traders need. After reading this article Where and How to Buy Polkadot (DOT), you can start purchasing Polkadot.