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How to Buy Polkadot (DOT)

A Step-by-Step-Guide on how to buy Polkadot (DOT)

Step 1 – Join CEX.io

You'll first need to buy one of the bigger coins. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Follow the Link below for registration and receive your BTC (Bitcoin) or ETH (Ethereum).

Binance Signup
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Polkadot (DOT) is available on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow this how-to)

Make sure you've chosen the right coin you want to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Locate Polkadot (DOT)

As soon as your deposit has been verified, you will now have access to your finances and you can begin invest and trading. To invest in Polkadot (DOT) on Binance, you will want to hover over the tab which is called “Exchange” and then mouse click on “Basic”.

In order to discover Polkadot (DOT), you will need to insert the short name of the asset (DOT) into the search box, which is highlighted in the picture. Be certain of having selected the right grouping, we've highlighted this too. Click on “DOT/BTC” to advance.

{How to buy Coin on Binance 1|Binance How To Buy 1} Polkadot (DOT)
Step 4 – Buy Polkadot (DOT)

Once you've found Polkadot (DOT), you will be given a Price Chart (in the Center of the picture) and some Order Books (on the Left of the image). Next we are going to make our own Limit Order.

The ”Price” field will be automatically filled with the most latest rate Polkadot (DOT) was sold for. You can change this to your desired price. The ”Amount” field is the quantity of DOT you like to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll pay for the whole volumen of DOT.

When you're glad, make a mouse click on “Buy DOT”. Your order will be filled as soon as a Vender sells their DOT for the price you introduced.

Step 5 – Withdraw Polkadot (DOT)

Unless you are frequently trading, you should never keepyour crypto on an Cryptocurrency Exchange for an longer time frame. In order to take off your Polkadot (DOT), go to the ”Funds” tab and click on “Withdraw”. Polkadot (DOT) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Polkadot (DOT) by using the given drop-down box. Enter the quantity of Polkadot (DOT) you'd like to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your precise withdraw address.

When you're happy, make a mouse click on “Submit”. You could be asked for email/phone verification ahead of a take off.

Congrats! You have successfully bought and stored Polkadot (DOT).

That's it!

Take offs from Exchange can durate between 1 – 30 minutes (depending on network usage). Once you have proved your withdrawal using Ethplorer.io or Etherscan.io and the Polkadot (DOT) is safe in your wallet, you are finished.

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