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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 Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Polkadot (DOT) is accessible on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this manual)

Make sure you've selected the correct coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. If you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Find Polkadot (DOT)

Once your deposit has been verified, you will immediately have access to your funds and you can initiate invest and trading. To purchase Polkadot (DOT) on Binance, you will want to go to the ”Exchange” tab and mouse click on “Basic”.

In order to discover Polkadot (DOT), you will need to insert the shortname of the coin (DOT) into the search-box, which is highlighted in the graphic. Be certain of having choosen the right pairing, we have highlighted this too. Click on “DOT/BTC” to go ahead.

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

Once you have discovered Polkadot (DOT), you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). For now we're making our Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date rate Polkadot (DOT) was traded for. This can be changed to your desired price. The ”Amount” field is the quantity of DOT you want to buy. The ”Total” field is the aggregated price in Bitcoin that you'll pay for the complete quantity of DOT.

If you're glad, make a mouse click on “Buy DOT”. Your plan will be filled when a Vendor trades their DOT for the price you introduced.

Step 5 – Withdraw Polkadot (DOT)

Unless you're trading, you should never keepyour coins on an Exchange for an extensive time frame. To take off your Polkadot (DOT), hover over the ”Funds” tab and click on “Withdraw”. Polkadot (DOT) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Polkadot (DOT) by using the given drop-down box. Drop in the amount of Polkadot (DOT) you'd like to take off. Take into account the presented fees/minimums. Also make sure you have entered your right withdraw address.

When you're happy, make a mouse click on “Submit”. You may be requested for verfication via email/phone ahead of a take off.

Congrats! You've successfully bought and safed Polkadot (DOT).

That's it!

Take offs from Crypto Trader can durate anywhere from 1 – 30 minutes (depending on network usage). As soon as you've proved your withdrawal with Etherscan.io or Ethplorer.io and the Polkadot (DOT) is stored inside your wallet, you're done.

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