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What is Polkadot?
Polkadot is an open-source sharding multichain protocol that facilitates the cross-concatenation transfer of whatever data or asset types, not just tokens, thereby making a broad range of blockchains interoperable with each other.
This interoperability seeks to establish a fully decentralized and private web, controlled past its users, and simplify the cosmos of new applications, institutions and services.
The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain (explained further downwardly).
Where and how to buy Polkadot
| Exchange name: | Deposit methods: | Fiat currencies: | Coins supported: |
Buy Polkadot on Binance using a credit card or debit menu
Step 1: Set upward an account on Binance
The first footstep is to sign up to Binance- click here to go to the site.
Enter your email address and a strong password (take countersign security as seriously every bit you would for your bank business relationship).
Click the bank check box to confirm you’re over eighteen and click ‘create account’.
You will exist sent an email with a verification code. Go discover that electronic mail (cheque your spam or junk binder if you don’t encounter it within a infinitesimal or two).
One time y’all have the code enter information technology on this page.
You will be given some options on how to get started.
Withal you won’t be able to use any of these options until you’ve added more than security to your account and verified your identity. So for the moment click the ‘get to dashboard’ link.
You will be asked to increase your account security past enabling 2FA (two factor hallmark). Click the Google authentication pick and follow the instructions to prepare information technology upward.
Pace two: Verify your Binance account
Once your account is secured, return to the dashboard and click ‘security’.
Click ‘verify’.
On this page you will see ‘basic data’. Click ‘verify’. Enter your name and address equally it appears on your personal identification (for case, your passport, national identification card or drivers license).
You will then be asked to verify your identification and face.
First the verification. Select the state your identification was issued in and the type of identification you lot accept.
You will and so be given the choice to either have a photo of the identification and your face using your webcam or upload files of the aforementioned. If you’re on a mobile phone, you can click the supplied link to go along verification on your phone.
Follow the verification instructions until successful. It may accept a trivial time before your verification is practical to your account, and then delight be patient.
Step three: Apply a credit or debit carte du jour to buy Polkadot
Now that your account is secure and identity verified, on the top menu click ‘purchase crypto’ and ‘credit/debit menu’.
On the next folio you’ll exist given the choice to select your preferred currency.
Enter the amount yous’d like to spend.
Select Polkadot from the drib down bill of fare.
Press ‘buy Polkadot’
You may be asked to supply some additional data. This is to satisfy international regulations.
You may be told that your account is under review to assess if yous are eligible to purchase cryptocurrencies using a credit card or debit carte du jour.
This review process ordinarily takes under two minutes but may have up to two hours.
If your business relationship fails this review process you may want to instead use this method of buying Polkadot on Binance.
Once the review process has passed you will be asked to add your credit carte or debit card details to Binance.
Once the details accept been entered you will be given a summary of your purchase.
If you’re happy with what you see click ‘ostend’.
Note:
Your first cryptocurrency purchase might be blocked by your bank for security reasons. If this happens y’all should contact your bank and instruct them that the attempted purchase was made by you and you wish to try again. You can and then become dorsum to Binance and try your Polkadot purchase again.
Success!
Your Polkadot will soon be in your Binance wallet.
Click ‘return to wallet’ to run into information technology.
Buy Polkadot on Binance using Bitcoin bought on some other exchange
Click ‘deposit crypto’.
On this page you’ll be given a Bitcoin (BTC) address.
At present y’all need to buy some Bitcoin. Follow our guide to ownership Bitcoin here.
Once yous have Bitcoin, send it to your Binance Bitcoin (BTC) address.
The process of sending Bitcoin varies by commutation, simply the guide you used to buy Bitcoin will also explicate how to transport it.
It can take 20-threescore minutes for Bitcoin to send and confirm. Y’all don’t take to sit and wait- once your Bitcoin has been successfully deposited to Binance you will be sent a confirmation email.
One time you’ve received the electronic mail click hither to get to the Bitcoin/Polkadot commutation on Binance.
The commutation page can look overwhelming at first but don’t worry, you’re but going to employ a small part of it.
There are two ways of buying Polkadot- a limit order (more complicated) and a market buy (very simple):
A ‘Limit’ guild
A limit order lets you manually set the price at which you desire to buy Polkadot (DOT).
In the ‘commutation’ department of the folio select ‘limit’.
Enter the price (priced in Bitcoin) you lot want to pay for Polkadot in the ‘price’ box.
Then enter the amount of Polkadot (DOT) you lot desire to buy in ‘amount’.
Yous will be told the total amount of Bitcoin the order will cost. Press ‘buy DOT’.
Note:
your order volition simply fill up if the price of Polkadot reaches the cost y’all prepare.
A ‘Marketplace’ buy
A market purchase fills your club automatically at the best price available.
In the ‘exchange’ department of the page select ‘market’.
In the box marked ‘amount’ make full in how many DOT y’all’d like to buy. It may be easier to use the percentage buttons beneath the input box- for case, printing 50% if you’d like to commutation fifty% of your Bitcoin for DOT.
Once you lot’re happy with the amount press the green push button marked ‘buy DOT’.
Your society will be filled immediately.
Congratulations- you now own some Polkadot!
In the future if you make up one’s mind to sell your Polkadot you can practise so easily by using the same ‘limit’ or ‘market place’ method, but using the ‘sell’ option instead.
Using a VPN while signing up to and using Binance international
Unfortunately Binance has barred United states of america citizens from using their international exchange. Instead Binance has built a U.s.a. based exchange- simply it does not let the purchase of Polkadot.
Fortunately there is a workaround.
You can employ a VPN (virtual private network) that makes you announced to exist accessing the internet from a different state.
Yous can read more about what a VPN is hither.
It is strongly advised
yous apply a secure paid-for VPN: you lot are dealing with money afterall. Merely if you really don’t want to you can discover the best free VPN software at Techradar.
Information technology’s
very important to note
that you must utilize a VPN
EVERY
time you admission Binance international, otherwise information technology may be detected that you’re in the US and your account will exist locked.
If your account is locked you may not exist able to withdraw whatsoever cryptocurrency y’all have stored in it.
Once your VPN is set, follow this guide to buy Polkadot on Binance.
How to buy Polkadot on Cex.io
Stride 1: Set up upwardly an business relationship on Cex.io
Click here to go to Cex.io
Click ‘Create Account’. Enter your email address, your country of residence and a strong password (accept password security for this equally seriously as yous would for your depository financial institution business relationship). Click the check box to accept the site’s terms of use. Press ‘Create Account’.
You lot will have been sent an email from Cex.io. Go open it and click the link inside to confirm your email accost is genuine.
To buy Polkadot you’ll at present have to provide some personal information to prove you are who you say you lot are.
Enter your name and date of nascence. Printing ‘Next’.
Before you’ll be able to purchase Polkadot you lot’ll take to verify your identity. In the tiptop right corner of the screen click your name and in the drop down carte du jour select ‘verification’.
Press ‘start’ on stage i ‘identity verification’.
Enter your land of residence and phone number.
On the side by side page choose the type of document y’all’re going to use to verify your identity. You tin can utilise a passport, national identification card or driver’s license.
You’ll need to upload an prototype of the document along with a articulate photograph of yourself holding information technology.
Step 2: Eolith coin to Cex.io
Now that your account is verified click ‘finance’ on the meridian card. Choose which currency you want to pay into Cex.io and press ‘deposit’.
Depending on which currency you’re using you’ll be given various options on how to deposit money to Cex.io.
Cull which you’d like to use. Enter the amount of coin you’d like to deposit in the right mitt cavalcade and so follow the instructions given.
Once your deposit information technology successful you will be sent an email confirming the money is in your account.
Step iii: Purchase Polkadot on Cex.io
Now that the money is in your account click ‘buy/sell’.
In the drop downwards boxes select ‘DOT’ and then the currency you deposited to Cex.io.
In the box marked ‘your amount’ enter either the amount of your coin you want to spend or the amount of DOT y’all want to buy. In that location is also the option to ‘buy with all my bachelor balance’. Once you’re done, press buy.
You volition be given a summary of your purchase.
If you’re happy with what yous see click ‘purchase at present’.
Congratulations! Yous at present own some Polkadot.
Wallets that support Polkadot
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