Want to know how to purchase Polkadot? Y’all can buy DOT on
Polkadot (DOT) is an open-source sharding multichain operating on the Ethereum network. Polkadot uses oracle technology to connect blockchains together, assuasive information to be shared between multiple projects and networks. The goal of the Polkadot network is to create a truly decentralized web by allowing blockchains to “communicate” with each other. Polkadot is currently the 11thursday
largest cryptocurrency in the earth when measured by marketplace capitalization.
Interested in learning more than nigh investing in Polkadot? Our guide will assistance you become started.
- How to Buy Polkadot
- Best Crypto Exchanges for Polkadot
- Best Cryptocurrency Wallets
- Trade or Sell Your Cryptocurrency
- Current Crypto Prices
- Add together Cryptocurrency to Your Portfolio
- Frequently Asked Questions
How to Buy Polkadot
Open up an online business relationship.
The easiest way to buy and sell Polkadot today is on SoFi or iTrust. If you don’t have an account with either of these platforms, you’ll desire to fix one upward to buy Polkadot.
Creating an business relationship with both of these exchanges is relatively simple every bit long as you lot’re ready to comply with the SEC’s know-your-customer (KYC) guidelines. You lot’ll need to authenticate your identity for tax purposes via your SSN, drivers license, address and a quick selfie.
This shouldn’t have more than than 5 minutes, and once you’re approved you tin can connect your banking concern account and get trading!
Buy or download a crypto wallet
A cryptocurrency wallet is a mobile or desktop app that allows y’all to safely shop your cryptocurrency with a private set of keys. For the highest possible level of security, we recommend investing in a cold wallet. Cold wallets are devices that you can buy from sites like Amazon. Most models work like a wink drive, assuasive you to connect to your computer or mobile device via Bluetooth to transfer your coins into a more secure wallet. Your cold wallet stores your coins offline, which ensures that only you accept access to your coins.
Make Your Buy
The concluding step to investing in cryptocurrency is to identify a buy order through your broker’due south trading platform. There are a few different types of buy orders, and each purchase order gives your broker a specific set of instructions to follow when they deport out your trade. Some of the most common types of purchase orders you’ll see may include:
Marketplace orders are executed as soon every bit possible. They give you lot less control over the price paid for each nugget, only they tin be useful for those who need a quick purchase.
Limit social club.
Limit orders are executed equally before long as possible at a specific cost. For instance, you could set a limit lodge with a price limit of $5 per token. If the cost of the token you lot’re investing in falls to $v or less, your banker will fill the gild. If the price doesn’t fall to $v, your broker won’t fill the gild.
Recurring order. Some brokers offer recurring orders, which allow you to invest on a fix schedule. For instance, y’all might set an lodge to buy $500 worth of Polkadot on the first day of every month. Depending on the broker y’all’re buying through, yous might exist able to ready recurring orders on an annual, monthly, weekly or even daily ground.
Terminate-limit order. A stop-limit order is a provisional order that is simply executed nether a specific price umbrella. For example, you might fix a stop-limit order for Polkadot with a finish cost of $5 and a limit price of $5.25. In this circumstance, your broker would brainstorm filling your club as presently as the price of each token reaches $five. So long every bit the banker tin can make full the order below $five.25 per token, your order will go on to be filled until its completed. If the price of Polkadot rises above $5.25, your broker will end executing the lodge.
After your banker fills your order, y’all tin transfer your coins to a wallet if you plan on becoming a long-term investor. Y’all might want to start by transferring a modest amount of coin earlier you send your entire buy to exist 100% sure that you take your wallet address right. If you send your cryptocurrency to an incorrect wallet address, it is very hard to go your tokens dorsum.
Best Crypto Exchanges for Polkadot
As delineated to a higher place, SoFi and iTrust are some of the best platforms offering Polkadot today. Making an account is easy, and you lot can get started investing in crypto today! Before you’re approved to trade, however, you lot’ll need to verify your identity. To do so, you lot’ll demand to provide your driver’southward license number, Social Security number and dwelling address.
Best Cryptocurrency Wallets
At present that you know how to buy Polkadot you need to acquire how to store it safely. Here are a few of the all-time cryptocurrency wallets on the market:
Well-nigh Affordable: KeepKey
Some cold wallet models tin can toll upwards of $100. If you only need to store a bit of crypto, you might want to consider the secure and affordable KeyKeep model.
KeepKey is a unproblematic, straightforward cryptocurrency wallet that connects to your computer via USB. KeepKey supports ERC-20 tokens like Polkadot in addition to other major cryptocurrencies similar Bitcoin, Ethereum, Litecoin and more.
Best of all, KeepKey offers all of this protection for less than $30.
Best For Simple Setup: Trezor Model T
The Trezor Model T is i of the most popular cold storage solutions bachelor, combining meridian-of-the-line security with an easy setup process that even complete beginners will understand. To get started, simply connect to your computer or mobile device via Bluetooth or USB, visit trezor.io/kickoff and follow the instructions. Your device volition be upwards and running in simply a few minutes, allowing yous to quickly transfer your investments to your wallet.
The Trezor Model T likewise features a full-color LCD touchscreen, which tin can assist you manage your coins more effectively when yous’re away from dwelling house or on a public wi-fi connection. With a simple setup process, large storage sizes and enough of compatible coins and tokens, the Trezor Model T is a corking choice for new investors and seasoned professionals akin.
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Trade or Sell Your Cryptocurrency
If your broker is able to fill up your order, yous’ll see it in your brokerage business relationship. From here, you’ll need to decide if you want to hold onto your tokens for a long menstruation of time or merchandise throughout the week or day to capitalize on short-term price movements.
If you decide to sell on an ongoing, short-term ground, you’ll need to open an account with a broker that puts a high emphasis on platform speed and security. If you don’t already have an account, showtime your search with some of our recommended choices below.
Electric current Crypto Prices
The cryptocurrency market is exceptionally volatile. Even major cryptos can regularly come across a half dozen% drop or increment per 24-hour interval. Take a look at how the crypto market is moving today with the chart below.
Add Cryptocurrency to Your Portfolio
Not sure which cryptocurrency to invest in? Consider investing in a crypto ETF instead of individual coins. An exchange traded fund (ETF) is a bundle of stocks that trade like a single share.
Crypto ETFs similar the Dilate Transformational Data Sharing ETF and the Reality Shares Nasdaq NexGen Economic system ETF can add instant diversification to your investment portfolio while also providing exposure to the expanding earth of blockchain technology.
Frequently Asked Questions
Is Polkadot a layer 1 or layer 2?
Polkadot is considered a “Layer 0” blockchain which means that its a network blockchains can build on.