How to buy Polkadot (DOT) – The Polkadot cryptocurrency, which appeared in 2020, is already in great demand today and ranks fourth in terms of market capitalization. Over the past month, its rate has grown by 220%, which indicates increased public attention. For those who decided to buy Polkadot (DOT), as well as sell or exchange it, the Bitcoinminershashrate.com editors have compiled an overview of all the main ways to do this. On August 18, 2020, Binance exchange listed the DOT token and opened trading in DOT / USDT, DOT / BTC, DOT / BUSD, DOT / BNB pairs.
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The project was created as a tool for ensuring interaction between different blockchains. Through the Polkadot network, you can transfer data and assets from different chains. The security of this method is ensured through transactional scalability – when transactions are distributed across multiple parallel blockchains. You can transfer absolutely any data from both private and public blockchains.
Polkadot code is compiled in a productive virtual environment WebAssembly (Wasm), which is also actively used by Google, Microsoft, Apple, Mozilla, etc. The Libp2p multi-platform networking framework is responsible for data exchange within the ecosystem. In the framework of Polkadot, the concept of parachains (parachains) is used – these are blockchains connected to the main chain, but having unique characteristics for each connected project.
The DOT token is essential for decentralized governance, rewarding decent contributors, and most importantly, adding new parachains.
You can track transactions on the Polkadot blockchain using the browser https://polkascan.io/polkadot
Let’s consider the main ways by which you can buy or sell a DOT token at the moment. The asset is not yet supported by payment systems and well-known p2p-exchanges, unlike currencies such as Bitcoin or Ethereum. However, many other services have already added it to their listing. DOT / USDT exchange on Binance cryptocurrency exchange
The most common option. DOT token is supported by a large number of centralized and decentralized marketplaces. Among them:
They provide an opportunity to buy DOT for BTC, USDT and other popular cryptocurrencies, as well as for fiat money (USD, RUB, EUR, TRY and others).
How to exchange Polkadot (DOT) on a cryptocurrency exchange:
Having received the desired assets on the balance, you can withdraw them to your wallet or leave them for further trading.
If you decide to use a decentralized protocol for the exchange (for example, Binance DEX or PancakeSwap), then the algorithm will be different. Automated market making is used here and there is no usual order book. To exchange Polkadot (DOT) for DEX:
At the moment, few cryptocurrency exchangers support DOT, but there are some. For instance:
Using an online exchanger to buy or sell Polkadot (DOT) involves the following steps:
Polkadot network addresses start with 1 and have the following format: 1HNn6R3ZivJVgLVh5Tk3WjnLnTQNUpfdSvp1pNza6x8GyDU. You can find out the address of your wallet directly in the wallet that supports this token by clicking on the “Receive funds” button.
Cryptocurrency wallets that support Polkadot (such as Trust Wallet and Atomic Wallet) often also provide the ability to exchange this asset. For example, consider the order of exchanging DOT through the Atomic Wallet.
Among the listed methods, you can choose the most convenient for you; As for the choice of the services themselves, then pay attention to their reputation and the established level of commissions. Polkadot (DOT) is an asset that is definitely worth paying attention to in the current environment. WalletInvestor analysts expect it to grow to $ 5,000 and more in 2021. Of course, predictions do not always come true, but experts have reason to make such assumptions. There is a high level of community acceptance of the token, and high capitalization signals the same.
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