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How to Buy Polkadot Coin (DOT) – Invest with Low Fees Today

In this guide, we cover everything you need to know about how to buy Polkadot (DOT) coin.
How to Buy Polkadot (DOT) Coin - Invest with Low Fees Today
How to Buy Polkadot (DOT) Coin - Invest with Low Fees Today

As of mid-May 2021, Polkadot (DOT) is the 8th largest cryptocurrency in the world with a market cap of $38 billion. This coin has generated a YTD return of around 465% and is considered by many analysts and crypto enthusiasts as one of the most important projects for the development of the cryptocurrency market and Defi applications.

So, if you have landed on this page, you are likely to be interested in buying the Polkadot coin. In this article, we show you how to buy Polkadot (DOT) and where best to buy Polkadot. We also analyze the coin’s features and strengths, historical price performance, and Polkadot price predictions.

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Contents [show]

    How to Buy Polkadot Coin – Quick Guide

    Below is a quick step-by-step process that will help you buy Polkadot coin immediately without going into details.

    1. Open an account with Capital.com – Visit the Capital.com website and register for a trading account.
    2. Upload ID – Next, you are asked to verify your identity. To do this, upload a copy of your passport or any national ID and a proof of address.
    3. Deposit – Deposit at least $20 with a credit/debit card or bank transfer.
    4. Buy Polkadot Coin – Search for Polkadot crypto on Capital.com’s platform, and place a buying order. Take note that you can use a leverage ratio of 2:1 when buying digital assets on this platform.

    How to Buy Polkadot Coin – Capital.com Tutorial

    If you are ready to buy Polkadot coin, in this section of our guide we’ll walk you through the steps using one of the most trusted crypto brokers, Capital.com.

    Step 1: Open an Account

    First, go to Capital.com website and sign up for an online trading account. After you have clicked on the ‘Register Now’ button at the broker’s homepage, you are then required to enter your personal details and confirm your email address.

    Register a Capital.com account (1)

    Step 2: Verify Your Identity

    In order to be able to trade with real money, you must first verify your identity. As such, Capital.com requires you to submit more information about your trading experience, the purpose of trading, and financial background. Then, you are also required to upload a copy of your passport or driver’s license along with a copy of a statement or utility bill that proves your current address.

    Step 3: Add Funds to Your Account

    Once Capital.com has verified your account, you can add funds to your online trading account. The minimum deposit requirement is just $20, and you can pay by credit card, debit card, or bank transfer.Capital.com Deposit Funds (1)

    Step 4: Buy Polkadot (DOT) Coin

    The final step you need to complete in order to Buy Polkadot coin on Capital.com’s platform is to search for the coin and place a buying order. To do that, enter Polkadot or DOT at the search bar and click on the DOT/USD trading pair. Then click ‘Buy’ and enter the amount you want to invest (in US Dollar or the number of coins). When you’re ready, click on the ‘Open Trade’ button.Buy Polkadot with Capital

    Where to Buy Polkadot Coin in February 2023

    Wondering where to buy Polkadot coin? We’ll highlight 3 of the top crypto brokers where you can buy this popular altcoin.

    1. eToro – Overall Best Crypto Exchange to Buy Polkadot

    etoro logoeToro is our top choice for beginner and intermediate investors that want to get access to the crypto market and buy Polkadot coin. Crucially, eToro does not currently offer the DOT tokens though it is constantly adding new coins to its platform and thus, it is very likely that eToro will soon add Polkadot crypto.

    Nonetheless, eToro is perhaps the most user-friendly and easy-to-use cryptocurrency trading platform in the market with a range of 19 digital assets. This includes the most popular coins like Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Cardano, IOTA, Stellar, EOS, NEO, Tron, Zcash, Binance Coin, Tezos, Chainlink, Uniswap, and Dogecoin.

    eToro crypto

    Further, eToro offers a plethora of features and tools that are not available on any other crypto platform. For example, you’ll get access to the CopyTrade tool that enables you to copy the trades of other users, meaning you can become a passive trader. Also, you can invest directly in eToro’s managed copy portfolios. These allow you to copy multiple markets based on a predetermined strategy.

    eToro copy portfolios

    Finally, the biggest advantage of trading with eToro is that your funds are protected so you do not have to worry about the safety of your funds. This brokerage firm is heavily regulated by FCA, CySEC, and ASIC.

    Pros

    • Offers a range of 19 crypto coins
    • No trading fees when you buy and sell assets on eToro’s platform
    • Accepts PayPal, credit/debit card, bank wire transfer, Neteller and Skrill
    • Built-in safe cryptocurrency wallet
    • Largest social trading network in the world
    • Features managed CryptoPortfolios
    • Regulated by the FCA, CySEC, and ASIC

    Cons

    • A limited selection of altcoins
    • Charges a $5 withdrawal fee

    67% of retail investor accounts lose money when trading CFDs with this provider.

    Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

    2. Capital.com – Best Platform to Trade Polkadot CFDs

    Capital.com LogoCapital.com is an online CFD platform where users get access to thousands of assets including shares, ETFs, commodities, FX currency pairs, indices, and cryptocurrencies. When you trade CFDs, you are not trading the underlying asset and thus, don’t have to store your cryptocurrencies on a digital wallet. Instead, you are entering into an agreement with another party in order to speculate on the price of the asset.

    Among the huge range of crypto assets that Capital.com offer, you’ll be able to buy and short sell Polkadot without paying fixed trading fees and with a leverage ratio of 3:1. The Capital.com platform also comes with an effective charting system that includes 75 technical analysis indicators, a price range tool, and the ability to trade directly from the chart.

    Capita.com platform

    Buy Polkadot with CFDs

    Overall, Capital.com is an ideal platform for all level of investors that want to get access to Polkadot CFDs and other financial instruments. The trading platform is extremely easy to use and users also get access to the Capital.com mobile app as well as to the MetaTrader4. Finally, Capital.com is a regulated brokerage firm and ensures clients’ funds are safe and secure in. segregated accounts.

    Pros

    • Offers margin trading
    • No commission for buying and selling crypto assets
    • In addition to its in house platform, Capital.com supports MetaTrader4
    • The first Artificial Intelligence trading platform in the world –  helps traders get trading insight based on previous trading activity
    • A great mobile app that is available on Android and iOS
    • Regulated in the UK by the FCA, and in Cyprus by CySEC
    • 24/7 customer support

    Cons

    • Only CFDs – Does not offer users to buy crypto assets outright
    • Does not support other crypto features like staking, futures, crypto loans, etc
    • No built-in crypto wallet

    71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

    3. Binance – Best Crypto Exchange to Buy Polkadot

    binance logoIf you still prefer to buy Polkadot crypto directly from an exchange and not via CFDs, then the first crypto exchange to take into consideration is Binance. This is simply the largest and most advanced cryptocurrency exchange in terms of daily volume and the selection of coins and features it offers.

    Overall, Binance is clearly one of the most balanced exchanges in the industry. On this exchange, users get access to lots of features and tools as well as to make a one-time cryptocurrency purchase with a credit and debit card or getting access to a professional trading platform for active day traders. Take note, however, that if you want to make a quick purchase of DOT coin, you can directly purchase DOT with a credit card on Binance. Another option is to first buy Bitcoin with a credit and debit card, and then exchange your Bitcoins (or any other coin you can buy with a credit and debit card) to Polkadot. Also, on Binance you can trade DOT versus different crypto coins including DOT/BNB, DOT, BTC, DOT/USDT, DOT/EUR, DOT/GBP, DOT/TRY, etc.

    binance platform

    Buy Polkadot (DOT) with Tether (USDT)

    To sum up, if you plan on becoming an all-around crypto trader that explores all the benefits of the crypto market – Binance is the best platform. You can stake coins and get rewards, trade futures, vanilla options, and utilize margin trading.

    Pros

    • The largest crypto exchange in terms of daily trading volume
    • Offers more than 150 crypto coins and 500 cryptocurrency pairs
    • Advanced trading platform that is available on all devices
    • Offers users to Polkadot with a credit and debit cards
    • 10x margin trading on Polkadot
    • Low trading fees of just 0.10% per trade or less
    • Built-in cryptocurrency wallet
    • Staking is available

    Cons

    • Not regulated
    • The platform is a bit complicated for beginners and intermediate investors

    Your capital is at risk.

    Polkadot Coin Payment Methods

    Although crypto exchanges once made it difficult to buy altcoins like Polkadot, today it’s extremely simple to buy this token. Let’s take a look at some of the payment methods you can use to buy Polkadot coin.

    Buy Polkadot Coin with PayPal

    A popular way to buy Polkadot coin is with PayPal. The simplest way to buy Polkadot with PayPal is to find a broker like eToro that accepts PayPal as a method for funding your account. With eToro, you can get started with just a $50 deposit. The broker also accepts e-wallets like Neteller and Skrill.

    You can also buy Bitcoin with PayPal directly. Once you have Bitcoin, you can transfer it to any cryptocurrency exchange and use Bitcoin to buy Polkadot coin. 

    Buy Polkadot Coin with Credit Card or Debit Card

    Another simple way to buy Polkadot coin is with a credit card or debit card. Most top crypto trading platforms, including eToro, Capital.com, and Binance, accept Visa and Mastercard payments. Funds appear instantly, so this is a good option if you want to buy Polkadot coin as quickly as possible.

    Buy Polkadot Coin with Bank Transfer

    Finally, you can buy Polkadot coin using a bank transfer. All of the top crypto trading platforms we reviewed accept bank transfers to buy Polkadot. Just keep in mind that these transfers can take a few days to complete, so you won’t be able to buy Polkadot instantly using this method.

    What is Polkadot Coin?

    In 2016, Polkadot was founded by Gavin Wood, a former Co-Founder of Ethereum, along with Robert Habermeier and Peter Czaban. The three have created the Web3 Foundation that was founded primarily to facilitate a fully functional and user-friendly decentralized web. Polkadot, which is the flagship product of Web3 Foundation, is a platform that integrates diverse blockchain networks into one network, allowing these networks to transfer messages and data in a safe and secure way. This is done by using parachains, which are independent blockchains operating in parallel within the Polkadot and Kusama networks. In other words, Polkadot is a heterogeneous, multi-blockchain technology.

    The Polkadot (DOT) crypto is the main token of the Polkadot network. Essentially, it has three main purposes: the governance over the Polkadot network, staking, and bonding. It is not an ERC-20 token and is completely native to the Polkadot platform. And, the DOT does not have a maximum supply, meaning it is an inflationary currency.

    Presently, there are over 1 billion coins in total supply and 687 million DOT coins that have already staked.

    buy Polkadot coin target

    Why Buy Polkadot Coin? Polkadot Coin Analysis

    Known as the ‘Ethereum killer’, Polkadot could be a major project in the future that will have a long-term and lasting impact in any industry where blockchain technology could work. Simply put, Polkadot has the potential to create a network that is often regarded as ‘the blockchain of blockchains’, meaning it can solve one of the biggest problems of the cryptocurrency market and the blockchain technology in general, that is interoperability. Thus, Polkadot software has the ability to connect various blockchains, including private to public networks and vice versa.

    In general, most of Polkadot’s users are developers. So, in case you are excited about the Polkadot network and wish to become part of the community, buying Polkadot will give you the right to participate in the decision-making process in relation to global upgrades and/or changes to Polkadot, participate in the governance of Polkadot, the ability to act as a validator, collator, nominator or fisherman, and the ability to be a collator.

    Otherwise, if you have no interest in becoming a member of the Polkadot community and you simply want to make a profit by investing in DOT coins, then there are other factors to take into consideration. First of all, Polkadot has a competition with Ethereum and Cardano. If Polkadot can grab a small market share from Ethereum (and Cardano) – then, there’s a huge upside potential here.

    Then, over the last year, there’s a huge hype around the Polkadot application. Some say that it is the missing link to making fully decentralized global trade and other networks online. And, though there are other networks like Cosmos trying to do a very similar thing, Polkadot has the most advanced and promising technology. As such, many investors believe Polkadot could be the next Ethereum.

    Polkadot Coin Price

    In terms of Polkadot price performance, this coin is not different than any other leading crypto coin in the market. Since its second ICO in August 2020, the Polkadot price was trading at a fairly steady rate of around $3-$5 per one DOT coin. Then, since the beginning of the year, Polkadot is on a long bullish uptrend rising from $8.72 on January 1st to its current price of $41.07. This represents an annual return of around 465%.

    In April, the coin has reached its all-time high level of $49.80.

    why buy polkadot coin chart

    Polkadot Coin Price Prediction

    Due to the uncertainty that still floats above the cryptocurrency market, predicting the future price of Polkadot is quite a challenge. Currently, the cryptocurrency market is very volatile and cryptocurrency prices can change very quickly. For example, at the time of this writing, the Polkadot price has dropped nearly 15%, largely due to Elon Musk’s announcement and the Bitcoin sell-off that started during the previous week. But then, it gained around 13% and is currently trading at $41.07 per one Polkadot crypto.

    In general, predicting price movements in the cryptocurrency market is a tricky task. Thus, these Polkadot price predictions can be used as a price target if DOT’s price keeps rising rather than an incentive to enter into a position.

    Nonetheless, many analysts in the crypto market predict that Polkadot could hit $100 by the end of the year, and around $500 in 2025.

    Polkadot vs Dogecoin

    Polkadot is certainly one of the most attractive digital assets in the market right now. And, it seems like DOT is an excellent long term investment due to the value of its technology and what it might bring to the development of the crypto market and particularly, the blockchain technology. So, if you are looking for a coin that might rise in value in the long term, then Polkadot is a smart choice.

    That said, Polkadot is not as attractive to investors as other coins like Dogecoin. And, as long as it’s not becoming a mainstream coin, it would be a challenge to predict the next move. Dogecoin, on the other hand, is not the best long-term investment as it is not really clear what its usage and key points. However, if you are looking for a short-term speculative asset, then Dogecoin is, in fact, one of the best assets in the financial market these days.

    Investing in Polkadot vs Trading Polkadot Coin

    Like any other financial instrument, you can make a long-term investment in a DOT coin or use this coin for short-term speculation. For that matter, you need to make sure you choose an asset with enough liquidity so you can make profits from small price fluctuations and that you’ll always find other market participants in the chosen market. DOT crypto coin has a daily average volume of $2-$5 billion, which makes it a good asset for day trading and scalping strategy.

    With that in mind, unlike other altcoins in the crypto market, Polkadot seems to be one of the best long-term cryptocurrency investments, largely due to the sophisticated technology that can make blockchain networks much more efficient and useful.

    Best Polkadot Wallets

    If you have decided to buy Polkadot coin directly from a crypto exchange and not in the form of derivatives (futures, CFDs, options, etc), then you need a crypto wallet to safely store your coins. Fortunately, most crypto exchanges offer you to store your coins on a built-in wallet that is part of the platform. Your digital coins are, therefore, stored on the exchange’s corporate wallet and as such, you need to ensure you use all the protection measures you can take in order to prevent any hacking or other cyber attacks.

    From our research, the eToro money wallet wins the first round of the best hot wallet battle. This is because it supports 150 cryptocurrencies, 500 cryptocurrency pairs, and is the most easy-to-use wallet application. Further, you can exchange tokens directly on the wallet so you won’t have to send and receive cryptos in and out of the wallet when you want to sell your assets or buy new coins.

    eToro wallet

    Binance is also offering an excellent crypto wallet, known as the Binance Trust Wallet. This wallet has never had a major hacking and is considered among the safest hot wallets in the market. It also comes with lots of features and does not require another installation – it is a built wallet inside the Binance DEX application.

    Finally, another option that is much safer (but is not very convenient) is to store your crypto coins on a hardware wallet, also known as a cold wallet. This is simply an external device that connects to your computer (like USB), and therefore, is not connected to any internet network.

    Capital.com – Best Way to Buy Polkadot

    In summary, Polkadot is, without a doubt, one of the most promising projects in the crypto sphere. When we look ahead – if the Web3 Foundation succeeds to achieve its future goals, the Polkadot price is expected to continue rising over the long term.

    After reading this guide, you now have the necessary information on how and where to buy Polkadot crypto. Platforms like Capital.com, eToro, and Binance offer you the best-trading experience and most importantly, the safest way to buy DOT coin.

    eToro - Our Recommended Crypto Platform

    Our Rating

    eToro exchange
    • ASIC, CySEC and FCA regulated - 20 Million Users Worldwide
    • Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort
    • Free Demo Account, Social Trading Community
    • Free Secure Wallet - Unlosable Private Key
    • Staking Rewards for holding ETH, ADA or TRX
    • Copytrade Winning Crypto Traders - 83.7% Average Yearly Profit
    eToro exchange
    68% of retail investor accounts lose money when trading CFDs with this provider.

    FAQs

    Should I buy Polkadot Coin?

    Polkadot coin is certainly one of the most attractive coins in the market right now. The ability to connect different blockchain networks and to enable users to create a custom blockchain using the Substrate framework - are services that can revolutionize the cryptocurrency market. As such, if you believe that blockchain can change the world, then the Polkadot crypto is one of the best investment you can make.

    Where can I buy Polkadot Coin?

    Polkadot is a popular cryptocurrency so you most likely be able to find many crypto exchanges and online platforms that support this coin. From our research, the best platform to buy DOT include eToro, Capital.com, and Binance.

    Is Polkadot a Good Investment?

    There's no doubt that DOT is a much better investment than other altcoins like Dogecoin and Terra. Last year, Polkadot was one of the most successful cryptocurrencies and the excitement about Polkadot so far comes mainly from developers and tech experts. This makes Polkadot a great long term investment due to its position as the leading blockchain protocol in the world.

    How much Polkadot Coin should I buy?

    Well, that depends on the amount of investment, your goals, and risk. That said, you need to take into consideration that you can buy Polkadot coins with leverage, meaning you do not need to own the full amount of the position. For example, if you are using Binance to buy DOT/USDT, you can utilize a leverage ratio of 10:1.

    What is Polkadot Stock?

    Polkadot is not a public listed company but it offers shares to the public in the form of tokens. As such, you cannot buy Polkadot stock but you can invest in the company by buying its DOT coins.

    How much is Polkadot coin worth?

    At the time of writing, Polkadot's coin is worth $36.72, which equates to a market cap of roughly $38 billion.

    Will Polkadot coin go up?

    Currently, every cryptocurrency out there is still closely correlated to the movements of Bitcoin, and not many investors understand the value of each coin. Polkadot has a real value and it can absolutely change the way blockchains will work in the future. The only factor that remains to be seen is whether Polkadot will see adoption by large businesses in the future. If that happens, the DOT coin is obviously expected to keep growing.

    Can I buy Polkadot on Coinbase

    No. At the time of writing, Polkadot crypto is not supported by Coinbase. Even though you can view Polkakdot on Coinbase, the DOT Coinbase trading is not yet available. There are some speculations that Polkadot will be listed on Coinbase in late 2021, or early 2022.

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