Polkadot’s popularity among investors has astonished fans of other cryptos such as Ethereum, Cardano, and Binance Coin. Experts believe it has the potential to dethrone numerous cryptocurrencies in the near future, given its promising prospects.
What makes Polkadot special and different from other currencies is its interoperability which allows the cross-chain sharing of any data, asset, tokens, or any other thing. This platform has its native token, DOT, which facilitates network governance, and creates parallel chains through bonding.
Polkadot price chart on Coinbase
The year 2021 has been the witness to the true potential of this crypto as it registered the growth of over 400% in its price value. With its features of interoperability and faster chains, Polkadot is enticing many investors towards itself.
If you are also planning to invest in Polkadot, you will need a Polkadot wallet to keep your DOT tokens secured. Going ahead, we will review the best Polkadot wallets in the UK, and help you in finding out the right one for you.
4 Best Polkadot wallets in the UK
- Best Wallet – Popular wallet option hosting a variety of features
- eToro Money Wallet – Supports DOT and 120+ other cryptos
- Binance Trust Wallet – User-friendly and multi-crypto wallet
- Coinbase Wallet – Most popular exchange by no. of users
The availability of many crypto wallets in the market has made it difficult for every user to find the best Polkadot wallet. That is why, we have listed out the best Polkadot wallets for you based on their high-security standards, privacy, easy-to-use interface, accessibility, and other important features.
Where to Buy and Hold Polkadot in May 2024
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- Most regulated
- Free demo account available
- Copytrade winning investors
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- Maker rebate on limit orders
- DeFi mining
- Margin and spot trading
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- Most altcoins supported
- 75+ staking coins
- Low maker / taker fees
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- Low marketcap altcoins
- 500 USDT Welcome Gift
- Spot and margin trading
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Best Polkadot wallets in the UK
Finding it difficult to choose the best Polkadot wallet for you? Don’t worry, just read our reviews on some really good Polkadot wallets and choose the right one for you.
Best Wallet
Since Polkadot is a large-cap but volatile crypto, you may need direct access to your DOT tokens at any given time. In fact, you might even need to buy or sell them in quick intervals. This is where Best Wallet comes in as the best available option right now. It is a recently launched entity and is still making waves in the industry, thanks to its growing suite of features.
The platform is set to launch a portfolio management system, which means that users will have direct access to their stats in terms of their investments. They can see in real-time how well their DOT tokens are performing, while also keeping track of their purchase amounts, timing, and much more.
As mentioned before, one may need complete access to their DOT tokens at all times. Well, Best Wallet has its own DEX called the Best DEX, which can also be used to swap tokens at any time. Using this DEX has also been incentivized by the company, as users will have a chance to receive the BEST airdrop, which is the planned airdrop for distributing the platform’s native token to users.
It also offers real-time trading elements, including market and token sentiments, industry insights, and other important updates. Additionally, users can expect to potentially find a section dedicated to providing information about upcoming token listings, trending tokens, and upcoming airdrops. All these elements make Best Wallet the top Polkadot wallet in 2024 and an option suitable for both new and experienced crypto enthusiasts.
- Supports multiple cryptocurrencies
- Features an in-house DEX
- Has airdrop opportunities
- Multi-chain supported
- Lets users interact with Web3 elements
- Is a relatively new wallet, which means fewer user reviews to confirm authenticity
Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
eToro Money Wallet
Often considered as the best crypto wallet for keeping your Polkadot safe, the eToro Money wallet is well regulated by Gibraltar Financial Service Commission. You can keep your Polkdatot coins protected in a secured digital location through the help of this wallet. The wallet keeps your favorite cryptos protected by using the highest security standards.
For instance, its security standards are having features like two-factor authentication, different levels of encryption, multi-signature, and much more. To ensure that your private keys are not stolen, this wallet does not provide you with their access.
Apart from storing service, this wallet provides you the facility of transferring your Polkadot coins from the eToro trading platform, receiving your digital assets from other wallets, and a conversion feature that could convert any cryptocurrency to your favorite crypto.
If you have a diverse portfolio, then eToro money wallet is the best choice for you as it allows you to keep the track of your investment portfolio, and gives you necessary trade-related updates.
Further, this wallet supports multiple cryptocurrencies which allows you to keep your other cryptos secure. eToro Money wallet is also easily accessible to all crypto enthusiasts as it is available for download on both the Play Store for Android devices and the App Store for iOS devices.
In addition to your trade earnings, this wallet can make you earn passive income through cryptocurrency staking. On eToro, you can stake crypto assets like ETH, ADA, and earn income from holding them over a while. You can have your account on eToro by visiting this link.
Furthermore, if you have any problems or difficulties when utilizing any of the wallet’s features, customer service will always be available to assist you.
Considering all features, the eToro Mobile wallet is the perfect one for you to keep your Polkadot coins safe and secure.
- Highly secure crypto wallet
- Great customer service
- Well-regulated by Gibraltar Financial Service Commission
- Transfer of cryptocurrencies may sometimes take time
Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Binance Trust Wallet
This open-source, decentralized crypto wallet is a treat for all those crypto lovers who want to enjoy blockchain games, and access all-new DApps and DeFi platforms in a single place. It supports over 100 cryptocurrencies and allows traders to earn some money or rewards through crypto staking.
Having a base of over 5 million users worldwide, Binance trust wallet ensures that your Polkadot coins are kept safe from any hack, glitches, scams, etc. To enhance its security standards, Trust wallet conducts regular audits of its safety protocols. The app has an additional layer of security through the features of fingerprint scanning or pincode scanning.
It has a simple interface for all its users and is easily available for download from the Play Store on Android devices and the App Store on iOS devices. Moreover, this wallet does not charge any subscription fees or initial fees from its users. You can also have your account on Binance by visiting this link.
- Stores many cryptocurrencies safely
- Allows crypto staking
- Easily accessible
- Less secure than hardware wallets
Coinbase Wallet
One of the best crypto exchanges in the world, Coinbase also offers wallet services to all its users. Known for its safety, the Coinbase wallet allows the storage of many cryptocurrencies online. This wallet allows its users to interact with dApps on the Bitcoin and Ethereum network and gets easily linked with dApp browsers.
Packed with robust security mechanisms, Coinbase wallet safely manages the private keys of its users and keeps the crypto wealth of its users into their devices. Coinbase offers industry-leading security features like Secure Enclave, biometric authentication, and optional cloud backups to keep your private keys safe in its crypto wallet.
Moreover, one does not need to have an account on Coinbase in order to use this wallet. Nonetheless, the transfer of funds becomes easier in case your Coinbase account is linked with your wallet. Further, it can be linked with crypto-friendly bank accounts. If you want to store your Polkadot coins, other digital assets, and NFTs in a single place, then the Coinbase wallet is an ideal pick for you. You can access Coinbase by visiting this link.
- Supported by one of the best crypto exchanges in the world
- Highly advanced security standards
- Store digital collectibles like NFTs
- Has high compliance features
What is a Polkadot wallet and how it works?
Unlike fiat currencies, you can’t keep your Polkadot coins physically in your wallet. That is where Polkadot wallets come into the picture. Remember, whenever you purchase these coins, you are provided with some cryptographic information.
This information is usually in a form of complex codes. Polkadot wallets store these codes in the form of private keys and provide necessary access to these keys whenever any transaction takes place on the blockchain. In the same way, the Polkadot wallet allows you to buy, sell, transfer your favorite coins.
Since private keys are the most confidential part of your crypto transaction, you are never required to share them with anyone as any negligence on your part could lead to the stealing of your Polkadot coins.
As private keys prove your ownership of the Polkadot coins, you should always trust those crypto wallets that could keep these keys secure from any external attacks, otherwise, you will stand a chance of losing your entire Polkadot investment in case you lose these keys.
This is why, we recommend you the trusted wallets like eToro money wallet, which could keep your confidential information protected in every circumstance.
What types of Polkadot wallets are there?
With the increase in popularity of Polkadot in the crypto industry, we are seeing many different types of Polkadot wallets coming up in the market. However, broadly, these wallets could be classified into three types: software, hardware, and exchange wallets.
Software wallets
From the name itself, it is clear that these wallets are easily installed or downloaded on your devices in the form of an application or any other program. Generally, software wallets could be in form of a mobile wallet, web wallet, or desktop wallet.
Mobile wallets are useful for those crypto enthusiasts who love to experience crypto trading on their smartphones or tablets. You can easily download these wallets on your mobile phones, and store your Polkadot coins safely.
Some of the mobile wallets keep the control of private keys in the hands of users and make users responsible for saving and managing those keys. Similarly, some mobile wallets are also connected with crypto exchanges and provide you with some additional features apart from storage services.
On the other hand, there are desktop wallets that are designed for PC users. These wallets offer cold storage security services for protecting your Polkadot coins. Some of the famous desktop wallets are Best Wallet, MetaMask, Electrum, and Exodus.
Hardware wallets
Unlike software wallets, hardware wallets exist in the physical form. These crypto wallets store the private keys of your Polkadot coins in offline hardware and provide you more security when compared with a usual software wallet.
You can buy Polkadot coins from the crypto market, and keep them secure in a hardware wallet. Generally, hardware wallets get connected with your computer system through a USB or any other device and store the private keys of your cryptocurrencies. Once the process is completed, users can remove them from their devices.
Always remember the security keys of your hardware wallets to avoid inconvenience while accessing Polkadot coins. Though there is a risk of losing hardware wallets physically, these wallets are popular among beginners as they provide more security to crypto assets. Ledger and Trezor are some of the renowned companies involved in the manufacturing of these wallets.
Exchange wallets
Nowadays, many crypto exchanges or brokers are also providing storage services for cryptocurrencies through the offering of their crypto wallets. Usually, these wallets automatically save your Polkadot coins when you buy them from their trading exchange.
Exchange wallets are considered best for beginners as, unlike hardware wallets, there is no risk of losing them. Further, the fact that crypto exchanges are well regulated by top global authorities increases the reliability of exchange wallets in the eyes of investors.
As Mt Gox was famously hacked in 2014, it was previously advised not to store coins on an exchange. However, those customers are now being compensated, and eToro has been around since 2006 with no such incidents.
Well-regulated exchange wallets like Binance Trust wallet, Coinbase wallet, and eToro money wallet have highly advanced security mechanisms at their place, which make them the best option for you to store Polkadot coins.
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etoro
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What makes a good Polkadot wallet?
Now, we will figure out the essential features of a good Polkadot wallet, which will make it easy for you to choose the right Polkadot wallet from multiple crypto wallets available in the market.
High-level security system
The most important feature of any crypto wallet is its high-security standards. A good Polkadot wallet will have a good security system to keep your favorite crypto safe with its additional layers of security.
Storage of many cryptocurrencies
Nowadays, many investors diversify their investment portfolios by investing in various crypto coins. For these investors, it is highly inconvenient to have separate wallets for different cryptocurrencies. That is why, it is important to have a crypto wallet, which allows the facility of storing multiple cryptocurrencies in one place.
Low fees
A good Polkadot wallet will always have low subscription fees, transaction fees, or initial fees so that it does not make storage services expensive for its users.
Simple interface
Every good Polkadot wallet has a simple-to-use interface for its users which allows easy navigation to all its users throughout its platform.
Highly accessible
Crypto wallets should be easily accessible to all their users. For instance, they could be available for download on both the Play Store for Android devices and the App Store for iOS devices.
Other services
The use of a good Polkadot wallet is not limited to just keeping your Polkadot coins safe. Exchange wallets like eToro Money wallet, Binance Trust wallet and Coinbase wallet give additional services to all their users by storing their NFTs, crypto-staking, giving them access to blockchain games, and a lot more.
How to buy Polkadot?
Having generated a return of over 400%, Polkadot coins have already invited the attention of investors. Polkadot aims to establish a network where blockchains could be connected easily with one another.
Experts have even gone to the extent of calling Polkadot the “Ethereum killer”. If you are excited about the Polkadot network and want to reap the benefits out of its bright prospects, then you just have to buy Polkadot by following these simple steps:
Make your account on the eToro platform
The first step would be to make your account on eToro by registering on its platform. Visit the official site of eToro, and click on the “Join Now” button. You will land on the signup page, where you would be required to provide some important details like name, email, address, etc. Make your account by giving all those details, or alternatively, you could register through your account on Google or Facebook.
Complete the know-your-customer (KYC) process
After getting your account on the eToro platform, you are supposed to complete the mandatory KYC process. Submit your valid ID proof along with any utility bill to confirm your residential address. Once you have uploaded the necessary documents, your account will be verified within a few minutes.
Deposit funds in your account
Once you have completed the KYC process, deposit the necessary funds in your account to make the transaction. Every region is having a different amount in the form of minimum deposits on the eToro platform. This trading platform gives you a variety of payment options to deposit money. For instance, you can deposit funds in your account through debit/credit cards, bank transfers, PayPal, etc.
Buy Polkadot coins
Having completed the above process, now it’s time to buy Polkadot coins. Go to the search bar, and type the name of your favorite crypto. Click on the trade button, and provide the details regarding how much worth of Polkadot coins you want to buy. Fill in all the necessary details, and tap the “Open Trade” button for completing the transaction.
Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Conclusion
We understand that the availability of a plethora of crypto wallets in the market makes it really difficult for you to make the right choice. To make things simple for you, we would recommend you always choose those Polkadot wallets which provide you with the best possible security standards with an additional layer of protection.
If this requirement of security standards gets fulfilled, then you can give preference to the wallets, which gives you additional services like access to blockchain games, multi-crypto storage, storage of NFTs, crypto-staking, trade-related updates, etc.
Considering all these criteria, we would recommend you Best Wallet, eToro Money wallet, Coinbase wallet, and Binance Trust wallet, which provide you with these amazing services.
Best Wallet - Manage Your Crypto
- Access DeFi and Web3 Dapps Across Multiple Chains
- Comes With Your Own OpenAI Powered Chat Bot Assistant
- Compatible With iOS & Android
- Get Early Access to Upcoming Token Launches & ICOs
- Store Crypto And NFTs With Industry Leading Security
FAQ
How to buy Polkadot?
You can buy Polkadot from the eToro trading platform by completing a few simple steps. Make your account on the eToro trading platform, complete the necessary KYC process by providing your relevant details, deposit funds in your account, and complete the transaction by buying your favorite crypto.
Where to buy a Polkadot coin?
You can buy Polkadot coins from the best crypto trading platforms across the world, such as exchanges such as eToro, Bybit, Binance, and Coinbase or through DEXs like the Best DEX or Uniswap.
How does Polkadot work?
Polkadot is a network platform that allows the transfer of data across blockchains. With its interoperability, Polkadot allows you to operate with a wide variety of blockchains.
