How to Buy Polkadot (DOT) in Canada

A Step-by-Step-Guide on how to buy Polkadot (DOT) in Canada

Step 1 – Signup to Coinbase and get 10$ for free

In the beginning you'll need to purchase units of the bigger coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Follow the Link below to register and to get your first 10 Dollar.

Step 2 – Transfer Your Bitcoin or Ethereum to an Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Polkadot (DOT) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide)

Make sure you've chosen the right coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you're working with a decentralized exchange, like Airswap or DDEX could be different (Just follow our manual).

Step 3 – Find (DOT) Polkadot

As soon as your deposit has been verified, you will now have access to your funds and you can begin invest and trading. To buy (DOT) Polkadot on Binance, you'll want to hover over the “Exchange” tab and after that click on “Basic”.

In order to discover (DOT) Polkadot, you'll need to insert the shortname of the coin (DOT) into the search box, which is marked in the picture. Make sure you have selected the proper grouping, we have marked this too. Click on “DOT/BTC” to progress.

Step 4 – Buying Polkadot (DOT)

Once you've found (DOT) Polkadot, you will be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). Next we're making our own Limit Order.

The field with the “Price” tag will be filled automatically with the most latest tariff Polkadot (DOT) was sold for. You can change this to your desired rate. The “Amount” field is the quantity of DOT you like to buy. The “Total” field is the total price in Bitcoin that you'll pay for the whole amount of DOT.

If you're happy, make a mouse click on “Buy DOT”. Your plan will be filled when a Vender sells their DOT for the price you gave.

Step 5 – Withdraw Polkadot (DOT)

Unless you're trading, never keep your crypto coins on an Crypto Trader for an longer time period. To withdraw your (DOT) Polkadot, hover over the “Funds” tab and mouse click on “Withdraw”. (DOT) Polkadot can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Polkadot (DOT) by using the provided drop-down box. Drop in the volumen of Polkadot (DOT) you would like to take off. Take into account the shown fees/minimums. Also make sure you have filled your right withdraw address.

If you are satisfied, make a mouse click on “Submit”. You may be requested for verfication via phone/email before a withdrawal.

Congratulations! You have successfully bought and stored Polkadot (DOT) in Canada.

That's it!

Withdrawals from Crypto Trader can take anywhere from 1 – 30 minutes (rely on usage of the network). Once you've proved your withdrawal with Ethplorer.io or Etherscan.io and the Polkadot (DOT) is safe inside your wallet, you are done.