How to Buy Polkadot (DOT) in Canada

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

Step 1 – Signup to Kraken

You'll first need to buy one of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click the button below for registration and receive your welcome ETH (Ethereum) or BTC (Bitcoin).

Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Exchange now. All exchanges have a deposit form that is similar. Polkadot (DOT) is available on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this manual)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so forth. In the case you are using a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our manual).

Step 3 – Find Polkadot (DOT)

Once your deposit has been confirmed, you will immediately have access to your assets and you can start invest and trading. To purchase Polkadot (DOT) on Binance, you'll want to hover over the “Exchange” tab and click on “Basic”.

In order to discover Polkadot (DOT), you'll need to insert the shortname of the coin (DOT) into the search-box, which is marked in the graphic. Be certain of having selected the right grouping, we have marked this also. Click on “DOT/BTC” to progress.

Step 4 – Purchasing (DOT) Polkadot

Once you've found Polkadot (DOT), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). For now we're creating our Limit Order.

The “Price” field will be filled automatically with the recent valuation Polkadot (DOT) was traded for. This can be changed to your preferred rate. The “Amount” field is the volumen of DOT you wish to buy. The “Total” field is the total price in Bitcoin that you will settle for the complete quantity of DOT.

If you're happy, click on “Buy DOT”. Your order will be filled as soon as a Seller sells their DOT for the price you gave.

Step 5 – Withdraw Polkadot (DOT)

Unless you are frequently trading, never keep your coins on an Crypto Trader for an extended period of time. To take off your Polkadot (DOT), go to the “Funds” tab and click on “Withdraw”. (DOT) Polkadot can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (DOT) Polkadot by using the provided drop-down box. Put into the amount of (DOT) Polkadot you would like to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your right withdraw address.

When you're happy, click on “Submit”. You may be requested for verfication via phone/email before a take off.

Congratulations! You've successfully purchased and stored Polkadot (DOT) in Canada.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (depending on network usage). Once you've proved your take off using Ethplorer.io or Etherscan.io and the (DOT) Polkadot is stored within your wallet, you are all done.