How to Buy Polkadot (DOT) in Cayman Islands

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

Step 1 – Join Kraken

You will first need to buy one of the bigger coins. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Follow the Link below to register and getting your welcome Ethereum or Bitcoin.

Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Trader

Your Ethereum or Bitcoin has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Polkadot (DOT) is available on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow these easy steps)

Make sure you have selected the right coin you wish to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. If you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our guide).

Step 3 – Locate (DOT) Polkadot

Once your deposit has been verified, you will directly have access to your finances and you can start buying and trading. To invest in (DOT) Polkadot on Binance, you will want to hover over the “Exchange” tab and after that click on “Basic”.

In order to spot (DOT) Polkadot, you will need to insert the cointype (DOT) into the search box, which is highlighted in the picture. Be certain of having selected the right pairing, we have marked this too. Click on “DOT/BTC” to go ahead.

Step 4 – Buy Polkadot (DOT)

As soon as you have found Polkadot (DOT), you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). Next we're going to create our own Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date rate Polkadot (DOT) was traded for. You can change this to your desired price. The field with the “Amount” tag is the quantity of DOT you like to purchase. The “Total” field is the aggregated price in BTC that you'll pay for the whole quantity of DOT.

When you're glad, click on “Buy DOT”. Your order will be filled when a Vendor trades their DOT for the price you gave.

Step 5 – Withdraw Polkadot (DOT)

Unless you're regularly trading, best advise is not to keep your crypto coins on an Cryptocurrency Exchange for an longer time period. In order to withdraw your Polkadot (DOT), go to the “Funds” tab and click on “Withdraw”. Polkadot (DOT) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (DOT) Polkadot by using the given drop-down box. Enter the volumen of Polkadot (DOT) you'd like to withdraw. Take into account the displayed minimus/fees. Also make sure you have entered your precise withdraw address.

When you are satisfied, click on “Submit”. You may be requested for phone/email verification before a take off.

Congrats! You've successfully purchased and safed Polkadot (DOT) in Cayman Islands.

That's it!

Take offs from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you've confirmed your take off using Etherscan.io or Ethplorer.io and the Polkadot (DOT) is stored within your wallet, you're all done.
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