How to Buy Polkadot (DOT) in Cyprus

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

Step 1 – Join Kraken

In the beginning you'll need to purchase units of the top-tier coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click the button below for registration and to get your first ETH (Ethereum) or BTC (Bitcoin).

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

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Polkadot (DOT) is available on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this how-to)

Make sure you have chosen the exact coin you want to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etcetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our guide).

Step 3 – Locate Polkadot (DOT)

Once your deposit has been affirmed, you will now have access to your assets and you can commence buying and trading. To invest in Polkadot (DOT) on Binance, you will want to hover over the tab which is called “Exchange” and after that click on “Basic”.

To discover Polkadot (DOT), you will need to put the shortname of the coin (DOT) into the search box, which is marked in the picture. Make sure you have choosen the correct pairing, we've highlighted this also. Click on “DOT/BTC” to continue.

Step 4 – Purchasing (DOT) Polkadot

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

The field with the “Price” tag will be filled automatically with the most latest price Polkadot (DOT) was traded for. You can change this to your favoured price. The “Amount” field is the volumen of DOT you like to purchase. The “Total” field is the aggregated price in BTC that you will pay for the complete volumen of DOT.

If you are glad, make a mouse click on “Buy DOT”. Your plan will be filled when a Vendor sells their DOT for the price you offered.

Step 5 – Withdraw (DOT) Polkadot

Unless you're trading, never keep your coins on an Cryptocurrency Exchange for an extended period of time. In order to withdraw your Polkadot (DOT), go to the “Funds” tab and mouse click on “Withdraw”. (DOT) Polkadot can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (DOT) Polkadot by using the provided drop-down box. Put into the amount of (DOT) Polkadot you'd wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your correct withdraw address.

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

Congratulations! You have successfully purchased and stored Polkadot (DOT) in Cyprus.

That's it!

Withdrawals from Crypto Trader can take between 1 – 30 minutes (depending on network usage). As soon as you have proved your take off using Ethplorer.io or Etherscan.io and the (DOT) Polkadot is stored within your wallet, you are all done.
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