A Step-by-Step-Guide on how to buy Polkadot (DOT) in Dominica
Step 1 – Join CEX.io In the beginning you'll need to buy units of the major coins. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click below for registration and receive your first Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transmit Your Ethereum (ETH) or Bitcoin (BTC) to an Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Polkadot (DOT) is accessible on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this how-to) Make sure you've selected the exact coin you would like to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. If you are working 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 verified, you will immediately have access to your finances and you can initiate invest and trading. To buy (DOT) Polkadot on Binance, you'll want to go to the “Exchange” tab and mouse click on “Basic”. To spot (DOT) Polkadot, you'll need to put the shortname of the coin (DOT) into the search-box, which is marked in the picture. Make sure you have selected the proper pairing, we have highlighted this also. Click on “DOT/BTC” to go ahead.
Step 4 – Purchase (DOT) Polkadot As soon as you have spotted Polkadot (DOT), you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). For now we're going to create our own Limit Order. The field with the “Price” tag will be filled with the most latest rate Polkadot (DOT) was traded for. This can be changed to your desired price. The “Amount” field is the quantity of DOT you wish to buy. The “Total” field is the whole price in BTC that you will pay for the whole quantity of DOT. When you are satisfied, make a mouse click on “Buy DOT”. Your plan will be filled as soon as a Vender sells their DOT for the price you offered.
Step 5 – Withdraw (DOT) Polkadot Unless you're frequently trading, you should never keepyour crypto coins on an Exchange for an extended time period. In order to take off your (DOT) Polkadot, go to the “Funds” tab and mouse click on “Withdraw”. Polkadot (DOT) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Polkadot (DOT) by using the given drop-down box. Enter the amount of Polkadot (DOT) you would wish to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have filled your right withdraw address. If you are glad, make a mouse click on “Submit”. You could be requested for verfication via phone/email before a withdrawal.