How to Buy Polkadot (DOT) in Ecuador

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

Step 1 – Join CEX.io

You will first need to buy units of the major currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click the button below for registration and to get your first Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange

Your Ethereum or Bitcoin will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. Polkadot (DOT) is available on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow these easy steps)

Make sure you've selected the exact coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our guide).

Step 3 – Find Polkadot (DOT)

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

In order to spot Polkadot (DOT), you will need to put the shortname of the coin (DOT) into the search-box, which is marked in the graphic. Be certain of having selected the proper pairing, we have marked this also. Click on “DOT/BTC” to go on.

Step 4 – Buy (DOT) Polkadot

As soon as you have located (DOT) Polkadot, you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). For now we're going to make our Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date tariff Polkadot (DOT) was traded for. You can change this to your preferred price. The “Amount” field is the amount of DOT you like to purchase. The “Total” field is the whole price in Bitcoin that you'll settle for the complete amount of DOT.

If you are happy, click on “Buy DOT”. Your order will be filled as soon as a Vendor sells their DOT for the price you offered.

Step 5 – Withdraw (DOT) Polkadot

Unless you're regularly trading, best advise is not to keep your coins on an Cryptocurrency Exchange for an extended time period. To take off your Polkadot (DOT), 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. Drop in the quantity of Polkadot (DOT) you'd wish to withdraw. Don't forget the displayed minimus/fees. Also make sure you have filled your right withdraw address.

If you are happy, make a mouse click on “Submit”. You may be requested for phone/email verification ahead of a withdrawal.

Kudos! You've successfully bought and safed (DOT) Polkadot in Ecuador.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (rely on usage of the network). Once you have proved your withdrawal using Etherscan.io or Ethplorer.io and the Polkadot (DOT) is stored in your wallet, you are finished.