How to Buy Polkadot (DOT) in Faroe Islands

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

Step 1 – Signup to Coinbase and recieve 10$ for free

You'll first need to purchase units of the top-tier currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click the button below for registration and getting your first 10$.

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

Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is similar. Polkadot (DOT) is available on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to)

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etc. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow these easy steps).

Step 3 – Locate (DOT) Polkadot

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

To locate (DOT) Polkadot, you will need to insert the short name of the asset (DOT) into the search-box, which is marked in the graphic. Be certain of having selected the right pairing, we've marked this too. Click on “DOT/BTC” to proceed.

Step 4 – Acquisition of Polkadot (DOT)

After you've spotted 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 “Price” field will be filled automatically with the up-to-date valuation (DOT) Polkadot was sold for. This can be changed to your desired rate. The field with the “Amount” tag is the volumen of DOT you want to purchase. The “Total” field is the aggregated price in Bitcoin that you will pay for the whole amount of DOT.

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

Step 5 – Withdraw Polkadot (DOT)

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

Find Polkadot (DOT) by using the given drop-down box. Drop in the amount of (DOT) Polkadot you'd like to take off. Don't forget the presented fees/minimums. Also make sure you have entered your right withdraw address.

When you are happy, make a mouse click on “Submit”. You could be requested for email/phone verification before a withdrawal.

Congrats! You've successfully bought and stored (DOT) Polkadot in Faroe Islands.

That's it!

Take offs from Crypto Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). Once you have proved your take off using Ethplorer.io or Etherscan.io and the Polkadot (DOT) is safe inside your wallet, you are all done.