How to Buy Polkadot (DOT) in Guernsey

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

Step 1 – Join Kraken

In the beginning you'll need to purchase one of the bigger currencies. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Click the button below to register and to get your first Ethereum or Bitcoin.

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

Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. 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 Trader? (Follow this how-to)

Make sure you have selected the right coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. If you're working with a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).

Binance Signup

Step 3 – Locate Polkadot (DOT)

Once your deposit has been affirmed, you'll immediately have access to your finances and you can launch buying and trading. To invest in (DOT) Polkadot on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”.

To spot Polkadot (DOT), you'll need to insert the cointype (DOT) into the search-box, which is highlighted in the picture. Be certain of having choosen the correct pairing, we've marked this too. Click on “DOT/BTC” to progress.

Step 4 – Purchase Polkadot (DOT)

As soon as you have found (DOT) Polkadot, you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). Next we are creating our own Limit Order.

The field with the “Price” tag will be filled with the latest tariff Polkadot (DOT) was sold for. This can be changed to your favoured rate. The “Amount” field is the quantity of DOT you want to buy. The field with the “Total” tag is the total price in BTC that you will settle for the complete quantity of DOT.

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

Step 5 – Withdraw Polkadot (DOT)

Unless you're trading, never keep your crypto on an Crypto Exchange for an extensive period of time. In order to take off your Polkadot (DOT), hover over the “Funds” tab and click on “Withdraw”. Polkadot (DOT) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (DOT) Polkadot by using the given drop-down box. Put into the quantity of Polkadot (DOT) you would like to withdraw. Don't forget the displayed fees/minimums. Also make sure you have entered your right withdraw address.

If you're satisfied, click on “Submit”. You could be requested for verfication via phone/email ahead of a withdrawal.

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

That's it!

Take offs from Crypto Exchange can durate anywhere from 1 – 30 minutes (rely on network usage). Once you've proved your take off with Etherscan.io or Ethplorer.io and the Polkadot (DOT) is stored in your wallet, you're finished.
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