How to Buy Polkadot (DOT) in Guernsey

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

Step 1 – Join Coinbase and recieve 10$ for free

You will first need to buy one of the top-tier coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below to register and getting your first 10 Dollar.

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

Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Crypto Trader 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 Coinbase funds to an Crypto Exchange? (Just follow this manual)

Make sure you've chosen the correct coin you would like to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. If you are working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Find (DOT) Polkadot

Once your deposit has been confirmed, you'll immediately have access to your finances and you can initiate purchasing and trading. To invest in Polkadot (DOT) on Binance, you will want to hover over the tab which is called “Exchange” and then click on “Basic”.

To locate Polkadot (DOT), you will need to put the cointype (DOT) into the search-box, which is marked in the graphic. Make sure you have choosen the correct pairing, we have marked this also. Click on “DOT/BTC” to go ahead.

Step 4 – Purchase (DOT) Polkadot

After you've found Polkadot (DOT), you will be given a Price Chart (in the Center of the picture) and some Order Books (on the Left of the image). Next we are making our Limit Order.

The “Price” field will be filled with the most up-to-date valuation (DOT) Polkadot was sold for. This can be changed to your preferred price. The “Amount” field is the amount of DOT you wish to buy. The field with the “Total” tag is the whole price in BTC that you will settle for the complete quantity of DOT.

When you're satisfied, click on “Buy DOT”. Your order will be filled as soon as a Vender trades their DOT for the price you submitted.

Step 5 – Withdraw Polkadot (DOT)

Unless you're trading, best advise is not to keep your crypto on an Exchange for an extended time period. 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 given drop-down box. Drop in the volumen of (DOT) Polkadot you'd like to take off. Take into account the displayed fees/minimums. Also make sure you have filled your correct withdraw address.

When you're happy, click on “Submit”. You may be requested for verfication via email/phone before a withdrawal.

Kudos! You've successfully bought and stored Polkadot (DOT) in Guernsey.

That's it!

Take offs from Crypto Exchange can durate between 1 – 30 minutes (rely on network usage). As soon as you have confirmed your withdrawal with Etherscan.io or Ethplorer.io and the Polkadot (DOT) is stored in your wallet, you are all done.