A Step-by-Step-Guide on how to buy Polkadot (DOT) in Latvia
Step 1 – Signup to Kraken You will first need to buy one of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click the button below to register and getting your first Ethereum or Bitcoin.
Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Trader Your Ethereum or Bitcoin has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Polkadot (DOT) is obtainable on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Exchange? (Follow this manual) Make sure you have selected the right coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so on. If you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).
Step 3 – Locate (DOT) Polkadot As soon as your deposit has been verified, you'll now have access to your finances and you can commence purchasing and trading. To buy Polkadot (DOT) on Binance, you will want to hover over the tab which is called “Exchange” and click on “Basic”. To locate Polkadot (DOT), you will need to put the short name of the asset (DOT) into the search-box, which is marked in the image. Make sure you have choosen the correct pairing, we've marked this also. Click on “DOT/BTC” to continue.
Step 4 – Acquisition of Polkadot (DOT) Once you have discovered (DOT) Polkadot, you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). Next we're creating our Limit Order. The “Price” field will be filled automatically with the most up-to-date price (DOT) Polkadot was traded for. You can change this to your desired price. The “Amount” field is the amount of DOT you want to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll settle for the whole amount of DOT. If you're happy, click on “Buy DOT”. Your plan will be filled as soon as a Vendor trades their DOT for the price you gave.
Step 5 – Withdraw Polkadot (DOT) Unless you're frequently trading, best advise is not to keep your coins on an Crypto Exchange for an extended period of time. To withdraw your (DOT) Polkadot, hover over the “Funds” tab and mouse click on “Withdraw”. (DOT) Polkadot can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find (DOT) Polkadot by using the provided drop-down box. Enter the quantity of Polkadot (DOT) you would wish to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your correct withdraw address. When you're happy, make a mouse click on “Submit”. You may be asked for email/phone verification before a withdrawal.