How to Buy Polkadot (DOT) in Mongolia

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

Step 1 – Join CEX.io

You will first need to purchase one of the top-tier currencies. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Follow the Link below for registration and receive your welcome Ethereum or Bitcoin.

Step 2 – Transmit Your Bitcoin or Ethereum to an Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Polkadot (DOT) is accessible on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow these easy steps)

Make sure you've chosen the exact coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, et cetera. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Locate (DOT) Polkadot

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

In order to find (DOT) Polkadot, you'll need to insert the shortname of the coin (DOT) into the search box, which is marked in the graphic. Make sure you have choosen the right pairing, we've highlighted this too. Click on “DOT/BTC” to go on.

Step 4 – Acquisition of (DOT) Polkadot

As soon as you've found Polkadot (DOT), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). Next we're going to create our Limit Order.

The “Price” field will be filled with the most latest price Polkadot (DOT) was traded for. You can change this to your preferred price. The field with the “Amount” tag is the volumen of DOT you wish to buy. The field with the “Total” tag is the total price in BTC that you'll settle for the complete volumen of DOT.

If you're satisfied, click on “Buy DOT”. Your order will be filled when a Vendor trades their DOT for the price you submitted.

Step 5 – Withdraw (DOT) Polkadot

Unless you are regularly trading, never keep your crypto on an Crypto Exchange for an extensive time period. To take off your (DOT) Polkadot, hover over the “Funds” tab and click on “Withdraw”. (DOT) Polkadot can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find Polkadot (DOT) by using the provided drop-down box. Put into the amount of (DOT) Polkadot you'd wish to withdraw. Take into account the shown minimus/fees. Also make sure you have entered your precise withdraw address.

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

Kudos! You've successfully purchased and stored Polkadot (DOT) in Mongolia.

That's it!

Withdrawals from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you have proved your take off using Ethplorer.io or Etherscan.io and the Polkadot (DOT) is safe within your wallet, you are done.