A Step-by-Step-Guide on how to buy Polkadot (DOT) in Palau
Step 1 – Signup to Kraken You'll first need to purchase units of the top-tier coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Follow the Link below to register and to get your welcome Bitcoin or Ethereum.
Step 2 – Transfer Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Polkadot (DOT) is available on Binance, so we will use that as an sample. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this manual) Make sure you have chosen the correct coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow our how-to).
Step 3 – Find Polkadot (DOT) As soon as your deposit has been approved, you'll immediately have access to your assets and you can start purchasing and trading. To buy Polkadot (DOT) on Binance, you will want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to spot Polkadot (DOT), you will need to insert the short name of the asset (DOT) into the search box, which is marked in the image. Make sure you have selected the right pairing, we have highlighted this too. Click on “DOT/BTC” to advance.
Step 4 – Buy (DOT) Polkadot Once 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 image). For now we are going to create our own Limit Order. The “Price” field will be filled with the most recent tariff (DOT) Polkadot was sold for. This can be changed to your desired price. The “Amount” field is the quantity of DOT you want to buy. The field with the “Total” tag is the aggregated price in BTC that you will settle for the complete quantity of DOT. If you are 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 regularly trading, never keep your crypto on an Exchange for an extensive time period. To withdraw your (DOT) Polkadot, hover over the tab called “Funds” and click on “Withdraw”. Polkadot (DOT) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Polkadot (DOT) by using the provided drop-down box. Drop in the volumen of (DOT) Polkadot you'd like to withdraw. Don't forget the shown minimus/fees. Also make sure you have entered your correct withdraw address. If you're satisfied, click “Submit”. You may be requested for phone/email verification before a withdrawal.