How to Buy Polkadot (DOT) in Singapore

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

Step 1 – Join Kraken

You'll first need to purchase units of the bigger coins. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below to register and to get your welcome Bitcoin or Ethereum.

Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange

Your Ethereum or Bitcoin will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Polkadot (DOT) is accessible on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow this manual)

Make sure you've selected the right coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etcetera. If you're using a decentralized exchange, like Airswap or DDEX could be unlike (Follow these easy steps).

Step 3 – Find (DOT) Polkadot

As soon as your deposit has been confirmed, you'll now have access to your finances and you can initiate purchasing and trading. To buy Polkadot (DOT) on Binance, you'll want to hover over the tab which is called “Exchange” and mouse click on “Basic”.

In order to locate Polkadot (DOT), you will need to put the shortname of the coin (DOT) into the search-box, which is highlighted in the image. Be certain of having selected the right grouping, we've marked this too. Click on “DOT/BTC” to progress.

Step 4 – Buy (DOT) Polkadot

After you have discovered (DOT) Polkadot, you'll be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). And now we are going to create our Limit Order.

The “Price” field will be filled automatically with the most recent valuation (DOT) Polkadot was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the volumen of DOT you wish to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will pay for the whole amount of DOT.

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

Step 5 – Withdraw Polkadot (DOT)

Unless you are trading, you should never keepyour crypto coins on an Exchange for an longer time frame. In order to take off your Polkadot (DOT), go to the tab called “Funds” and click on “Withdraw”. Polkadot (DOT) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (DOT) Polkadot by using the given drop-down box. Enter the volumen of Polkadot (DOT) you would like to take off. Take into account the displayed minimus/fees. Also make sure you have entered your right withdraw address.

If you're satisfied, click “Submit”. You may be requested for phone/email verification ahead of a withdrawal.

Kudos! You have successfully purchased and stored (DOT) Polkadot in Singapore.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (depending on usage of the network). Once you have confirmed your withdrawal with Etherscan.io or Ethplorer.io and the Polkadot (DOT) is safe in your wallet, you are all done.