How to Buy Polkadot (DOT) in South Africa

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

Step 1 – Signup to Kraken

You will first need to buy one of the major currencies. Exchanges usually accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click below for registration and getting your welcome Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Transmit Your Ethereum or Bitcoin to an Crypto Exchange

Your Bitcoin or Ethereum has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Polkadot (DOT) is obtainable on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this manual)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so on. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Find Polkadot (DOT)

Once your deposit has been approved, you will instantly have access to your assets and you can begin buying and trading. To invest in Polkadot (DOT) on Binance, you will want to hover over the tab which is called “Exchange” and after that click on “Basic”.

In order to spot (DOT) Polkadot, you'll need to put the cointype (DOT) into the search-box, which is highlighted in the graphic. Be certain of having selected the right pairing, we've marked this also. Click on “DOT/BTC” to proceed.

Step 4 – Purchasing Polkadot (DOT)

After you have spotted (DOT) Polkadot, you will be presented with a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we are making our Limit Order.

The field with the “Price” tag will be automatically filled with the most recent tariff Polkadot (DOT) was traded for. You can change this to your preferred rate. The “Amount” field is the amount of DOT you wish to purchase. The “Total” field is the whole price in Bitcoin that you'll settle for the complete quantity of DOT.

If you are satisfied, click on “Buy DOT”. Your order will be filled when a Vendor sells their DOT for the price you gave.

Step 5 – Withdraw (DOT) Polkadot

Unless you are regularly trading, you should never keepyour crypto on an Exchange for an longer time period. In order to withdraw your (DOT) Polkadot, hover over the “Funds” tab and click on “Withdraw”. Polkadot (DOT) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (DOT) Polkadot by using the provided drop-down box. Drop in the quantity of Polkadot (DOT) you would wish to withdraw. Take into account the shown minimus/fees. Also make sure you have entered your right withdraw address.

If you are glad, make a mouse click on “Submit”. You could be asked for verfication via email/phone ahead of a take off.

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

That's it!

Withdrawals from Crypto Trader can take anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have confirmed your take off using Etherscan.io or Ethplorer.io and the (DOT) Polkadot is safe within your wallet, you are finished.
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