A Step-by-Step-Guide on how to buy Polkadot (DOT) in Tanzania
Step 1 – Signup to Kraken You will first need to buy units of the bigger coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Click below to register and to get your first BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Transfer Your BTC (Bitcoin) or ETH (Ethereum) to an Exchange Your Bitcoin or Ethereum will need to be sent over to an Cryptocurrency 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 Coinbase funds to an Exchange? (Just follow this how-to) Make sure you've chosen the exact coin you want to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you are working with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).
Step 3 – Locate Polkadot (DOT) Once your deposit has been confirmed, you will directly have access to your assets and you can start purchasing and trading. To invest in Polkadot (DOT) on Binance, you'll want to hover over the “Exchange” tab and after that click on “Basic”. To find Polkadot (DOT), you will need to insert the shortname of the coin (DOT) into the search box, which is marked in the picture. Make sure you have selected the proper pairing, we've highlighted this also. Click on “DOT/BTC” to proceed.
Step 4 – Buying Polkadot (DOT) As soon as you have located Polkadot (DOT), you will be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're going to create our own Limit Order. The “Price” field will be automatically filled with the latest tariff Polkadot (DOT) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the amount of DOT you like to buy. The “Total” field is the aggregated price in BTC that you'll settle for the whole quantity of DOT. When you are happy, click on “Buy DOT”. Your plan will be filled as soon as a Vendor sells their DOT for the price you introduced.
Step 5 – Withdraw Polkadot (DOT) Unless you're regularly trading, you should never keepyour crypto on an Exchange for an extended time frame. To withdraw your (DOT) Polkadot, hover over the tab called “Funds” and click on “Withdraw”. Polkadot (DOT) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Polkadot (DOT) by using the given drop-down box. Drop in the volumen of (DOT) Polkadot you would like to withdraw. Take into account the shown minimus/fees. Also make sure you have entered your precise withdraw address. When you're satisfied, make a mouse click on “Submit”. You could be asked for email/phone verification before a withdrawal.