Dusseldorf The cryptocurrencies Bitcoin and Ether are the big coins on the crypto market. But in the past few weeks, the prices of small coins such as Cardano or Polkadot (DOT for short) – so-called altcoins – have increased in particular. But if investors want to invest in Polkadot, they will be disappointed on some crypto platforms. Not all offer buying and selling of polkadot (DOT). In the ranking of the largest cryptocurrencies in 2021 by market capitalization, DOT is now in ninth place behind Bitcoin, Ethereum, Cardano and Co ..
What actually is polkadot (DOT)?
The cryptocurrency Polkadot was designed by Ethereum co-founder Gavin Wood in 2017. Polkadot means dabbing in German, which is reflected in the logo. Like many other cryptocurrencies, cyper currency is based on blockchain technology. The difference with DOT is that different blockchains can be linked together. This creates a network in which different blockchains can communicate with each other, even if they basically run independently of each other.
Where can I buy and trade polkadot?
Investors can buy, sell and exchange their cryptocurrencies on so-called crypto exchanges. These are digital trading platforms on which cryptocurrencies can be bought. The price of a coin is classic, like on the stock exchange, based on supply and demand. Polkadot (DOT) is available at the following crypto exchanges:
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There are even more crypto exchanges where Bitcoin and Ethereum can be bought and traded. But these currently do not offer polkadot. More on the subject: Exchanges at a glance – which crypto exchanges are suitable for buying Bitcoin and Co.?
Do I have to register to buy Polkadot (DOT)?
Yes. In order to trade on a digital trading platform with Polkadot, investors must first create and set up an account on the chosen crypto exchange. Here the stock exchanges are subject to the Banking Act, so customers have to verify. Once the registration process has been completed, funds can be deposited and trading can begin.
However, one should consider the trading fees. With some exchanges, it makes a significant difference whether the purchase is debited directly via credit card or whether money must first be transferred to the depot, which can then be used to buy the coins. Depending on the amount of the fees, the investment is more worthwhile in the long term than for short trades.
Buy and trade polkadot – this is how it works:
In order to buy, sell and trade Polkadot (DOT), investors should consider the following points:
- First of all, investors should choose a suitable crypto platform on which the desired coins are available for trading.
- Numerous crypto platforms such as Coinbase are constantly expanding their range of tradable values.
- First, money, such as euros or dollars, must be deposited on the trading platform before you can buy Polkadot.
- In addition, cryptocurrencies held ready can also be converted directly into the corresponding equivalent in polkadot – for example into Bitcoin.
How is the Polkadot course current?
With a market capitalization of more than $ 24 billion (As of August 25th) Polkadot is now the ninth largest cryptocurrency. Since mid-July 2021, the coin dot has increased by more than 130 percent. According to Coinmarketcap, the Polkadot price is currently $ 25.44 per coin.
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