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You can buy Polkadot (DOT) on a cryptocurrency exchange like FTX. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. DOT is the native token of the Polkadot network.|Polkadot is a unique network that allows the transfer of data, money and assets between different blockchains.|Polkadot is different from other networks such as Ethereum because it uses various blockchains instead of smart contracts, allowing developers a more granular approach to design. Here's how to buy Polkadot.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade DOT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Nigeria to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Polkadot.
Once you've created an account, you will need to deposit funds to buy DOT with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy DOT on the following exchanges:
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The easiest way to buy DOT is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying DOT, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Polkadot has been performing recently.
You can keep your DOT on the exchange you purchased it on, or move it to a personal wallet:
The Web3 Foundation, responsible for developing Polkadot, has stated that the DOT token is primarily used for the following, which may influence whether or not you wish to add Polkadot to your portfolio.
Additional information about Polkadot can be found using our DOT analysis tools.
Compare today's price of Polkadot ($9.5 USD) against its all-time-high price of $54.98 USD on 04 November 2021. The closer the bar is to 100%, the closer DOT is to reaching its ATH again.
Disclaimer: Cryptocurrencies, including Polkadot, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DOT is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Polkadot or any other cryptocurrency discussed.
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