Where and How to Buy Polkadot in 2022 – A Beginner’s Guide

Where to buy Polkadot

Below are the popular crypto exchanges based on user experience,security,fee structure and supported coin, that you can use to purchase Polkadot (DOT) in 2022.

Before moving forward i want to make it clear that the ranking of these exchanges are in no particular order. With that in mind - Let’s explore these crypto platforms one by one so that you can select the best cryptocurrency exchange to buying your Polkadot.

1. Binance

Binance is well-known for its cryptocurrency-to-cryptocurrency trading services. Binance came onto the scene during the 2017 crypto craze and has since risen to become the world's leading cryptocurrency exchange. 

By trading volume, Binance is the world's largest online cryptocurrency exchange. The exchange is also one of the most rapidly growing venues in the cryptocurrency market today. You can easily buy and sell Polkadot (DOT) using our step by step guide.

The exchange offers investors one of the most diverse selections of cryptos accessible on the market today. The currencies and tokens on sale range from the markets largest by market cap to some smaller and less well-known coins and tokens.

Binance Features

1. Binance trading has some of the lowest costs in the business.
2. On Binance, you can trade over 180 cryptocurrencies.
3. The exchange is available through online and mobile apps for Android and iOS, as well as desktop programmes for macOS and Windows.
4. Binance Futures provides up to 125x leverage while margin trading provides up to 3x leverage.
5. It offers a dedicated help Centre where you may contact the support team or get actual beginning tips and explanations of various exchange operations.
6. It also allows you to make passive income from your crypto assets through staking, crypto lending, and other methods.

Getting Started with Binance

Users must first create an account in order to utilize the exchange. The procedure is quite quick and straightforward, and you do not need to verify your account for level 1, which has a daily withdrawal limit of 2BTC.

For level 2, which enables up to 100BTC every day, you must upload a picture ID and wait for approval. There are still greater restrictions, but you must contact them personally to arrange for them.

Follow the steps below to open a Binance account:

Step 1: Visit the Binance Website

Step 2: Click on the “Register” option in the upper right-hand corner and complete the relevant information. Binance will validate your account details throughout the registration process, which may take a few minutes.

Step 3: Enable 2-Factor Authentication.

Step 4: Select and Link you payment Methods.

Step 5: Deposit and Start trading.

How to buy Polkadot on Binance

Binance has a rich collection of tools and dashboards that might be overwhelming. Its Buy Crypto page makes it easy to cut through the confusion and conduct straightforward transactions. It has a simple interface where you can buy, sell, or convert cryptocurrency.

1. Login to your Binance account and on the homepage click on the “Buy Crypto “Button.

2. You can purchase Polkadot (DOT) using a variety of fiat currencies. Enter the amount of fiat money you wish to spend, and the system will calculate the amount of Polkadot you can acquire.

3. Select the payment method and fill the required information than Continue.

4. Please double-check the payment information and costs, and complete your purchase within 1 minute, otherwise the amount of Polkadot you may get will be adjusted depending on the current market price. 

5. You'll be taken to your bank's OTP Transaction Page. To validate the payment, follow the on-screen instructions. Following that, you will be able to see the acquired DOT in your Binance Spot Wallet immediately.

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2. OKX

OKX crypto exchange, founded in 2017 and headquartered in the Seychelles, is a prominent cryptocurrency exchange that uses blockchain technology to provide clients with a diverse range of trading goods. Hundreds of tokens are available to clients in over 200 countries and you can easily purchase Polkadot (DOT) using our step by step.

It allow users to purchase, sell, and swap multiple supported assets. It also allows you to lend and borrow specific coins, as well as join proof-of-work mining pools and earn crypto as a miner. OKX presently offers over 100 cryptocurrencies, as well as over 400 crypto trading pairings.

According to CoinMarketCap, OKX is now one of the top 20 cryptocurrency exchanges in the world by trading volume, and it has a global presence.

OKX Pros

• Allows the use of a wide range of fiat currencies to establish an account.
• Offers diverse range of services.
• Hundreds of trading pairs with high staking APYs.
• An easy-to-use buy/sell dashboard.
• Online chat tech support that replies promptly.

OKX Cons

• Very Complex fee structure.
• US Citizens are not allowed.
• There are no Demo accounts available.

 

How to buy Polkadot on OKX

Follow our step by step guide below to start buying Polkadot (DOT) on OkX Exchange:

1. Log in to your OKX Account.

2. Under the "Buy" tab, choose the fiat currency you wish to use and Polkadot from the dropdown menu. Then, enter the amount of fiat cash you wish to spend or Polkadot (DOT) you want to purchase.

3. Select your desired mode of payment (Credit Card, Bank Transfer or Crypto).

4. Your bought Polkadot will be instantly deposited to your OKX account after payment is completed.

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3. KuCoin

KuCoin is a cryptocurrency exchange based in the Seychelles. The service provided by KuCoin cryptocurrency exchange is not limited to buying and selling crypto tokens or exchanging crypto tokens for Altcoins or fiat currencies. Furthermore, KuCoin's cryptocurrency loan service at unique interest rates varies from the rest of the world's crypto exchanges.

The platform is straightforward and simple to use. It is organized into stages for simple registration, following which one may begin trading. The number of cryptocurrencies and fiat currencies supported is extremely astounding. Furthermore, KuCoin provides 10x leverage for margin transactions, making it a popular exchange for passive profits.

KuCoin, being a crypto exchange with a global reach, is a practical choice that is accessible from most countries. Nonetheless, because KuCoin is a non-US-based exchange, US persons over the FBAR threshold must disclose it in FBAR filings.

KuCoin Pros

• There are almost 200 cryptocurrencies supported.
• There are several payment options.
• Allows for the conversion of money to cryptocurrency and vice versa.
• Downloading mobile apps for Android and iOS devices is simple.
• Micro withdrawal wallets are now available.
• Trading commission is rather minimal.

KuCoin Cons

• Expensive costs when purchasing cryptocurrency with fiat currency (3 percent -12 percent).
• Fiat currency cannot be withdrawn.

How to buy Polkadot on KuCoin

Do you want to know how to buy crypto on KuCoin? This is also really simple. Follow the steps below to buy Polkadot (DOT) on Kucoin:

1.  Login to your newly created Kucoin Account, go to the Buy Crypto tab from the main menu.

2. After that, you must look for Polkadot to purchase. To do so, type (DOT) or (Polkadot) into the search box on the right side of the page.

3. KuCoin will then provide all of the possible trading pairs for the Polkadot.

4. Enter the amount  of DOT you want to buy in crypto or your local money.

5. Choose a payment method (Credit Card ).

6. To confirm your purchase, click Preview Buy

7. If all of the information is accurate, click Buy to complete your transaction.

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4. Gate.io

Gate.io is a Cryptocurrency exchanges platform that allows you to trade Bitcoin, Litecoin, Eth, and other blockchain assets. Within a few years, the exchange acquired global traction and is today available in virtually every country on the planet. However, the platform is presently not active in China, and its registered office has been relocated to Virginia, USA.

This trading platform not only supports over 800 main cryptocurrencies with over 1,000 trading pairings, but it also offers spot trade and margin trade. It has also expanded its offerings to include ETFs, options, futures, and derivatives for investors. It is primarily a platform for professional traders. Beginners with minimal expertise, on the other hand, will benefit from this platform as well.

Getting Started with Gate.io

Creating an account on Gate.io is pretty simple and straightforward, just follow these simple steps below.

Step 1: Go to the official Gate.io website and click Sign Up.

Step 2: On the next screen, enter your email address, and create a password.

Step 3: Next: You must generate a fund password (This password adds an extra layer to your security as without this key no one can withdraw funds from your account).

Step 4: You will be prompted to confirm your email address.

Step 5: Once you've verified your email, you can simply Login to the site and begin trading!

Note: Due to changing regulations, You might need to go through a KYC process to verify your identity.

How to buy Polkadot on Gate.io

Follow our step by step guide to buy Polkadot (DOT) on gate.io:

1. Log in to your Account on Gate.io.

2. Click Buy Crypto fro main menu located at top bar. Here you will find three ways to buy DOT coin (Credit card, Bank Transfer, P2P Trade).

3. Enter the purchase amount in USD. Now select/search Polkadot from dropdown menu.

4. Incase of Credit card, gate.io offer multiple processing partners, select the one that offer services in your country.

5. Accept the terms and conditions and click Purchase.

Now you are Proud investor in Polkadot (DOT).

If you want to buy Polkadot with another cryptocurrency. First, Transfer that currency into the Gate.io exchange using Deposit method after that go to the market page, search for DOT and buy it using your deposit cryptocurrency.

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5. Coinbase Exchange

If you're searching for a location to exchange cryptocurrency, Coinbase is a good option. Its large range of prominent cryptocurrencies means you'll most likely find what you're looking for, but you'll only be able to trade crypto here.

Clients can receive staking incentives and acquire ownership of their assets themselves. The Pro platform's commissions are competitive, but clients trading small-dollar volumes on its entry-level platform should definitely consider going elsewhere.

Coinbase Exchange Features

1. More than 50 cryptocurrencies are supported.
2. Spread and Coinbase costs are included in trading fees.
3. You can use a free wallet service with private key access, or you can retain your cryptocurrency in your Coinbase account for a $2 minimum purchase or sale.
4. Insured policy against fraud losses and storage of the bulk of digital assets offline.
5. Accounts can be accessed using a web browser or a mobile app.
6. Crypto incentives for studying and an education Centre.
7. Option to upgrade to Coinbase Pro.

How to buy Polkadot on Coinbase Exchange

Follow our step by step guide below to start buying Polkadot (DOT) on Coinbase Exchange:

1. Log in to your Coinbase account.

2. On the upper right-hand side, click Buy / Sell.

3. Select Polkadot from the list of cryptocurrencies and click the Buy button.

4. Enter the amount you want to buy in DOT or your local money.

5. Choose a payment method (Credit card, Bank Transfer or Crypto).

6. To confirm your purchase, click Preview Buy (you can always click the back arrow to make a change).

7. If all of the information is accurate, click Buy to complete your transaction.

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6. Huobi Global

Huobi is one of the world's major cryptocurrency trading platforms, originally located in Beijing but now headquartered in Singapore. The exchange accepts both ICO tokens, cryptocurrencies and highlights the Blockchain economy's future development.

This Exchange has incredible features that appeal to global investors, such as derivative trading. It is a Huobi Global feature that allows you to trade in both futures and swap markets. This function truly assists exchange users in maximizing their earning potential.

Huobi Global is regarded as a secure and trustworthy platform for purchasing, trading, storing, earning, and selling 348 digital currencies. Tens of millions of consumers in more than 195 countries utilize the exchange, which accepts over 60 payment options for converting cash to cryptocurrency.

Huobi Global Features

1. Provides Multiple Trading options like Margin,spot etc.
2. Payment options that are adaptable.
3. Over 900 trading pairs are supported.
4. Trading commissions are as follows: 0.2 percent for the maker and 0.2 percent for the taker.
5. Available on Google Play and Apple's App Store.
6. Based on trading volume, it is the world's third largest cryptocurrency exchange.
7. 348 cryptocurrencies are supported, with over 927 trade pairings.
8. TradingView charts and tools are included in the advanced trading platform.
9. Competitive Trading commissions of 0.2 percent.
10. Institutional OTC trading.
11. A reserve of 20,000 BTC has been set aside for severe security crises and breaches.

Getting Started with Huobi Global

To create an account on Huobi Global Exchange follow these steps:

Step 1: Go to the official website and On the top right of the page, click "Sign up."

Step 2: Choose "Country," enter your mobile phone number in the "Phone" field, create a password, and then click "register."

Step 3: To complete registration, enter the verification code.

Step 4: To finish the KYC verification procedure and unlock larger withdrawal limits.

How to buy Polkadot on Huobi Global

Follow the steps below to buy Polkadot (DOT) on Huobi Global: First and foremost, please ensure that you have sufficient USDT assets in your balance.

1. Visit Huobi global website. On the home page, select Polkadot, and then on the next page, click "Buy Crypto"

2. Within 45 seconds, enter the entire amount of money you want to spend or the total number of DOT you wish to acquire. Then, choose "Order." Next, select a payment option and transfer funds straight to the seller using the information given.

3. Then, using the payment option you selected, transmit the complete amount of money within the time period specified. Following payment completion, please click "Paid".

4. If all of the information is accurate, "Confirm" to confirm that you have finished the payment.

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Other Exchanges to buy Polkadot

Aside from using above popular platforms, there are variety of smaller cryptocurrency exchanges where you can buy DOT.

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Buy Polkadot on Decentralized Exchanges.

Below, you will find comprehensive and detailed review about top rated decentralized exchanges using which you can buy Polkadot (DOT) easily.

1. PancakeSwap (v2)

PancakeSwap is the most popular and widely used AMM for staking and yield farming. The exchange's trade volume exceeds $650 million. PancakeSwap is now the largest project running on BSC, and this momentum is anticipated to continue even if DeFi gains traction.

Still, adding PancakeSwap to a BSC is a significant step in the right way since it lets customers to engage in DeFi without worrying about expensive transaction fees or sluggish transaction speeds. While the market remains unpredictable and dynamic, the PancakeSwap team is working hard to provide an open and transparent platform that provides a number of ways to profit from crypto assets. There is also an emphasis on enhancing user experience in order to enhance platform usage, even among new users.

PancakeSwap (v2) Features

PancakeSwap features that describe what more users may accomplish in the exchange. For example, take a look at the PancakeSwap farms, where users may invest their LP tokens to make extra cryptocurrency. 

Meanwhile, PancakeSwap provides a quick and secure way to exchange tokens from BNB or any other BSC supported token to the cryptocurrency of your choosing on the BSC network. Best of all, customers of the exchange may profit from the BSC blockchain's minimal gas prices. As a result, traders and investors may optimize their profits by exchanging crypto with a high degree of security. PancakeSwap is intended to do a variety of features, including:

1. BEP20 tokens are traded.
2. Users can provide liquidity to exchanges in exchange for benefits.
3. CAKE token holders may put their money on the line.
4. Users may use their liquidity power tokens to get access to further incentives.
5. CAKE tokens may be compounded to obtain even more CAKE tokens.
6. To optimize overall yields, use a variety of staking platforms.

How to buy Polkadot on PancakeSwap (v2)

In this section, we'll go through below steps on how to make your first Polkadot purchase on Pancakeswap.

Step 1: Go to Pancakeswap.finance, click Connect Wallet and select Metamask or Trust Wallet. After connecting your wallet to Pancakeswap, you can now begin trading tokens on the Pancake official site.

Step 2: Click Trade > Swap from the main menu. Select the token you want to trade for, and the token you want in the top section (in our case Polkadot), You can also search Polkadot (DOT) in Coinmarketcap and copy/paste the DOT contract in Pancakeswap.

Step 3: You are now ready to place your order. You can put a number in the top area to specify how much you want to spend, or a number in the bottom field to specify how much you want to purchase.

 

Step 4: Before you finalize the conversion, go through the details and double-check that everything is in order. When you're finished, simply press "Swap" and then "Confirm Swap." That’s all.

As soon as the trade is verified, Polkadot will appear in your wallet.

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Conclusion

Choosing the best cryptocurrency platform for Polkadot (DOT) might be a difficult task, there are various factors that one should consider before selecting a crypto exchange. These include the fees structure, security, exchange features, and whether it is based on fiat or crypto.
Remember, once you have shortlisted some exchanges, do your research on each of them to identify the most appropriate for you.

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