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If you want to buy Polkadot, you have the choice between numerous brokers and crypto exchanges that allow you to invest in the smart contract platform and the native cryptocurrency DOT. In particular, due to the start of the parachain auctions in November 2021 and the first live parachains, Polkadot is a popular bet for many investors. But where can you buy Polkadot at all? Below you will find an overview of the providers that allow you to buy it:
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Trade many different cryptocurrencies without a wallet with our CFD broker test winner Plus500 - 7 days a week.
Regulated provider from Austria - specializing in trading Bitcoin, Ethereum, stocks and many other assets.
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
What is Polkadot (DOT)?
Polkadot is a smart contract platform like Ethereum or Cardano. Polkadot was developed by, among others, Ethereum co-founder Gavin Wood. This means that DOT, like ADA, is in direct competition with Vitalik Buterin’s ETH.
Polkadot stands out with its so-called parachains. These are sidechains that exist alongside the main blockchain (the relay chain). Up to 100 of these parachains are to be auctioned off in the so-called parachain auctions. The parachains are highly sought after. The focus is on interoperability between the chains. Communication should be as easy as possible across different parachains. DOT is the cryptocurrency in the Polkadot ecosystem.
Where Can You Buy Polkadot?
Since Polkadot is one of the 15 most valuable cryptocurrencies in 2022, there are numerous providers on the market that allow you to buy DOT. Basically, we can distinguish between two categories of traders that offer Polkadot: crypto brokers and crypto exchanges.
Buy Polkadot from a Crypto Broker
To buy Polkadot (DOT) easily and straightforwardly, we recommend using a crypto broker. With a crypto broker, you always trade directly with the trading platform and not with other users of the platform. This greatly simplifies the purchase of a cryptocurrency, as you do not need to be familiar with different order types.
We particularly recommend a crypto broker to beginners to buy Polkadot. This is mainly because a crypto broker usually takes care of the custody of your coins and has a corresponding license in German-speaking countries.
However, note that the majority of crypto brokers do not offer real cryptocurrencies. Instead, you can usually only buy Polkadot CFDs from a broker. This does not necessarily have to be a disadvantage. Polkadot CFDs are certificates that reflect the price of the cryptocurrency. By buying, you are speculating on a rising Polkadot price. However, you do not benefit from the technical advantages of the DOT cryptocurrency.
You can buy Polkadot CFDs at Plus500 or Naga. The special thing about CFDs is that you can also speculate on a falling price. This means that you also earn money with Polkadot when the price falls. If you do not believe in a positive price development of a cryptocurrency, you can still earn money with cryptocurrencies through CFDs.
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Buy Polkadot from a Crypto Exchange
Alternatively, you can invest in DOT with a classic crypto exchange. Buying Polkadot via a crypto exchange such as Binance or Coinbase is usually associated with significantly lower fees.
However, note that the user interface of a crypto exchange is much more complex than that of an online broker such as Plus500. This is because you trade directly with other participants and therefore more functions are necessary. In addition, many crypto exchanges are not licensed in German-speaking countries. An exception in this case is Coinbase, as the exchange has at least a license for the custody of cryptocurrencies in Germany.
Coinbase has been active since 2012 and is one of the most frequently used providers - the most important digital currencies such as Bitcoin, Litecoin and Ethereum can be traded on Coinbase
Payment options
Pro
- 3-stage security concept
- Good customer service (mail, telephone)
- Mobile app
- Tutorial with rewards
Contra
- Fewer cryptocurrencies
90%
4.5 out of 5.0 stars
Sehr gut
Verified provider
Long-standing expertise
Transparent selection
Regulated platform
Should You Buy Polkadot in 2022?
You are certainly asking yourself whether it is even worth buying Polkadot in 2022. Polkadot is currently trading at $18.50, giving it a market capitalization of around $18.3 billion. This is enough for eleventh place among the most valuable cryptocurrencies. At times, however, DOT was also among the top ten most valuable cryptocurrencies.
Meanwhile, the chances are not so bad that Polkadot will make a return to the top 10. Of great importance for this is the breakthrough of the parachains. The rush is still high, the first auctions have been completed and with Moonbeam the first parachain is already active. If there are no difficulties here, there is no reason against a higher market capitalization of DOT.
2022 will therefore be a decisive year for Polkadot. While Cardano launched smart contracts in September 2021 and the effects are being awaited, Ethereum is upgrading to Eth 2.0. Here, of course, is the great opportunity for Polkadot if Ethereum should not meet expectations. So there is definitely potential for the Polkadot price.
