How & Where to Buy Polkadot (DOT) in 2024 – The Ultimate Beginners Guide

In this guide, you will learn where to buy Polkadot tokens in 2024. Considered one of the most sustainable digital assets, Polkadot ranks high on most investors’ list of the best future cryptos.

It has not only performed exemplarily well in the past but is currently expected to rebound and rally to new heights. In this post, we review the best places to buy Polkadot via crypto exchanges and tell you if DOT is a good investment.

We also assess their past and expected future price performance and explore the different ways to buy DOT. We will even provide you with a step-by-step guide to buying Polkadot on the best crypto exchange for beginners.

How to Buy Polkadot (DOT) – Quick Steps

This guide teaches you how to buy Polkadot tokens in 2024 right now. For this illustration, we look at the DOT crypto buying process via a regulated crypto exchange. You only need $10 to start buying cryptos on the platform.

• Step 1: Register an eToro account – Head over to the eToro website and create a free crypto trader account. The process is quick and straightforward.
• Step 2: Deposit funds – eToro supports multiple fiat deposit methods – from bank transfers to cards and even eWallets. Identify the payment method that works for you and make a deposit of at least $10.
• Step 3: Find DOT – On your trading tab, type in the word “Polkadot” or “DOT” on the search box. Hit “Trade” on the tab that pops up.
• Step 4: Buy Polkadot tokens – A trading tab will pop up. Use it to customize this investment by indicating how much you wish to invest in DOT. Then, hit the “Open Trade” button to execute this investment.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

Below, we will provide you with a more elaborate walkthrough of how to buy cryptos like Polkadot (DOT). Before that, we review the best crypto exchanges to buy Polkadot and analyze DOT’s past and forecasted price performance.

Where to Buy Polkadot (DOT) Coins – Best Places

Polkadot is a top 15 cryptocurrency and enjoys the backing of a huge online community of followers. This has helped it list with arguably tens of the best altcoin exchanges. We have vetted these platforms in this section. We are looking at the four best places to buy Polkadot tokens right now.

1. eToro – Overall Best Polkadot (DOT)Exchange

eToro is a multi-regulated crypto exchange and is considered one of the most reputable crypto brokerages. It is regulated by the likes of SEC, FCA, and CySEC. It is also considered one of the safest crypto exchanges around because it has never been hacked. In addition to this, eToro provides you with two free and secure crypto wallets.

First is the exchange-based wallet that holds 90%+ of your private keys offline. You also get a free and non-custodial mobile wallet app for iPhone and Android – eToro Money.

These can be used to hold 80+ of the best cryptos to buy supported on eToro. You get to buy and hold established coins like Bitcoin and Ethereum. You also get to interact with the most volatile cryptos on the platform – including Dogecoin and Shiba Inu.

eToro is also affordable and highly efficient. For starters, you only need a balance of $10 to start buying DOT tokens on the platform. And when buying cryptos here, you will only be charged a fixed fee of 1% of the trade volume. The multi-asset brokerage doesn’t charge a commission for crypto trades, only a highly competitive market spread.

eToro also tops our list of the best crypto exchanges for buying Polkadot because of its support for passive investing. Here, you can stake popular coins like Ethereum and earn interest of up to 4.5% APY. This is then complemented by the all-popular copy trading tool.

Through copy trading, beginners make money by simply copying the trade strategies of highly successful traders. The experts, on the other hand, earn a commission for allowing the platform users to copy their trades.

To learn how eToro fairs against equally popular crypto exchanges, read our eToro vs Coinbase and eToro vs Binance comparative guides.

Pros & Cons of eToro Exchange

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

2. KuCoin – Best Exchange to Buy Polkadot (DOT) at Low Fees

KuCoin is one of the most liquid crypto exchanges around. It is also home to the most diverse range of digital assets. Here, you can buy 700+ coins or trade 1500+ crypto pairs. You get to interact with top trending cryptos like Polkadot.

You also get to buy the most sustainable cryptos, like Ethereum and Cardano, as well as the most searched cryptos, like Bitcoin and Solana. And you can start buying any of these for as little as $1.

But KuCoin’s liquidity and coin library aren’t the only reasons we consider it the best DOT exchange. It also lists here because it appeals to both beginners and expert investors. Novice crypto investors are drawn by its buy crypto instantly feature.

They also appreciate the ability to buy Polkadots with credit cards and debit cards. Others like the integrated KuCoin peer-to-peer trading platform that lets them buy crypto free of charge.

Expert traders are, on the other hand, drawn in by KuCoin’s fast transaction processing speeds. These appreciate the 100+ advanced trading tools provided by the exchange. Not forgetting that KuCoin supports margined spot crypto trades and crypto derivative trading. Spot cryptos can be traded with leverages of up to 10X. Derivatives – futures and options – can also be margin-traded with leverages as high as 50X.

KuCoin also comes off as one of the best crypto platforms for day traders because it supports algo trading. Here, you will interact with countless trading bots that you may use to automate your trades. In addition to these, you get to interact with multiple passive investing tools. These include crypto lending, staking, savings, and dual investing.

When buying Polkadot and some of the other hottest cryptos on KuCoin, you will pay a volume-based maker/taker fee. This ranges between 0.1% and -0.005%. If you settle this fee using KCS tokens, you automatically qualify for a 20% fee discount.

Pros & Cons of KuCoin

3. Crypto.com – Top Polkadot (DOT) Exchange for Passive Investing

Crypto.com is the best crypto exchange to buy Polkadot if you wish to earn passively. Here, you can earn passively through staking with interest as high as 12% APY. In fact, Crypto.com is one of the few exchanges that let you stake Bitcoins. Crypto.com also hosts one of the most expansive DeFi wallets. This introduces you to multiple DeFi platforms where you can earn passively. It also exposes you to 500,000+ of the best DeFi coins to invest in today.

The exchange also makes it here because of its user-friendliness and appeal to both beginners and expert investors. The user-friendliness is evidenced by its straightforward client onboarding process. This is then complemented by its user-friendly interface for both the web trader and the Crypto.com mobile trading app.

Its ultra-fast throughput, low fees, large crypto library, and many advanced tools, on the other hand, make it the best for active traders. When buying Polkadot on Crypto.com, for instance, you will be charged a volume-based maker/taker fee of between 0.075% and 0%. And if you have staked between 1,000 and 10 million CRO tokens, you qualify for a fee discount of between 3% and 30%.

In addition to POLKADOT, you also get to buy 200+ other coins and trade 500+ crypto pairs on the platform. Here, you will interact with 100+ of the most advanced technical, charting, and analysis tools. You may also automate your trades using one of the many supported algorithmic traders. The platform also lets you margin trade crypto derivatives – futures and contracts – with leverages exceeding 50X.

To learn how crypto.com compares to other top exchanges, read our Crypto.com vs. Coinbase comparative guide.

Pros & Cons of Crypto.com

4. Coinbase – Best Place to buy Polkadot (DOT) Coins for Beginners

Coinbase is by far the best crypto trading platforms in the US. It is the most liquid crypto exchange here and, by far, the most popular. It is highly rated because of its solid reputation for reliability, user-friendliness, and security. We consider it the best crypto exchange for beginners primarily because of its ease of use and promotion of crypto education.

Coinbase, for example, maintains a quick and straightforward client onboarding process. It also has one of the most intuitive crypto trading platforms. You can buy crypto safety and instantly on the platform. It also is one of the few platforms that let you buy coins with PayPal. The Coinbase website is also home to a comprehensive educational guide that teaches newbies how to invest in crypto. It also teaches you how to keep your crypto safe.

In addition to DOT, you can buy 100+ other cryptos on Coinbase. And you can start buying any of these cryptos with as little as $2. How much you pay in fees when buying these cryptos here will, however, depend on the payment method used and trading amount.

The multi-platform exchange has also positioned itself as one of the safest places to buy Polkadot. This starts with the fact that it is regulated and even insures client deposits with the FDIC – up to $250,000. Coinbase also provides its platform users with two free and highly secure digital wallets.

First is the custodial exchange-based wallet that holds 98% of your private keys offline while insuring the remaining 2%. You also receive a free and non-custodial Bitcoin wallet app for iOS and Android. Multiple security measures have been put in place to keep both the wallet and trading accounts safe. These include strong passwords and biometric locks.

Learn how Coinbase compares against some of the best crypto exchanges in our Coinbase vs. Binance comparative guide.

Pros & Cons of Coinbase Exchange

What is Polkadot (DOT)?

Polkadot is both a blockchain platform and a cryptocurrency. Launched in 2020, Polkadot seems to solve the biggest problem facing the crypto verse – interoperability. This makes it one of the most important digital currencies of the future.

It also makes it one of the most promising cryptos to buy right now. This is premised on the belief that DOT’s value will progressively rise in line with the increased adoption of crypto and blockchain technology.

Polkadot is often referred to as the layer-0 metaprotocol because it is home to multiple layer- networks. This implies that instead of being a single blockchain like Ethereum or Bitcoin, Polkadot is a network of many blockchain networks. These networks are referred to as parachains (parallel chains) and are connected together using a relay chain.

These parachains can communicate with each other and share data via the relay chain. That’s how Polkadot intends to solve the interoperability challenge facing the blockchain world.

DOT, on the other hand, is the native token for the Polkadot network. They are used to facilitate transactions on this platform, but they are also the governance tokens of the blockchain.

Is Polkadot (DOT) a Good Investment?

Polkadot is a hugely popular digital currency. It has performed exemplarily well in the past and maintained an overall uptrending price action. It is also expected to sustain an uptrending price action moving forward.

• Promising future: As we have already mentioned, Polkadot has secured its place in the future of the crypto-verse with its attempt to solve the interoperability problem. Moving forward, we expect its value to continue ascending in reaction to the growing adoption of crypto technologies.
• Trading at a discount: DOT coins are also worth buying at the moment because they are trading at a huge discount. At the time of writing, for example, Polkadot was trading more than 90% below its all-time high. It is expected to fully recapture this high during the next bull market. This effectively exposes you to a possible 800%+ gains.
• Earn passively: Polkadot uses the nominated proof-of-stake consensus mechanism. This implies that you can earn passively by locking your funds in the chain. It has also been adopted by multiple DeFi platforms where you can stake DOT and earn rewards.
• Solid fundamentals: Polkadot has solid fundamentals. These range from solid tokenomics, reasonable total coin supply, a large community of supporters, and rising use cases. Its developers are also exploring deflationary measures that include burning excess DOT tokens.
• Proven resilience: Even though Polkadot is a relatively new crypto. It has already proved its resilience and obedience to market trends. These two are expected to continue playing a critical role in pushing up DOT’s value moving forward.

Polkadot (DOT) Price

Data from CoinMarketCap indicates that Polkadot started trading on crypto exchanges in the third week of August 2021. This was at the base of the aggressive bull market rally of 2021. It had an entry price of $2.89 and immediately embarked on an uptrend.

A week later, DOT prices had rallied by more than 200% to break above $6.30. It would, however, suffer a slight correction that saw its prices range between $4 and $5 throughout the last quarter of that year.

It started gaining momentum again in the last week of 2020, which helped it storm into the New Year, trading around $7. Between January and mid-May 2021, DOT prices grew 7X to hit $49.

In reaction to a market downturn, however, DOT price corrected downwards. Its price even threatened to dip below $10 in the third week of that month. But as the markets recovered in the second half of 2021, so did Polkadot’s price. It resumed the price rally and set the current all-time high of $55 in November 2021.

The coin’s price, however, came crashing during the extended crypto winter of 2022/2023. By December 2022, for example, DOT had shed more than 93% of this ATH to trade around $4. The value loss continued in 2023, and it bottomed around $3.6 – close to 95% below ATH. That said, the market has started showing signs of recovery. DOT is, therefore, expected to enter 2024 trading around $8.00.

Polkadot (DOT) Price Prediction

There is a lot of optimism towards Polkadot’s expected future price action. Many investors, analysts, and price forecasters expect DOT price to rebound and recapture the 2021 highs. They, however, do not agree on the timelines. The most optimistic expect DOT to get back to this price level during the next bull market.

But for this to happen, two market-shaping conditions have to be met. First, SEC-US must approve Bitcoin ETFs. The second is the Bitcoin halving event taking place in April 2024. The two are expected to trigger the most aggressive bull market, which catapults all the best altcoins to unexpected heights. Some are even confident that DOT can rally by as much as 1400% to break above $100 by the end of 2025.

Ways of Buying Polkadot (DOT) Today

We have already hinted above that different crypto exchanges present you with varied crypto payment options. In this section, we look at the most common ways of buying DOT tokens on popular altcoin exchanges.

Buy Polkadot with PayPal

A growing number of popular crypto trading platforms will let you buy crypto with PayPal. These include eToro and Coinbase. These accept PayPal deposits that you may then use to buy DOT tokens. Most crypto investors like using PayPal because it is fast in processing transactions.

Additionally, exchanges like eToro do not charge a deposit processing fee. Plus, it has decent daily transaction limits. On the flipside, though, PayPal charges relatively high transaction processing fees.

Buy Polkadot with Credit Cards or Debit Cards

You may also buy Polkadot and other cryptos with credit cards and debit cards. Most crypto exchanges will process card deposits and withdrawals. As is the case with cards, some of the perks of buying DOT with cards include its speedy transaction processing speeds. The only downside to buying crypto with cards is that most card issuers charge high transaction processing fees.

Buy Polkadot with Bank Balance

Bank is by far the most accessible payment method in the world. This explains why virtually all the top altcoin exchanges let investors buy Polkadot with a bank balance. And there are multiple ways of using bank balances to invest in cryptos like Polkadot.

You may simply buy directly when you make a deposit and use bank deposit to settle a P2P transaction. You may also fund your account via fiat-to-crypto onramps when using crypto-to-crypto-only exchanges.

The perk of buying DOT with a bank transfer is that most exchanges maintain high transaction limits. eToro, for example, doesn’t have a maximum deposit limit for bank deposits. The downside to using bank transfers is that it, at times, takes days before the deposit is reflected in your account. Further, banks tend to charge relatively high transaction processing fees.

Best Polkadot (DOT) Wallet

There are three types of crypt wallets that you may use to keep your Polkadot coins safe. In this section, we tell you what they are and explore their strengths as well as their main drawback.

• Web wallets: These are also referred to as cloud-based wallets. They refer to the storage-as-a-service program offered by third-party data handlers. In this case, you trust a third party to keep your private keys secure in their servers. Great examples of web wallets are the exchange-based wallets given for free by crypto exchanges and brokerages. These are convenient but not the safest. They face the threat of hack and misappropriation of client assets.
• Software wallets: Software wallets are computer programs and mobile applications designed to keep crypto safe. They are also referred to as desktop wallets and mobile wallet apps. These are non-custodial and give you access and control over your digital assets. But the fact that they are held on internet-enabled devices makes them unsafe. They are exposed to hacking and malware attacks.
• Hardware wallets: Hardware wallets are physical devices that have been specially designed to help keep your digital assets safe. These are the safest as they keep your private keys offline – away from hackers. They also give you greater access and absolute control over your digital assets. However, unlike the two other digital wallets, hardware wallets aren’t free.

How to Buy Polkadot (DOT) Cryptos for Beginners – Step-by-Sep Guide

In this section, we walk you through the process of buying cryptos on eToro. We have already mentioned that the process is quite straightforward, taking only a few minutes. Plus, you only need $10 to get started.

Step 1: Register a Crypto Trading Account

Open the official eToro website or download the eToro mobile trading app and create a free account here. Start by hitting the “Join Now” button on either platform. Then, complete the user registration form that pops up here. It will only seek to capture your basic personal details like name, address, and phone number. It will also ask about your income sources and trading experience. You will also need to come up with a username and strong password for this account.

Step 2: Verify your Identity

The eToro registration process is only considered complete after you have verified your identity. Simply submit a photo of your government-issued ID – such as a passport or driver’s license. You will receive an approval notification within 24 hours.

Step 3: Deposit Funds

Log in to the approved eToro trader account and hit the “Deposit Funds” button on your user dashboard. A funding tab will pop up, indicating all the payment options available to you based on your country of residence. Choose one and follow the prompts to fund this account with at least $10.

Step 4: Find Polkadot

Once the deposit is reflected in your account, hit the “Discover” icon. On the next tab that shows the financial instruments supported on eToro, choose Cryptos. Then, from the list of supported digital assets, find Polkadot.

Step 5: Buy Polkadot (DOT) Tokens

Hit the” BUY” option against Polkadot to bring up the trading tab. Use it to customize this investment by indicating how much you intend to invest in Polkadot. Then, hit the “Open Trade” button to authorize this investment.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

Step 6: Set up the eToro Money Wallet app

The private keys for the DOT you just bought will be deposited into the exchange-provided wallet. You, however, need to download and activate the eToro Money Wallet app if you intend to transfer these coins to a third-party wallet or exchange. Simply download the eToro Money Wallet app on the App Store or Android.

Use the credentials created in Step 1 above to log in to the wallet. Link the wallet app with the trading account and move the funds to the wallet. Note that you will be charged a 0.5% crypto transfer fee (capped at $50). You can only send crypto purchased on eToro from the wallet app.

How to Sell Polkadot Cryptos

Selling Polkadot coins on eToro is easy. The process is quick and straightforward.

• Step 1: Log back into your eToro trading account.
• Step 2: Hit the “Portfolio” button to reveal all your open positions.
• Step 3: Hit on the “Close” button against Polkadot and indicate whether you want to sell part of the assets or close the entire position.
• Step 4: Hit the “Close Trade” button to sell the DOT coins.

Conclusion – Where to Buy Polkadot

Buying Polkadot on crypto exchanges doesn’t have to be complicated. It follows a simple and straightforward process. Start by reviewing the best crypto exchanges and find the one that works for you.

Register an account with them, deposit funds therein, and start buying DOT coins. Even then, you will need to familiarize yourself with the ways of buying DOT. We have covered all that and even shared some of the top reasons to invest in Polkadot right now.

Want to start buying Polkadot tokens right now? Follow the step-by-step guide that we have outlined above. It teaches you how to buy your first DOT coin with as little as $10 on eToro.

Reviewed and Fact Checked by Kamal Masri, Crypto Writer and Investment Analyst.

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Author: Wajeeh Khan

Wajeeh Khan is a financial researcher and writer with 7 years of experience. He has immense exposure to a range of financial assets, including stock, cryptocurrencies and forex - and is particularly well-versed in asset valuation, analysis, and portfolio management. Since 2016, Khan has worked with notable online platforms within financial journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published over 7,000 articles, guides, and market insight. Online casinos started as a hobby for Khan in 2018. But in only two years, it had already become another niche that he started actively researching. Over the past three years, he has written a diversified set of content around gambling for clients from all over the world. Academically, Khan has a Bachelor's in Economics and a Master's degree in Finance. He's also completed a bunch of courses on digital journalism and financial markets at large.

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