The easiest way to buy Polkadot on Binance US in 2022
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Polkadot (DOT) is a new cryptocurrency born and received significant attention from the community. Therefore, exchanges offering DOT are still limited. In particular, users in the United States have less choice, narrowing it further. This article shows how to buy Polkadot on Binance US in the simplest way.
What is Polkadot (DOT)?
Polkadot (DOT) is a token (token) that can be bought or sold through cryptocurrency exchanges like Binance. Polkadot (DOT) is the cryptocurrency that represents the Polkadot decentralized protocol.
The Polkadot protocol allows connecting blockchains securely, without any intermediaries. It also supports the speed and scalability of the leading blockchain processing.
The Polkadot Token (DOT) has two functions to the Polkadot network. One is the protocols in addition to Polkadot (DOT). DOT is also used to confirm transactions and issue new DOTs. DOT can be bought and sold on exchanges like Binance and some others.
Since when is Polkadot available on Binance US?
Binance.US has listed Polkadot (DOT) and opened trading on the DOT/USD and DOT/USDT pairs from December 2, 2021, at 8:00 a.m. EST / 5:00 a.m. PST.
Binance US users can quickly start trading DOT in USD and USDT via spot trading.
How to buy Polkadot (DOT) on Binance US?
To buy Polkadot on Binance, users need to log in to their accounts. If you don’t have an account, register using the link below:
* See more: The complete guide Binance from a to z
A Binance account needs to have USD or USDT available to buy DOT. On the Trade tab, select Market.
In the search box, enter DOT. If you want to buy DOT in USD, select the USD Markets tab. Users can buy DOT directly or trade the DOT/USD pair using USD. Conversely, if USDT is available in your Binance account, select the USDT Markets tab. With USDT, users can only trade DOT/USDT.
Click on the trading pair you want to execute with tab USD and select Buy or Trade.
- If you choose BUY, enter the amount of USD you want to buy DOT and press Preview Purchase. Then, follow the next payment steps to complete.
- Suppose you want to use the Trade feature. After clicking Trade. Select Buy, choose an order type, fill in transaction information, and click Buy DOT on the trading window.
That is the successful purchase of DOT with the Trade and Buy feature on Binance US.
Buy DOT for what?
DOT is assessed as a project with potential for future development. Therefore, users often want to buy DOT to benefit from the increase in the price of this token. In 2020, at launch, DOT was trading at just $2.76. However, currently, DOT is trading at around $24.26, which is nearly 800% more than that. In just over a year.
In addition, with DOT ownership and staking, users have the right to vote on Polkadot network upgrade changes for rewards. In addition, when owning DOT, the user also has the right to delegate tokens to receive a percentage of the new DOT.
Where to buy Polkadot in the US?
Currently, in the US, you can buy Polkadot at some of the following cryptocurrency exchanges:
- Kraken is one of the exchanges that allows buying Polkadot (DOT) in the US and has a high bet rate, up to 12%. Also, Karen does not require a minimum DOT number. And users do not have to lock DOT for 28 days when participating in staking.
- Crypto.com is also an exchange that allows the purchase of DOT. In particular, it supports ACH transactions so the transaction becomes quite convenient.
- Gate.io is not a well known cryptocurrency exchange but they provide a reputable trading platform. Gate.io’s interface is quite easy to use and has a large number of altcoins including Polkadot (DOT).
- KuCoin is a well-known exchange in the cryptocurrency market with competitive transaction fees. Kucoin allows the purchase of DOT and more than 300 other tokens.
Why buy Polkadot on Binance US?
DOT is a new token, so not many crypto exchanges have it yet. Especially for US users, the number of exchanges that allow buying DOT is even more limited.
Meanwhile, Binance is a large and reputable global cryptocurrency exchange with a huge trading volume. Besides, Binance US has a relatively simple and easy-to-use interface. That’s why users chose Binance US to buy DOT.
Polkadot has been dubbed the “Ethereum Killer” due to its ability to upgrade the blockchain. Of course, the Polkadot network offers some exciting utilities right now that are worth considering. However, Polkadot also has to compete with many other blockchains. Some notable emerging competitors such as Cardano (ADA) could affect the price development of DOT. Users should consider and be well aware of the opportunities and risks when investing in cryptocurrencies.
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