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One of the earliest launched cryptocurrencies in the space, Polkadot was launched in 2016 and has since become one of the most popular cryptocurrencies out there. It has among the largest market capitalizations of all the cryptocurrencies, and at the same time is widely considered a good alternative to buying Bitcoin. In this guide, we consider the different platforms as well as the peculiarities of buying Polkadot.

Where to Buy Polkadot – Step by Step Guide 2023

A simple step-by-step guide to buying Polkadot coins in the UK has been given below. This quick guide uses eToro, one of the most popular UK cryptocurrency brokers, for this purpose.

  • Open an account with eToro – Quickly open an account with our recommended broker eToro
  • Upload ID – Upload a copy of your passport or driver’s license to verify your identity
  • Deposit – Deposit funds with a UK debit/credit card or e-wallet
  • Buy Cryptocurrency – Buy cryptocurrency commission-free

Where to Buy Polkadot

1. eToro – The Overall Best Broker to Buy Polkadot Coin

In 2023, we recommend eToro as the premier platform for trading Polkadot. eToro stands out from other platforms that allow Polkadot trading due to several key factors. Firstly, eToro is highly regulated, which is a rare feature for cryptocurrency trading platforms. Many platforms are unregulated, posing a risk to your invested capital. eToro, however, is regulated by both the CySEC and the UK’s FCA. In addition, eToro offers trading options for a variety of other cryptocurrencies such as ETH, BNB, ADA, XRP, and more.

Trading cryptocurrencies on eToro is possible in two ways. Firstly, you can buy and sell cryptocurrencies using fiat currencies such as USD, GBP, or EUR, depending on your account’s base currency. Alternatively, you can trade cryptocurrencies using other cryptocurrencies such as BTC, ETH, and BNB. eToro does not charge commissions on trades, setting it apart from other platforms. Instead, they only charge spreads, allowing you to enter and exit trades at your convenience.

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If you lack experience in trading cryptocurrencies, but still want to benefit from their price movements, eToro provides passive trading tools that can help. You can opt to copy the trading strategies of experienced cryptocurrency traders and profit from their knowledge. Alternatively, you can invest in the eToro-curated CryptoPortfolio, which shields you from the volatility of any single cryptocurrency. The portfolio comprises a range of cryptocurrencies, including Polkadot, with varying weights, enabling you to invest in a diversified basket of cryptos. The eToro investments team manages this portfolio, removing the need for you to regularly rebalance it.

eToro fees

Fee Amount
Commodities trading fee Spread, starting from 2 pips
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5


  • eToro offers a user-friendly platform with a simple interface, making it easy to navigate.
  • You can engage in copy trading and other social trading options
  • Regulated by various agencies globally, ensuring a secure trading environment.
  • The platform offers cryptocurrency derivatives in specific regions.
  • Very low trading comissions
  • You can trade a range of assets, including stocks, currencies, indices, and ETFs.
  • eToro grants access to a curated CryptoPortfolio that the eToro team manages.


  • Does not offer many advanced trading or analysis tools.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Binance – The Best Trading Platform for Day Trading DOT

buy polkadotBinance is the go-to choice for cryptocurrency day traders, and for good reason. The platform offers a wide range of cryptocurrencies to trade, with new ones frequently added. Binance facilitates easy investment in both large and small-cap coins by ensuring speedy listing of new coins. Polkadot, for instance, has been available for trading on Binance since its launch. Similar to eToro, Binance allows trading of Polkadot for both fiat and digital currencies. The platform handles billions of dollars in trading volume daily.

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Binance levies relatively steep fees for withdrawals and deposits, particularly for credit/debit card deposits (2-3%). However, this is offset by the platform’s low trading fees. Furthermore, holding Binance Coin (BNB) can further reduce the trading fees you pay. Binance provides an array of specialized tools and technologies tailored for cryptocurrencies, rendering it a suitable option for expert crypto traders.

Binance fees

Fee Amount
Crypto trading fee Commission, starting from 0.1%
Inactivity fee Free
Withdrawal fee 0.80 EUR (SEPA bank transfer)


  • Advanced charting platform with numerous technical indicators
  • Hundreds of pairs supported
  • Very low commissions
  • Supports fiat currency deposits
  • Low fees, with additional discounts for using BNB
  • Security measures are very tight


  • The platform will charge up to 2% for deposits made with debit/credit card
  • Customer service can be delayed at times

Your money is at risk.

3. Coinbase – The Best Beginner Platform For Trading DOT

where can i buy polkadot coinCoinbase is a leading and sizeable cryptocurrency exchange that facilitates trading of nearly every currency, including Polkadot. With over 73 million users, the platform manages over $255 billion in assets, offering unparalleled levels of liquidity among cryptocurrency exchanges. Coinbase presents over 100 tradable cryptocurrencies, including Bitcoin, Ethereum, and Polkadot Coins. The platform’s fee structure enables users not only to trade but also to invest, making it highly attractive.

The platform has two options that you can use: the standard Coinbase platform and COinbase Pro. The main difference is that orders through the Pro Platform can be subject to a higher level of technical analysis and you can choose a variety of order types.

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Coinbase fees

Fee Amount
Crypto trading fee Commission, starting from 0.50%
Inactivity fee Free
Withdrawal fee 1.49% to a U.S. bank account


  • Advanced charting platform with numerous technical indicators
  • Hundreds of pairs supported
  • Easy for cryptocurrency beginners to use
  • Support for a large number of cryptocurrencies
  • Opportunities to earn cryptocurrency
  • Lower pricing available with Coinbase Pro


  • Charges up to 2% on credit/debit card deposits
  • Customer service responses can be delayed at times

Your money is at risk.

What is Polkadot?

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In 2016, Polkadot (DOT) emerged as a leading contender to Bitcoin with distinct features that set it apart. One of its main advantages is the ability to connect multiple blockchains within a single blockchain network, which is not possible with Bitcoin. This has led many cryptocurrency enthusiasts to speculate that Polkadot could potentially serve as a viable alternative to Bitcoin in the future.

Polkadot also has its own cryptocurrency called DOT, similar to most other blockchain projects. DOT can be sent and received between wallets like any other digital currency. However, while the Polkadot blockchain has numerous practical applications, most people invest in this cryptocurrency on a speculative basis, hoping to sell at a profit in the future.

Why Buy Polkadot?

According to CoinMarketCap, Polkadot was publicly listed on an exchange in August 2020 at a price of $2.78. By February 2021, the price had soared to an all-time high of $38.20. This surge in value was partly due to the general increase in cryptocurrency speculation, which also raised the prices of other altcoins that are closely linked to Bitcoin. However, it was also fueled by the recognition of the advantages of Polkadot’s ability to connect multiple blockchains into a single network, setting it apart from similar cryptocurrencies. This resulted in a staggering 1,200% increase in value in just over six months.

Despite Polkadot’s current market capitalization of over $30 billion, some argue that its potential for growth remains attractive. In comparison to one of its main competitors, Ethereum, which is valued at almost $200 billion, Polkadot’s market cap may seem small. As a result, investors are increasingly speculating on Polkadot, hoping to buy in now and sell in the future when the price reaches its full potential.

How to Buy Polkadot with PayPal

Cryptocurrencies like DOT can now be purchased via PayPal, in addition to traditional methods like credit/debit cards and bank transfers. eToro stands out as a unique trading platform that permits users to deposit funds into their accounts via eToro and use them to buy various cryptocurrencies, including DOT. As far as we know, eToro is the only cryptocurrency exchange that allows investments in DOT using PayPal or other electronic wallets, making it a unique and attractive option. Consequently, eToro is an excellent investment platform for investors who prefer to use this payment method for their investments.

How to Buy Polkadot with Bitcoin

As cryptocurrencies gain more popularity, an increasing number of products and services can be purchased using them. Binance, for instance, allows you to buy almost every cryptocurrency using Bitcoin, as well as other cryptocurrencies like ETH, ADA, and even BNB. Although there are still some major stores and payment processors that do not accept Bitcoin, the number of retailers accepting it has grown in recent years. Therefore, if you trade through a major crypto exchange, you can deposit your Bitcoin into their wallet and easily use it to purchase DOT.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Buying Polkadot Safely

Investing in Polkadot Network comes with no guarantees. If it launches smoothly and gains popularity, the demand for cryptocurrency could skyrocket. However, this is not a certainty, and Polkadot may not necessarily outperform other cryptocurrencies like Dogecoin and Shiba. Although Polkadot has more use cases than many other cryptocurrencies, it does not guarantee better performance, especially as other blockchain technologies continue to expand. Furthermore, investing in anonymous projects like DOT comes with unique security risks, as scammers could exploit critical flaws in the code to steal cryptocurrency from investors. Sadly, scams in the DeFi space are becoming increasingly frequent, and while experienced code auditors could rule out these possibilities, the Polkadot Network is yet to undergo an audit.

Risks of Buying Polkadot

Altcoins derive their value primarily from their community rather than their utility. This makes the success and growth of the community a crucial factor in determining an altcoin’s success. However, investing in altcoins comes with a high degree of risk, and experts caution that there is a greater likelihood of losing money. As such, it is recommended that investors only invest what they can afford to lose, regardless of the cryptocurrency they choose.

Altcoins are structurally different from Bitcoin in terms of their supply, usage, and ecosystem. Bitcoin was designed as a peer-to-peer electronic cash system with a limited supply, which creates built-in scarcity. Its value lies in its potential to become a prominent decentralized digital currency. Most altcoins lack these features, including Polkadot, which has a lower degree of compatibility with Bitcoin infrastructure. Nonetheless, supporters of Polkadot argue that its ecosystem, which includes features like smart contracts, non-fungible tokens, and enterprise-wide liquidity mining, goes beyond community value. Despite this, investing in altcoins still requires caution due to their inherent risks.

According to Brett Harrison, president of cryptocurrency exchange FTX US, investing in altcoins can be extremely risky and may not always have inherent value as investments. Therefore, individual retail investors should always conduct research and diligence before trading these assets. Harrison prefers assets that offer specific utility over investing in a booming cryptocurrency based on hype to make money from crypto-assets.

Crypto assets have become increasingly popular among investors due to their ability to provide a store of value, facilitate an efficient mechanism for the transfer of funds, or serve as an algorithm that enables the construction of blockchain-based applications, according to Marcus. While many assets can be suitable for retail users, a degree of caution should always be exercised when investing in altcoins. This is especially important given the unique nature of Polkadot, which makes it difficult for investors and speculators to accurately price in its technology.

Selling Polkadot

The process of selling Polkadot coins is straightforward, depending on the platform you are using. For instance, on eToro, you can access your portfolio and select the sell option. After selecting the amount and type of order, you can click on “place order,” and your cryptocurrencies will be converted into your fiat currency. However, if you use a cryptocurrency exchange, you have additional options. You may convert your Polkadot into other cryptocurrencies, such as Bitcoin, Ethereum, or Binance Coin, and even fiat currencies. Once the conversion is complete, the cryptocurrencies will be stored in your platform wallet.

How Much Does Polkadot Cost?

As of early December 2021, the price of a Polkadot token is around $29.54, with a market capitalization of $29,052,819,037 USD. However, it is crucial to note that the Polkadot price is subject to change throughout the day like any other tradable asset. Since Polkadot is now a highly traded cryptocurrency, its price can fluctuate on a second-by-second basis.

It is also important to remember that Polkadot – like all cryptocurrencies, operates in a highly speculative and volatile arena. Sure, the digital currency has enjoyed rapid success since it first hit a public exchanger last year – with astronomical returns of over 1,200%. However, as we have seen with many other hyped-up crypto assets, what goes up can often come crashing straight back down – and quickly. As such, if you are wondering how to buy Polkadot in the safest way possible, make sure you keep your stakes modest.

Polkadot Price Forecast

At the beginning of 2021, the price of Polkadot was $9.26. As of today, Polkadot is trading at $29.24, marking a 216% increase since the start of the year. According to CoinPriceForecast, they predict that Polkadot’s price will reach $39.63 by the end of 2021, resulting in a year-to-year change of +328%, with a projected rise of 36% from today. In the first half of 2022, the price of Polkadot is expected to rise to $54.03, followed by an additional $16.21 increase in the second half of the year, resulting in a year-end price of $70.24, which is +140% from the current price.

However, the potential for future growth of Polkadot is dependent on various factors such as project announcements, new technological advancements, regulatory changes, and the overall cryptocurrency market. Therefore, it is essential to conduct thorough research before investing in Polkadot.

Best Way to Buy Polkadot with eToro

To help you trade Polkadot, we have compiled a list of steps that you can follow to start trading altcoins on eToro. The process of opening an account and trading on eToro is simple and can be broken down into four main steps.

Step 1: Open an Account

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To begin trading altcoins on eToro, you can start by accessing the platform’s homepage and selecting “Join Today.” Afterward, you will need to complete a brief form requesting your contact information and creating your login credentials. If you prefer, you may also register using your Facebook or Google account to simplify the login process and eliminate the need to remember additional login details.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.


Step 2: Upload ID

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The subsequent step in the process is to verify your identity, which is a mandatory requirement for trading on eToro. As a regulated platform, eToro is obligated to complete the KYC (Know Your Customer) process before granting trading access. This process comprises two parts. Initially, you must verify your identity, and you can do this by uploading a government-issued ID, such as a passport, driving license, or visa.

Following that, you must provide proof of address, which can be done by uploading a bank statement or utility bill. Once you have uploaded the required documents, eToro has a swift response time and will typically verify your account in a few hours.

Step 3: Deposit Funds

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To proceed, you’ll need to deposit funds into your eToro account, which can be done in a number of ways. The minimum deposit required is 200 GBP. Bank transfer and credit/debit cards are among the payment options available. Additionally, eToro accepts several e-wallets, including PayPal and Skrill. You may also add funds in various currencies such as USD, GBP, and EUR, with no additional fees or charges associated with the process. The funds will appear in your account almost immediately after depositing.

Step 4: Buy Polkadot Coin

To start trading Polkadot, the final step is to use the search bar to find the Polkadot coin or DOT, enter the desired amount for buying or selling, and then click on the order button.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.


There are various platforms available for trading Polkadot, but eToro is considered the best overall platform for this purpose. This is due to several reasons. Firstly, eToro offers leverage for investing in cryptocurrencies, allowing you to invest in Polkadot with a small amount of capital. Additionally, eToro provides a range of trustworthy altcoins to trade on alongside Polkadot, and the platform adheres to regulatory standards to ensure the safety of your investment in Polkadot and other cryptocurrencies.

eToro – Buy Polkadot With 0% Commission

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67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


Who created Polkadot?

Polkadot was founded in 2016 by Gavin Wood, former Co-Founder and CTO of Ethereum. Polkadot's technology addresses the major issues that have stymied blockchain adoption in recent years.

What is the market cap of DOT?

The market cap of DOT, at the time of writing this article, is $29,052,819,037 USD.

Do I need a crypto wallet to buy Polkadot?

No, you do not need a crypto wallet if you choose to buy Polkadot coins through CFD platforms such as eToro. However, buying actual Polkadot through a wallet means that you will be able to transfer cryptocurrencies between platforms.

Can I buy Polkadot in the US?

'Yes, you can buy Polkadot coins in the US through any established cryptocurrency trading platforms such as eToro, Binance, or Coinbase.

How much money do I need to buy DOT?

The amount of money you need to need to buy DOT will depend on the minimum balance requirements associated with your platform, however, in general, it can be as low as $100.

About Nishit Kumar
About Nishit Kumar

I'm a second year Accounting and Finance student at the University of Warwick, in addition to being an incoming Trading Analyst at Morgan Stanley. I'm passionate about the financial markets and all things finance.

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