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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 2022

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

eTorowhere to buy polkadot earns our recommendation as to the top Polkadot trading platform for 2022. This is due to a variety of factors that enable it to stand out from all the other platforms which allow you to trade Polkadot. For starters, the platform is highly regulated, which is a unique characteristic of any cryptocurrency trading platform. Most of these platforms tend to be unregulated, thus putting any capital you invest with them at risk. This is not true of eToro, which is regulated by both the CySEC and the UK’s FCA. eToro also allows you to trade a variety of other cryptocurrencies such as ETH, BNB, ADA, XRP, etc. 

Trading cryptocurrencies on eToro works in two ways: you can either buy and sell cryptocurrencies using fiat currencies such as USD, GBP, or EUR, depending on the base currency in which your account is set. However, you could also, alternatively, trade cryptocurrencies using other cryptocurrencies instead. For example, you could exchange Polkadot for USD, GBP, and EUR, or BTC, ETH, and BNB. eToro also does not charge any commissions on trades, which sets it apart from other cryptocurrency trading platforms out there. The only fees they charge are their spreads. This means that you can enter and exit a trade whenever you wish to do so.

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If you are not an experienced cryptocurrency trader but still wish to profit from movements in crypto prices, you can make use of the passive trading tools that eToro offers. For example, you could choose to copy other experienced cryptocurrency traders and capitalise on their expertise. Alternatively, you could invest in the eToro-curated CryptoPortfolio, which prevents you from the volatility associated with any one particular cryptocurrency. This is done by assigning weights to a variety of different cryptocurrencies, including Polkadot, and allowing you to invest in a basket of cryptos. This portfolio is managed by the eToro investments team, so you do not have to worry about rebalancing the portfolio regularly.

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


  • User-friendly platform with an easy-to-use interface
  • Allows for copy trading and other social trading options
  • Regulated by various agencies worldwide
  • Provides cryptocurrency derivatives in certain areas
  • No commissions on trades
  • Provides a variety of other assets to trade on such as stocks, currencies, indices, and ETFs
  • Provides access to a curated CryptoPortfolio managed by the eToro team


  • Not suitable for advanced charting or technical analysis

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.

2. Binance – The Best Polkadot Trading Platform for Regular Day Traders

buy polkadotBinance is the platform of choice for cryptocurrency day traders, and this is for good reason. For starters, almost every cryptocurrency is available to trade on Binance, and new ones are added quite regularly. The platform allows you to invest in both large-cap and small-cap coins easily, by ensuring that it lists all new coins as soon as possible. For example, ever since Polkadot was launched, it has been listed on Binance. Just like eToro, on Binance you can trade Polkadot for both fiat currencies and digital currencies. The platform also deals with billions of dollars in trading volume every day.  

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While Binance charges high fees for withdrawals and deposits, especially for credit/debit card deposits (2-3%), this is compensated for by the low trading fees that the platform offers. In addition to this, the fees that you may pay, get even lower if you have an allocation of the Binance Coin (BNB). They also have a wide variety of tools and technologies available specifically for cryptocurrencies, which makes them a suitable option for highly experienced 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 and proven to be among the best in the industry


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

Your money is at risk.

3. Coinbase – The Best Polkadot Trading Platform for Beginners

where can i buy polkadot coinCoinbase is one of the best and biggest cryptocurrency exchanges to trade almost every currency, and Polkadot is no exception. With over 73 million users, the platform has over $255 billion in assets and has unprecedented levels of liquidity that you can find among any cryptocurrency exchange. Over 100 tradable cryptocurrencies such as Bitcoin, Ethereum, and Polkadot Coins are offered through Coinbase. The best part about this platform is that its fee structure is in a way that enables people to not only trade but also invest.

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.

where can i buy polkadot

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 to use for cryptocurrency beginners
  • 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?

where to buy polkadot coinPolkadot (DOT) was initially launched as a leading alternative to Bitcoin in 2016. It has several features that differentiate it from Bitcoin, the main one among them being that it has the capacity to connect several blockchains within a single blockchain network, which is something that bitcoin does not have. It is due to this reason that a lot of cryptocurrency enthusiasts believe that this could be a viable alternative to Bitcoin in the future.

Similar to most other blockchain projects, Polkadot also has a cryptocurrency with the same name, called DOT for short. This allows you to send and receive Polkadot from wallet to wallet – much like any other digital currency. With that said, although the Polkadot blockchain has some great use cases, most people buy this crypto asset on a speculative basis. That is to say, investors typically buy Polkadot with the hope of cashing out at a profit in the future.

Why Buy Polkadot?

According to CoinMarketCap, Polkadot first hit a public exchange in August 2020. Back then, digital currency was trading at a price of $2.78. A short while later in February 2021, the price hit an all-time high of $38.20. This was largely fueled by the general increase in cryptocurrency speculation which lifted Bitcoin prices and the prices of all other altcoins that are highly correlated with Bitcoin, DOT among them. However, a part of it was certainly also the fact that cryptocurrency enthusiasts recognized the advantages of being able to connect multiple blockchains into a single network. This is the reason why DOT prices increased more than the other similar cryptocurrencies.

This translates into financial gains of over 1,200%. Not bad for an investment period of just over half a year.  With that said, Polkadot is currently trading with a market capitalization in excess of $30 billion. Although at first glance this might sound like a sizable amount, it’s actually not when you consider the market valuations of other cryptocurrencies in this space. In particular – one of its main competitors – Ethereum, has since surpassed a valuation of almost $200 billion. As such, many would argue that the upside potential with Polkadot is still very much attractive. This is what has led to a lot more speculation on Polkadot, with investors trying to buy in now so that they can cash out in the future when the price reaches its full potential.

How to Buy Polkadot with PayPal

With cryptocurrencies such as DOT, one can purchase these through PayPal as well, as opposed to traditional purchase methods such as credit/debit cards and bank transfers. eToro is a unique trading platform that allows its users to deposit funds into their accounts via eToro and then use these funds for the purchase of cryptocurrencies including DOT and others. As far as we know, there are no other crypto exchanges that let you invest in DOT with PayPal or any other electronic wallets, so eToro is quite unique in this regard. Therefore, eToro is an excellent investment platform for all investors who wish to use this particular payment method when making investments.

How to Buy Polkadot with Bitcoin

A large range of products and services can now be purchased using bitcoin and other cryptocurrencies as a result of growing awareness and popularity. For example, on Binance, you can buy almost every cryptocurrency via Bitcoin in addition to using fiat currencies to buy them. For some other cryptocurrencies, you can buy them in exchange for ETH, ADA, and even BNB. In recent years, the number of retail stores and payment processors that accept bitcoin has grown to an extent, though there are still some major holdouts in this regard. Therefore, if you are trading through a major cryptocurrency exchange, then you can simply deposit your existing Bitcoin into their crypto wallet and use it to buy DOT.

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.

Buying Polkadot Safely

As far as investing in Polkadot Network is concerned, there are no guarantees. The demand for cryptocurrency can expand enormously if it launches smoothly and becomes popular, and this is quite likely to happen especially because of all the new and unique concepts that Polkadot brings to blockchain technologies. Even though it has more use cases than most other cryptocurrencies such as Dogecoin and Shiba, it does not mean that it will perform better than these because they are on the Ethereum network and not on their own blockchain network. DOT will definitely still struggle to reach its all-time highs again soon, especially given the fact that blockchain technology is expanding every day and it is very difficult to be able to say when another cryptocurrency that is more energy-efficient than even DOT will be launched, making it redundant and thereby dropping its prices.

Investing in anonymous projects like DOT also presents distinct security risks since a critical flaw in the code may allow the developers to steal cryptocurrency from investors by scamming them. Unfortunately, in the wild west that is DeFi, some scams are causing users to lose millions of dollars with increasing frequency. If experienced code auditors had access to the code, this possibility could be ruled out, but the Polkadot Network hasn’t yet been audited so that they couldn’t do this.

Risks of Buying Polkadot

As such, altcoins have a strong community function as opposed to their utility. Because of this, the success and growth of the community are pivotal in determining how successful they are, explains Boneparth, who has been investing in cryptocurrencies since 2014. However, there is still an inherently high degree of risk associated with investing in altcoins, as experts warn that there is a higher chance that you will lose your money. Authorities generally recommend that you should only invest what you can afford to lose regardless of which cryptocurrency you choose.

It is important to remember that altcoins may require a greater level of caution because they differ from something like bitcoin in several aspects, including their structure, supply, and usage. Bitcoin was created in 2009 to serve as a peer-to-peer electronic cash system. In addition to its blockchain, the company has carefully designed an ecosystem to support the blockchain. Using the fact that Bitcoins are a limited supply allows for a certain amount of built-in scarcity through the design. The fact that it can be used for this purpose makes it such a valuable investment for its holders, with the hope that it will be recognized as a prominent decentralized digital currency. Most altcoins lack these features, and even Polkadot does not incorporate all these features completely, which means that it has a lower degree of compatibility with most infrastructure that has been designed for the Bitcoin blockchain. Polkadot Network supporters contend that the ecosystem that Polkadot offers, including features such as smart contracts and nonfungible tokens and opportunities for enterprise-wide liquidity mining, goes beyond community value.

While this is true, Brett Harrison, president of cryptocurrency exchange FTX US, warns that “those altcoins can be extremely risky, and may not always have inherent value as investments, and that individual retail investor should always conduct research and diligence before trading these assets.” Harrison looks for assets that offer specific utility rather than investing in a booming cryptocurrency based on hype to make money from crypto-assets.

Crypto assets are a growing area of interest for investors. They 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, writes Marcus. He says many assets can be suitable for retail users. However, a degree of caution should always be exercised whenever you decide to invest in altcoins, especially given the unique nature of Polkadot, which makes it much harder for investors and speculators to be able to accurately price in the technology associated with Polkadot.

Selling Polkadot

Depending on what platform you are trading through, the process of selling Polkadot coins will be very straightforward. For example, you can simply head over to your portfolio on eToro and click on sell. After selecting the amount and the type of order you wish to place, then the next step for you is to simply click on place order and this will result in your cryptocurrencies being converted into the fiat currency that you use to operate your platform. On the other hand, if you are using a sole cryptocurrency exchange, then you will have other options too. For example, you might wish to convert your Polkadot into other cryptocurrencies such as Bitcoin, Ethereum, or Binance Coin, alongside a variety of fiat currencies. Once you have done this, these cryptocurrencies will then be stored in your wallet on the platform.

How Much Does Polkadot Cost?

At the time of writing in early December 2021, a single Polkadot token will cost you in the region of $29.54. The market capitalization of Polkadot coins is $29,052,819,037 USD. With that said, it is important to understand that like any other tradable asset – the Polkadot price will change throughout the day. In fact, as Polkadot is now a heavily traded crypto asset, price shifts occur 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

Polkadot price started in 2021 at $9.26. Today, Polkadot traded at $29.24, so the price increased by 216% from the beginning of the year. According to CoinPriceForecast, The forecasted Polkadot price at the end of 2021 is $39.63 – and the year-to-year change is +328%. The rise from today to year-end: +36%. In the first half of 2022, the Polkadot price will climb to $54.03; in the second half, the price would add $16.21 and close the year at $70.24, which is +140% to the current price. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Polkadot projects, the crypto environment in general, legal position, and so on. Therefore, it is important for you to do your own research before buying Polkadot.

Best Way to Buy Polkadot – eToro Tutorial

In order to assist you with trading Polkadot, here is a list of steps that you need to follow in order to begin trading altcoins on eToro. The process of opening an account and trading on eToro is quite straightforward and involves 4 main steps.

Step 1: Open an Account

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The first thing that you need to do is to navigate to the eToro homepage and click on “Join Today”. Then, you will be asked to fill a short form that asks for your contact details and makes you set up your login credentials. Alternatively, you can also sign up via your Facebook or Google account for easier sign-ins and to avoid having to remember your username and password.

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.


Step 2: Upload ID

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The next step is for you to verify your identity by uploading a copy of your ID. Since eToro is a regulated platform, they have to complete the KYC (Know Your Customer) process before they allow you to trade. This verification process has two parts to it. The first part involves verifying your identity. For this, you can upload a copy of any government-issued ID, such as a passport, driving license, or visa. The next part is an address proof, for which you can either upload a bank statement or utility bill. 

Once you have uploaded the documents, eToro has a quick response time, and will usually verify your account in a few hours. 

Step 3: Deposit Funds

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The third step is to then deposit funds into your account. The minimum deposit on eToro is 200 GBP. This can be done in a variety of ways. For starters, you can add money to your eToro account via bank transfer or via credit/debit cards. They also accept a variety of e-wallets such as PayPal and Skrill. You can add funds in different currencies too, such as USD, GBP, and EUR. There are no fees or charges associated with depositing funds into your account, and they show up almost immediately. 

Step 4: Buy Polkadot Coin

The last step is then to begin trading Polkadot. Simply head over to the search bar, search for Polkadot coin or DOT, enter the amount you wish to buy or sell, and click on the order button. 

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.


While there are several platforms on which you can trade Polkadot, eToro is easily the overall best platform for this purpose. This is true for a variety of reasons. Firstly, eToro provides you with leverage when investing in cryptocurrencies, making it easier for you to invest in Polkadot while only risking a small amount of capital on your own part. In addition to this, they also offer a variety of verified and reliable altcoins to trade on in addition to Polkadot, and the regulatory requirements that they comply with mean that your money is safe when you invest in Polkadot and other cryptocurrencies through eToro. 

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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