Polkadot (DOT) is a new cryptocurrency born and has received significant attention from the community. Therefore, the exchanges that DOT offer are still limited. In particular, users in the United States have less choice, narrowing it down further. This article shows you how to buy Polkadot on Binance US in the easiest way.
What Is Polkadot (DOT)?
Polkadot (DOT) is a token (token) that can be bought or sold through cryptocurrency exchanges such as Binance.
Polkadot (DOT) is the cryptocurrency that represents the decentralized Polkadot protocol.
The Polkadot protocol allows you to connect blockchains securely, without intermediaries. It also supports the speed and scalability of leading blockchain processing.
The Polkadot Token (DOT) has two functions for the Polkadot network. One is the protocols besides Polkadot (DOT). DOT is also used to confirm transactions and issue new DOBs. DOT can be bought and sold on bags like Binance and some others.
Since when has Polkadot been available on Binance US?
Binance.US listed Polkadot (DOT) and opened trading on 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 dots in USD and USDT via spot trading.
How to buy Polkadot (DOT) on Binance US?
To purchase Polkadot on Binance, users must log in to their accounts. If you don’t have an account, register using the link below:
A Binance account must have USD or USDT available to purchase 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 the USD tab 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, enter your transaction information and click Buy DOT in the trading window.
This is dot’s successful purchase with the Trade and Buy feature on Binance US.
Buy DOT for what?
DOT is evaluated 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 almost 800% higher. In just over a year.
In addition, with DOT ownership and staking, users have the right to vote on changes to the Polkadot network update 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 United States?
Currently, in the United States, you can buy Polkadot at some of the following cryptocurrency exchanges:
- Kraken is one of the exchanges that allows you to buy Polkadot (DOT) in the United States and has a high betting rate, up to 12%. In addition, Karen does not require a minimum DOT number. And users don’t have to block 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 that the transaction becomes quite convenient.
- Gate.io is not a well-known cryptocurrency exchange, but it does provide a reliable trading platform. The interface of Gate.io 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 the purchase of DOT is even more limited.
Meanwhile, Binance is a large and reputable global cryptocurrency exchange with a huge trading volume. In addition, 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” for its ability to update the blockchain. Of course, the Polkadot network offers some interesting utilities right now that are worth considering. However, Polkadot also has to compete with many other blockchains. Some major emerging competitors such as Cardano (ADA) could influence DOT’s price trend. Users should consider and be well aware of the opportunities and risks when investing in cryptocurrencies.