Buy Polkadot DOT

Easily and securely buy Polkadot with the best crypto platform in Europe.

  • Lowest trading fees: 0.15%
  • Buy DOT with iDEAL, Bancontact or SEPA
  • Maximum safety with Proof of Reserves
Polkadot DOT
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DOT
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What is Polkadot?

Polkadot is a platform that wants to create a network of different blockchains. Polkadot does this by connecting the blockchains to each other so they can work together. Polkadot is a so-called “multi-chain” environment, which means that multiple blockchains can share information and help each other. This allows users to carry out transactions without being dependent on a single blockchain.
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Buy Polkadot with Finst.
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Network information

Name
Polkadot
Ticker
DOT
Network name
Polkadot network
RPC URL
https://docs.polkadot.com/develop/networks/
Explorer URL
https://polkadot.subscan.io/

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Buy Polkadot with your favorite order type

  • Market order

    Buy Polkadot instantly at the best available price. Ideal for quick and easy purchases.

  • Limit order

    Set your maximum price for Polkadot. Your order will be executed when your limit price is reached on the market

  • Auto Invest

    Automate your crypto purchases on a daily, weekly, bi-weekly, or monthly basis.

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FAQ

  • How to buy Polkadot?

    Follow the steps below to easily and securely buy Polkadot.

    1. Sign up

      Create an account with a reputable crypto platform like Finst.

    2. Deposit EUR

      Deposit Euros using payment methods like iDEAL, Bancontact, or SEPA.

    3. Start investing

      Buy Polkadot and securely store it on our platform.

  • Can I automatically invest in Polkadot on a recurring basis (DCA)?

    Yes, with Auto Invest, you can set up daily, weekly, bi-weekly, or monthly purchases of your favorite crypto using the Dollar Cost Averaging (DCA) strategy. Create your own investment plan and DCA Polkadot without any action required or additional fees.

    Do you prefer to store your crypto on your external wallet? At Finst, we have various cryptocurrencies enabled for automatic withdrawals, which are sent straight to your wallet after each recurring purchase.

  • What fees do I need to pay when buying Polkadot?

    When you buy Polkadot through Finst, you benefit from the most competitive trading fees of 0,15% per transaction.

    Any fees you may encounter when trading crypto are clearly shown for every transaction on our platform.

    It's important to note that network fees are outside of our control, as they are determined by the blockchain networks themselves.

    This means that while network fees may vary depending on the blockchain and current demand, our trading fee remains consistent, helping you better manage your transaction costs.

  • Which order types can I use to buy Polkadot?

    At Finst, we support several order types to buy Polkadot: Market Order, Limit Order, and Auto Invest (DCA).

    - With a Market Order, you buy Polkadot instantly at the best available market price.

    - Do you want to buy Polkadot at a lower price? With a Limit Order, you set the maximum price you're willing to pay for Polkadot. Your order will be executed once your limit price is reached on the market.

    - Do you want to invest in Polkadot without constantly checking the market? With Auto Invest, you can schedule automatic and recurring purchases. Whether you want to buy daily, weekly, bi-weekly, or monthly - you choose the frequency.

  • Can I use limit order to buy Polkadot?

    Yes, on our platform, you can easily buy Polkadot with a Limit Order. This allows you to set the maximum price you're willing to pay. Your order will be executed once the price of Polkadot reaches your limit price or lower.

    A Limit Order is ideal if you want to wait for a better price without constantly monitoring the market.

  • Is it safe to buy Polkadot?

    Yes, it is safe to buy Polkadot through Finst. We are registered as a Crypto Service Provider (no. R189158) with the Dutch Central Bank (DNB), and we are the first and only Dutch crypto platform that successfully obtained a Proof of Reserves (PoR) from an independent and reputable audit firm (Audit Now). At Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

  • Is it legal to buy Polkadot?

    Yes, buying Polkadot is legal in Europe. However, we advise you to do your own research before making a purchase.

  • Can I buy Polkadot anonymously?

    No, due to laws and regulations, it is not possible to buy Polkadot or other cryptocurrencies anonymously on a regulated crypto platform in Europe.

  • Can I buy Polkadot with iDEAL?

    Yes, at Finst, you can easily buy Polkadot with iDEAL. We also support popular payment methods like SEPA and Bancontact.

  • Do you have to buy one Polkadot?

    At Finst, you can start investing in Polkadot with as little as €1. For many coins, it is not necessary to buy a whole coin.

  • What are the risks of investing in Polkadot?

    Investing in cryptocurrencies like Polkadot involves risks of losses. You can lose (part of) your deposit. Before you decide to buy Polkadot, it is important to understand the risks.

    Volatility: The price of Polkadot can fluctuate significantly. This means that its value can rise and fall quickly.

    No guaranteed profit: Previous price increases do not guarantee future returns. Therefore, only invest money that you can afford to lose.

    External factors: The price of Polkadot is influenced by external factors, such as economic conditions and the actions of influential individuals, governments, and institutions. These factors can have a positive or negative impact on the price.

  • How to store Polkadot?

    You can securely store your Polkadot in your Finst wallet. Some cryptocurrencies also support external wallets, allowing you to send your crypto to your own wallet if desired. We use state-of-the-art security measures to keep you and your crypto safe.

    We work with Fireblocks, one of the most trusted crypto security infrastructure providers, to safely store your Polkadot. They make use of Multi-Party Computation (MPC) technology which is an advanced cryptographic technology used to protect your digital assets.

    Additionally, Finst is the first and only Dutch crypto platform that has successfully conducted an extensive Proof of Reserves (PoR) audit. With Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

  • Can I send my Polkadot to an external wallet?

    Yes, you can send your Polkadot to an external wallet. With Finst, you can easily send your Polkadot to a hardware or a software wallet.

  • Can I store Polkadot on a hardware wallet?

    Yes, you can store Polkadot (DOT) on hardware wallets such as Ledger or Trezor.

  • Can I stake my Polkadot?

    Yes, at Finst, you can stake DOT and earn passive income on your coins while contributing to the security of the network.

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How does Polkadot work?

Polkadot acts as a connection between independent blockchains. This means that they ensure that blockchains that normally work separately can work together thanks to Polkadot, by making it possible to share information with each other.

The Polkadot blockchain consists of the Polkadot Relay Chain, multiple parachains and bridges. The Relay Chain is the main chain that ensures the network is secure and that data is properly stored in the database.

Parachains are separate chains that are linked to the Relay Chain. Each parachain determines its own rules and builds its own applications, but is secured by the Relay Chain. This ensures that developers have a lot of freedom to build what they want, without having to take other parachains into account. New protocols can be built on the parachains, smart contracts and new tokens can be created. Another advantage of parachains is that they can all work simultaneously and separately from each other, reducing the load on the Relay Chain and enabling transactions to be carried out quickly and cheaply.

Polkadot can communicate with other blockchains, including Solana, Ethereum and Bitcoin, by means of bridges. Thanks to these bridges, users can easily exchange crypto between the blockchains.

Who are the founders of Polkadot?

Polkadot was founded in 2016 by Peter Czaban, Gavin Wood and Robert Habermeier, among others. The best-known founder is Gavin Wood, as he also helped launch Ethereum and invented Ethereum's programming language, Solidity. He noticed that blockchains had difficulty communicating with each other and therefore wanted to invent a blockchain that could enable blockchains to work together.

Together with Robert Habermeier and Peter Czaban, they want to keep Polkadot growing and developing in the coming years.

What is DOT?

DOT is Polkadot's native coin. The coin is used to pay transaction fees on the network and to secure the network.

In addition, you can also use DOT coins for staking, governance and the creation of new parachains. Staking allows holders of DOT coins to help secure the network and carry out transactions. What happens in effect is that you make your DOT coins available (and lock them up) and are paid DOT coins as a reward.

You can also use your DOT coins to help decide on important changes to the network, such as upgrades. This is what we call 'governance'. The more DOT coins you have, the more your votes count.

Finally, DOT is also used to add new parachains to the Polkadot ecosystem. Developers must pay a fee in DOT coins to add their blockchain to the network.

What consensus algorithm does Polkadot (DOT) use?

Polkadot uses a consensus algorithm called Nominated Proof of Stake (NPoS). This system ensures that transactions can be carried out by means of staking and that Polkadot remains secure. Polkadot does this by allowing users to stake DOT coins to help execute new transactions and add new blocks to the blockchain. What makes Nominated Proof of Stake unique is that there are different roles that all contribute, namely nominators, validators, collators and fishermen. All roles are fulfilled by staking DOT coins.

As a nominator, you choose reliable validators by staking DOT coins with a validator you believe does a good job. The nominator receives DOT coins as a reward. The validators check transactions, validate information they have received from collators and add new blocks to the blockchain. The validators are also responsible for guaranteeing the security and fairness of the network. Validators also stake DOT coins and receive rewards for doing so, but unlike nominators, they play an active role.

Collators are responsible for the parachains. They run a node on a specific parachain and collect important data on the parachain, such as transactions. They then pass this information on to the validators. In addition, the collator acts as a kind of link between the parachains, as the collator can exchange data between different parachains. Fishermen are there to see if the collators are functioning properly and honestly. They check that the collators do not want to share erroneous or corrupt blocks with validators.

The conclusion is that there is a lot of cooperation within the Polkadot ecosystem to keep the network scalable, reliable and secure.

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