How to Buy Polkadot (DOT) with a Debit Card – A Beginner’s Guide

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Where to buy Polkadot

1. Capital.com – Trade cryptocurrencies 24/7 with the largest provider

Please note that the instructions below are not currently available in Russia, but you can read them anyway.

Capital.com has a wide range of cryptocurrency CFDs available for trading.

In fact, there are literally hundreds of coins to trade, including Polkadot and all the major coins, as well as a huge selection of altcoins.

You can trade more than 3,000 instruments covering cryptocurrencies, indices, stocks, commodities and more.

In addition, the broker is authorized and regulated by the FCA and CySEC, providing a high level of security of funds.

Leverage of 2:1 is offered when trading crypto CFDs with Capital.com. This means that you only need $100 to open a $200 position!

With Capital.com you can trade cryptocurrency CFDs 100% commission-free with low spreads, and the best part is that you only need $20 to open an account!

Pros:

  • Regulated by CySEC and the FCA;
  • Zero commission for deposit and withdrawal;
  • 100% commission-free trading;
  • Low and competitive spreads;
  • Trade CFDs on cryptocurrencies with leverage;
  • Easy-to-use web trading platform.

Cons:

  • You can only trade CFDs on cryptocurrencies.

2. Libertex – Trade CFD (ContractForDifference) on cryptocurrencies with zero spreads and leverage!

Libertex is a CySEC regulated broker that allows you to buy Polkadot in exchange for U.S. dollars (DOT/USD) using cryptocurrency contracts for difference (CFD).

This product is unique and allows you to buy crypto with a security deposit, which means you don’t need the full value of the investment to open a position.

CFDs can help increase profits as well as losses. With Libertex you can also trade crypto CFDs with zero spreads and instead pay a small commission when you buy or sell. Commissions are currently at a 50% discount due to the current cryptomania.

The broker provides access to a full range of crypto CFDs, including Polkadot, Dogecoin, Cardano and major Bitcoin and Ethereum players, among others.

You can even trade other asset classes such as gold, oil, indices and stocks.

You can open an account with Libertex in just a few minutes and for only 100 euros!

Pros:

  • Trade crypto with leverage;
  • Easy to use trading platform;
  • Access to CFDs on multiple asset classes;
  • Trade with zero spreads;
  • Regulated by CySEC.

Cons:

  • Only cryptocurrency CFDs are available.

3. OKX

OKX is an international cryptocurrency exchange with low commissions and a set of additional services.

Recommended for traders interested in trading a large number of currencies.

OKX started its operations back in 2017. The company is headquartered in Seychelles and has offices in various countries.

According to CoinMarketCap, OKX ranks 18th in the world in terms of sales among cryptocurrency exchanges.

The exchange allows you to work with a huge number of currencies. If you are looking for a coin, it is probably available on OKX.

Here’s just a short list of the currencies traded on the platform: Bitcoin, OKB, Terra, Ethereum, TRON, Avalanche, APENFT, Solana, Polygon, JUST, XRP, Yearn.finance, Dogecoin, Polkadot, Shiba Inu. A total of 343 currencies are currently listed on the exchange.

Transactions are fast and secure. The platform takes care to protect user privacy.

The company has more than 20 million registered users in more than a hundred countries. However, the platform is not available to U.S. users due to regulatory issues.

The interface is intuitive, making it easy and fast to navigate both the site and the app. And novice traders can learn with tutorials.

After registering on OKH, you can start trading cryptocurrency with your card, bank account or mobile wallet.

OKX has mixed reviews left by consumers on websites.

On the one hand, users note positively the easy online experience, fast transitions and low commissions, but on the other hand – unsatisfactory customer service, slow withdrawal of funds.

Trustpilot OKX gets an average rating of 3.4 stars out of five based on nearly 300 reviews, which is a relatively high rating for a cryptocurrency exchange.

Pros:

  • Low trading commissions – 0.10% or lower for most trades.
  • Easy registration.
  • Support for hundreds of trading pairs.
  • Ability to obtain and grant credit.
  • Free deposits in multiple currencies.
  • High-interest betting opportunities.
  • Ability to buy cryptocurrency via card, bank account or digital wallet, Apple Pay, Google Pay and other supported services.

Cons:

  • Unsatisfactory quality of customer service.
  • Not available for users in the United States.
  • Low liquidity for some currencies.

How to buy Polkadot step-by-step instructions

At the end of our guide we will tell you how to buy Polkadot in Russia with Libertex – a regulated broker of FCA and CySEC, offering cryptocurrency trading with 100% leverage without commission!

Open an account with Libertex

You can open an account with Libertex easily by clicking on the Trade Now icon on the broker’s website and then entering your email address and password.

2. Confirm your identity

Since Libertex is regulated by the FCA and CySEC, you will need to upload identification and proof of address documents for standard account verification.

This can be a passport or driver’s license, as well as a bank statement or utility bill dated within the last six months.

There is also a very simple questionnaire for completing standard KYC (know your customer) procedures. This will help the broker know more about you.

3. Make a deposit of funds

Libertex has a zero deposit fee, and you can start with as little as $20! There are also many different ways to make a deposit, which include:

  • Debit cards;
  • Credit cards;
  • Bank transfers.

Electronic wallets such as Trustly, QIWI, iDeal, Sofort, Giropay, Webmoney and many others.

You can also deposit your funds in different currencies, such as USD, EUR, GBP or PLN.

4. Buy Polkadot!

The Libertex website provides access to a really great trading platform that is easy to use and rich in features. To buy Polkadot, simply enter the name in the search box and select DOT/USD.

Click the “Buy” button, and the chart will open with the trading ticket to the right at the bottom.

Libertex you can buy cryptocurrency CFDs, which effectively means that you don’t need the full value of your trade to open it. You can trade with a security deposit. A trade ticket lets you know how much of a security deposit you need to open a trade.

What is Polkadot?

Polkadot (DOT) is a blockchain project that was first launched in 2016.

The project claims to be different from others in this space, mainly because it can connect multiple blockchains on the same network.

Like other blockchain projects, Polkadot also has its own cryptocurrency with the same name. This allows you to send and receive Polkadot from wallet to wallet – just like any other digital currency.

That being said, Polkadot blockchain has some great uses, most people buy this cryptoasset on a speculative basis. That is, investors in Russia usually buy Polkadot in the hope of making a profit in the future.

Why Buy Polkadot? Cryptocurrency analysis

According to CoinMarketCap, Polkadot first went public in August 2020. At the time, the digital currency was trading at $2.78. Just nine months later, in April 2021, Polkadot hit record highs of $44.238.

This leads to a financial return of almost 1500%. Not bad for an investment period of just over six months. That being said, Polkadot currently trades with a market capitalization in excess of $40 billion.

While this may seem like a significant amount at first glance, it really isn’t 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 nearly $200 billion. Thus, many argue that the growth potential with Polkadot is still very attractive.

Polkadot Price – How much does it cost to buy Polkadot?

At the time of writing, one Polkadot token was worth about $35. With that said, it is important to understand that like any other traded asset, the price of Polkadot will fluctuate throughout the day.

In fact, since Polkadot is currently an actively traded crypto-asset, price changes occur every second.

It is also important to remember that Polkadot, like all cryptocurrencies, operates in a very speculative and volatile arena. Of course, the digital currency has enjoyed rapid success since it first hit public exchanges last year – with astronomical returns of more than 1,500%.

However, as we have seen with many other bloated crypto-assets, what goes up can quickly collapse . So, if you are wondering how to buy Polkadot in Russia in the safest way possible, make sure your stakes are modest.

Ways to buy Polkadot

There are many ways you can buy Polkadot in Russia. The easiest way is to use a cryptocurrency exchange, which allows you to deposit funds using a daily payment method. This way, you don’t have to go through the process of converting bitcoins or Etherium to Polkadot.

In the sections below we will look at many different ways to buy Polkadot in Russia.

Buy Polkadot with a debit/credit card

Without a doubt, the easiest way to buy Polkadot in Russia is to buy with a debit card. That being said, the vast majority of cryptocurrency exchanges do not accept debit/credit cards because they do not have the regulatory authority to do so.

After all, most platforms in this space operate without a license.

The good news is that the popular cryptocurrency exchange Libertex not only supports debit and credit card purchases, but you can also buy Polkadot coin directly.

The process works as follows:

  1. First you need to open a Libertex account and then upload a copy of your passport or driver’s license.
  2. Once your account is verified, select “DOT” from the drop-down list and enter the amount you wish to purchase.
  3. You will then be prompted to make an instant deposit by debit or credit card.
  4. Once the payment is processed, Polkadot tokens will be added to your Binance web wallet

After completing your debit/credit card purchase, you have two storage options. To keep things simple, you can leave your Polkadot tokens in Libertex until you are ready to sell.

Alternatively, if you want full control over your investment in Polkadot, you can withdraw the tokens to a digital wallet.

Buy Polkadot with PayPal

Please note that the instructions below are not currently available in Russia, but you can read them anyway.

There are no reliable cryptocurrency exchanges that allow you to buy Polkadot using Paypal.

Of course, the likes of eToro support 16 digital currencies that you can buy with Paypal, Skrill and Neteller, but Polkadot is not listed yet.

That being said, if the only payment method available to you is Paypal, there is a workaround. However, additional steps will be required to complete this process.

Here’s what you need to do:

  1. Open an account with an FCA-regulated broker, eToro.
  2. Make a deposit using Paypal.
  3. Buy bitcoin that requires no commission at eToro.
  4. Download the eToro mobile wallet through the iOS/Android app.
  5. Transfer the bitcoin you just bought from your trading account to eToro.
  6. Open an account at Capital.com (at this time, proof of identity is not required since you are not funding your wallet with a debit/credit card).
  7. Transfer bitcoin from your eToro wallet to your unique Capital.com wallet address.
  8. Exchange bitcoin for Polkadot.

Buy Polkadot with Bitcoin

If you already have access to bitcoin, you actually convert it to Polkadot.

We briefly explained this process in the section above, although we should elaborate on it a bit more so that you know how it works.

  1. You will need to open an account with Libertex. Unless you plan to deposit “real” money, you do not need to provide any personal information or identification.
  2. Go to the Deposit area and search for Bitcoin (BTC). Then you can get your unique BTC wallet address. Copy the address to the clipboard and go to your bitcoin wallet.
  3. Insert the address into your personal wallet and transfer the desired amount of bitcoins. Bitcoins should arrive in your wallet in 10-20 minutes.
  4. When that happens, go to “Markets”, click on “BTC Markets” and then find “DOT”. Finally, buy a Polkadot coin with your bitcoin balance.

The best part about the process described above is that, in addition to the blockchain fee for depositing your bitcoin, you only paid 0.1% trading commissions.

Conclusion

So, with Polkadot’s value up more than 1,500% since last August – this cryptocurrency is now in hot demand.

At the time of writing, the blockchain asset is currently the 6th largest in terms of market capitalization and growth.

If you want to invest in the ever-growing cryptocurrency market right now, then you should consider an FCA, CySEC and ASIC regulated broker because they allow you to trade 100% commission-free and provide you with a crypto wallet to store your coins.

You can instantly deposit funds with this broker via debit/credit card, e-wallet, or PayPal, and the minimum crypto investment is only $25!

CFDs are complex financial instruments. The use of leverage is associated with high risk. 70.8% of retail investors lose money trading CFDs with this partner.