Want to jump straight to the answer? According to our experts, Polkadot (DOT) is a good investment with an investment grade rating of 4.0/5 based on the user behavior, developer activity and market maturity factors that trying to assess the overall health, applicability and probability of growth of the project.
You can Buy Polkadot with Credit Card or Debit Card in 3 easy steps:
In the following sections, we will explain the process to buy Polkadot (DOT) with credit card or debit card in greater detail.
Please note that Cryptocurrency investments are high-risk investments. Any investment decision is under the responsibility of the individual.
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|24 hour % change||11.27|
|7 days % change||33.68|
|30 days % change||24.08|
|60 days % change||-19.46|
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Polkadot was founded by the Web3 Foundation and the underlying aim behind its creation was to achieve the disruption of internet monopolies. This could come about through the empowerment of individual users and the parallel focus on building infrastructure for Web 3.0. The guide below aims to help interested crypto enthusiasts to learn about Polkadot and enable them to decide whether investing in Polkadot suits their own needs and preferences.
Understanding what the Polkadot network is, is very important before dealing with DOT tokens in particular and deciding if they are worth investing in. Briefly put, the Polkadot network is a blockchain platform that was designed in order to run dApps, i.e. decentralized applications, at very high speeds. Polkadot is similar to Ethereum, with the main difference being that Polkadot is not a single blockchain, but instead an entire network, a dedicated, single ecosystem where diverse blockchains unite and communicate with each other, despite their customized and different characteristics. Through this communication, the Polkadot network is formed.
The concept of interoperability is at the heart of the Polkadot network, as this allows an infinite number of different blockchains, both private and public to communicate and interact. Unlike other networks, on Polkadot this is not achieved through running applications via smart contracts, but instead through the use of parallel blockchains, known as parachains. Thus, whereas on Ethereum the programming of a dApp by a developer would be done via several smart contracts, on Polkadot this is done through the use of parachains. This being said, Polkadot does support smart contracts as well, provided they exist within a parachain. However, the hosting of dApps on individual blockchains rather than via smart contracts, allows developers greater control in terms of design and key features, such as speed and fees and keeping the data public or private. This is because smart contracts are bound by and to the rules of their parent blockchain and thus the leeway for dApps developers is more limited.
In the case of Polkadot, the network is very efficient and fast, to the benefit of both its users and operators. This is achieved through the management of the entire parachains networks via a central relay chain, the central Polkadot blockchain, which ties all the parachains together in a smooth and frictionless manner.
Currently, there is a circulating supply of about 933,350,778 DOT from a total supply of 1,068,874,893 DOT. From the original DOT token supply, around 58% was allocated and sold to investors, while 30% was granted to the Web 3 Foundation to be used for development purposes and other related activities. The remaining 12% was kept to be used for future fundraising efforts.
The increased popularity of the Polkadot is mainly attributed to its numerous distinguishing features, which inter alia, include:
By the end of the guide, you should know the following:
The native currency of the Polkadot network is the DOT token and it was launched to primarily serve three distinct functions and purposes:
Let's examine those three distinct functions and purposes in more detail.
The Polkadot platform’s governance, i.e. the decisions on network fees, the addition of new parachains and issues pertaining to network upgrades, is exercised through granting the right to DOT holders to vote on such issues and thus shape how the network is governed and moves forward.
The security of the Polkadot network is ensured using a staking mechanism, through which the network is upheld by users staking DOT tokens. To safeguard that the transactions processed by users are valid, users are rewarded or punished by being awarded DOT tokens or penalized in DOT tokens.
DOT tokens are also used when a new parachain is to be added to the network, as for each new addition a certain amount of DOT tokens needs to be locked up in a process known as “bonding”.
|Interoperability||Infinite Competition from Smart Contract Blockchains|
|Relatively More Scalable Than Others|
|Huge Developer Activity on Polkadot’s Network|
The Polkadot network stands out and compares favourably to its competitors mainly because it has had the time to build its network from scratch and the ground up, enabling it to include all the necessary functionalities from the beginning and not try to figure out and improvise while on a flight, such as many other crypto networks have had to do. Contrary to its competitors, the Polkadot network has not had to struggle to deliver on vague promises made before its launch.
What is more, following its launch, the Polkadot network and its DOT token, have not only served their initial purposes but also managed to enable an array of new uses, such as interoperability and sharding. While Ethereum has failed to achieve this, Polkadot opens up possibilities for horizontal database sharding with win-win outcomes.
The last two prominent advantages of Polkadot is that it can process millions of transactions per second, which is vastly more than the 30 transactions per second than Ethereum can handle for example. This also means that Polkadot can better handle the numerous smart contracts that had slowed down Ethereum considerably, while Polkadot is also not in the need of high gas fees that have also tended to slow down other networks.
The obvious disadvantage of Polkadot pertains to the hard time and stiff competition it is facing, especially when it comes to gaining a considerable market share in the smart contract community. This is because it has to compete with numerous other, already established, smart contracts platforms that have already established a stronghold in the crypto world, such as Cardano and Ethereum. Thus, if Polkadot is to thrive as much as the anticipation was at the time of its launch, it must prove that it holds the best prospects for smart contracts. If that doesn’t happen it will be just another token that rose due to the general crypto hype but failed to deliver and fulfil its potential. Against the highly volatile and unpredictable backdrop of the crypto scene, safely determining what the future of DOT will be, is an almost impossible task.
DOT Price Performance from 2020 to Date On 21st August 2020, the DOT token price opened at $2.90 and closed at $2.88 with a trading volume of $49 million. Its historical performance ever since can be said to be extremely good, benefiting from the renewed and intense interest in cryptocurrencies by institutional investors, as well as individual traders, both seasoned as well as novices. DOT’s good performance was evident, when it reached a price of $4.35 by the end of September 2020, while by the end of the same year it had more than doubled its price and was traded at $9.29, recording a remarkable increase of 220.345%.
This year, DOT opened at $9.29 on 1st January 2021 and closed at $16.12 by the end of the month, while in February it rallied past several price milestones, even reaching the $40 milestone, before settling at $33.61 by the close of 28th February 2021. In March 2021, the DOT price opened on 1st March at $33.64 and closed at $37.03 on 31 March. In April 2021 the opening price stood at $37.09 on 1st April 2021, while DOT closed at 35,81 at the end of that month. Following the recent downturn in crypto prices, currently, DOT is priced at $23.87, while it has a volume of $1.6 billion and market capitalization of $22.77 billion on a fully diluted market capitalization of $25.86 billion.
* The prediction figures outline some of the Potential high and low of Polkadot (DOT) price prediction forecasts for the years 2021, 2022, and 2025 based on the data collected from various sources meant strictly for educational purposes only and not taken as investment advice.
By the end of the year 2021, using forecast and algorithmic analysis, our price prediction forecasts suggest that one Polkadot will reach an average price of $48.675, which will be an impressive 250% growth from it's current market price.
By the end of the year 2022, our price prediction forecasts suggest that one Polkadot will reach an average price of $92.85, which will be an impressive 478% growth from it's current market price.
By the end of the year 2025, our price prediction forecast suggests that one Polkadot will reach an average price of $190.55, which will be an impressive 981% growth from it's current market price.
There are several online sites and platforms where people from across the globe can buy Polkadot at good exchange rates and with low or no transaction fees. To aid your quest we have comprised a list of some of the most popular methods and platforms to buy Polkadot from and your strongly advised to consult this list before making your first purchase of or investment in Polkadot.
It only takes a few easy steps to buy Polkadot with credit card instantly. Speed matters - get instant confirmation, minimal registration & KYC verification!
By the end of the guide, you should know the following:
To help you pick the right choice, we combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges as well as the top cryptocurrency brokers when it comes to trading and investing in Polkadot and other cryptocurrencies.
Though precisely predicting the future of Polkadot is impossible, there are several metrics and indicators that will give you an accurate account and help you draw valid conclusions, such as, its trade volume, its market capitalization and its overall performance, especially that during the preceding year.
In 2021 so far, DOT has performed far better than in 2020 since most of its integrations and partnerships launched and became operational in 2021, thus allowing to reap the benefits of those successful endeavours.
The current market capitalization of DOT comfortably ranks it in the large-cap crypto-asset category, since it is well over $10 billion.
Additionally, since there is a current circulating supply of 921,072,660 DOT with the maximum supply capped at 1,057,000,181, deciding to keep the supply finite will mean that as demand will increase to a point where it cannot be met, then DOT will behave as all scarce products, i.e. sold at much higher prices. Thus, a price increase for DOT is not unlikely in the not-so-distant future, especially if the new parachains which are planned to come to life shortly, do allow Polkadot to unlock its full potential and full functionality. This in turn may well lead to much more widespread adoption of the protocol, further pushing its price up. If your own investment goals allow you to buy and hold Polkadot until such prospects materialize, then perhaps DOT deserves a place in your investment portfolio.
When deciding whether to invest in DOT, it is wise to be aware of the inherent risks of such as a decision, chief amongst which are the fact that the Polkadot blockchain technology is new and thus not as tried and tested as those of other competitors, which have already managed to establish themselves. Another risk is that Polkadot might not manage to capture the market share it envisages, since the niche it operates in, is highly saturated already and fiercely competitive.
There is no guarantee that you will make a profit when you invest in Polkadot. However, to give yourself the best chance possible we have hand-picked the three most valuable such strategies, which you can find below:
In theory and on paper, Polkadot has many merits that make it very attractive to developers, since it enables the deployment of several, custom-made blockchains, which may easily be tailored to suit specific needs for businesses of all sizes, while also allowing their upgrade in a hassle-free manner, novelties which can greatly benefit the entire crypto space and ecosystem.
Being a young ecosystem, however, many Polkadot projects are either very new or still in the pipeline. Thus, more time is needed to properly evaluate its true potential, impressive as it might seem at first glance.
In this guide, the aim wasn’t only to answer simple questions like “how to buy Polkadot?” or “where to buy Polkadot?”. Instead, the goal was to equip you with the relevant knowledge and insight to be able to see and understand the bigger picture as well as make your Polkadot investment journey as successful and as profitable as possible!
However, Binance isn’t exactly a beginner friendly way to buy Polkadot (DOT). Let's just get straight to the point:
|Provider||Payment Method||Fees (Approx.)|
|Kraken||UK Bank Transfer||< 1%|
|Wirex||Debit Card Fees||2.5%|
|Crypto.com||Debit Card Fees||2.99%|
|Coinbase||Debit Card Fees||4%|
|Cryptopay||Debit Card Fees||4%|
More information on legal and regulatory status of crypto assets in the UK can be found on our latest publication on How to buy Bitcoin in the United Kingdom
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