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Buy Polkadot

DOT

$8.66

24H Change
-4.00%
24H Volume
$179M
Global Rank
#16
Market Cap
$8.2B

Polkadot Price

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About Polkadot (DOT)

Polkadot (DOT) is an open-source multichain protocol that aims to connect and secure multiple blockchains on a single network. Polkadot was established in 2020 by founder Gavin Wood who is an original co-founder of Ethereum. The overall goal of the Polkadot protocol is to solve issues that currently plague blockchain technology such as; interoperability, scalability, governance, and data privacy. 

In particular, Polkadot allows individual blockchain networks to connect with other blockchains making them interoperable. This multi-chain functionality makes it easier for developers, start-ups, and enterprises to build and operate blockchain technology. The Polkadot network refers to itself as a Layer 0 protocol as it can form an underlying framework for other Layer 1s to thrive atop. 

The Polkadot protocol has 4 main components. These are the relay chain, parachain, parathreads and bridges. The main Polkadot network is known as the relay chain – this creates interoperability and secures the networks.  

The parachain is a user-created specialised network designed to run on the main blockchain, of which there are thousands (including dApps, crypto wallets, GameFi and so on). Parathreads act similarly to parachains but with more flexible connectivity. Lastly, bridges are the connectors between parachains and parathreads that allow for communication with external blockchain-based platforms like Ethereum. 

How to Buy Polkadot (DOT) in Australia

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Polkadot FAQs

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How do I buy Polkadot (DOT)?

To buy DOT tokens, simply create an account with Swyftx using a few simple details such as your phone number, email and government-issued identification. Once your account has been verified you can log into the Swyftx crypto exchange and deposit funds via bank transfer, PayID, or debit card. Once the funds have landed in your account you can instantly buy Polkadot (DOT) and hundreds of other cryptocurrencies. Your Polkadot (DOT) will be stored in your Swyftx exchange wallet and can be accessed anytime. You can track the price movements of your assets via the dashboard in the Swyftx mobile app and web trading platform.

Where is the best place to buy Polkadot?

The best place to buy Polkadot is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Polkadot and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.

How is the price of Polkadot determined?

The price of Polkadot is determined by the forces of supply and demand in the market. Similar to other assets, the price of Polkadot is determined by the number of buyers and sellers in the market at any given time.

Some significant factors that can influence the demand for Polkadot are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.

Can I buy Polkadot with credit card?

Swyftx does not allow you to directly buy Polkadot with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy Polkadot instantly.

Top Traded Assets on Swyftx

By number of orders

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Period: Last 24 hours (AUD)

DOT Buys and Sells

By number of orders

75% Buy
75%
Buys
25%
Sells

Period: Last 24 hours

This should not be used to make investment decisions.

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What is Polkadot (DOT)?

Polkadot is a multichain blockchain protocol that facilitates data transfer across blockchains. Learn more about Polkadot and DOT.

Disclaimer: The information is for general information purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any assets. It has been prepared without regard to any particular investment objectives or financial situation and does not purport to cover any legal or regulatory requirements. Customers are encouraged to do their own independent research and seek professional advice. Swyftx makes no representation and assumes no liability as to the accuracy or completeness of the content. Any references to past performance are not, and should not be taken as a reliable indicator of future results. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose. Consider our Terms of Use and Risk Disclosure Statement for more.