Polkadot Price (AUD) Chart

Currently, blockchains face many issues, making it impractical in many real-world use cases. The Polkadot Protocol aims resolve blockchain issues including interoperability, scalability, governance, and data privacy.

Polkadot aims to connect a global network of blockchains on a single ecosystem, allowing data to be transferred across blockchain networks.

Polkadot (DOT) was created by Gavin Wood, who is best known for co-creating Ethereum. Woods goal of Polkadot was to “unite an entire network of diverse blockchains into a single ecosystem”. The project was launched and developed by the Web3 Foundation in May, 2020.

When trading Polkadot with Swyftx, your investments are automatically stored in a Polkadot wallet, integrated with your Swyftx account. All Swyftx users have a crypto wallet where they can store all their crypto investments.

If you are wanting to hold onto your assets for a long period of time, we suggest using a cold wallet. Cold wallets keep your investments offline and safe from any potential threats and hackers.

Polkadot’s current price is determined the same way digital currencies and fiat currencies (e.g. AUD) prices are determined. The polkadot price is determined the same way traditional assets like stocks and fiat currencies are determined. DOT price is influenced by supply and demand. When there is an increase of people wanting to buy Polkadot, the price of DOT will likely increase. However, a lack of demand will cause the price to fall.

The supply of Polkadot also affects the assets price. Low demand but high supply will cause Polkadot’s price to fall. Whereas an excess demand for DOT will result in a price increase.

Swyftx’s comprehensive security framework ensure’s all our users can trade DOT and other digital currencies in a safe and secure environment.

Some of the safety measures we have in place include:

• Two-Factor Authentication (2FA)
• JWT tokens & session expiry
• Checks for breached passwords on other websites
• External penetration testing

To further combat fraud and scam issues, Swyftx also leverages the same dataset and suite of solutions trusted by regulators, law enforcement and payments providers in Australia.