What is Polkadot (DOT)?
Polkadot is a protocol that aims to award a network of computers worldwide. Instead of just focusing on token transfers, Polkadot’s main function is to facilitate the cross-chain transfer of any data type by creating a multi-chain sharding protocol on a blockchain in which people can launch and maintain their digital properties. rewards are distributed for participation in the Polkadot network.
Since Polkadot’s release in early 2020, it has already pioneered a number of new technological attributes. Permanent transfers on Polkadot occur on the mainnet which is known as the Relay Chain. The Parachain network is a user-created network of independent chains that can launch their own tokens and are built in a way that can run on the main Relay Chain. This allows the Parachain network the same protection as the Relay Chain. DOT is the native token of the Polkadot protocol, and it is used for network functions such as governance and creating parachains. Create your Swyftx account to buy Polkadot in New Zealand.
Read our guide to Polkadot to learn more.
How to buy Polkadot (DOT) in NZ
Crypto trading can be intimidating and confusing, especially if you’re a beginner. Fortunately, Swyftx has developed a user-friendly platform with a number of features designed to improve your trading experience. To buy Polkadot (DOT) on Swyftx, first, create an account, by clicking the ‘Sign Up’ button at the top of this page. Provide your full name, email address and phone number, and create a secure password. Next, you’ll need to complete the ID verification step by providing a piece of government-issued photo identification. This step can usually be completed within 2 minutes. After you’ve verified your ID, you can deposit money into your account via cr dit card and once your deposit has been received, you can trade Polkadot and hundreds of other digital assets.
What you can do with Polkadot
Hold/store Polkadot
Many people choose to hold or store Polkadot with the expectation that the price will increase in the future. When you buy Polkadot on the Swyftx Crypto Exchange, it will be automatically stored in the secure crypto wallet integrated into your account.
Send Polkadot
Swyftx allows you to send your Polkadot with ease. Simply buy DOT online, and send it to the wallet address of your chosen recipient.
Spend Polkadot
You may be able to pay for goods and services with your DOT tokens in New Zealand. More retailers and vendors are starting to accept Polkadot and other digital currencies for the purchase of goods and services every day.
