DOT is a token of Polkadot, an open-source sharded blockchain that effectively solves the blockchain interoperability issue.
What Is DOT?
DOT is a token of the sharded Polkadot blockchain. The Polkadot ecosystem connects a secure network of blockchains that facilitate the transfer of assets and blockchain-based data. With it, Polkadot solves one of the main issues of a blockchain: interoperability.
How to Buy DOT on LetsExchange: a Step-by-Step Guide
DOT can be bought on LetsExchange for one of 3,900+ supported coins and tokens. The process of swapping is easy and straightforward. You aren’t required to provide any personal or financial data to purchase DOT, and there are no upper limits for your purchase.
If you want, you might register an account to access more functionalities and a profitable referral program, but this step is not mandatory, you can exchange coins without registration.
To swap any coin for DOT, proceed with the following instructions. Open our exchange widget.
In the You Send field, select the coin that you will use for buying DOT. Type in the sum you want to sell.
In our example, we use BTC for simplicity, but you can use any of the 3,900+ available coins and tokens. So, we will be swapping 0.01 BTC.
Pick a fixed or a market rate for your swap.
A fixed rate ensures you get the same amount of coins that is displayed when you are starting th swap.
A floating rate means that the number of coins to receive may differ from the number that is displayed in the widget when you start the swap. It is because cryptocurrency is very volatile, and the exchange rate may change while your swap is processed.
In the You get window, select DOT.
Note please that the DOT coin is supported in several networks. Make sure you pick the right coin in the right network. Otherwise, your funds may be lost.
In our example, we choose the DOT coin in its native blockchain.
Now, you can see the coin in the You get field. The sum of coins to receive is also displayed.
In case you have a promo code, provide it too, to get cashback.
Hit the Swap button.
Paste the wallet address to which you will receive DOT in the DOT receiving address field.
Provide also a refund address if you want. We will refund your funds there if your transaction doesn’t go as expected.
Check all data once more, and click on the Apply button.
Now, you will be displayed a deposit address. Send your BTC there, and once we get the coins, we will swap them for DOT and send to your receiving wallet address. After the swap is completed, you can download a receipt with all the swap information.
Conclusion
DOT is a token of Polkadot, a solution that is effectively used to solve the interoperability and scalability issues. With the growing adoption of blockchain technology, the need in such a solution will be increasing, too. Buying DOT now is a wise investment decision, and you can do it easily on LetsExchange.