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Buy Polkadot (DOT) in UK With GBP | CoinJar
Polkadot
DOT
What is Polkadot?
Why investors buy Polkadot: Polkadot’s primary mission is to help multiple separate seemingly incompatible blockchains all work together like they are compatible, as per Polkadot's whitepaper.
Traditional blockchains operate pretty much all alone, limiting their ability to communicate and share data.
Polkadot changes the game by connecting these blockchains — like a digital highway where information flows freely between different projects.
The DOT token or cryptocurrency is used in the Polkadot ecosystem.
DOT Token
Polkadot (DOT) was launched through its initial coin offering (ICO) in October 2017.
During the ICO, the initial price of Polkadot was US$0.29, and a total of 2.24 million tokens were offered.
Since then, Polkadot has evolved significantly, and its price has experienced wild fluctuations. At its all-time high price, it was trading at US$55, in October of 2021, however at the time of writing, 28 March 2024, the price of DOT was US$9.40.
The native DOT token serves several purposes. It can just be a speculative investment. People buy the token at what they think is a competitive price, and sell when they think it won’t go much higher. (Or they buy it at the top of the market and end up having to sell after the price drops!)
Other uses of DOT
Governance: DOT holders participate in decision-making, shaping Polkadot’s future.
Staking: Lock up DOT to secure the network and earn rewards.
Bonding: Parachains use DOT as collateral to secure a slot on the Relay Chain.
Owning DOT means being an active participant in the Polkadot ecosystem.
Energy efficiency
Polkadot’s proof-of-stake (NPoS) model consumes significantly less energy than traditional blockchains. It’s reported to be environmentally friendly and sustainable.
Polkadot: In Summary
Polkadot (DOT) isn’t just another cryptocurrency. It’s a multichain network designed to address scalability and interoperability issues faced by traditional blockchains.
Polkadot was founded by the Web3 Foundation.
This open-source project brought together some of the brightest minds in the blockchain industry. Their goal? To create a platform that enables seamless interaction between different blockchains.
Cash, credit or crypto?
Buy Polkadot using Visa or Mastercard. Get cash in your account with Faster Payments Service (FPS). Convert crypto-to-crypto with a single click.How to buy Polkadot with CoinJar
Start your cryptocurrency portfolio with CoinJar by following these steps.
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Frequently asked questions
What is Polkadot?
Polkadot is a blockchain platform that enables different blockchains to connect and interoperate with each other. To buy Polkadot (DOT), you'll need to find a reputable cryptocurrency exchange like CoinJar.
You won't need a specific Polkadot wallet on CoinJar. Next, select your preferred payment method to purchase Polkadot. You can buy crypto using a credit card, bank transfer, or other coins to buy DOT.
When you're ready to buy Polkadot, simply select DOT, enter the amount you want to purchase, and confirm your transaction. Remember to consider factors like fees and trading volume before making your purchase.
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