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Friday, September 30, 2022

How to buy Polkadot on SimpleSwap

Hi, guys and welcome to the simple swap cryptocurrency exchange! In this video, we will guide you on how to buy Polkadot in just a few simple steps using our platform. So let’s roll! First, let’s take a closer look at the Polkadot project. Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network.

The Polkadot Teams mission is to create a web where identity and data safely secured from any central authority. Polkadot is built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created.

Polkadot facilitates internet where independent blockchains can exchange information and transactions in a trustless way via the Polkadotrelay chain. The project makes it possible to create and connect decentralized applications, services, and institutions super easier than ever.

Polkadot has its own initial coin DOT which serves three distinct purposes: governance over the network, staking, and bonding. Nowadays Polkadot is among the TOP-5cryptocurrencies by market capitalization. Sounds cool right? Polkadot is definitely worth your attention.

Ready to get some DOT coins? Start with selecting the coin that you want to exchange in the You send section using the drop-down list. You can also use the search bar: just start typing the name of the cryptocurrency or its ticker. Next, enter the amount you would like to exchange. Now, select Polkadot in the You get section.

You can also use the search bar. After that, you will see the estimated amount of DOT you will receive. Please note that there is a minimum amount for every exchange. Do not send an amount less than the minimum one. Then you need to enter the Recipient’s PolkadotAddress.

Be extremely careful and double-check your Polkadot address. Your DOT coins will be sent to this address right after the exchange. Alright, now all the necessary details for the exchange are entered.

Once again, make sure that all the data is correct. If everything is ok, click the Exchange button, and you will be forwarded to the exchange page. At this stage, the status of your exchange is “Waiting”.

Here you will see the address to send the indicated amount of Bitcoin to continue the exchange. You can use the QR code to speed things up. After we have received the deposit to our address and the transaction has the required amount of confirmations – the status will be indicated as “Exchanging”, which means that your exchange is in progress.

While our system is sending you DOT, the status changes to “Sending”, and you will only have to wait for a little for the coins to reach your address. Now that’s it! Your exchange is completed and you can see the indicated status as Finished. In most cases, the exchange process usually takes up to 30 minutes.

See how simple it is? In case you have any questions left feel free to ask us in the comments below or contact our friendly support team using the email which you can find under this video. Thank you for watching our video and wont forget to subscribe and hit the notification bell if you want to see more videos from SimpleSwap.

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