Although Polkadot Coin (DOT) was launched as recently as 2020 – the project has already established itself as a top-10 digital currency in terms of market capitalization. With this in mind, it makes sense that you can easily invest in Polkadot Coin in the UK – should you wish to diversify your portfolio.
In this guide, we walk you through the process of how to buy Polkadot Coin in the UK and discuss the best online brokers to consider using.
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How To Buy Polkadot Coin – Choose a Broker
The thing to think about when learning how to buy Polkadot Coin in the UK is to carefully choose a broker. This is no different from selecting a suitable stock broker to buy shares, albeit, you’ll be looking to pick a specialist cryptocurrency provider.
Below you will find a small selection of the best online brokers that allows you to invest in Polkadot in the UK.
- Coinbase – Overall Best Broker to Buy Polkadot Coin in the UK
- OKEx – Best Broker to Buy Polkadot Coin with Crypto
- Binance – Best Broker to Buy Polkadot for Asset Diversity
If you’re completely new to cryptocurrency brokers and exchanges – we review the above Polkadot Coin providers further down in this guide.
How to Buy Polkadot Coin in the UK – A Quick Guide For 2021
If want to buy Polkadot Coin from the comfort of your home without reading this guide in full – check out the quickfire walkthrough below. In doing so, you’ll be able to invest in Polkadot Coin in the UK in less than 5 minutes!
- Step 1: Open an Account with Coinbase – Coinbase is the best broker to buy Polkadot Coin in the UK – as the platform is relatively simple to use and supports debit cards. Get the ball rolling by opening an account.
- Step 2: Upload Your ID – If you want to buy Polkadot with a debit card, you will need to upload some ID. This can be a passport or driver’s license.
- Step 3: Buy Polkadot Coin – Coinbase allows you to buy Polkadot Coin directly – meaning you can now enter your debit card details and the amount you wish to invest.
Once you confirm the purchase, Coinbase will execute this instantly. The DOT tokens will then be displayed in your Coinbase account! You can leave them there or withdraw the tokens to an external wallet.
Where to Buy Polkadot Coin in the UK
One of the most important decisions you need to make when thinking about how to buy Polkadot Coin in the UK is that of the broker or exchange you decide to use. Not only do you need to look at fees, payments, and user-friendliness – but how safe the platform is.
To help you pick the right platform to complete your Polkadot Coin purchase with, below we review a number of top-rated brokers.
1. Coinbase – Overall Best Crypto Broker to Buy Polkadot Coin in the UK
Coinbase is by far the best online broker to buy Polkadot Coin in the UK. First and foremost, the platform allows you to invest in DOT tokens via a direct debit card purchase. This means that you can simply select Polkadot Coin from the list of supported cryptocurrencies, enter your stake and debit card details, and then confirm the investment.
As soon as you do, the coins will be added to your Coinbase portfolio. You will, however, need to first open an account. This will require some personal information from you – alongside a copy of your passport or driver’s license. This is known as a KYC (Know Your Customer) process and is required as per anti-money laundering laws. Fortunately, Coinbase is usually able to verify ID documents in less than a few minutes.
When it comes to fees, we should make it clear that Coinbase is somewhat pricey. For example., by investing in Polkadot Coin directly with your debit card, you will be charged an all-in fee of 3.99%. This means that for every £500 invested, you will pay Coinbase £19.95 You can reduce your fees by transferring funds from your UK bank account. This won’t be an instant purchase though, as you will need to wait for…