Polkadot Exchange FAQ

by Adam Tracey

Polkadot (DOT) by the Web3 Foundation is one project that has recently gained a lot of traction in the crypto space, and for a good reason. This project is pushing the boundaries of blockchain technology and is led by the co-founder of the original ethereum project.

The problem is that for many people, the barriers to buying and selling cryptos like Polkadot can be high or just flat-out inconvenient, but there is a solution.

How Do I Get DOT Crypto?

To get DOT, you will need to buy or exchange for them, as is typical with most forms of cryptocurrencies. Digital assets can be exchanged in various ways, but not all offer the same flexibility to trade your way. Nevertheless, if you are a developer, trader, or just someone who wants to get started accumulating crypto-like Polkadot, it's not as hard as you think if you are doing it for the first time.

Don't get stuck fighting through the lengthy sign-up processes and hard-to-understand user interfaces; instead, read on to find out the best way to get DOT, whatever your situation.

Where Can I Trade Polkadot?

While Polkadot is popular on many centralized exchanges, this form of order book exchange can be complex in some ways and limiting in others. However, trading cryptocurrency shouldn't be hard, and with P2P trading on LocalCoinSwap, it doesn't have to be either. You have access to hundreds of payment methods and can trade with others around the world directly, but with the safety provided by the escrow on the platform.

Suppose you want to buy Polkadot without being limited by only a couple of payment methods or other limitations of order book exchanges. In that case, trading Polkadot P2P is the solution to completing trades fast and efficiently. Even if it's your first time trading on LocalCoinSwap, that's no problem, as sign-up is instant! You can be trading quickly with as little as an email address. While Polkadot is popular on many centralized exchanges, this form of order book exchange can be complex in some ways and limiting in others. However, trading cryptocurrency shouldn't be hard, and with P2P trading on LocalCoinSwap, it doesn't have to be either. You have access to hundreds of payment methods and can trade with others around the world directly, but with the safety provided by the escrow on the platform.

Some of the Benefits of Buying Polkadot Crypto P2P:

  • A vast range of payment methods to choose from
  • Can exchange DOT with traders from around the world
  • Non-custodial exchange provides increased security
  • Escrow makes trading DOT safer than many alternatives
  • Exchange DOT with hard to find payment methods
  • Access to traders around the globe
  • Signup is instant and you can be trading in just a few moments
  • Trade on your terms

How to Buy Polkadot with Cash?

If you want to buy DOT with cash, the only way is P2P. Unfortunately, using centralized exchanges removes the ability to use convenient payment methods like cash, leaving those that don't have access to the minimally supported payment methods left out.

If you want to exchange DOT for cash, it's simple:

  1. Head over to LocalCoinSwap and create an account if you don't have one already
  2. Use the search bar to select Polkadot and set your payment method to cash-in-person, or perhaps other cash-based payment methods like cash-by-mail. You can also set the location and other things you feel are essential in making your trade go smoothly.
  3. Once you find a trade offer that suits your needs, enter the DOT amount you wish to buy (or you can also sell DOT) and start your trade.

Follow the steps provided, and you'll have your trade completed in no time. Of course, if you have any problems, our moderation team will step in and resolve them quickly.

Trade Polkadot with Escrow Protection

One of the best things about P2P trading is being able to trade with just about anyone. Better yet, you can do so with the protection the escrow provides when trading on LocalCoinSwap

Once a trade has been accepted, the escrow is funded. The escrow holds the DOT securely while the trade is taking place. Once the trade is completed and payment has been received, the seller can release the DOT to the buyer. If there's a disagreement, the trade can be disputed. If you have a dispute over the trade, the moderation team at LocalCoinSwap will soon have it resolved and released to the rightful owner.

Trading P2P without escrow is never a good idea. The protection provided by escrow helps ensure that both sides of the trade hold up their end of the bargain; reducing the need for trust allows for more exchanges and peace of mind.

Making Money Trading Polkadot

Trading P2P can be more than a great way to trade crypto; it can also be a way for you to make money from your interest in cryptocurrency. It doesn't matter if the market is going up or down, you can make money trading P2P, and you can entirely skip margin trading.

People worldwide are creating opportunities for themselves by becoming vendors on LocalCoinSwap and providing access to cryptocurrencies for other traders. However, not everyone has access to the same payment methods, and some just prefer the convenience of using their favorite; this is where P2P trading shines.

Whether you allow others to buy Polkadot using bank transfer or maybe offer smaller trades accepting PayPal, P2P trading is just a brilliant way to trade. You can trade locally or internationally, with common or even obscure payment methods; the choice is yours. Make P2P trading your own, and make it profitable for you. Start trading your own way with LocalCoinSwap.

Get Polkadot now using the most popular non-custodial P2P marketplace where you can buy, sell, and swap the most popular cryptocurrencies.