How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase DOT on BYDFi. We'll guide you through it
Choose how to purchase DOT on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (DOT). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store DOT in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your DOT to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy DOT on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive DOT
Trade
Answers
Is Polkadot's DOT a Good Investment?
In the few years since its inception, Polkadot's DOT has rapidly emerged as one of the leading cryptocurrencies in terms of market capitalization. As of June 2022, it ranks 11th in market cap and is actively traded on various top exchanges, including BYDFi, boasting high liquidity and trading volume.
The investment prospects for DOT appear promising, particularly as more chains connect to the Polkadot network and its interoperability continues to improve. The addition of additional parachains to the ecosystem has the potential to drive up the price of Polkadot, making it an attractive asset for investment.
Furthermore, the increasing adoption of Polkadot among Web3 projects could provide an additional boost to the DOT price. As Web 3.0 gains mainstream acceptance in the near future, Polkadot is positioned to be one of the most promising ecosystems for running decentralized applications (dApps).
What are the Use Cases of Polkadot (DOT)?
Polkadot (DOT) has several use cases, including:
Governance Token
Polkadot is a decentralized platform that gives DOT token holders voting rights to influence the evolution of its technology over time. As a DOT holder, you have a say in protocol upgrades.
Staking
You can stake your DOT cryptocurrency to enhance the resilience of the Polkadot ecosystem. Staked DOT is distributed as rewards to honest nodes, incentivizing good behavior and penalizing bad behavior.
Bonding
DOT also plays a crucial role in bonding native assets of parachains connected to Polkadot. DOT holders can stake their cryptocurrencies for bonding processes and retrieve the bonded tokens when a parachain ceases operations.
Crypto Asset for Trading and Investing
Polkadot is a popular digital asset in the crypto market for trading and investing. Before entering a new trade, make sure to check the Polkadot price, market cap, 24-hour trading volume, and perform fundamental, technical, and sentiment analysis.
Earn Passive Income on BYDFi
You can grow your crypto portfolio by holding DOT on BYDFi. Visit our Crypto Lending section, select Polkadot from the list of offerings, enter the amount of DOT you want to lend for liquidity, choose the duration (7 days, 14 days, or 28 days), and see the daily interest rates and estimated profits from lending DOT on BYDFi.
How can I transfer DOT to Polkadot-JS?
Polkadot-JS Wallet is the official wallet for the Polkadot network. Follow these steps to transfer your DOT crypto from BYDFi exchange to your Polkadot-JS wallet:
1. If you don't have one already, create an account on Polkadot-JS and set up your wallet.
2. Exchange other cryptocurrencies or stablecoins for DOT on BYDFi.
3. Take note of your Polkadot-JS wallet address from your account.
4. Go to your BYDFi trading account, select the DOT token, and choose the withdraw option.
5. Enter the amount of DOT tokens you want to send to your Polkadot-JS wallet and input your wallet address as the destination.
6. Before confirming the order, review the transaction details, including the transaction fees.
7. Within a few minutes, you will successfully receive the DOT tokens from your BYDFi account in your Polkadot-JS wallet.
How to Stake DOT on Polkadot-JS
Are you wondering how to stake DOT on the native wallet Polkadot-JS? Follow these steps:
1. Create an account on Polkadot-JS and add DOT funds by purchasing the cryptocurrency on exchanges like BYDFi and transferring them to your wallet.
2. To stake on the Polkadot network via nomination, you must hold a minimum of 10 DOT tokens.
3. After funding your Polkadot-JS wallet account, go to the Staking section under the Network tab.
4. When adding a nominator, select your Stash and Controller accounts and enter the number of DOT tokens you want to stake.
5. Choose a validator from the list and confirm the transaction by clicking the "Bond and Nominate" button. You will be prompted to re-enter your password to validate the staking order.
