Crypto Currency Polkadot: reviews, rates, where and how to buy? Get started, forum, exchange
Recently, cryptocurrencies, considered by some to be the money of the future, have been very popular. There are already thousands of virtual currencies on the market. In contrast to all of them, the Polkadot(DOT) cryptocurrency seems to be the most interesting, and unique project. This year it has managed to be among the top ten in the cryptocurrency ranking. Probably thanks to this, it attracted the attention of many investors and some see it as a chance to outdo Ethereum (cryptocurrency ETH).
Description and information about Crypto Currency Polkadot
Polkadot (DOT) is a cryptocurrency project of Web3 Foundation. It is designed for programmers and is based on a multi-chain network called a blockchain. It was founded in 2016 by the co-founder of Ethereum, Dr. David Wood, technology director of the Web3 Foundation, Peter Czaban, and main programmer at Parity Technologies, Robert Habermeier. The name was inspired by the rather controversial figure of Japanese avant-garde artist, Yayoi Kusama, who covered her paintings, sculptures, and fabrics with “dots”. The best possible way to visualize the idea of the Polkadot project is a huge network of chain blocks, created from dots. Thanks to such a construction it allows to transfer of assets of any kind between chains that can be created and connected. Therefore, it gives us the possibility to optimize each chain in the network individually, for the specific case of use. Thanks to this DOT does not have to adapt to the universal model, as is the case with some other cryptocurrencies. The project, therefore, offers high scalability to secure transactions, which definitely promotes security and enables it to operate efficiently.
Some people indicate that the main goal of Polkadot is to outdo and dethrone the Ethereum. This is quite a bold assumption, and recent actions show that in fact the two projects benefit from each other and rather live in symbiosis. There are many similarities between them, both are aimed towards programmers. They also work in a similar way because they are based on a scaling strategy that is based on parallel execution. However, the differences between them are significant and manifest themselves primarily in the part of the structure itself. Ethernum works on fragmented strings, while Polkadot uses several strings, which it divides into two categories. They also differ in software. Ethernum uses Solidity and Vyper, while Polkadot uses Rust and Substrate Framework. As we can see, Polkadot does not try to be a second Ethernum but fills in the gap that the Ethernum has left out.
The story of the Polkadot cryptocurrency itself is interesting. Although it was founded in 2016, it was not until this year that it became famous, because for many years it remained in a dormant and preparatory phase, perfecting its program. This was possible thanks to the fact that in 2017, during the ICO boom, the project collected 145 million dollars. Using these funds, it was able to refine the details of the program. Although it took a lot of time, it could not be said to be unprofitable. The great return of Polkadot to the stock market took place in 2020 when the project finally reached it
Where and how to start investing in Polkadot Crypto Currency?
There are so many investment opportunities that the current cryptocurrency market allows us to make that we often wonder what we can do to achieve the highest possible returns.
When we are looking for a long-term investment value, and when we want to expand our business or diversify our investment portfolio based on 1-tier protocols, we should definitely pay attention to DOT. Due to the fact that Polkadot allows to collect and secure a large amount of data, it is worth investing in this currency into all possible investments if it may turn out to be an advantage. Hence, the system is perfect for investments in cryptocurrencies in itself. However, investing in cryptocurrencies always involves a lot of risks and is recommended for people who are already more experienced in this field. On the cryptocurrencies market, we are also able to invest in Polkadot using binary options, which means that by betting on the direction of the price in a given time unit with a payout function. Although it is the simplest method, it has not become very popular and currently does not attract so many followers.
If, on the other hand, we are completely new in the world of cryptocurrencies and we are looking for something for our “first investment”, it is worth it to spend Polkadot on setting up an account in a brokerage house or creating a demo account on the Forex market. You can also buy bonds and base your investment plan on them.
As we can see, there are many options, and the promising DOT results in rankings and new projects promise even more opportunities in the future.
Reviews for Polkadot Crypto Currency. What do they write in the forum and in the press?
On the Internet, we can find a lot of information about Polkadot, its history, founders, or general concept. If we are looking for specific comments or descriptions of specific investments, the matter looks a little unclear. Polkadot, as an innovative project, is currently not very well known. Moreover, it is still expected to increase DOT supply. It is a fact that it attracts more and more recipients and supporters, however, the future development of this cryptocurrency is still in question. That is why the forums consider the future of DOT, which raises a lot of hopes rather than concrete cases of investments. This is the main direction on which internet users focus. It is worth adding that many people decided to buy DOT during vacations in 2020 when a huge leap in the ranking of this cryptocurrency was noticed. Although there are a few skeptics here too, the majority of Internet users believe in practical applications of the chain block and cryptocurrency system, finding in them the future of the investment and pointing out Polkadot as a system that can succeed. DOT is considered to be one of the most awaited projects this year. It is also slowly becoming a new hot trend on the stock market, and some even predict it will become the “new Ethereum”. It is not known whether Polkadot will meet the requirements, it has recently gained a lot of positive opinions and good development is forecasted.
Where and how to buy Polkadot? What Stock Exchange will be the best?
Polkadot, like most cryptocurrencies, is available for purchase both on the stock exchanges and in exchange offices. Exchange in an exchange office usually comes out more expensive than on the stock exchange, so it is recommended to use the stock exchange.
If you buy Polkadot, it will be good if you decide on a known cryptocurrency exchange market(preferably located in your own country). It is also worth to be particularly careful and before registering on a given exchange, read the list of warnings, which is kept by the Polish Financial Supervision Authority (KNF in polish). Thanks to this, we will avoid fraudsters, who, due to rather simplistic legal regulations, are constantly increasing. According to Polish rankings of cryptocurrency exchange platforms, where DOT can be purchased, it is worthwhile to use platforms such as Biance, Kraken, BitBay, CoinDeal, BitMarket, or CoinRoom.
DOT can also be purchased using CFDs, using the services of a broker. In this case, it is worth remembering that the fees for trading CFDs are comparable to those on the exchanges, but they are also considered less certain. Plus500, XTB or NSBroker brokers are very popular among users.
Where to check Polkadot exchange rate? Most reliable sources?
There are many analytical tools for checking currency exchange rates on the Internet. So which ones to use and not get lost in the flow of all this information?
The websites www.coingecko.com and www.coinmarketcap.com are the most popular ones. These platforms are frequently updated (they show cryptocurrencies rate changes every 24 hours) and summarize all the necessary information in weekly charts. They are also very easy to use. Equally valuable as the previous ones is the https://tokeneo.com/pl/ website. However, if you are looking for more detailed information, follow the stock market closely, and want to use a professional tool, it is recommended to familiarize yourself with the platform www.onchainfx.com. This website is addressed to people who are much deeper in this area. Compared to www.coingecko.com and www.coinmarketcap.com it seems to be more difficult to use, but its definite advantage is the more accurate information we can get from it.
All the above pages are considered reliable sources of data, so the choice really depends on us and our preference.