In order to help you in this task, we will give you complete information on how to go about buying and selling the Polkadot token in the best conditions. We will tell you about the different options that are available to you and the points you need to pay attention to.
The importance of using a serious and reliable exchange site
Before wanting buy or to sell of Polkadot, it is important to go to an exchange site serious. Indeed, if you go to a bad platform, you may get ripped off and never see the money you entrusted again. As much as possible, avoid new platforms or exchanges that have a poor reputation in the crypto community.
Polkadot begins to be a very popular cryptoactive. As a result, it is possible to get it on almost all platforms. However, it is not yet possible to be able to buy tokens directly. DOWRY with some euros or some dollars on all the exchanges that make the link between legal tender currencies and the world of cryptocurrencies.
Buy Polkadot using a bank card
To be able to buy Polkadot with a Bank card, you must use a buying platform that allows you to buy crypto-assets directly with fiat money. On these platforms, the choice is usually limited to a few digital assets and Polkadot is not yet available to users everywhere. However, it is a safe bet that this will soon become the case due to the growing popularity of the project.
If you are unable to obtain tokens DOWRY on an exchange that directly allows the use of a Bank card, we advise you to go through the intermediate step of first buying Bitcoin or from Ethereum with a bank card. Then you will have to transfer your ETH or your BTC on an exchange that has a trading pair DOWRY with one of these two digital assets.
Buy DOT Tokens Via Bank Transfer
When it is not possible to obtain DOWRY via a credit card, it will generally not be possible to purchase Polkadot through a transfer on the same exchange. Here too, it will first be necessary to start by buying an intermediary crypto – generally Bitcoin or Ether – which can then be converted to DOT.
Is it possible to buy DOT tokens through other payment options?
Unfortunately, cryptocurrencies that can be bought in several ways are quite rare and are often limited to BTC and to ETH. Even if Polkadot is establishing himself in the world of cryptocurrencies by becoming one of the active more capitalized, it will still take some time before you can buy it with Paypal, Paysafecard, Skrill or in cash.
As in the previous cases, it is likely that you will first need to get yourself another digital asset with these methods and then exchange it for tokens. DOWRY.
Buy Polkadot using BTC or ETH
The safest way to buy Polkadot is the use of Bitcoin or from Ethereum. The token DOWRY is listed on many exchanges and on most of them you can find trading pairs based on ETH where the BTC.
If you have already invested in cryptocurrencies, then you must already have in your possession one of these two cryptoacitfs. Otherwise, we invite you to get it on an exchange that links the money legal tender and the world of digital assets.
Properly secure your DOT tokens on a storage wallet
After purchasing your tokens DOWRY, it is important to think about them to secure correctly. For this, it is advisable to use a Polkadot wallet which is specially designed for store these tokens at best.
If you don’t know which Polkadot storage wallet choose, we invite you to consult our complete guide on the subject: the best Polkadot wallets (insert link). You can choose any wallet that we mention in this article, they are all secure enough that your DOT tokens are not at risk once on them.
You may also want sell your Polkadot. As in the case of buying, you may not be able to sell them directly for euros or some dollars and it will be necessary to go through another digital asset such as ETH where the BTC.
If the exchange site you are on allows a direct sale against euros or some dollars, then the procedure will be quite simple. You just need to exchange your tokens DOWRY against euros or some dollars, then request a transfer to your Bank account or on a credit card.
In the event that you cannot directly redeem your DOWRY against a legal tender, then it must first be transformed into ETH or in BTC before transferring it to an exchange that converts these digital currencies for real money.
Why sell your DOT tokens?
Each one is free to decide when he wants sell your DOT tokens. However, there are some reasons that should drive most investors to part with at least some of the tokens linked to a project.
If you hear bad news about Polkadot, it’s a safe bet that others will also hear about it and that it will have a negative impact on the prices of this asset. If you have obtained the information fairly quickly, it is worthwhile to part with your DOT tokens as quickly as possible. before they lose much of their value.
You can also be tempted invest in another project that seems promising to you. For example, if you estimate that your returns will be twice as high on another digital asset, then you may decide to sell your Polkadot tokens for invest that money elsewhere.
In some cases, you may have invested in too many different projects and that you no longer have the time to closely follow the evolution of Polkadot. In this case, it is better to sell your DOTs as you will not be able to properly follow the progress of the project which can cost you quite a bit of money.
Is it necessary to pay taxes on sales of Polkadot tokens?
It’s hard to tell whether or not you owe taxes if you make a token sale Polkadot. Indeed, laws vary from one country to another and, in some cases, the law in force is not always clear about the taxation of capital gains realized thanks to cryptocurrencies.
In France, the current law only imposes taxation when you turn your digital assets into a currency that is legal tender somewhere. In other words, if you are selling your Polkadot against other cryptocurrencies, you will not have to pay taxes on them. But things can change at any time.
To learn more about the taxation of cryptocurrencies, we invite you to consult our article that we have specially written on the subject: legal aspects of cryptoassets.
Conclusion on buying and selling Polkadot tokens
You are now able to carry out purchase and sale of Polkadot tokens. We hope that our explanations were sufficiently clear and that this will make it easier for you to invest in the project.
Even though Polkadot is starting to become very popular and one of the most capitalized cryptoassets, it is unfortunately not yet possible to be able to buy it directly with euros or dollars everywhere. However, we believe that will be the case in the near future and then you will no longer need to get hold of BTC or ETH in the first place to exchange them for DOT tokens.
The same goes for your sales operations. Nowadays, you also often have to convert your DOT tokens for Bitcoin or Ethereum before you can exchange them for fiat money.
Buying and selling Polkadot tokens isn’t the only guide we’ve written on this crypto-asset. If you want to learn more about the project as a whole, we advise you to visit our explanatory page on Polkadot.