How to Sell Polkadot (DOT)
No longer interested in helping power the Polkadot blockchain? It might be time to sell DOT.
Whether you’re no longer operating your own parachain or you simply wish to stop earning rewards through staking, Kraken allows you to sell DOT directly for Bitcoin (BTC), U.S. dollars (USD) and euros (EUR).
In fact, Kraken offers over 150 trading pairs in total, so, depending on how you decide to sell DOT, you can gain exposure to a wide range of other assets.
If you’ve already decided now is the best time to execute a trade and sell DOT, follow the steps outlined below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some DOT!
New to crypto?
For more details on how DOT derives its value, read our official “What is Polkadot?” guide.
Why sell DOT?
Sure, you can stake DOT and earn 12% rewards annually, but depending on your risk tolerance and investment allocations, you may find it advantageous to sell DOT and rebalance your crypto portfolio from time to time.
You might sell DOT if you want to:
- Adjust your long-term crypto strategy
- Avoid losses in times of sudden price movement
- Capture gains from validating transactions on the network
- Exchange DOT for other crypto or fiat currencies
- Stop earning rewards by staking DOT
How to sell DOT on Kraken
If you’re ready to go ahead and sell DOT, follow these simple steps below:
Sign up for a Kraken account.
You just need an email address, username and a strong password.
Verify your account.
All you need is your name, birth date, country of residence and a phone number.
Send DOT to your Kraken Address
If you want to sell DOT for another cryptocurrency (like ALGO or XTZ), first you’ll need to create a deposit address in your Kraken account. Depositing DOT on Kraken is as easy as transferring it to any cryptocurrency address.
If instead you want to sell DOT for a fiat currency (like GBP or EUR), you’ll need to send us identification and proof-of-residence documents. Learn more about our different verification levels here.
Once your account has received funding, you can begin selling DOT and other cryptocurrencies on Kraken.
Start selling DOT
Not sure if you want to sell? You can always continue holding DOT. If you have more technical questions, you can also reach us on LiveChat or by email 24/7/365.