How to Buy Polkadot in 3 Simple Steps
Create your free Kraken account
Provide your email address, country of residence and secure your account with a strong password
Connect your funding method
Connect your card or bank account after Kraken verifies your account
Buy DOT with as little as $10
Check the price of Polkadot and
use our DOT to USD Converter
Check the current Polkadot price on Kraken to help inform your DOT purchase.
DOT to USD Converter
Use our simple DOT to USD converter to see how much Polkadot you can buy with USD.
You can also check DOT's price in USD as well as important metrics such as DOT trading volume, the percentage change in DOT price, and the past 24 hours’ highest and lowest prices.
Why buy Polkadot?
You may want to buy DOT if you want to:
Support the development of smart contract platforms
Invest in cryptoassets that power scalable blockchains
Stake DOT to participate in the platform’s governance
Delegate DOT to nodes and start earning portions of the block rewards
Have you placed your DOT order yet?
today on Kraken
USD value of DOT
purchased today on Kraken
Purchase Polkadot today
with just a few clicks
What is Polkadot (DOT)?
Polkadot is a blockchain project that promotes cross-chain interoperability by allowing disconnected, independent blockchain networks like Acala, Centrifuge and Phala to transmit data and crypto assets between one another. Polkadot achieves this by connecting specialized blockchains, called parallel blockchains, or parachains, to a single blockchain, referred to as the relay chain.
The relay chain handles the important blockchain technology components such as security and data validation using a nominated proof-of-stake (NPoS) consensus mechanism, while parachains can be customized to provide a range of unique services and features. New parachains are added to the Polkadot ecosystem through a community based process, referred to as a Parachain Slot Auction.
DOT is the project's native token and serves a number of purposes. DOT token holders can participate in crypto staking to earn network validator rewards. DOT also serves as a governance token, meaning holders can lock away their tokens to gain the ability to vote on proposed changes to the protocol. DOT tokens are also used to pay all transaction fees on the Polkadot network.
Want to dive deeper? Read Kraken’s What is Polkadot? (DOT) to learn more.
Who created Polkadot?
Polkadot was first developed by Peter Czaban, Robert Habermeier and former Ethereum co-founder Gavin Wood in 2016. The protocol went live four years later.
Gavin Wood is responsible for inventing Solidity, the programming language that powers Ethereum's blockchain technology. The team also created Kusama, the so-called “canary network” where new parachains can be tested before joining the wider Polkadot ecosystem.
How is Polkadot used?
Polkadot is designed to be used as the internet of blockchains, allowing independent chains, including custom blockchains, to be able to communicate with each other. Any type of token or data can be transported between parachains and transactions are spread across the entire network of connected blockchains to allow for greater scalability and speed. This has allowed the Polkadot ecosystem to become one of the leading networks for cross-blockchain transfers of value and data.
Parachains can be built from scratch using the project's Substrate framework to make interoperability with other chains easier from the get-go. Existing blockchains can also join the Polkadot ecosystem as parachains or parathreads.
In order to join the network, projects must bid for one of 96 slots in a process called Parachain Slot Auctions. These follow a candle auction format whereby potential projects bid using DOT to secure a lease until an unknown time period elapses. Slots can be leased for a maximum of 96 weeks (~ two years) before they become available again for others to bid on.
Projects can also lean on their communities to provide digital currencies and help fund parachain bids.
How many DOT coins are in circulation?
There are currently over 1.1 billion DOT tokens in circulation. Polkadot is an inflationary project, meaning it has an unlimited supply.
Why buy Polkadot with Kraken?
With more than a decade of experience, Kraken has established itself as a pillar of the cryptocurrency industry. While we have grown to now offer over 200 cryptocurrencies, we remain one of the best places to buy DOT.
At Kraken, our focus has and will always be on:
Buy crypto on the go
How to buy Polkadot with a credit card or bank account on the Kraken app
The official Kraken app is the perfect way for you to conveniently buy or sell DOT from the palm of your hand. You can buy Polkadot from anywhere as soon as you:
- Download our app from Google Play or the iOS App Store
- Create your account in minutes
- Connect your bank account or credit card
Get the app
How much DOT can I buy with Kraken?
You can buy Polkadot on Kraken with as little as $10 since each DOT is divisible into smaller units. While you do not need to execute larger orders, Kraken’s advanced price discovery and execution technology helps offer some of the best rates of any cryptocurrency exchange.
Your verification level determines what you can do with your Kraken account. This can be located by signing into your account, selecting your name in the upper right and then selecting Get Verified. You will then see highlighted your current (pending or verified) level.
Dollar cost averaging is a popular strategy that allows you to invest in an asset at regular time intervals using fiat currencies (cash) and other payment methods like a bank transfer, regardless of its price. This sort of recurring buy strategy is designed to help build wealth over time while minimizing the impact of unpredictable price changes.
How to keep your DOT investment safe
Kraken works hard to protect your DOT
When you buy Polkadot with Kraken, your crypto is automatically stored in our hot wallet — an accessible but highly secure place to keep your DOT safe.
Kraken allows you to hold your own Polkadot
Our rigorous security standards ensure that our users’ crypto is always safe on our platform. However, if you want to hold or transfer your Polkadot, Kraken allows you to take full custody of your DOT in the wallet of your choice, unlike many other fintech services. DOT can easily be stored on hardware wallets, web, or mobile wallets.
How to Buy Polkadot FAQ
How can I stake Polkadot?
Can I buy DOT with my credit or debit card?
Is Polkadot a good investment?
What is the best way to buy Polkadot?
Where can I buy a Polkadot token?
What is the cheapest way to buy Polkadot?
How can I safely store Polkadot coins?
More from the Kraken Learn Center
Take your learning to the next level with Crypto Guides.
Polkadot seeks to incentivize a global network of computers to operate a blockchain on top of which users can launch and operate their own blockchains.
No longer interested in helping power the Polkadot blockchain? It might be time to sell DOT.
Read our guide on how to buy Ethereum and start trading now on Kraken.
Today, there are thousands of digital assets claiming to satisfy the definition of a cryptocurrency.
Parachain slot auctions give developers ways to create new crypto assets and decentralized applications on top of its blockchain.
Information provided in this “Learn” section is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Kraken makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.