What is Polkadot (DOT)?
Polkadot is a public decentralized multi-chain network that prioritizes interoperability and scalability while not compromising on security. The network was founded by Gavin Wood, co-creator of Ethereum, and raised USD 145 million in its high-profile ICO in 2017. As one of the biggest projects supported by the Web3 Foundation, it is undoubtedly a project worth one's attention.
How Polkadot (DOT) Works
Unlike the majority of public blockchain networks, Polkadot introduces great infrastructure improvements. It consists of one main blockchain called the "Relay Chain", and quite a few independent sub-chains called "parachains". The Relay Chain is responsible for security, governance, and data validation. Each parachain is independent and customizable to every developer's needs. Though the parachains operate independently, they benefit from the security and interoperability of the Relay Chain, as there exist many bridges among the parachains and between the Polkadot network and other blockchain networks. At the moment, it is estimated that about 100 parachains are working in Polkadot.
Because of such a multilayered structure, Polkadot can achieve speed, security, and scalability at the same time, and is thus considered among the most scalable public blockchains, even more so than layer-2 solutions.
Polkadot uses the Nominated Proof of Stake (NPoS) consensus algorithm, in which DOT holders can act as one of four stakeholders of the blockchain as follows:
- Nominators: pick validators, and secure the Relay Chain
- Validators: take part in consensus, and validate proofs from collators
- Collators: keep track of transaction records on parachains, and send such records to the Relay Chain
- Fishermen: report unusual behaviors in the network
How Many DOT Tokens Are in Circulation?
DOT is the native token of the Polkadot blockchain that can be used for staking and governance. There is no hard cap for DOT. The current DOT amount in circulation is 1.12 billion.
How to Buy Polkadot (DOT)
Consider investing in Polkadot (DOT)? It only takes 2 minutes to create an account on Bitget and start trading DOT.
Check out the available DOT trading pairs on Bitget!
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Simple 3-step guide to buying DOT today in Montenegro
Create your free Bitget account
Select a funding method
Complete your polkadot purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for polkadot using a payment method of your choice:
Buy polkadot with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your polkadot order.
How to buy crypto with credit/debit cardBuy polkadot with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into polkadot is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your polkadot order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your polkadot order.Buy polkadot with the fiat balance in your Bitget account
You can Deposit fiat funds using SEPA to top up your Bitget fiat balance. Then click Buy Crypto > [Cash conversion] in the top navigation bar to place your polkadot order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor polkadot in your Bitget spot wallet
Bitget—where the world trades polkadot
How to buy polkadot for free
- Learn how to earn polkadot for free through the Learn2Earn promotion
- Earn free polkadot by inviting friends to join Bitget's Assist2Earn promotion
- Receive free polkadot airdrops by joining On-going challenges and promotions
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Located in Southeastern Europe and forming part of the Balkans is Montenegro, a nation that shares its borders with Serbia to the northeast, Croatia to the northwest, Bosnia and Herzegovina to the north, Kosovo to the east, Albania to the southeast, and the scenic Adriatic Sea to the west. Its coastline for the latter runs a whopping 293.5 kilometers long, with its capital city Podgorica located inland to the east. The city spans 13,812 square kilometers and is home to around 30% of Montenegro’s overall population of 621,000. There, you’ll find plenty of culturally-rich museums and art galleries, including the city’s main museum and the Center for Modern Art.
Due to the diversity of its landscapes which stretch from the coast of the Adriatic Sea to the mountain ranges of Durmitor, Bjelasica, Sinjajevina, Prokletije, Komovi, and more, the country attracts approximately 1.3 million tourists every year. Interestingly, more than 60% of the nation sits at an altitude of 1000 meters above sea level or more, meaning you’ll be able to ski up in the mountains and swim in the sea on the same day during mid-season changes. There are also four national parks, with Durmitor National Park earning the title of a UNESCO World Heritage Site.
Currently in the process of joining the European Union, Montenegro has adopted the Euro (EUR) as its official currency, and with direct support from Bitget, you can purchase polkadot(DOT) in just a matter of minutes, no matter where you are in the country, from Podgorica to Nikšić to Herceg Novi. Our exchange offers a series of secure payment options to make trading easier for you, including P2P trading, crypto deposits, and other third-party merchants such as Apple Pay, Google Pay, and different credit card services.