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Polkadot – A platform that is making a wide range of blockchains interoperable with each other as it is an open-source multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens. The crypto is gaining the attention of bulls, more and more traders are thinking to get involved in the Polkadot rally. And beginners are quite confused about buying and selling the DOT, so here is some information regarding buying and selling of DOT which can help beginners:-

How to buy Polkadot?

Polkadot has been registered on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be purchased directly with fiat money. However, you can still easily buy these by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade Polkadot.

Unlike other main cryptocurrencies, you cannot buy Polkadot directly with fiat money. But you can choose the Polkadot exchange technique,i.e., you can first buy Bitcoin or any other cryptocurrency from any exchange, then transfer it to the exchange that offers to trade Polkadot, and then exchange your purchased cryptocurrency to Polkadot.

There are many exchanges that offer DOT trading markets including Binance, Huobi Global, HBTC, etc. Binance is the cheapest Polkadot exchange with a maximum fee of 0.10% fee. It offers a BNB discount and cashback too.

It is just you have to make ensure that you’re choosing a safe and reliable Polkadot exchange. How to choose one?

There is a long list of exchanges that offer Polkadot trading, so it can be hard to choose among those, especially when you’re a beginner. To determine the most appropriate exchange for you, you have to consider some points:

Reputation and popularity of the exchange
High liquidity
High confidence score
Low fees
No-wash trading
Based on these factors you may choose an exchange for trading your coin.
Visit Cointocurrency to know how you can buy Polkadot in India.

The Supreme Court’s order to assist the RBI ban on crypto commerce in India has made-up the way for the scene up of cryptocurrency-based banks in the country, where customers can keep crypto savings accounts. Aside from getting interested in the cryptocurrency deposit, customers may also opt for rupee loans against crypto, where the cryptocurrency will enact as collateral.

In case the banks commence accepting cryptocurrencies, will the prohibition on crypto trading in India be raised fully?

There is no ban on Crypto in India. There was a banking limitation, which was kept down by the Supreme Court of India in March 2020, stated Nischal Shetty, CEO, WazirX.

Though, London-based online cryptocurrency platform Cashaa has bound up with the United Multistate Credit Cooperative Society to render savings accounts and loans to crypto capitalists in India.

Speaking on the potential of a crypto banking system in India, Shetty said, We consider that in the next 6-12 months, crypto banking will become a reality. One of the better reasons behind this is that banks across the world are already actuating on supply crypto services. Especially in the US, JP Morgan already shares its intent about rendering crypto services, PayPal a FinTech large has proclaimed its crypto service content, Square is already providing crypto services to their customers in the US.

Lately in Singapore, DBS bank proclaimed their own crypto exchange. We accept that a couple of banks will begin providing crypto services to its customers, he said.

We accept that it will also occur in the Indian banking aspect where crypto will be thoughtful as collateral while fetching loans. We also accept that there will be some crypto startups adjusted to render loans to Indians against crypto, Shetty added.