Polkadot or simply referred to as DOT by crypto purists, is an open-source protocol comprised of a multichain architecture applying a unique sharding mechanism that facilitate the cross-chain interoperability of its data, token and even asset types. These set of methods makes it possible for Polkadot to make a wider range of blockchains to be compatible with each other.

Polkadot logo
Polkadot logo

Polkadot is one of the latest assets that's getting the attention of the cryptocurrency market and the good news is that this can be traded on eToro. If you want to learn how it works in more detail and how to invest on it, make sure to read on!

🏷️ Crypto Name Polkadot
🚩 Symbol DOT
💰 Minimum Investment $10
🏷️ Buy/Sell Fee 1%
⌚ Market Open 24/7
eToro Polkadot Trading Details

Already thinking of investing in DOT?

77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to Buy/Trade Polkadot on eToro?

You can invest on Polkadot via eToro's online trading platform. Once you have opened an account and made your first deposit, follow the very basic steps below:

  1. On your eToro dashboard, click "Discover".
    Clicking "Discover" on eToro
    Clicking "Discover" on eToro
  2. Select "Crypto".
    Selecting "Crypto" eToro's platform
    Selecting "Crypto" on eToro's platform
  3. Scroll down to look for "DOT".
    Looking for DOT on eToro's list of crypto assets
    Looking for DOT on eToro's list of crypto assets
  4. Click "Buy" and set the amount you want to invest.
    Buying Polkadot (DOT) on eToro's platform
    Buying Polkadot (DOT) on eToro's platform
  5. "Click "Open Trade".
    Executing DOT buy order on eToro
    Executing DOT buy order on eToro

Minimum Amount for Buying DOT

To buy or trade DOT on eToro, you will need to place a minimum investment size of $10.

Take note: The minimum trade may differ per region and this may also depend on the rules and regulations in your country. So, to be sure of the minimum amount you need to invest in DOT in your region, it is advisable to check the terms and conditions on eToro's website or reach out to their customer support for clarification.

How to Sell Polkadot (DOT) on eToro?

To sell your Polkadot on eToro, you need to close your open position. Go to your portfolio, select the DOT position that's currently open, and click on "Close Trade" or the red X button. If you have multiple open DOT positions, you have the choice of closing just a few positions or all of them.

After doing this, your initial investment plus any profits or losses will be credited back to your account. This is known as "shorting" in trading.

Fee for Buying or Selling Polkadot

When you buy Polkadot on eToro, you become the owner of the asset. You also need to be aware that you will be charged with a 1% fee for buying or selling DOT tokens. This fee is already included in the market price shown when you open or close a position. It means that has been added to the Bid-Ask spread of the market price.

Take note of this: When you open a new position, you will initially see a loss in the position. This is because the displayed Profit & Loss (P/L) includes the 1% buy fee that you paid and the additional 1% sell fee that you will need to pay when closing the position.

How to Copy Polkadot Traders on eToro?

In order to copy other Polkadot traders on eToro, you need to open an account first and complete the verification process. This includes providing your personal information, verifying your identity, and completing a questionnaire to assess your trading experience and risk tolerance.

After doing this, here are the steps to follow:

  1. Navigate to the platform and search for traders who are trading Polkadot. You can do this by using the search bar at the top of the screen and typing in "Polkadot" or "DOT." This will bring up a list of traders who are actively trading Polkadot on the platform.

  2. Once you have identified a trader that you want to copy, click on their profile to view their stats and performance history. This will give you an idea of their trading strategy, risk profile, and historical performance.

  3. If you decide to copy the trader, simply click the "Copy" button on their profile page. You will then be prompted to enter the amount of funds you want to allocate to copying their trades.

  4. Once you have set the amount of funds you want to allocate to copying the trader, eToro will automatically execute trades on your behalf based on the trades made by the trader you are copying. This means that you don't have to actively monitor the market or make trading decisions on your own - the trader you are copying will do this for you.
eToro Fact

DOT Copy Trading - Did You Know?

Copying other DOT traders does involve risks, and there is no guarantee that the trader you are copying will make profitable trades. However, by carefully selecting traders with a proven track record of success and by diversifying your portfolio, you can potentially minimize your risks.

Analyzing Polkadot on eToro

eToro offers a variety of tools and features for analyzing Polkadot and other cryptocurrencies. Some of the key tools for analyzing DOT with this broker include the following:

  1. Price Charts
    They provide detailed price charts for DOT, which can be customized to display different timeframes and technical indicators. You can use this to identify trends and potential entry and exit points for your trades.

  2. Technical Analysis Tools
    In addition to price charts, there are also a variety of technical analysis tools, such as trendlines, moving averages, and oscillators. These tools can help you recognize patterns and potential trading opportunities in Polkadot's price movements.

  3. News and Market Sentiment
    The trading platform has real-time news and market sentiment data for Polkadot and other cryptocurrencies. You can utilize this so you can stay up-to-date on important developments and market trends that may impact DOT's price.

  4. Social Trading
    Using eToro's social trading feature allows you to follow and copy the trades of other successful traders on the platform. This can be a very valuable tool especially if you are new to the market or looking for new investment ideas.

How eToro Ensures the Security of Your Polkadot Holdings

If you are holding Polkadot (DOT) on eToro, it's important to understand the measures that this broker takes to ensure the safety of your holdings.

  • Regulated by Financial Authorities
    One of the primary ways that eToro ensures the security of your Polkadot holdings is through regulation by financial authorities. The company is regulated by several leading authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). These regulatory bodies oversee eToro's operations and ensure that the company meets strict standards for security and financial stability.

  • Two-Factor Authentication
    They require all users to set up two-factor authentication (2FA) to access their accounts. 2FA adds an extra layer of security to your account by requiring you to enter a code sent to your mobile phone in addition to your password. This can help prevent unauthorized access to your account and your Polkadot holdings.

  • Secure Storage
    All Polkadot holdings are stored in secure, offline wallets that are protected by advanced security measures, including encryption and multi-signature technology. This means that your DOT holdings are not accessible through the internet, making them less vulnerable to cyberattacks.

  • Insurance Coverage
    eToro also provides insurance coverage for its users' holdings. The company has a comprehensive insurance policy that covers all user funds, including Polkadot holdings, in the unlikely event of a security breach.

  • Ongoing Security Monitoring
    They employed a team of security experts who continuously monitor the platform for potential security threats. The company uses advanced monitoring tools and protocols to detect and prevent unauthorized access, hacking attempts, and other security risks.

Here's the deal:

The measures outlined above are just a few of the ways that the company ensures the safety of your Polkadot holdings. This will give you peace of mind when trading Polkadot and other assets on their platform.

eToro's Polkadot Wallet

If you’re concerned about losing your DOT coins, you can download the eToro wallet for free on Android or iOS. The crypto wallet provides high-level security and can be downloaded for free.

eToro Wallet app
eToro Wallet app

One of the more popular features of eToro is its cryptocurrency wallet. It's a secure and accessible multi-cryptocurrency digital wallet for storing over 120 cryptocurrencies, including DOT. Via this crypto wallet you can buy, store, receive and transfer all your cryptocurrency effortlessly.

Interested to have your own eToro Wallet? Click on the button to get started.

77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Benefits of the eToro Polkadot Wallet

Listed below are some of the advantages of using the DOT crypto wallet from eToro:

  • User-Friendly
    It is very user-friendly, making it easy for both new and experienced users to manage their DOT holdings. The interface is simple and intuitive, with clear instructions on how to use the features.

  • Security
    It has top-level security features to keep your assets safe. It uses multi-signature technology to protect against unauthorized access, ensuring that only you can access your DOT holdings.

  • Convenience
    You can easily manage your DOT holdings without the need for third-party services or external wallets. This makes it a convenient option especially if you prefer to keep your holdings on the platform platform.

  • Integration with the Trading Platform
    The wallet service is fully integrated with eToro's trading platform, allowing you to easily move this cryptoasset between your trading account and the wallet. This means that you can quickly and easily manage your DOT holdings without having to leave eToro.

How to Create an DOT Wallet on eToro?

In order to creating an DOT wallet, you'll first need to have an active eToro account and already bought Polkadot via the online trading platform.

Next, you'll need to transfer the DOT that you bought from your eToro trading account to the eToro Money crypto wallet. This will automatically create your DOT wallet.

Once you have transferred the cryptoasset from the trading account and to your newly created DOT wallet, you can start sending or receiving DOT to or from other wallets.

Take note: While creating an DOT wallet is free, transferring the cryptoasset from the trading platform will incur a fee. In addition, you won't be able to buy DOT directly from crypto wallet or convert Polkadot into another cryptoasset like Bitcoin, Ethereum or Ripple.

Minimum Transferrable DOT Amount

When transferring Polkadot (DOT) from your online trading account to the eToro Money crypto wallet, the minimum transfer amount is 11 DOT. This means that you need to have at least 11 DOT in your investment account in order to transfer it to the wallet.

How to Transfer Polkadot from eToro Wallet to a Wallet?

If you have purchased DOT on eToro and would like to transfer it to a third party wallet, you can follow these steps:

  1. Obtain the Personal Wallet Address
    You will need to obtain the wallet address from the third party wallet service provider. This is a unique string of characters that identifies your wallet on the Polkadot blockchain. Make sure to verify the wallet address and ensure that it is correct.

  2. Log in to eToro and Navigate to the Portfolio Page
    Log in to your eToro account and navigate to the portfolio page. Find the Polkadot (DOT) investment you would like to transfer to your personal wallet and click on it.

  3. Click on "Send"
    Click on the "Send" button, which is located next to the Polkadot investment.

  4. Enter the Transfer Amount and Personal Wallet Address
    Enter the amount of DOT you would like to transfer to your personal wallet and the personal wallet address you obtained in step 2.

  5. Check and Confirm the Transfer
    Check the transfer details to ensure that the amount and wallet address are correct. Once you have verified the details, click on the "Send" button to confirm the transfer.

  6. Wait for the Transfer to be Completed
    The transfer from eToro to your personal Polkadot wallet may take several minutes to several hours to complete, depending on the current network congestion and other factors.

Interested now to trade Polkadot? Get started here.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

77% of retail investor accounts lose money when trading CFDs with this provider You should consider whether you can afford to take the high risk of losing your money.