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How to buy Polkadot (DOT) cryptocurrency?

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Miguel A. Rodriguez
Miguel A. Rodriguez
16 February 2023
Buying Polkadot is an investment that comes with significant risk. While DOT trading experienced immense highs, it is also fallen to devastating lows. Here is how to buy Polkadot (DOT).

What is Polkadot

Polkadot is a software program that aims to encourage a global network of computers to run a blockchain from which users can launch their own blockchains. Polkadot was launched in 2020 and it offers a variety of innovative technical features. It aims to build an ecosystem of cryptocurrency. Other competing blockchains are Ethereum (ETH), Cosmos (ATOM), and EOSIO.

Unlike Bitcoin, Polkadot is called a multi-chain network because it can connect all networks.

Its ultimate goal is to serve as a framework for all blockchains, much like HTML allows websites, browsers, and servers to interact with one another. It is designed to simplify complicated and expensive cryptocurrency mining processes, including validation of transactions, and allow developers to concentrate on creating decentralized applications (DApp).

Polkadot operates on two types of blockchains. One is the main network called a relay chain, on which transactions are permanent. The other is a user-created network called parachains.

Parachains can be tailored for any purpose and fed into the main blockchain. This ensures that parachain transactions enjoy the same security as the main chain.

The Polkadot team believes that transactions can be kept safe and accurate by using the bare minimum of computing resources. At the same time, users have the advantage of being able to customize parachains to suit their needs.

This design, according to Polkadot, will allow its users to perform transactions more privately and efficiently. It will also create blockchains that don’t reveal user data to the public or process a larger number of transactions. Polkadot native cryptocurrency, DOT, lets holders vote on possible code changes and then upgrades across the network if there is consensus.

Polkadot raised approximately $200 million in two-round sales of its DOT cryptocurrency. This makes it one of the most successful blockchain projects, yet.

Privacy is important for individuals, and not only businesses. Big data mining companies like Facebook can make it easy for you to disclose your financial and spending data.

As crypto exchanges have become more accessible and the DOTUSD price has risen, more people have begun to invest in cryptocurrency. Polkadot trading is allowing a great transfer of wealth and even new investors can hope to profit from its fast growth and earn higher returns than they would on the stock market.  

With so much attention from the media and financial traders, new cryptocurrency investors are always looking for advantageous ways (platforms) to buy Polkadot (DOT) online. Luckily, there are numerous services and guides on how to buy Polkadot to help you get started in the cryptocurrency market. 

 

Where to Buy Polkadot (DOT coin)  

There are two ways cryptocurrency investors can choose when searching how to buy Polkadot (DOT) online: 

  • Cryptocurrency exchange
  • Online Brokers 

Crypto exchanges might be a good option for holding your funds, especially if you plan to withdraw them to a private wallet.

Online brokers are another great option where to buy Polkadot (DOT), which is increasing in popularity lately due to ease of trading, fast transaction, and greater control over the digital assets in your portfolio.  

When you use a broker platform, you gain access to a comprehensive feature set that will assist you in more precisely calculating your strategies and risks. As a result, you will be able to add more indicators to the chart and use the built-in technical analysis tools. However, unlike an exchange, the broker platform will not provide you with the same large offer of cryptos to trade.  

Additionally, global brokers like CAPEX also provide a few options to indirectly invest in Polkadot and other cryptocurrencies: cryptocurrency Exchange-Traded-Funds (ETFs) and companies connected to cryptocurrencies (crypto stocks). 

Such multi-asset platforms hand investors many useful financial instruments that can generate a passive income (interest with forex trading or dividend with stock trading). 

Buying Polkadot (DOT) over an exchange 

If you want to participate in a crypto project development and own the digital asset, you can buy Polkadot (DOT) online through a cryptocurrency exchange, such as Binance, Kraken, Bittrex, or Coinbase, and store it in a digital wallet.  

Having an account on a cryptocurrency exchange allows you to send and receive Polkadot (DOT). Transferring Polkadot is like the way traditional bank transfers work, except for the bank account address, which is replaced with a Polkadot address. Because digital currency is transmitted directly between individuals without needing third-party entities, such as banks, transaction fees are cheaper than those charged by traditional institutions. 

If you want to hold your crypto for a longer time, it is advised to transfer them from the crypto exchange to a secure cryptocurrency wallet. Wallets are much safer, and each private crypto wallet has a private key. It is critical to keep your private key safe because you won't be able to access your crypto without it, and if it's easily available, your funds could be stolen. 

Buying Polkadot (DOT) through an exchange is for those who want to use it for day trading or purchasing crypto to transfer to a wallet. When you’re buying Polkadot (DOT) through a cryptocurrency exchange, you own the digital asset, and you can transfer it to a crypto wallet or do whatever you wish with it. If the price of Polkadot rises, then the value of your portfolio goes up as well. But if the price of Polkadot (DOT) falls, then the value of your portfolio falls, while the amount of Polkadot (DOT) remains the same. 

Here are the main drawbacks when buying Polkadot (DOT) through a cryptocurrency exchange: 

  • Cryptocurrency exchanges may not be regulated in your country and offer little to no protection for investors.  
  • The matching engines and servers on Polkadot (DOT) exchanges are often unreliable, leading to the inability to access your account and control your funds. 
  • Cryptocurrency exchanges have many restrictions and limitations for their services, including transaction fees, withdrawal fees, and imposing minimum amounts for funding and withdrawing funds.  

The good news is that investors can limit the risks presented by the crypto exchange by trading Polkadot (DOT) with contracts for difference (CFDs). Polkadot (DOT) CFDs allow you to speculate on the price of the cryptocurrency without having to own the digital asset.

Read on if you want to learn to trade Polkadot with capex.com in the most convenient way. 

Buying Polkadot (DOT) with an Online Broker 

Trading Polkadot (DOT) with an online broker like CAPEX means that instead of owning Polkadot outright, you’ll be speculating on its price with CFDs.  

The main difference between buying Polkadot (DOT) from an exchange and buying Polkadot (DOT) from an online broker is that you don’t own Polkadot (DOT) when you use a broker. Owning crypto requires investors to have a crypto wallet, either within the exchange or a private wallet. But when you purchase Polkadot (DOT) CFDs using an online broker, the CFDs are stored in your account and are far more liquid, which makes trading CFDs more popular. Unlike cryptocurrency exchanges, online CFDs brokers are regulated by financial authorities.   

The Alternative Way to Invest in Polkadot (DOT)  

Trading CFDs is a process of buying or selling CFDs and can generate a profit if the value of the asset moves in the direction of the investor’s prediction, or a loss if the market goes against him. 

You can buy Polkadot CFDs (go long) if you believe the value of the digital asset will increase.  

At the same time, you can “go short” if you believe that the price of the underlying asset, in this case, Polkadot (DOT), will decrease, by selling CFDs. 

Trading CFDs provides leverage, and you can open your position by depositing only a margin.  

For example, if a trader wants to buy 100 Polkadot CFD at $36 would only require $1800 of trading capital. 

It’s important to remember that leverage can increase both your profits and your losses, and they will be based on the full exposure of the trade, not just the margin requirement needed to open it. Potential losses, as well as profits, could exceed your margin. 

Concisely, if you choose to trade crypto CFDs, you can profit from the difference between the buying and the selling position.  

With CAPEX, you can trade CFDs on futures or spot prices. Trading CFDs on futures gives you exposure to the futures market, but without requiring you to take on any obligations or worry about any of the other nuances that are associated with futures trading. 

Buy Polkadot DOT CFDs - Go Long

Instead of taking ownership of Polkadot, you can place a ‘long position’ translates to buying Polkadot CFDs. Your position, or Polkadot CFDs, will increase in value according to the increase in the price of the digital asset Polkadot’s price increases. If the price of Polkadot falls, then your position will lose value and can lead to loss. 

Let’s assume that Polkadot is trading at a sell/buy price of 36.00/36.30 USD. You want to buy 100 CFD (units) because you think the price of Polkadot will go up. Polkadot has a 1:2 leverage or a margin rate of 50%, which means that you must deposit only 50% of the position’s value as position margin. 

In this example, your CFD position margin will be $18,150 (50% x (1000 units x $36.30 buy price)). Losses greater than the margin can occur if the price of Polkadot moves against your position. 

Outcome A: a profitable trade 

If your prediction was correct, and the price of Polkadot surges over the next hours or days, then you have made a profitable trade. If the sell/buy price is 40.30/40.60 USD when you decide to close your position by selling at 40.60 (the new sell price), then your profit will be $4,000. 

The price has moved $4 (40.30 - 36.30) in your favor. Multiply this by the size of your position (100 units) to calculate your gross profit which is $4,000. 

If the position was closed during the day, there will not be any swap charges and the net profit is $4,000. 

If the position was closed after a few days, there will be swap charges according to the overnight rollover specification, in this case, -0.0563%. 

Let us assume the position was closed the next day, the overnight swap calculation formula will be: 

  • Overnight swap = 1,000 (units) x $38.50 (price at rollover) x 0.0563% x 1 (days) = $21.67 

Therefore, your total profit on Polkadot CFD is your gross profit plus the rollover cost. 

  • $4,000 - $21.67 = $3,978.33 net profit 

Outcome B: a losing trade

If your prediction for the price of Polkadot was wrong, the Polkadot CFD trade will result in a loss. Let’s assume that the price of Polkadot drops over the next hour to a sell/buy price of $37.30/37.60. Because you want to limit the loss in the eventuality that the price continues to drop, you can sell at $37.30 (the new sell price) to close the position. 

The price has moved $1 (37.30-36.30) against you. Multiply this by the size of your position (1000 units) to calculate your loss, which is $1,000. 

Sell Polkadot DOT CFDs - Go Short

In this CFD example, Polkadot is trading at a sell/buy price of 36.00/36.30 USD. Assume you want to sell 500 CFDs (units) because you think the price will go down. Polkadot has a 1:2 leverage or a margin rate of 50%, which means that you only must deposit 50% of the position’s value as position margin. 

In this example, your CFD position margin will be $9,000 (50% x (500 units x 36.00 sell price)). Remember that if the price moves against you, it is possible to lose more than your initial position margin of $9,000. 

Outcome A: a profitable trade 

Your prediction was correct, and the price falls over the next 2 days to a sell/buy price of 32.70/33.00 USD. You decide to close your trade by buying back at $33.00 (the new buy price). 

The price has moved $3 (36.00-33.00) in your favor. Multiply this by the size of your position (500 units) to calculate your profit, which is $1,500 gross. 

Let us assume the position was closed after 2 days, the overnight swap calculation formula will be: 

  • Overnight swap500 (units) x 34.60 (average price at rollover) x 0.0118% x 2 (days) = $4.08 

Therefore, your total profit on Polkadot CFD is your gross profit plus the rollover cost. 

  • $1,500 + $4.08 = €1,504.08 net profit 

Outcome B: a losing trade 

Unfortunately, your prediction was wrong, and the price of Polkadot DOT rises over the next hour to a sell/buy price of $37.00/37.30. You feel the price is likely to continue up, so to limit your potential loss you decide to buy at $37.30 (the new buy price) to close the position. 

The price has moved $1.3 (37.30-36.00) against you. Multiply this by the size of your position (500 units) to calculate your loss, which is $650 

If you are not ready to trade CFDs at spot or futures prices yet, we have also got educational resources like CAPEX Academy with free courses on how to trade. Plus, we offer a demo account – giving you $50,000 in virtual funds to build your confidence in a risk-free environment. 

Investing in Polkadot without actually buying Polkadot  

While buying and day trading cryptocurrency is a major trend right now, it is important to remember that cryptocurrencies are a volatile and risky investment choice. If investing in crypto on an exchange or via a broker does not feel like the right choice for you, here are a few options to indirectly invest in Polkadot and other cryptocurrencies: 

Exchange-Traded Funds - Crypto ETFs 

Exchange-traded funds (ETFs) are popular investment tools that allow investors to buy exposure to hundreds of individual investments in bulk. That is why ETFs are a means of diversification for your portfolio and as less risky than investing in individual investments.  

crypto ETF allows investors to trade cryptocurrency on a traditional market and eliminates the need to trade the asset on a crypto exchange. Another advantage of trading crypto ETFs is that investors do not have to worry about the security aspects of trading crypto.  

US investors can enter the crypto market by using ProShares Bitcoin Strategy ETF (BITO). The Fund provides capital appreciation through managed exposure to bitcoin futures contracts. 

A Polkadot ETF could come in 2022. The approval of a Bitcoin ETF means a similar offering for Polkadot is imminent.  

>> Learn what is an ETF and how does it work 

Companies Connected to Polkadot and Cryptocurrency - Polkadot Stocks

Another option is to invest in cryptocurrency indirectly by investing and buying shares of companies that offer real-life products and services but still use or own cryptocurrencies as part of their business model (known as Polkadot stocks). With an all-in-one trading account with CAPEX, you can also trade shares CFD of public companies like:  

  • Goldman Sachs (GS). This leading global investment banking, securities and investment management firm listing includes Coin Metrics, a provider of blockchain data to institutional clients. Learn how to buy Goldman Sachs shares
  • Coinbase (COIN). Coinbase is a cryptocurrency exchange that allows consumers, financial institutions, and businesses to transact between fiat and cryptocurrencies and securely store and use cryptocurrencies. Learn how to buy Coinbase shares
  • Microsoft (MSFT) is offering Ethereum Blockchain as a Service (EBaaS) on the Microsoft Azure cloud. It is intended to offer Enterprise clients and developers a single click cloud-based blockchain developer environment. Learn how to buy Microsoft shares
  • Barclays (BARC). The British multinational's list of investments includes RealBlocks, a tech platform that connects advisors and investors to alternative investment managers. Learn how to buy Barclays shares
  • CME Group (CME). CME is a financial derivatives exchange that offers trades in cryptocurrencies as well. In Q3 2021, the company reported a 14% year-over-year increase in its average daily volume (ADV) at 17.8 million contracts. Learn how to buy CME shares

>> Learn more about stock investing 

How to buy Polkadot (DOT) 

Are you wondering how to buy Polkadot with CFDs? CAPEX offers DOT trading via CFDs on Polkadot USD spot prices to speculate on the value of DOT against the most popular currency, as well as the brand-new PRO Shares Bitcoin Strategy ETF. Here are the steps: 

Step 1: Create an account and deposit funds 

When you trade on cryptocurrencies, instead of purchasing Polkadot and other popular digital currencies, you can be ready to open a position much faster. You do not need a digital wallet or an account with an exchange. In fact, all you need to trade via CFDs is an account with a leveraged trading provider. 

With CAPEX, you can open an account in minutes, and there is no obligation to add funds until you want to place a trade.  

Ripple account capex
How to create an account with CAPEX

 When you create a trading account with CAPEX, you will be able to: 

  • ‘Buy’ (go long) or ‘sell’ (go short) Polkadot and other popular cryptocurrencies to speculate on their price rising or falling
  • Take a position on our range of ETFs to get exposure to a basket of shares from an entire country, index, or sector that could be rising or falling in price.
  • Trade a host of global indices to go long or short on the performance of an entire economy with a single trade.
  • Use QuantX, the smart portfolio builder that helps you cover the popular industries and only invest in the top-performing stocks. 

Step 2: Choose your Crypto trading platform 

Our trading platforms can provide you with a smarter and faster way to trade Polkadot CFDs – with personalized alerts, interactive charts, trading signals, and built-in risk management tools. You can trade via the CAPEX trading platform using: 

CAPEX Web Trader 

Trade on one of the most complete, fully customizable trading platforms on the market. 
 
Available on desktop (Windows, Mac) and mobile (Android, iOS), it provides intuitive, web-based access to a vast range of tradable instruments, charting tools, analytical tools, and many more features. 

To view Polkadot's real-time price and chart on the trading platform can click on the "Search" icon located in the left panel or by clicking on "Cryptocurrency" and then select the instrument, in this case, Polkadot (DOT). 

Polkadot trading app
WebTrader CAPEX

MetaTrader 5 

MetaTrader 5, one of the best crypto trading apps, is providing superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robotsExpert Advisor), and copy trading. 

MetaTrader 5 is available on both desktop and mobile.  

Step 3: Pick up a Polkadot trading strategy 

Learning how to buy Polkadot is easy but adopting the right Polkadot trading strategy is essential to time the market. 

The main Polkadot trading strategies are: 

Buy-and-Hold

Buy and hold, also called position trading, is an investment strategy whereby an investor buys Polkadot to hold them long term, with the goal of realizing price appreciation, despite volatility.  

Trend trading

Traders take a position according to the main trend (months to years). You can “go long” if Polkadot is in a bullish trend or “go short” if the Polkadot trend is bearish. If the major trend starts to slow or reverse, you will think about closing your position and opening a new one to match the emerging Polkadot trend. 

Day trading

All trades are performed during the day. There are no open positions overnight, though no rollover charges. Traders are looking to profit from Polkadot’s short-term price movements (including scalping), and it can enable them to make the most of daily volatility in bitcoin’s price. 

Hedging

When you hedge Polkadot, it means that you use CFDs to counteract the Polkadot price movement you already own. For example, if you owned some Polkadot but were concerned about a short-term drop in their value, you could open a short position on Polkadot with CFDs. If the Polkadot price falls, the gains on your short position would offset some or all the losses on the coins you own.  

Following the chart patterns and general trends can give you a hint to where Polkadot is going.  

Step 4: Set your Polkadot orders 

 A trade order is an agreement to buy or sell a specific asset like Polkadot at a specific price or price range. 

To buy Polkadot CFD with CAPEX, click on the "Buy" button and a window is displayed to configure the purchase order. You can choose among Market, Limit, and Stop orders. 

Additionally, you can pre-define Stop Loss and Take profit orders, which are crucial risk management tools – that help you minimize the potential loss and maximize the potential gains. 

Polkadot buy order capex
Polkadot buy orders

How to buy Polkadot with Market Orders 

The simplest type of trade order is a market order. Market orders are usually placed by traders if they want to be certain trade is executed. A market order is instant. Therefore, it is simply an order placed by a trader to buy or sell Polkadot immediately at whatever its current price is.  

I want to buy 200 Polkadot (DOT) right now or as quickly as possible. 

How to buy Polkadot with Limit Orders 

While a market order is simply an order placed by traders to buy or sell an asset immediately at whatever the current price, a limit order in its most basic sense, is an order to buy or sell an asset at a specific price. Buy limit orders are placed above key support levels with the purpose of limiting price risks anticipating the uptrend will resume after a correction (buy the dip).  

The price for DOT/USD is currently at USD 36.00 and you place a buy limit order at USD 31.00, then your order is meant to execute at the price of USD 31.00 as soon as there is a matching sell order at this price or better. 

How to buy Polkadot with Stop Orders 

A stop order is an order that becomes a market order only once a specified price is reached. It can be used to enter a new position or to exit an existing one. Limit orders are placed above key resistance levels anticipating a breakout after a consolidation. 

The price for DOT/USD is currently at USD 36.00 and you place a buy stop order at USD 37.50, then your order is meant to become market at the price of USD 37.50 as soon as the price is reached. 

Step 5: Monitor and close your Polkadot position 

To open a Polkadot trade, you’d buy if you thought that the price was going to rise or sell if you thought the price was going to fall. Once your trade is open, you’ll need to monitor the market to make sure that it’s moving in the way you anticipated. 

The technical indicators available on our trading platform can help you to determine what Polkadot’s price might do next. Indicators can also help you monitor current market conditions like volatility levels or market sentiment. 

Litecoin indicators
Add Technical Indicators

 

CAPEX WebTrader can deliver an in-depth analysis of the charts and offers over 90 indicators (including moving averageMACDRSI, and Bollinger Bands). The WebTrader platform also supports an interactive trading activity with high-end research tools helping you interpret market data.  

Take Profit & Stop Loss

Traders can close a position immediately to take a profit or to cut a loss. You can use market order or set Stop Loss and Take Profit levels when you set the order to buy Polkadot 

The platform offers the stop-loss option, which lets you clearly state how much you're willing to risk with your trade. Similarly, the take profit is the exact opposite. It tells your broker how much you expect to make as a profit and when you want to close your position. 

Any profits you make will be paid directly into your trading account. Losses are deducted from your account balance. 

When to buy Polkadot (DOTUSD)

Investors should be aware of the fundamental and technical analysis when deciding when to buy Polkadot. The fundamental analysis considers the news and events about the coins, exchanges, and other crypto businesses. The technical analysis uses the price value history to map the evolution of the supply and demand for Polkadot. 

Polkadot Price Prediction using Fundamentals 

When using the fundamental analysis approach, investors should be aware of the government regulation, latest cryptocurrency updates, and technical issues, as well as cryptocurrency exchanges that affect the supply and demand for cryptocurrencies.  

For instance, when Bitcoin CME was introduced into the government regulations, and it drove the price of Bitcoin to almost $20,000 in December 2017. 

An accurate Polkadot price forecast using fundamental analysis considers the three main aspects: 

  • Blockchain metrics (hash rate, active addresses, transactions fees, and values)  
  • Financial (market capitalization, liquidity, trading volume, circulating supply) 
  • Project overview (team’s background, whitepaper, competitors, roadmap, tokenomics) 

What is the future of Polkadot? 

Polkadot, a highly ambitious project that aims to transform the structure of the global internet, is very ambitious. Experts consider it a revolutionary solution that could revolutionize the blockchain industry. The project also has many advantages that make it attractive to investors.

However, there are some drawbacks to the project. The project's complexity can pose a problem for developers looking to connect to their blockchains with the project.

The latest Polkadot news is that founders Gavin Wood & Robert Habermeier announced that the network is now ready to support its first Parachains. This final phase of its multi-phased process, which began on 26 May with the launch of the initial proof of authority version of the Polkadot Relay Chain. On 11 November, the first parachain auction took place. The Polkadot on-chain governance approved the first series of auctions that will be held every week until March 2022.

The DOT token was listed on major cryptocurrency exchanges in August 2020. Soon after, the price began to rise. It reached a high of $6.862 on 1 September 2020. The price dropped quickly, reaching a low of $3.532 in September. The price began to fluctuate between $3.60-6.10. This trend continued through the end of the year. The price finally broke the $6.10 resistance on 28 December and reached $9.51 the next day.

Because is difficult to analyze the intrinsic value of a cryptocurrency, it is recommended you perform a technical analysis before investing in Polkadot CFDs. It might offer some insight into the past movements of Polkadot, helping you predict where it will head in the future. 

Polkadot price prediction using technical analysis 

Some believe the high concentration of retail traders makes cryptos truer to traditional chart patterns and indications of oversold, overbought conditions, etc. 

Technical analysis techniques can be applied to any market where the price can freely fluctuate, and data is available to see those fluctuations. The CAPEX Web Trader has a full suite of all the best-known technical indicators and chart drawing tools. 

Polkadot Forecast 2022  

Polkadot future price forecast
Polkadot Price Chart Analysis

Price action indicates that DOT appears to be in a downtrend movement. DOT price violated the key support level 38.50-39.00 (trendline and the previous high), which signals the bearish momentum is more likely to continue. 

The 2022 Polkadot price prediction is the $27 level (50% Fibonacci retracement) on the bearish side and $73-75 level (161.8% extension of the previous leg up).

However, bulls may feel more confident to apply liquidity above the $40 level if the DOT price can recover the trendline.

TradingBeast predicts that Polkadot will be ranging between the $27 and the $36 levels. They don't believe that DOT's prices will drop further in 2022, so they aren't optimistic about their prediction.

WalletInvestor disagrees and believes that Polkadot's price will not fall. Their analysis shows that the price of Polkadot will remain stable at $34.58 by the end of 2021, $74.90 by 2022, and $194.73 after 2025.

LongForecast's DOT price forecast is also bearish. They predict that Polkadot will see a drop in price by November 2021, before it begins rising. LongForecast's calculations show that the price of Polkadot will drop to $19.03 by the end of 2022. Long-term forecasts indicate that prices will stagnate at $18.50.

What Moves Polkadot Price

The most important aspects that can influence the Polkadot price are:

  • Total supply 
  • Utility 
  • News
  • Rules and regulations

Polkadot’s price corresponds to the current supply and demand in the crypto space. Considering Polkadot does not have a maximum supply, and that there is 1 billion DOT in issuance, this is a digital asset that may increase in value when more users join the networks. 

An important aspect of what moves the price of Polkadot is the news.  

For instance, the anticipation of the upgrade that will allow for a parachain auction on Polkadot's blockchain fueled a price rally. On November 4, 2021, DOT, the native currency of the Polkadot ecosystem reached an all-time record, with an 8% increase in 24 hours, peaking at $54.86. Parachain upgrades will enable developers to gain their own slots and create their own use cases within the Polkadot network. This news about the project’s development has made Polkadot (DOT) rise to an all-time high.

In conclusion, should you Buy Polkadot or not? 

As with any investment, make sure you carefully assess your financial situation before investing in cryptocurrency, Polkadot, and the stock market. Polkadot can be extremely volatile—a single tweet can make its price plummet—as cryptocurrencies are still a highly speculative investment. Follow the already famous crypto investment phrase — "invest only what you can afford to lose". 

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Miguel A. Rodriguez
Miguel A. Rodriguez
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Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.