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Buy Polkadot in India-Step by Step Guide for Beginners

Buy Polkadot in India

Polkadot in India holders possess complete access over the Polkadot protocol. There are honest ways in Game theory incentivizes token holders. As it provides a considerable balance of security and convenience, Polkadot.js plugin is used as a “virtual vault,” that separates from your browser, to store your private keys. It also allows signing of transactions and similar functionality.

Connecting and starting to Buy Polkadot in India gives you the ability to interoperate with a numerous variety of blockchains in the Polkadot network which also ensures Economic & transactional scalability. Polkadot in India is currently on the track to unlock the most robust platforms for security, scalability and innovation.

What is Polkadot?

Polkadot enables cross-blockchain transactions of any type of data or asset, not just the tokens. Polkadot is said to be a network protocol which allows not only the tokens but also the arbitrary data to get transferred across any blockchains.

This makes it possible to build applications which acquire permissioned data from a private blockchain and using it on a public blockchain. Polkadot’s blockchain network has additional bonus of able to move assets between chains without interruption.

The DOT token serves for three distinct purposes such as governance over the network, staking and bonding. Governance enables Polkadot token holders to have complete control and access over the protocol.

All privileges and rights, which on other platforms are exclusive to miners, will be given to the Relay Chain participants (DOT holders), including managing exceptional events such as protocol upgrades and fixes.

In staking, Game theory incentivizes are used for token holders to behave in honest ways. Outdated or non-useful parachains are removed by removing bonded tokens. This is a form of proof of stake in bonding.

History of Polkadot

The Polkadot project began in the year 2016 and its mainnet went on live on May 2020. Polkadot also raised $43.3 million in a private token sale recently. In 2017,this project raised $145 million where last year it was sold for more than 500,000 DOT tokens.

Almost every blockchain platform, especially Bitcoin, suffers from scalability issues that in turn result in the increment of its transaction fees and throughput time of the platform. The governance of these platforms also poses an issue which is a hurdle.

There is widespread doubt for the traders whether such platforms will be able to conduct decision-making processes while ensuring transparency in the process. The Polkadot aims to address and clear these issues and many more with its innovative framework and design.

What is Polkadot Mining?

Polkadot operates completely on Proof of Stake (POS) system where mining is not supported as a procedure to earn DOT coins from the platform. Instead, the system provides traders the option of staking their coins on master nodes as collateral in order to verify and anonymize transactions and also to vote on community proposals.

The probability works where the user with the highest stake has the highest priority to earn rewards from the network only in the form of DOT coins, although all users eventually earn some rewards from the system.

The process of staking leads to the release of new blocks in the blockchain where expected returns from the blockchain can be calculated using a Return Calculator that is available on the internet.

What is Polkadot halving?

As Polkadot (DOT) becomes the Tenth-Largest Crypto currency in the Market Cap Leading the Altcoins where Bitcoin transaction fees continue to soar after halving. Every four years this number is cut in half where the day this number halves is called Halving.

New Dot tokens are issued by the Polkadot network every 10 minutes. For the beginning of Polkadot’s existence the amount of new dot tokens were issued every 10 minutes was calculated.

Polkadot Price in India and Trade analysis

The Price of Polkadot in India is 21,717.17 INR as of September 4, 2020.

During its initial days, the price of DOT token in USD was at an impressive $174.39 USD per token. By the end of the year, the DOT token saw a significant amount of fluctuation in its valuation.

By January 2020, the price of DOT token in USD dropped a little to $140.73 USD while the price of DOT token in BTC shot up to 0.01919 BTC per token. The token saw a gradual increase and in its valuation.

As the valuation of the Polkadot cryptocurrency is breaking records it is a good option to make Investment in Polkadot and the price of DOT token in USD was at $294.94  The current price of DOT token in USD and BTC stands at $296.73 USD per token and 0.025227 BTC per token respectively.

Why to buy Polkadot in India?

Polkadot could easily be gathered and organized with other blockchains to solve all the problems faced. Polkadot aims to solve the problem of blockchain’s interoperability, forking problem as well as governance problem and a bunch of other commonly raised issues.

Investment in Polkadot receives a green signal because of its easy and user-friendly Blockchain innovation as it creates a custom blockchain in minutes using the Substrate framework which is the main reason of Polkadot’s network worth.

Chains remain independent in their governance, but united in their security which guarantees security for everyone. As, Polkadot can upgrade without hard forks to integrate new features or fix bugs it enables Polkadot to easily adapt to changes and upgrade itself as better technologies become available.

How to buy Polkadot in India?

Investment in Polkadot is globally increasing because of its versatile benefits. Buy Polkadot in India (DOT) is made more easy through BuyUcoin as it accepts INR easily using credit/debit card, UPI, MobiKwik wallet and more in less than 10 minutes.

Step 1: Signup instantly with your google account by accepting the terms and conditions.

Step 2: Enter the referral code if any and also set a new password.

Step 3: Add your bank details and also verify KYC

Step 4: In OTC desk click on Direct Buy

Step 5: Buy any DOT Token using INR

Where to buy Polkadot in India from?

Are you in India wondering where to deposit your INR to start Investment in Polkadot? Buyucoin is the wisest choice as it has no exchange or transaction fee to incur as like the rest of crypto exchangers and you can easily buy polkadon in India. Easily check polkadot price in India through buyucoin live price history.

BuyUcoin also accepts direct UPI from virtual accounts with zero trading where  you can buy Polkadot in India directly using INR in a fraction of seconds. You can trade up to 10,000 INR value of cryptocurrency without any prior registration and KYC using BuyUcoin EZ Platform.

How to sell Polkadot in India?

Step 1: Go to the OTC desk

Step 2: As of September 4, 2020 spending 398.9391 INR will give you one DOT.

Step 3: Enter the choice of your amount to get the DOT tokens from INR.

Step 4: Click the button Sell Polkadot.

Where to sell Polkadot in India?

BuyUcoin has recently launched a new option called EZ where there is a limited Time Offer of 0% Trading Fees for Direct Crypto Buy/Sell Options for 40+ cryto currencies including Polkadot.

Just one-click can get you, your desired crypto token to buy & sell increasing the interactivity where Hassle free crypto trading is also ensured. So, BuyUcoin is the best place to sell Polkadot.

Read also Buy EOS in India- step by step guide for beginners

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