Polkadot DOT

On 2024-11-20 the current Polkadot price/exchange rate is 5.434 EUR.

Polkadot is a new generation open-source blockchain protocol (multichain) that combines multiple blockchain networks into a single network.

Combining multiple blockchain networks within one unique network aims to establish a fully decentralized and user-controlled private web, and provide an easy way to create new applications and services.

The idea behind Polkadot is to create a basic structure that should enable a large number of blockchains and other chains to securely exchange information or transactions with each other.

The Polkadot protocol consists of 4 main components:

The Polkadot network has its own DOT token.

At the time of writing this text, there are around 1,2 billion Polkadot tokens (DOT) in circulation. 

The maximum number of DOT tokens that can be in circulation is not defined.

The smallest unit in the Polkadot system is Planck and its value is equivalent to 0.0000000001 DOT.

Polkadot is the “Multichain” network which means that it unites several blockchain networks. 

Because it combines multiple blockchains it can process multiple transactions simultaneously (via multiple parallel chains or “parachains”).

The Polkadot blockchain network is flexible which enables the faster exchange of information between users and better functionality. 

Networks and applications on Polkadot can share information and functions without having to rely on centralized service providers. 

Polkadot can be automatically upgraded. It can easily implement new features or remove bugs.

The network is very sophisticated and fully customized for the end-user. 

This means that users can easily customize and use the network depending on their needs.

A Polkadot token (DOT) cannot be mined since it uses the Proof-of-Stake (PoS) protocol. 

If you want to "earn" a DOT token, you must already have a certain amount of DOT tokens. 

Once you have your own DOT you will have the opportunity to participate in using, managing the network, and, maintaining its security for which you receive a certain reward in the form of a DOT token.

The reason for this approach is Polkadot's highly sophisticated management system in which all DOT holders have the "right to vote".

Polkadot uses the Nominal Proof-of-Stake (NPoS) mechanism to select validators and maximize chain security.

This unique validation method allows all blockchains to securely interact with each other under the same rules, while network independence remains intact.

The Web3 Foundation launched Polkadot as a functional secure and fully decentralized website.

It is a Swiss foundation founded by Dr. Gavin Wood, Robert Habermeier, and, Peter Czaban. 

Gavin Wood is also known as one of the co-founders of Ethereum and as one of the creators of the Solidity programming language for "smart contracts".

On the Bitcoin Store platform, you can easily buy Polkadot and more than 170 cryptocurrencies at the real-time exchange rate with the lowest fees.

First, you need to create and verify your account on the Bitcoin Store cryptocurrency trading platform to get full access.

After successful verification, you can deposit (EUR) to your Bitcoin Store Wallet.

Supported payment methods for deposit are:

Once we receive your payment, funds to purchase cryptocurrencies will be available on your Bitcoin Store Wallet, and you can start purchasing cryptocurrencies.

On the Bitcoin Store platform, you can easily sell more than 170 cryptocurrencies from our offer at the current exchange rate.

You can instantly sell cryptocurrencies that are stored on your Bitcoin Store Wallet.

Cryptocurrency stored on personal wallets such as Exodus, Trust Wallet, Ledger, Treasury, etc., or various trading platforms and must be transferred to your Bitcoin Store Wallet before selling.

Once the transfer is successful, you can sell your cryptocurrency. 

You can withdraw the funds directly to your bank account or keep them on your Bitcoin Store Wallet and use them for future cryptocurrency purchases.

You can buy and sell cryptocurrencies for cash in Bitcoin Store exchange offices in Zagreb, Rijeka, Osijek, and Split.

Verifying your identity via ID card is not required for all transactions up to 1000,00 EUR.

You can deposit cash directly to your Bitcoin Store account in the exchange office. 

The deposit amount will be visible immediately and ready for your next cryptocurrency purchase.

You can store Polkadot in your digital wallet. 

When it comes to cryptocurrencies, digital wallets can be divided into 2 groups - Hot Wallets and Cold Wallets.

Hot wallets include:

Cold Wallets include:

You can also store DOT on your own Bitcoin Store Wallet. 

The access and storage of cryptocurrency are free for all users who register on the Bitcoin Store Platform.

On Bitcoin Store Wallet you can: