Polkadot is the leading layer-0 network – that is, a blockchain whose primary purpose is to facilitate transactions between different blockchains.
Polkadot does this by allowing the creation of secure “parachains” that allow you to conduct transactions between blockchains (i.e. Ethereum and Solana). Users use DOT, the native token of Polkadot, to reserve private space on these parachains. When the transactions are completed, the parachain automatically finalises them on their native blockchains.
DOT is also used as a governance token, giving users the ability to vote on changes to the protocol and is distributed to those who stake their tokens to secure the network.
CoinJar is the longest-running crypto exchange in Australia and has been designed from the ground up with security and ease-of-use in mind. From the quick and intuitive sign-up process, to our lightning fast bank deposits and withdrawals, low fees starting at 0% (on CoinJar Exchange),and user-friendly iOS and Android app, CoinJar is the ideal crypto exchange whether you’re buying DOT for the first time or an experienced investor.
You can store your Polkadot in a hardware wallet or on a trusted exchange. Hardware wallets (such as the Ledger) offer high level security, allowing you to store your crypto offline in a unit that only you have the password for. However, exchanges such as CoinJar also provide excellent security, keeping more than 90% of our crypto in cold storage or private, multi-sig wallets and offering our users next-gen 2FA account protection as default.
Polkadot was created by Gavin Wood (a co-founder of Ethereum), Robert Habermeier and Peter Czaban.
The best way to buy Polkadot in Australia is through a trusted exchange like CoinJar. We offer accurate prices, low fees and an easy-to-use, ultra-secure app.
The safest way to Buy Polkadot is through a trusted exchange with a proven track record. CoinJar is Australia’s longest-running crypto exchange and has been operating since 2013 with no unplanned downtime, security breaches or loss of customer funds. We are registered with AUSTRAC and the FCA UK (for AML purposes) and work with some of the world’s largest payment providers, including Mastercard, Visa, Apple Pay and Google Pay.
Yes – with CoinJar Instant Buy you can buy Polkadot with any AU-issued Visa or Mastercard. We also offer support for Apple Pay and Google Pay.
The price of DOT in AUD is determined by the international Polkadot market – basically, the price to be found on cryptocurrency exchanges in Australia and all around the world. These prices tend to be the same (or very close) because any differences are smoothed out by arbitrage traders that buy at one exchange and sell at another.
Unlike Bitcoin, Polkadot does not have a maximum supply. New DOT tokens are issued to people who stake their DOT to help secure the network at a rate of 10% per year. This means Polkadot is an inflationary currency. There are currently around 1.2 billion DOT tokens in existence.
CoinJar’s digital currency exchange services are operated by CoinJar Australia Pty Ltd ACN 648 570 807, a registered digital currency exchange provider with AUSTRAC.
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