Polkadot (DOT) is a blockchain platform designed to connect multiple blockchains into a single, unified network.
It was founded by Dr. Gavin Wood, co-founder of Ethereum and creator of Solidity, Ethereum's smart contract programming language. Polkadot was developed to address Ethereum’s scalability and interoperability challenges. In 2016, Dr. Wood released the Polkadot whitepaper, which led to the establishment of the Web3 Foundation in 2017 to support its development. The network’s core component, the Relay Chain, launched in May 2020, with parachains gradually introduced over time.
Polkadot operates as a Layer 0 protocol, with the Relay Chain serving as its primary network. This central chain connects multiple parallel blockchains, known as parachains, allowing them to process transactions simultaneously. This architecture significantly improves scalability compared to traditional single-chain networks.
Polkadot has gained momentum across industries, powering a growing ecosystem of decentralized applications, infrastructure projects, and blockchain innovations.
Polkadot (DOT) is a blockchain platform designed to enable interoperability between multiple blockchains. It operates on a unique multi-chain network, allowing different blockchains to communicate and share data securely. DOT is primarily used for governance, staking, and bonding new parachains within the Polkadot ecosystem.
When did Polkadot (DOT) reach its all-time high?
Polkadot (DOT) reached its all-time high of $54.98 on November 4, 2021.
How to buy Polkadot (DOT) with a card?
You can buy Polkadot directly with a credit or debit card, including cards connected to your Apple Pay or Google Pay.
To learn more about how to buy Polkadot via card, visit our dedicated Help Center article.
How to buy Polkadot (DOT) with a bank transfer?
You can send funds from your local bank to your Nexo account via a bank transfer. EUR and GBP transfers arrive quickly, while USD wires generally take up to 2 business days to be reflected in your account. When your funds are available, navigate to the Exchange tab in the Nexo app and trade them for your desired amount of DOT.
To learn more about how to buy Polkadot via a bank transfer, visit our dedicated Help Center article.
What tools can help me with my crypto tax reporting?
We've partnered with Koinly, a leading crypto tax software provider, to help our clients easily track and report their Polkadot (DOT) and other crypto transactions. Through our platform's integration with Koinly, you can seamlessly import your DOT trading history and generate tax reports that align with your local tax requirements.
Check out our guide on how to create a tax report via Koinly.
How does Nexo take care of my Polkadot (DOT)?
We partner with multiple custodians, such as Ledger Vault, Fireblocks, and others, to enhance the security and diversification of our custodial infrastructure. In addition, we offer:
Strong 256-bit encryption and fraud monitoring mechanisms to keep your funds secure.
ISO/IEC 27001:2013 accredited information management systems.