Regardless of the crypto market’s state, adoption is the most significant factor that will impact its future. Due to the slow adoption, cryptocurrencies are typically viewed as investments rather than decentralized currencies, which was the original intention. However, platforms such as Polkadot are looking to change that.
What is Polkadot ($DOT)
Polkadot is a decentralized platform created in 2016/2017 by Ethereum co-founder Gavin Wood and aimed to connect users and give them control of transactions and messages without a third party. Later on, in 2020, the $DOT token was released with Polkadot’s initial block. The Polkadot protocol allows previously incompatible networks like Bitcoin and Ethereum to connect and transfer data and value. The protocol also has its own coin/token ($DOT), which acts as a currency and a governance tool over the Polkadot platform.
How Can I Use Polkadot ($DOT)
For those wondering how they can use Polkadot, there are various ways you can use the coin/token.
- Buy and sell on crypto exchanges.
- Shop with merchants that accept Polkadot.
- Buy and sell gift cards and prepaid debit cards.
- Send P2P $DOT payments through crypto wallets.
How can I buy and sell Polkadot?
Buying and selling Polkadot ($DOT) is very simple and can be done through various cryptocurrency exchanges.
- Find an exchange that has Polkadot ($DOT) listed. (Coinbase, Binance, Kraken)
- Sign up and add funds to your account.
- Now you can buy, sell, and send Polkadot ($DOT).
Where can I spend Polkadot?
Since Polkadot is still one of the newer coins/tokens not many retailers are directly accepting it. However, some companies still accept it and many more are planning to accept it in the near future.
Companies that accept Polkadot ($DOT)
- Piggy Cards
- Piggy Cards accept DOT for 400+ brands of gift cards with generous cashback.
- Travala
- Online travel Agency, flight and hotel search and reservation
- Newegg
- Newegg is one of the largest online retailers of computer hardware and consumer electronics. It is currently the only mainstream retailer to accept DOT. You can use DOT to purchase items from Newegg’s wide selection of products, including PC components, gaming peripherals, laptops, and smartphones.
- Alternative Airlines
- Online travel Agency, flight and hotel search and reservation
Buy gift cards and prepaid debit cards with Polkadot
Gift cards and prepaid debit cards are by far the best way to get the most use out of your Polkadot. They give users the ability to shop at their favorite retailers even if the retailers do not accept cryptocurrencies.
Here are some popular gift cards you can buy with Polkadot ($DOT):
- Amazon.com, Inc. is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence.
- Google Play, also known as the Google Play Store and formerly the Android Market, is a digital distribution service operated and developed by Google.
- Uber is a transportation company with an app that allows passengers to hail a ride and drivers to charge fares and get paid.
- Steam is a video game digital distribution service and storefront by Valve. It was launched as a software client in September 2003 as a way for Valve to provide automatic updates for their games and expanded to distributing and offering third-party game publishers’ titles in late 2005.
- Roblox is an online game platform and game creation system developed by Roblox Corporation that allows users to program games and play games created by other users.
- Target is an American big box department store chain headquartered in Minneapolis, Minnesota. It is the seventh-largest retailer in the United States.
- Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas.
- Airbnb, Inc., based in San Francisco, California, operates an online marketplace focused on short-term homestays and experiences. The company acts as a broker and charges a commission from each booking.