How to Buy Polkadot (DOT) in Australia

Summary: The fastest and most secure way to buy Polkadot in Australia is by going through Australia's largest crypto exchange, CoinSpot. CoinSpot has over 2.5 million Australian investors which is more than 10% of the Australian population. It offers high security, low fees and high staking yields.

Best Crypto Exchange to buy Polkadot

CoinSpot is the best cryptocurrency exchange to buy Polkadot on in Australia. The platform offers the highest Polkadot staking APY (Annual Percentage Yields) out of any Australian exchange. CoinSpot offers a competitive 12.5% yield for Polkadot staking and offers the ability to auto-stake meaning you can compound your DOT without needing to check on it.

In addition to the staking, CoinSpot is the only high-security exchange in Australia and has been awarded the ISO27001 Standard Security Certificate proving its impenetrable security measures. It is the only platform in Australia where your Polkadot tokens are 100% secure from cyber attacks and hacking incidents.

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How to buy Polkadot Crypto in 4 steps

The best way to buy the Polkadot (DOT) cryptocurrency in Australia is through CoinSpot. On CoinSpot you can buy Polkadot through various methods like Bank Transfer (Osko), PayID, POLi, BPAY and Cash. In this method, we show Aussies how to buy Polkadot via Bank Transfer (Osko). Follow the below steps to get started.

Sign up to CoinSpot and complete the onboarding process.
Select 'Deposit Funds' and choose Direct Deposit.
Deposit funds to CoinSpot from your banking app.
Search for Polkadot in 'Buy/Sell', enter the amount and press 'Buy'.

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Is it expensive to buy Polkadot (DOT) in Australia?

This will depend on what platform you buy Polkadot on. For example it will cost more to buy DOT on a DEX (decentralised exchange) opposed to a CEX (centralised exchange) because you will need to pay additional gas (network transaction) fees. DEXs are on-chain so every transaction incurs a fee but CEXs operate off-chain so the only fees you need to pay are to the exchange (if they have any).

On CoinSpot it is completely free to deposit AUD when you use PayID, POLi and Bank Transfer (Osko) but there is a 0.9% fee to deposit via BPAY and a 2.5% fee to deposit via cash. To buy cryptocurrencies on CoinSpot it is 0.1% when you use the Market buy features and 1% when you use the Instant buy feature.