1. Trade DOT directly with Singapore Dollars (SGD) 🇸🇬
The NEW DOT/SGD trading pair prices DOT against the Singapore Dollar (SGD), and our users will be able to buy & sell DOT when they fund their accounts with SGD through direct bank transfers.
2. Trade DOT directly with Vietnamese Dong Trading (VNDT) 🇻🇳
The NEW DOT/VNDT trading pair on Coinhako prices DOT against the Vietnamese Dong (VND), and our Vietnam users will be able to buy & sell DOT when they fund their accounts with VND through direct bank transfers.
3. Trade DOT directly with US Dollars (USD) 🇺🇸
The NEW DOT/USD trading pair prices DOT against the United States Dollar (USD), and our users will be able to buy & sell DOT when they fund their accounts with USD with a Stablecoin deposit.
4. DOT Swaps (Crypto-to-crypto trading)
Coinhako users will also be able to trade DOT with other cryptocurrencies that are supported in their countries, with our ‘Swap’ function.
5. DOT wallet for all
With the DOT wallet feature, Coinhako users can securely send (withdraw), receive (deposit), and store DOT.
What is DOT?
Founded by the Web3 foundation, including one of the key Ethereum founding members, Dr Gavin Wood, Polkadot ($DOT) is a next-generation blockchain which mission is to enable a completely decentralized web where users are in control.
How does the Polkadot protocol work?
The Polkadot blockchain protocol connects multiple blockchains into one network by allowing arbitrary data to be sent across different blockchains. This allows the seamless transmission of all forms of data across both public and private networks.
Polkadot also offers a secure way to communicate with the Polkadot Relay Chain, which allows transactions from all chains to be in the network at the same time.
The native token of the Polkadot network, DOT, fulfills 3 primary functions: governance, staking, and bonding. While other blockchain protocols are governed by a small group of stakeholders, DOT holders get a say in protocol upgrades and fixes, making it a fair and democratic protocol for all.
To keep the network honest and transparent, the platform incentivizes users via staking, which rewards good actors and causes dishonest users to lose their stake in the network.
On August 21 2020, Polkadot announced a 100-1 split of its original native token DOT. For every 1 DOT token you originally held, you would get 100 new DOT tokens worth 1/100 of the original price. This caused the token’s price to nearly double in price in just a number of days!
At the time of writing, DOT traded on Coinhako at $4.33 USD.
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.