Polkadot Price Chart (DOT)
The year 2021 saw quite a few cryptocurrencies hit their prime and establish a solid rank among the top 20 coins – one of which, Polkadot (DOT), has been enjoying a significant rise in popularity within the crypto community. We’ve prepared a clear overview explaining what sets Polkadot apart from other major blockchains and why DOT, the blockchain’s native cryptocurrency, has become so intriguing.
Here you can see the current Polkadot price (DOT) and an overview of its historical development.
POLKADOT - EURO (DOT/EUR) |
|
|---|---|
| Current Price | 6,8718 -0,67% |
| Time and Date | Tuesday, 16.01.2024 18:13:40 |
| 24h Low | 6,7645 |
| 24h High | 7,0337 |
| Last 52 weeks Low | 3,4479 (20.10.2023) |
| Last 52 weeks High | 8,3480 (26.12.2023) |
How can I buy and sell Polkadot (DOT) in 2022?
After a dynamic price development in 2021 – which prompted Polkadot’s growing popularity – more and more crypto trading exchanges have added DOT to their portfolio. But for those who value simple, transparent, and fast trading when it comes to cryptocurrencies, BISON is the ideal choice.
Why buy Polkadot from BISON? It's simple, smart, and reliable
Jump right in, without any unnecessary paperwork
Register free of charge on the BISON app or right on the website and create an account. This account gives you access to all of BISON’s features, allowing you to try them out right away. In demo mode, you can experiment without worrying about any risks. Then, as soon as you get the hang of it, you can buy your first DOT coin. All you have to do is verify your identity (quickly and conveniently) online and you’re ready to go. There’s no need to supply your own wallet, deal with technical hurdles, or fill out unnecessary paperwork – BISON handles the complicated parts for you.
Test things out in demo mode
Are you new to crypto and looking to ease your way into trading? Then BISON is perfect for you! Before you buy your first DOT coins, you can carefully test out BISON and get to know all of its features step-by-step. There’s no time limit and we’ll provide you with play money in demo mode. This way, you can decide for yourself when it’s time to buy your first coin with real money.
Fee traps? Not with BISON
You’re ready and want to invest in Polkadot, but feel nervous there might be hidden charges? Don’t worry – with BISON, you won’t experience any nasty surprises like additional fees for transactions, deposits, etc. With BISON, you only pay the price that is displayed to you when you buy cryptocurrencies. This holds for Polkadot as well as for all other listed coins.
Only real coins – always
Anyone familiar with crypto trading is aware that the digital currency market has its pitfalls. Alongside real coins, there exist several alternatives that, at first glance, are virtually indistinguishable from the original. BISON strictly distances itself from such alternatives – here, you’ll only get real coins. Low-value or highly speculative derivatives (like CFDs) are explicitly not part of BISON’s philosophy of straightforward, transparent, and secure crypto trading.
Security and transparency powered by Börse Stuttgart
By choosing BISON, you’re also gaining a reliable partner – the Stuttgart Stock Exchange. You benefit not only from the reliability of a traditional stock exchange, but also from their high standards in security, technology, and transparency.
Table of Contents
1. What is Polkadot and how has DOT's price development been?
If you’ve been keeping even the slightest track of the crypto market, then you’re bound to have noticed the boom that happened last year (2021). Although new coins seem to be sprouting up like mushrooms, a few exceptional crypto have managed to outperform the competition – and Polkadot is one of them.
In terms of market capitalization, Polkadot (DOT) ranks among the top 15 digital currencies (as of June 2022) and has been consistently making its way into the top 10. When it entered the crypto market in August 2020, Polkadot was still trading for the moderate price of 2.57 EUR. In November 2021, DOT experienced its strongest performance to date with a peak price of 52.30 EUR.
Although Polkadot’s market value has since shifted downward, the digital currency continues to attract a growing number of investors. A look at its price history reveals something particularly interesting: Polkadot’s market value has increased by double digits on several occasions. This, among other things, reflects strong interest from traders.
In contrast to Bitcoin, DOT is inflationary. Whereas the inventor of Bitcoin – Satoshi Nakamoto – limited the number of coins in circulation to 21 million, Polkadot has no limit. This means that each year, the amount of DOT in circulation increases by roughly 10 percent. Right now, its supply is about 1.2 billion coins (as of June 2022).
When Ethereum co-founder Gavin Wood started developing Polkadot, he wanted to create something beyond just another standalone blockchain. His vision was to use Polkadot as a link between different blockchains to ensure secure and stable interactions between different systems. Polkadot essentially paves a way for other blockchains to communicate with each other. Despite operating completely independently of one another, these blockchains can exchange “messages” quickly and easily through Polkadot. In this way, Polkadot works as a so-called relay chain.
But that’s not all: In addition to its role as a communication facilitator, the Polkadot chain also supports new blockchain projects by providing them with various resources. Why does this matter? Well, at the heart of any blockchain lies security. If security can’t be guaranteed in the long run, the chain isn’t sustainable. That said, a lot of technological resources are required to ensure secure data transmission and processing, and those resources are limited. Small blockchain projects in particular struggle with this, making them more vulnerable to attacks. Polkadot can act as a catalyst here by giving these projects access to the resources they need.
As a relay chain, Polkadot effectively kick-starts new blockchains while simultaneously enabling connected chains to communicate with each other in a smooth, fast, and resource-friendly process. All of this is done through Polkadot’s native coins, called DOTs. Whenever a new blockchain is launched and/or linked to the Polkadot chain, DOTs are used. DOTs play a variety of other roles within the Polkadot universe, among which include ensuring network governance and security.
2. What are Polkadot’s advantages in comparison to Bitcoin (BTC) and other cryptocurrencies?
Easy communication: Polkadot’s most distinguishing feature is hands down its ability to function as a relay chain. This opens up a myriad of possibilities, particularly for companies operating their own blockchains; it enables them to link their blockchain with other systems without having to invest a lot of time and effort.
Fast and secure transactions: Because Polkadot is based on the proof-of-stake concept, any transactions executed within the system run at a relatively high speed. It can handle up to 500,000 transactions per second (TS), and the waiting times are negligible compared to many other coins, like Bitcoin. On top of that, the proof-of-stake approach assists in maintaining the network’s security at a consistently high level.
Resource-efficient and environmentally-friendly: Yet another advantage of the proof-of-stake concept is its extremely low power consumption. While Bitcoin requires extensive computing power and consumes massive amounts of energy as a result, the Polkadot blockchain distinguishes itself by being extremely energy-efficient. This ought to appeal to traders with an affinity for particularly “green” coins.
3. What are Polkadot’s disadvantages in comparison to Bitcoin (BTC) and other digital currencies?
Strong competition: Despite Polkadot’s unique ability to function as a relay chain, it still has to compete with “traditional” blockchains. It’s not just security that matters in the crypto market – speed and transaction costs also play a major factor in traders’ investment decisions. This brings us back to the proof-of-stake approach: Cardano and leading blockchain Ethereum also use this method, meaning that Polkadot is up against two major crypto players.
Inflationary approach: As previously mentioned, there is no defined limit to the maximum supply of DOTs. On the contrary, new DOTs are added every year, meaning that the current inflation rate in terms of quantity is 10 percent (as of June 2022). But don’t let this confuse you (!): Just because the supply of DOT increases by 10 percent every 12 months does not mean that the coin will lose value. The question of whether Polkadot will depreciate as a result of inflation is still uncertain.
Always keep an eye on the Polkadaot price
Keep track of the prices of the tradable cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT) and many more and stay always up to date what’s going on in the crypto world. Get the app now or register online!
