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Sunday, February 7, 2021

Crypto Exchanges for US Residents to buy DOT

Please read the disclaimer first.

So I blogged about wanting to diversify my crypto assets from Bitcoin (BTC) to Polkadot (DOT).

I had an account in Coinbase, but they don't support DOT.  My friends use crypto exchanges like Binance and MXC, but they are not open to US residents.

So my search began, where can I buy DOT in the US?  Since I already have BTC, it had to be a place where I can buy DOT directly from BTC.  Well, if they support DOT, they will most likely let me do that.  But the key is liquidity.  If there is not enough trading volume, you might have to wait a while to obtain DOT, or maybe get it at a higher price.


So here it is, crypto asset exchange ranking by DOT/BTC trade volume.
1位 Binance

Binance

Based in China, Binance has a DOT/BTC trade volume of about $70M! This is by far the most.

The only catch is, they don't offer their service in the US. They do have a US version of the exchange (Binance.US), but that one does not support DOT.

Oh well, if I lived in a country supported by the main exchange, this would be my first choice.

Binance

2位 Kraken

Kraken

Based in San Francisco California, Kraken has a DOT/BTC trade volume of over $6M.

I think this will provide the best liquidity for US investors.

Kraken

3位 KuCoin

KuCoin

Based in Singapore, KuCoin has a DOT/BTC trade volume of less than $1M.

They do provide service to US investors, but there relative low volume for the pair worries me about liquidity. They do boast that 1 in every 4 crypto asset holders have an account, so very popular with the major pairs.

KuCoin


I've decided to go with Kraken as the obvious choice.  I will be blogging about that as well...

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