Buy Polkadot in New Zealand (DOT)

Dr. Gavin Wood, co-founder of Ethereum.

Polkadot began as a concept in a white paper published by Dr. Gavin Wood, one of the co-founders of Ethereum, in 2016. With Robert Habermier and Peter Czaban, Polkadot was completed for its launch in May 2020. The Web3 Foundation was founded by Polkadot’s creators to develop the network further and maintain its open-source code.

DOT’s has three main functions: governance, security, and bonding.

Governance: DOT holders can exercise control over the operation of the Polkadot network, propose changes and vote on the platform.

Security: DOT tokens provide a financial incentive for validators who process transactions and secure the network.

Bonding: DOT tokens are bonded to lease slots on Polkadot's parachains. DOT tokens must be staked throughout the project’s lease period. DOT holders can also use DOT to vote on parachain auctions and earn rewards.

You can store DOT securely on Independent Reserve.

After you deposit fiat currency into your trading account you can buy DOT and safely leave it on the exchange. If you want to, you can easily transfer your DOT and store it in your own personal wallet.

Yes, we have world-class security.

After you buy Polkadot in New Zealand you can simply leave it on our exchange, and we will safely store it for you. Or, if you prefer to store Polkadot yourself, you can easily transfer the tokens to your preferred cryptocurrency wallet.

At Independent Reserve, we take security seriously. Security is at the forefront of everything we do. We have the highest level of protection measures in place to ensure that your cryptocurrency is kept safe. We offer two factor authentication (2FA), ISO 27001 certification, and top-tier underground vaults to protect your crypto. Learn more about our security.

The Relay chain, parachains, parathreads and bridges

The Relay Chain is the network’s control centre and is responsible for its consensus, cross-chain interoperability, and shared security. It connects to custom blockchains known as parachains and parathreads, allowing them to interact and communicate with each other.

Parachains and parathreads delegate their consensus and security computations to the Relay Chain, Polkadot’s central component, for fast and congestion-free transactions.

Finally, bridges build a connection with blockchains outside the ecosystem, allowing interaction without a central exchange.

There are currently $1.1 billion DOT coins in circulation.

Polkadot tokens are inflationary, meaning it has no supply limit. This incentivises DOT holders to stake their coins to help stabilise the network and create liquidity.

Blockchain interoperability and interconnectivity

Polkadot focuses on solving blockchain interoperability. Due to their isolated nature, blockchain networks exchange little to no information, which limits their potential and functionality. With Polkadot, users can exchange information and digital assets easily and securely.

The more DOT you stake the more DOT you will earn.

The amount you earn staking DOT depends on a couple of factors, such as the initial number of tokens you staked, the number of validators, and the amount of commission your chosen validators tend to pay out.

Staking supports blockchain development and earns you DOT.

Staking the Polkadot tokens you buy provides more than a sense of accomplishment from your contributions to the network operations and security. It also gives you the chance to increase your holdings.

You may lose some of your DOT tokens if they are misused. However, it’s a rare situation that is easy to avoid. Your returns will also be greater than if your tokens are left idling in your wallet.

Projects must compete for available slots

Polkadot holds parachain auctions to determine which blockchains can connect to a parachain slot. Every potential parachain can submit its bid to the Relay Chain. DOT holders can also participate by contributing their tokens to blockchains of their choice.

Once parachain slots are assigned, the auction winners must lock up a bond in DOT for the duration of the lease. This can last for as long as 96 weeks, though they can renew after the lease is up.