Alfacash has announced the addition of Polkadot (DOT) on its platform. Users can now trade, buy and sell Polkadot (DOT) on the platform, safely without any complications. As well as Polkadot, Alfascash also offers fully non-custodial and automatic trading of 30+ cryptocurrencies for fiat (and vice-versa). This announcement will further propel adoption of DOT as a formidable proof-of-stake token with a wide range of benefits.
A recently-conceived decentralized Web 3.0 blockchain, Polkadot was launched by former Ethereum founder, Gavin Wood in 2020. The platform and its homonymous token enable users to create their own chains (parachains) with their own distinct characteristics.
All the transactions are confirmed on the relay chain (the mainnet) at an estimated speed of 1,000 per second. Polkadot, alike Cardano, works with Proof-of-Stake (PoS) instead of traditional mining cryptocurrencies such as Bitcoin and Monero. Hence, everyone can stake the native token (DOT) and receive proportional rewards over time.
Moreover, the Polkadot blockchain will enable something that they refer to as “bridges” which are new features that can connect and interact with different blockchains that have their own native tokens. These blockchains include Bitcoin (BTC), Ethereum (ETH), Cosmos (ATOM), and EOS. All these blockchains’ native tokens are also available on Alfacash for seamless interaction.
To commence trading on Alfacash, choose buy or sell, select DOT, set the desired amount, and choose your favorite payment method. That’s pretty much about it!
What can you do with Polkadot?
There’s a melange of possibilities with Polkadot for hodlers, here’s a few of them:
- Earn staking rewards: Stake DOT to earn yearly rewards up to 13%
- Buy and sell anytime you want at platforms such as Alfacash
- Use DOT to make faster transactions
- Use the mainnet to create unique Dapps and blockchains
- Reap future profits: DOT is already the eighth most traded coin by market capitalization alone. Its price increased by over 1,746% in 2020.