How to Buy Binance Wrapped DOT Crypto (BDOT)
What is Binance Wrapped DOT (BDOT)?
Binance Wrapped DOT is a relatively new cryptocurrency on the Ethereum Chain that's been making a lot of investors excited. This project's community is already growing fast and strong. The technology that Binance Wrapped DOT is promising will be able to revolutionize the market if done right. Binance Wrapped DOT its still in his early stage but so far seems very promising.
Where can I buy BDOT Crypto?
You can buy Binance Wrapped DOT on Uniswap.
Why should you buy Binance Wrapped DOT?
Binance Wrapped DOT is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.
How to Buy Binance Wrapped DOT Crypto?
Step 1 - Register on Coinbase
Coinbase is one of the best exchanges buy cryptocurrency with Fiat money. They make it super easy to set up the account and start buying. You can have Bitcoin or Ethereum in your wallet within minutes of setting up the account. Use the link below to register and get 10$ of Bitcoin for free after buying 100$ or more of cryptocurrencies.
Register on Coinbase and get 10$ of Bitcoin for free.
Click on 'Get Started' and add your Legal Full Name, Email, Password, and State. They'll ask for verification on everything you put here, so make sure you only use your real name, State, and email. For your safety, choose a very strong password that you haven't used on any other account.
Proceed, and now you'll have to verify your email address by clicking the link on the email they sent you.
Sign-In on Coinbase and they will ask for your phone number. This is for the 2-factor security system. Enter your phone number and type the code you received by SMS. Click Submit.
Now you'll have to add your personal information. I know this is very boring and scary to add, but Coinbase is very trustful and probably the most secure exchange, so think about it like something you give, so you can get back all the security they offer.
To finish this part, you'll need to go through the ID verification process. Once that's done, move one to the next step.
Step 2 - Buy Ethereum with Fiat Money
Now that all the boring verification part is done, you have to add a payment method. You can choose between a Bank Transfer or Credit/Debit card. Credit Card has higher fees, but you can make an instant purchase. Bank Transfer is cheaper, but you have to wait a couple of days for the money to arrive at Coinbase.Go to the Buy/Sell page. Set ETH as the currency. Type the amount in ETH or fiat you pretend on buying. Select the payment method you chose to add (If you chose credit card, choose the card you added). Confirm everything is correct and click on Buy Ethereum.
Step 3 - Setting up a Metamask Wallet
Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.
You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.
Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.
Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.
Step 4 - Send your ETH to the Metamask Wallet
To buy Binance Wrapped DOT, you'll need to have some Ethereum in your Metamask balance so you can trade it for Binance Wrapped DOT. That is why I instructed you to buy Ethereum first, instead of Bitcoin, for example.
To have your previously purchased Ethereum on your Metamask wallet, you have to send it from your Coinbase account to your Metamask wallet.
Copy your Metamask Wallet address by clicking here:
Go back to your Coinbase Dashboard. On the upper right corner, click on Send/Receive.
Choose the amount you want to send (click send all if that's what you want). Paste your Metamask wallet address where it says 'To.' Confirm all the details and complete the transaction.
After some minutes (sometimes it takes a bit longer), you should see the ETH you sent on your Metamask Wallet.
Step 5 - Buy Binance Wrapped DOT on Uniswap with ETH
Uniswap is currently the number one Decentralized Exchanged in the world, and it's simply the best place to buy cryptocurrencies that aren't available on sites like Coinbase or Binance.
Before we head over to Uniswap, we need to prepare your Metamask Wallet to receive Binance Wrapped DOT. Open Metamask, scroll all the way down, and click here:
Select Custom Token and paste this token contract address there:
The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Binance Wrapped DOT (BDOT).
You can check the price and confirm the correct token address of Binance Wrapped DOT on Coingecko.
Let's buy some Binance Wrapped DOT!
Go to Uniswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Uniswap.
Select a token and paste the Token contract address: 0x7884f51dc1410387371ce61747cb6264e1daee0b
Click Import and accept the terms.
Now you have to select the amount of ETH you want to trade for BDOT. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your BDOT should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of Binance Wrapped DOT!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Uniswap's gear icon, and put 5% here:
Step 6 - How to store Binance Wrapped DOT on Ledger
Check out our guide on how you can store Binance Wrapped DOT on Ledger's Hardware Wallet
Please make sure you read our Disclaimer. We are not financial advisors.