The crypto space has many gems and many investment opportunities to offer. One such gem is Polkadot DOT. Although relatively newer than Bitcoin and Ethereum, Polkadot DOT has shown incredible potential in the crypto market and gained the attention of many people looking to invest. This blog outlines everything you need to know about Polkadot DOT before investing. Let’s start!
The Inception Of Polkadot DOT
Polkadot DOT was created and launched by the co-founder of Ethereum, Gavin Wood, and is said to be its biggest competition. Initially released to the masses in late 2016, it holds the ability to run multiple chains in a parallel way. It is essentially a shared version of Ethereum and its native currency in DOT.
In 2017, Wood founded a non-profit that helped Polkadot DOT raise 145 Million USD by selling its first token. Polkadot DOT initiated its testing of relay chains in 2018 using countless Proof of Concepts or PoCs. Polkadot DOT launched its last two phases in 2020 to distribute governance rights among various entities.
Current State Of Polkadot DOT
Polkadot DOT has secured its place in the world’s top 10 fastest-growing and most profitable cryptocurrencies. It has a constantly circulating supply of around 1 million coins, which is projected to increase about 10% annually.
The current market value of Polkadot DOT is 1545 PKR, which has seen a 6.05% decline in the past 24 hours. However, there has been a 43.73% rise in the value in the past month alone, which means its projected values will be green. The current decline in value makes it the perfect cryptocurrency for long-term and short-term returns.
Polkadot DOT value Predictions
Polkadot DOT has been projected to reach a massive upsurge in the coming months, then another rise in the next year, giving many opportunities for both short-term and long-term investment. Let’s take a closer look:
Predictions For The End Of 2023
Even though Polkadot DOT is on a decline right now, it is projected to rise quite significantly by the end of this year. The estimated rate is around 12.2% or 1817 PKR by 31 December 2023. This gives investors an excellent window for short-term investment with low risks.
Predictions For The End of 2024
On the other hand, Polkadot DOT also offers a great window of opportunity as it is predicted to rise by the end of 2024. The estimated rate is around 77.3% or 2871 PKR by 31 December 2023. This will give investors a great chance for a long-term investment with the potential of tripling their returns.
How To Invest In Polkadot DOT?
The easiest way to invest in Polkadot DOT is through a reliable e-money exchange platform like XChanger. It offers the opportunity to invest in multiple cryptocurrencies without figuring out how to verify a WebMoney account in Pakistan or how to open an international PayPal account. All you need is to enter your e-banking and personal info, and you are all set.
Polkadot DOT is the rising star of the crypto world. It may have seen a few drops, but it is on the up and up. Investors considering investing in this coin need to use a trustworthy money exchange like XChanger, or they risk being scammed. The projected rate for DOT coin is expected to reach new heights and will likely become more profitable than Ethereum. If you are unsure about investing in DOT, many other profitable coins are available on XChanger for you to choose from. Good luck with all your future investments!