How to buy Polkadot from Australia

Recommended Broker 🇦🇺
👌Difficulty Low
☢️Commissions Very low
💲Minimum deposit 200$
🪙Cryptocurrencies: Polkadot and +15 more
⚖️Regulated by: Cyprus Securities and Exchange Commission (CySec), United Kingdom's Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
🌐 Official website: *
*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

How to buy

If you live in Australia, the best way to buy Polkadot is, definitely, this popular broker.

eToro*, one of the main brokers around the world, is registered and licensed, among others, by the Cyprus Securities and Exchange Commission, and therefore complies with all the regulations of the European Union, the most demanding in the world.

We recommend eToro because you can create an account for free with this broker, and its fees for trading online are very low. Besides, eToro is available in your language, accepts users from Australia, it is really easy to manage, and its friendly interface is ideal for those who are starting to trade with cryptocurrencies and stocks.

How to sign up, step by step

The first thing you need to do is click here and fill in the fields on the right: enter your name, email, and set a password.

Then check your email inbox: you should have received an email from eToro, click on “Verify my email” and your account will be verified.

Once on eToro, you just have to click on “Deposit funds”, in the page menu.

There, you can choose how much money you want to add to your account (the minimum is $ 200) and the payment method:

As you can see in the image, the first deposit can be made by credit card, PayPal, or bank transfer.

If you have a choice, we do not recommend bank transfer because it takes longer, and it can be very frustrating to see the price of Polkadot rising while you wait for your transfer to be done.

How to make your first purchase

When eToro has confirmed the receipt of your credit, you just have to search for “Polkadot” in the search bar, click on “Invest” and choose the amount in dollars you want to invest.

*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

Understanding Polkadot

Polkadot is a platform developed by Gavin Wood (co-founder of Ethereum) whose purpose is to allow the transfer of information between different blockchains and solve the scalability problems of these, which also has its own token: the DOT.

Each blockchain, along with its ecosystem, is a totally isolated entity from the rest, so they cannot communicate with each other. Thus, although we can exchange Bitcoin for Ethereum and vice versa, we cannot transfer data from one network to the other.

Added to this are the limitations of each network which, with the progressive increase in their use, end up congested and increasingly slower. In the case of Bitcoin, the network can only process on average 3 transactions per second, which is a very low limit.

On the other hand, Ethereum has even processed 19 transactions per second which may fall short given the large number of decentralized applications operating over the Ethereum network.

These limitations make it highly unlikely that these two cryptocurrencies (and the vast majority) will become a mainstream payment method. To understand this, let's compare with traditional means of payment such as Visa.

According to its official website, Visa can process 65 thousand transactions per second in 160 different currencies, although supposedly on average it only processes a maximum of 20 thousand transactions per second. Whatever the figure, the difference is abysmal.

Add to this the ability of the Visa platform to connect to other platforms such as Paypal, in addition to any bank's own platforms. Knowing the magnitude of the problem, we can now understand more clearly the breakthrough that Polkadot represents for the crypto world.

How much is the difference between Polkadot and other cryptocurrency networks?

Polkadot's complex infrastructure seeks to solve the problems described with a multi-chain platform where different blockchains can be connected, that's right, it connects Bitcoin with Ethereum and many others.

In addition, the platform allows individual chains to exchange information with each other also making it possible to process multiple transactions in parallel which greatly increases the amount of processing.

According to tests conducted in 2020, Polkadot is capable of processing more than 1,000 transactions per second. Although this amount is still far from what Visa processes, the best thing is that this amount can be increased very easily as the number of users and transactions grows.

But like all of them, it works with its own token, the DOT, which is used to pay fees for each transaction made using the Polkadot network. Therefore, as the use of Polkadot is expected to increase, the price of its token, the DOT, is also expected to grow steadily over time.

Some of its advantages are:

  1. It offers strategies from experienced investors so you can emulate them
  2. Allows “shorting” or short-selling
  3. User-friendly and straightforward
  4. Leverage is allowed
  5. Lets you invest in countless of other products

Main site: *

In case you are considering it, eToro is the best way to trade with Polkadot from Australia.

eToro is famous for making “social trading” a trend, an ingenious form of investing in which investors can imitate the movements of other traders who have been generating profits for a long time.

If you are a novice user or do not have much investment experience, eToro is very helpful. You can rest assured that you are doing a smart investment move when replicating those from subjects with a long profit record. And for those skilled investors willing to share their techniques with others, eToro pays for it.

It is also very convenient how easy is to manage this platform, perfect for new traders who are starting with Polkadot.

Payment methods on eToro

When it comes to depositing money on eToro, there is not much to say, since it is really straightforward. You only need to select “Deposit funds”, put an amount, and choose the payment option you prefer. You can use PayPal, bank transfer, credit card, Skrill, or Neteller.

(Keep in mind that you must be the account or credit card owner, for security reasons).

You can start from $ 200, and if you are not verified you will have a maximum amount allowed. Thus, if your intention is to deposit larger sums, you will need to verify your account previously.

eToro allows deposits in any currency, but charges a commission for making the conversion to USD. So it is better to use USD directly.

About Contracts for Difference

It is possible that you have found the initials CFD now and then if you already registered on eToro. Before we come back to this, you should know that CFDs on eToro are only possible when you are short-selling.

For the record, and if you want to try at some point day trading cryptocurrency and other more advanced operations, next you will also find terms like going short and leverage.

Even if you aren't “in the black”, you can still bet on eToro with CFDs. In a hypothetical case: you believe that the Polkadot will go down, so perhaps it is obvious to think “if it is going to depreciate, I simply refrain from getting in and I'll go in when it has gone down”. However, if it really falls, it might mean extra money for you.

The practice known as “going short” will allow you to do that. It functions, pretty much, like this:

  • They lend you, for example, 100 units of Polkadot, which cost $ 5,000 (these are completely imaginary numbers)
  • Next, you sell them at their current price, $ 5,000
  • The price is reduced, as you guessed, and the unit of Polkadot now costs $ 30 instead of $ 50
  • You buy all 100 units once again, but at the current price, $ 3,000
  • You give back the 100 units to the loaner
  • The difference is yours, so, you will have earned $ 2000

Consider that it is much simpler than it sounds: we can just say that by trading in Polkadot you can also make money if you foretell it will go down.

What's the difference between CFDs and futures?

How are Futures and CFDs different?

  • Who is the counterparty? In the case of Futures, the counterparty is another investor. In CDFs, it’s the broker (eToro)
  • When do they expire? Futures expire in a variable given date, while CFDs don’t expire
  • Markets available for trading: The market for Futures is narrower. CFDs include a wide range of possibilities.
  • Minimum investment amount or “trade size”: Costs for Futures are higher than costs for CFDs.
  • Leverage: with Futures, you can’t leverage; while with CFDs leverage is always available.

Leverage explained

In case you still don't know what “leverage” is, we'll put it short: it is, simply, the ability to use a higher amount than you actually have. For example, if you start with $ 100 and you use x2 leverage, you will be investing $ 200.

Why using leverage and how to do it

Suppose now that you are sure that the price of Polkadot is about to raise its price, therefore you choose to take a long position.

You are completely certain that Polkadot will rise, and you just have $ 1,000 at that moment, but the fact is, you have the chance of investing more.

There's the possibility of requesting a loan at your bank, but you must know that all the process takes time, and by the moment you receive the money, Polkadot might be already at a much higher price, so you wouldn't be able to invest the way you planned.

Leverage is like a credit, but it is only a few clicks away! eToro allows you to invest (and earn) much more than what you have on the platform. Before trading, you will see the leverage options as in the image below:


With other assets, the leverage you can use is higher. Why? Because leverage is most common in short-term operations or day trading, and cryptocurrencies tend to be a medium or long-term investment. Let's talk a bit more about how leverage works.

You enter with $ 1,000 and decide to use leverage x2, which means you would really invest $ 2,000 (the extra $ 1,000 to reach $ 2,000 are “borrowed” from eToro).

A couple of days pass and turns out that you were right: Polkadot increases by 20% and your money has appreciated reaching $ 2,400. But you don't want to take too much risk, so it's time to sell.

Obviously, the 1k $ from leverage will be deducted, and you'll have $ 1,400 left, of which $ 1000 is the money you invested yourself, so the net profit is $ 400.

By starting with $ 1000 and getting $ 400, you'll be earning 40% of your investment. That is pretty good.

It may sound too good to be true. The trick is that the risk of losing out is also there. If everything goes as planned, you will earn profits in little time; but if the opposite happens, you will also lose more really fast.

For instance: if instead of increasing by 20%, the price falls by 10%, you won't lose $ 10, but twice (the leverage) that figure, that would be $ 20. That is why the concepts of Take Profit and Stop Loss are so important when operating with leverage.

Take Profit is a limit you can set when trading: you set the platform to sell your assets once they get to a point above the entry price. For instance, you can buy Polkadot at $ 100 and ask eToro to close your position automatically when it reaches $ 120. It is very helpful to avoid being blinded by greed: a 20% profit is usually pretty good, but once you see the price has risen, you might want to gain a bit more and decide to wait, but this could be a mistake. So, Take Profit helps you reduce risks when trading.

Also, if you use leverage you absolutely need to place a Stop Loss order (take into account that any small loss is greater with leverage). You always need to mark a Stop Loss more conservative than that suggested by eToro.

What are the instruments you can trade in eToro?

Besides criptocurrencies, there are more financial instruments you can trade with .

Exchange-Traded Funds

What do you know about Exchange-traded funds? They are similar to index funds and are known for merging the advantages of stocks and mutual funds: they can be exchanged at any moment in the market, but have much more investment possibilities and the fees are significantly lower.

Index Funds

If a long-term investment sounds good to you, and you won't need to withdraw your money in five or ten years, index funds can be the best choice. This type of investment is also great for beginners since the risks are lower. Besides, the variety is wider.

Unlike a lot of people think, beating the benchmark is far from being a piece of cake and very few fund managers achieve that, apart from some famous cases.

In practice, if a fund manager achieves to beat the market, it is only for a short time or on a specific occasion. Or perhaps they would charge very high rates and indexing would be a better decision anyway.

With index funds, you won't be concerned about that: they usually beat active managers in the long term, and the charges are lower than you imagine.

Foreign exchange

Forex or currency trading is the exchange between a pair of currencies in order to obtain a profit.

For instance, if you decide to exchange EUR and USD, you speculate how many dollars it will take to buy a euro, thinking that the euro will raise its price compared to the dollar. Therefore, if you bought each euro for 1.15 USD and you sell them back when they are worth 1.20 USD, you'll be keeping that difference.

Perhaps you already inferred this, but operating with foreign exchange requires investing a lot, since variations are normally low, or using much leverage, which is always a risk. Our recommendation for those starting in the world of trading is to choose another market to begin with, since Forex is risky and complex.

You can trade with almost all well-known currency pairs on eToro but take into consideration that in Forex sales are always made through contract for differences, thus you will not own the underlying asset.


Stocks are the most common financial assets. Some publicly traded companies divide their capital into fractions: you can be one of those shareholders, but first, you have to know where and how to make your investment.

There are, basically two kinds of shares: the ones that divide their earnings regularly among the investors, and those that don't. The former ones are great, of course, but investing in the latter can be a good idea too since sometimes you can make even more money by selling the shares later.

When trading on eToro, if you choose a company that pay out dividends, these will be deposited into your account, and you can withdraw your money or reinvest it. We suggest, if you don't need the money right away, that you don't renounce the magic of compound interest and reinvest it in the company itself.

Remember that on eToro you can use leverage to “dope” your trades, but in that case, you will not receive dividends as the trade is a CFD. For long-term investments, it is not advisable to use leverage: not just because you lose dividends, but also because you will have to pay commissions during the days that you keep the position open, and these can end up eating your profit.

How to use eToro

We mentioned before that eToro is very easy to manage. Anyone can start using it without having to read endless explanations.

If you have used any of the most popular social networks today, like Instagram or Facebook, you can perfectly manage this platform.

Now we are going to detail the sign-up process and the sections of the page that you should know.

First of all, you will have to fill in all the information that eToro asks for: first and last name, address…

During the sign-up process, you will also find some questions about your previous trade experience.

But don't feel intimidated, there is no right or wrong answer. The only intention is to know more about you and be clear about which financial instruments they should recommend according to your knowledge and experience.

You will see a bar that says “incomplete profile” until you complete all the requested information.

Next, we will talk about the different sections of the platform.

“Set Price Alerts” allows you to set alarms on the price of certain securities. This is very useful when you are after a security that is falling, but perhaps you think that it will decrease even more.

“News Feed” is for social purposes and interaction. This is the section where users can share opinions and information.

In “Discover” you will find the investment tabs: “Instruments”, “People” and “CopyPortfolios”. And we discussed previously in this guide the different financial instruments that are available on eToro:

  • cryptocurrencies
  • Exchange-Traded Funds
  • Shares
  • Commodities
  • Forex
  • Index funds

In the tab “People”, you will find eToro users and their historical performance. This is where you can duplicate with just one click the movements of the investors that you find most inspiring.

In this section, you can search and find users according to your interests. When you select an investor and indicate how much money you want to invest, eToro will automatically replicate their movements, proportionally. If you invest $ 1000 and the trader puts 20% of their funds in an asset, the platform will put $ 200 of your funds in the same asset or company as well.

You will also see the three main types of CopyPortfolios, which are “Top Trader”, “Market” and “Partner”.

The advantage of using CopyPortfolios instead of copying individual investors is that this way the risk will be more diversified. The portfolios are identified so you can recognize them easily: one about gaming, another about large drone companies, another about pharmacy … Do you suspect that a certain sector is going to have success anytime soon? Then look, because surely there is a CopyPortfolio about it.

Frequently asked questions

How much is the minimum deposit?
Only 200$.

When will I be able to withdraw my funds?
Whenever you want. You just have to end your Polkadot trade, go to “Withdraw Funds” section and that's all.

What payment methods accepts eToro?
Available payment methods are: Bank Transfer, Credit Card, PayPal, Neteller, Rapid Transfer, Skrill and Klarna / Sofort Banking.

* Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.