What is a Polkadot wallet
If you're new to crypto, you may be wondering what is a Polkadot wallet. Let's take a look.
Polkadot wallet is a device, app or a web-based service used to receive, store, and spend your crypto. In a way, it is similar to a bank account: it shows how much crypto you have, you can send it to another DOT wallet, and it also has a public address you can use to receive DOT.
Unlike a bank account, it is decentralized. There is no single authority opening crypto wallets, and you can pick the best Polkadot wallet for your needs.
What makes the Paybis wallet special? We've built a free Polkadot wallet that is both secure and easy to use. If you already have a Paybis account, you can get a reliable, secure Polkadot wallet in just a few clicks!
How to set up a Polkadot wallet
Our wallet is an online Polkadot wallet. You can access it right from your browser – you only need a Paybis profile. If you don't have one already, signing up only takes a few minutes and is absolutely free.
Once you've logged on, the rest is as simple as it gets:
Click the “Wallets” tab or “Open wallet” button;
Press the “Add wallet” button”;
Enjoy your free DOT wallet!
Really, that's all there is to it. Your Polkadot wallet is now ready to use and fully functional.
How to use your new DOT wallet
Your new DOT wallet is empty. There are several ways how you can add crypto to it:
Deposit crypto from another source or another Polkadot wallet, using your public address;
Buy some DOT at Paybis – we'll transfer it right to your wallet as soon as the payment clears.
What can you do with your DOT? One option is to HODL, that is, keep it, waiting for the price to increase. With Paybis, you can be sure you're HODLing your crypto in the safest Polkadot wallet out there.
Of course, you can also send it to another wallet – there are no withdrawal restrictions, and you only have to cover the standard blockchain fees.
So now you know what is a Polkadot wallet, how to get one and what you can do with it. The next step now is to open the best wallet for DOT and start your crypto journey today!
