Best Polkadot Wallet UK – 4 Best Polkadot Wallets in 2021

Holding some Polkadot (DOT) tokens or looking to buy some? To get started, you will need to do your homework and find a trustworthy and reputable wallet provider to store your Polkadot investments in safety.

In this guide, we review the best Polkadot wallets in the UK for 2021 and show you how to get set up step-by-step.

#1 Polkadot Wallet In the UK – eToro

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Best Polkadot Wallet in the UK – Top 4 List

Find below a quickfire guide on the best Polkadot wallets in the UK:

  • eToro – Overall Best Polkadot Wallet in the UK
  • Coinbase – Best Polkadot Wallet for Beginners
  • OKEx – Recommended Polkadot Wallet for Features and Tools
  • Binance – Best UK Polkadot Wallet for Asset Diversity

We offer a full review of each Polkadot wallet in the next section of this guide – each offers a safe place to store your DOT tokens nonetheless. Shortly, we also detail how to find the best wallet for your needs and the different types there are available.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider. 

Best Polkadot Wallet in the UK – Full Reviews

To save you from having to research hundreds of providers – we offer a full review of the top Polkadot wallets in the UK next. When conducting our investigations, we look for features such as the ability to buy, sell and swap DOT tokens from within the wallet itself. We also consider safety, available crypto markets, low fees, and ease of use – amongst other criteria.

1. eToro – Overall Best Polkadot Wallet in the UK

eToro is a top-rated platform serving over 20 million clients and is regulated by the UK’s FCA, Australia’s ASIC, and also CySEC in Cyprus. We found this the overall best Polkadot storage solution for all skill sets. The wallet is free to download on both Android and iPhone and is regulated and licensed by the GFSC of Gibraltar. As such, there should be no worries about security on either the application or the main trading site. Once you have signed up and downloaded the Polkadot wallet, you can access your account on whichever platform you like.

As well as having the ability to store Polkadot in this wallet – it is compatible with 120 alternative cryptocurrencies. Additionally, on the main eToro platform, you will find some 29 tokens to buy and sell with ease – thanks to the brokers’ easy-to-use website. This includes Bitcoin, Litecoin, Dash, Ripple, Ethereum, Cardano, Tezos, and many others. You will only have to pay the spread here – which is very competitive at just 0.75%. Via the main dashboard, you can also access alternative markets such as ETFs, commodities, and stocks – the latter with 0% commission fees to pay!

etoro crypto wallet

Are you looking to allocate small amounts at a time to cryptocurrencies? This won’t be a problem with the eToro crypto wallet, as the provider is compatible with fractional investments starting from just $25 (approximately £18). The broker accepts fiat currencies from around the world to deposit. Notably, the platform is denominated in US dollars – so there will be a small 0.5% fee to swap your GBP to USD. Accepted payment methods include credit and debit cards (Visa and Mastercard), UK bank transfers, and e-wallets inclusive of PayPal, Skrill, and more.

When you are looking for the best Polkadot wallet in the UK, you will undoubtedly need to see what safety measures are in place. This mobile app includes features such as standardization protocols, multi-signature facilities, DDoS protection, and more. These advanced safeguards should give you greater peace of mind that your investment is highly unlikely to be vulnerable to unauthorized access. For those looking for more than just a storage solution, this offering from eToro also allows you to monitor your crypto portfolio – as well as buy, store and receive digital assets.

eToro crypto CopyTraders

As well as using sophisticated tech to secure your wallet, eToro offers an unlosable on-chain private key service. This means you can recover the password needed to access your DOT tokens should you lose or forget your details. Some features available on the main platform include a free demo facility with $100k in paper funds and a Copy Trader tool whereby you can invest in a seasoned crypto investor and mirror their trading orders – in proportion to the amount you allocate to them. As this is a regulated broker, you will need to complete a KYC process.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Top-rated cryptocurrency wallet app on Android and iOS
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider. 

2. Coinbase – Best Polkadot Wallet for Beginners

Buy MANA at Coinbase

The Coinbase wallet is super easy to get around and the exchange behind it looks after 56 million traders and investors’ accounts from around the world. There are a couple of options from this provider. The first is to opt for the web wallet, which saves you from looking after your own private keys and ensures that 98% of your DOT tokens are kept in cold storage offline. Security measures are crucial in this industry – largely due to the number of cryptojackers (or cybercriminals) active online.

The web wallet offering is downloadable as an extension on your browser, which can be added to your desktop. If you are confident enough to look after your own private keys, you might prefer to install the app version. This is free of charge for Android and iPhone users and supports over 500 different tradable tokens. When using the aforementioned mobile offering, you can check in on the performance of your crypto portfolio by linking your Coinbase account to the application. The Coinbase wallet supports large, medium, and small-cap crypto assets.

coinbase wallet

This is inclusive of Bitcoin, Ethereum, XRP, Solana, Dogecoin, Uniswap, Tron, Dai, and hundreds more. In terms of fees,  commissions aren’t as low as it could be here – as you will be charged 1.49% to buy and sell DOT tokens. Please note, if you fund your account using a credit or debit card you will need to pay 3.99% of the amount you deposit. You may also select a UK bank transfer. First, you must go through the KYC process – which again, we talk about later for any beginners. All in all, the procedure is usually fairly fast and stress-free.

Pros

  • One of the most popular cryptocurrency exchanges
  • Mobile wallet on iOS and Android devices – control your private keys
  • More than 56 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, the UKs #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider. 

3. OKEx – Recommended Polkadot Wallet for Features and Tools

OKEx homepage

OKEx is a crypto exchange platform. This provider offers a comprehensive storage option for those of you looking to safely secure your Polkadot tokens. There are over 20 million clients on its books, and the provider will take every measure to secure your purchased cryptocurrencies. This includes an advanced semi-offline multi-signature mechanism and analyzing unsigned transactions for anomalies – all to prevent your private keys from being compromised.

This provider allows you to choose between a web wallet and a free mobile app. The latter will see you taking care of your own private keys, so it might be better suited for experienced individuals. The web option saves you the burden of safekeeping the secret key needed to access your investment. The OKEx wallet allows you to use your DOT tokens to trade with an alternative cryptocurrency – or purchase another digital asset. Furthermore, there are in excess of 400 digital currency pairs listed. This includes pairs containing Bitcoin, Tron, Ethereum, Terra, Stellar, Monero, Cardano, and many others.

OKEx Bitcoin wallet

Commission stands at 0.10% to buy and sell DOT tokens, which is much more competitive than the previously reviewed Coinbase. It’s important to note that if you opt for the decentralized mobile app via Android or iPhone – you will not be able to recover your private keys if you lose them (like you can at eToro). When you are ready to add funds to your account, you will need to complete the KYC procedure. Once OKEx has validated your ID, you can make a deposit directly through the application – debit and credit cards are accepted here.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, the UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. Binance – Best Polkadot Wallet in the UK for Asset Diversity

Binance Homepage

Binance is another crypto exchange on this list that is no stranger to offering a worldwide service to millions of people. This wallet is suitable for both beginners and advanced crypto investors. The storage offering from this provider is the Trust Wallet – which also doubles up as a portable exchange. Trust Wallet is not only secure, but very easy to use.

Via the Trust Wallet app, you can access thousands of cryptocurrencies aside from Polkadot and also opt to send and receive tokens at the click of a button. The mobile platform supports over 40 blockchains. Digital assets include Ethereum, Bitcoin, Ripple, SushiSwap, Chainlink, Terra, Monero, and more. You may also choose to store your DOT investment in the Binance web wallet, which ensures your investment is kept safe and offline in cold storage.

trust wallet

You can buy and sell Polkadot from within the app. Debit/credit card options include Visa and Mastercard. You can also trade DOT tokens by making a deposit using one of 150 cryptocurrencies – if you already hold some. This platform adheres to industry standards such as AML compliance and performing KYC, so you will need to tell the provider who you are and complete your profile by uploading your ID. The commission fee here is 0.10% per slide. If you plan to buy and hold – you might want to take a look at the Binance savings account – allowing you to make money on your crypto holdings.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit cards
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, the UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

What is a Polkadot Wallet UK?

Much like with any asset you invest in, you must think about where you might safely store it away from the wrong hands. For instance, we might keep physical gold bullion in a vault, and tangible fiat currencies in a safety deposit box at a bank – Cryptocurrencies, on the other hand, are digital and must be kept in a crypto wallet or with a trustworthy online brokerage.

  • The best Polkadot wallets allow you to store, buy, sell and exchange DOT tokens with ease.
  • You should also be able to operate your crypto portfolio on the move.
  • It’s important to check the security features and type of wallet offered by the provider in question.

Depending on the type of storage you choose, which we run through shortly, you may be given two keys – a public and a private. The first is what you will need to send cryptocurrencies into your wallet – like telling someone your sort code and account number. The latter allows you and only you to access your digital assets.

etoro app

As we mentioned in our reviews – some of the best Polkadot wallets in the UK allow you to store DOT tokens safely and save you the liability of looking after your own private keys. This option might be preferable for beginners because, if your secret information ends up in the hands of crypto thieves – the chances are you will never see your digital assets again. We talk about how to find the best storage option for your needs next.

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CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

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CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
311014
Trading Fees
SpreadsCommissionN/A
Deposit Fees
N/A$0N/A
Withdrawal Fees
5 USD$0N/A
Regulated
N/AYesCBI and MiFID in Europe
Min. Deposit
50$$20$100
Leveraged Trading
N/AYes1:2 for cryptocurrencies
Bitcoin
$62206.49$62262.47$62417.97
Ethereum
$3869.52$3801.17$3810.66
XRP
$1.11$1.09$1.10
Tether
$1.00N/AN/A
Litecoin
$191.43N/A$188.99
Bitcoin Cash
$624.48N/A$620.50
Chainlink
$25.86N/A$26.25
Cardano
$2.19$2.12N/A
IOTA
$1.21N/A$1.18
Binance Coin
$502.67$578.23N/A
Stellar
$0.38$0.37$0.38
EOS
$4.59N/A$4.53
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

How to Find the Best Polkadot Wallet UK

Earlier, we reviewed the best Polkadot wallets in the UK. To make a final decision, you should look at your own personal goals and priorities before making a decision. Below, we discuss the various types of storage available for your Polkadot tokens – covering features and key metrics to look out for.

After that, for any newbies, we walk you through the step-by-step process of how to sign up with a provider and start using a Polkadot wallet today!

Polkadot Wallet Types

See below the various types of Polkadot wallets seen in the UK. This should help you decide what might be best for your needs.

Polkadot Mobile App Wallet

A Polkadot wallet you can download and install on your mobile is likely the most convenient option for all traders and investors. For instance, if you were to head over to a provider like eToro – you can download the application via the relevant app store with ease, in the safety of a regulated platform. It’s crucial to consider the safety of your investment, no matter which type you find the best for you.

The best Polkadot wallet in the UK will:

  • Use fingerprint security and/or 2FA
  • Be free of charge and easy to download and install
  • Provide an easy to navigate view of your portfolio
  • Allow you to buy, sell, swap, and store your DOT tokens

eToro’s regulated Polkadot wallet supports over 120 cryptocurrencies, uses advanced security measures, and also enables account access via the app or the main platform. As we mentioned in our review, only the spread is payable when placing an order and a small 0.5% fee will be charged on your deposit – to exchange British pounds and pence for US dollars.

Polkadot Hardaware Wallet

A hardware wallet is one of the safer options when it comes to a secure place to store cryptocurrencies. However, this is a more complex route for newbies as for it to be effective, you need to clearly understand how to shield your investment from criminals.

See some key characteristics of a hardware wallet:

  • A Polkadot hardware wallet is a physical device that looks like a USB drive.
  • Your private keys (needed to access your DOT tokens) will be held on this device.
  • Securing a Polkadot hardware wallet might include keeping all software up to date, regularly backing up your data and encrypting it, hiding your seed recovery phrase somewhere only you know, and much more.

We should also note that hardware wallets come at a price – often averaging around £50-£75 per device.

Polkadot Web Wallet

As we touched on in our reviews, the Polkadot web wallet option enables you to log into your broker or exchange account and see your investments right there in your portfolio – without downloading an app. Not only does this mean you no longer have to worry about losing your private keys – or worse, a criminal getting hold of them. But, it also means that you don’t need to worry about insuring or securing your investment yourself.

For instance:

  • Top-rated broker eToro is regulated by huge financial regulators, the FCA, CySEC, and ASIC.
  • This creates safe conditions to not only buy and sell – but also store digital tokens.
  • The minimum amount required to buy cryptocurrencies is $25 – which is affordable for most traders and investors.

However, eToro is somewhat of an exception here, as most web wallets are backed by unregulated cryptocurrency exchanges. As a result, if the exchange gets hacked remotely, your Polkadot tokens are at risk. 

Polkadot Desktpop Wallet

Instead of downloading an app on your mobile device, Polkadot desktop wallets are accessed onto your laptop or PC. If you are at home most of the time, you may not be too concerned with limited access to your investments. However, for most, this is considered the least accommodating way to access your DOT tokens. After all, you never know when you might need to place an order or view your account in a hurry.

Polkadot chart Coinmarketcap

The best Polkadot wallet in the UK will be able to offer you a well-rounded storage and exchange solution – whereby you can access your account whenever you wish and can also buy and sell. For instance, when signing up with eToro, you still have the option to safely buy, sell, and store digital currencies on the main platform itself – by simply signing into your account.

Polkadot Wallet Security Features

For anyone unversed with Polkadot wallets in the UK – not all security features are the same. For instance, some might allow you to sign into a mobile app using your fingerprint, where others might only need a bog-standard password.

To clear the mist on what to look out for, you will see below the basic security features used by the best Polkadot wallets in the UK:

  • Regulation: We have mentioned regulation a couple of times already throughout this guide. The reason is that in the blockchain space, it’s more important than ever. For instance, if you don’t yet feel experienced enough to secure your DOT tokens and keep your private keys away from hackers – you will probably opt for a web wallet. In this case, you are entrusting a provider with your investments – and what better company to trust than a licensed one. The FCA approves and regulates eToro. This gives you a safe place to hold your cryptocurrencies, also providing easy access when you want to cash out.
  • Two-Factor Authentication (2FA): Two-factor authentication is nothing new, but it is a crucial security feature offered by the best Polkadot wallets in the UK nonetheless. This will see you identifying yourself in two different ways before you can get your hands on the contents of your wallet – thus preventing any unauthorized access from bad actors.
  • IP and Device Whitelisting: We mentioned IP and device whitelisting in our earlier reviews of the best Polkadot wallets in the UK. This entails adding the wallet addresses of trusted senders to your address book list to ensure legitimate transactions.

Safety is important, but the best Polkadot wallets in the UK will also list heaps of markets and enable multiple actions from one platform. See below where we explain further.

Features – Buy, Sell, and Swap

Some Polkadot wallets in the UK are only available to use for keeping tokens safe. Most modern traders and investors want a little more from their crypto storage facility.

  • Regulated wallet provider eToro facilitates the buying, selling, and storing of crypto tokens in a few clicks.
  • This enables you to cash out your investment with ease from under one roof – without the need for a third-party exchange.
  • You can invest from as little as $25 in tons of digital currencies too.

If you think the best Polkadot wallets in the UK should offer more than just storage – it’s important that you mark this as one of your priorities before signing up.

Listed Cryptocurrency Markets

Although you might only want to store Polkadot tokens now – you will probably want to branch out later. After all, there are thousands of cryptocurrencies in existence today. Broker ‘A’ may only offer access to huge markets like Bitcoin and Ethereum. In contrast, broker ‘B’ might list tokens that are still up-and-coming – such as ones with a much smaller trading volume like Armor or Dai.

The eToro wallet supports DOT and over 120 alternative cryptocurrencies – spanning tokens that are new on the scene, and well-known large-cap offerings with huge trading volumes.

How to Get Started With the Best Polkadot Wallet UK

The best way to get the ball rolling is to offer you a step-by-step walk-through of how to sign up with eToro, today’s winner of the best Polkadot wallet in the UK.

  • Three regulatory bodies approve and license eToro – ensuring your funds are kept safe at all times.
  • This is inclusive of the FCA, ASIC, CySEC.
  • The wallet itself is licensed by the GFSC in Gibraltar – which offers you an extra layer of safety.

Furthermore, the eToro wallet is easy to navigate, fees are competitive and you will not be charged extra to store your DOT tokens in a safe and heavily regulated environment. See below how to get started in under five minutes!

Step 1: Open an Account

Go to the eToro website and click ‘Join Now’ to sign up. You will see a registration form appear.

  • Here, you can enter your full name, desired username, a safe password, and contact details such as email and mobile number.
  • Click ‘Create Account’ to confirm when you are sure all information you have given is accurate.

As with all the best Polkadot wallets in the UK, eToro is regulated – hence you will also have to fill in your address, tax number, date of birth and answer a few questions about your trading knowledge.

how to join etoro

The next step in creating your eToro account is to complete the KYC process. This entails uploading a copy of your passport or driving license so that the broker can validate your ID. Next, you can provide a copy of a bank statement or utility bill – issued within the prior three months. This is so that eToro can confirm the address you have given. The whole procedure is fast and convenient at eToro.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Download the eToro Wallet

You can now download the eToro wallet. Simply choose Google Play if you are an Android user or the App Store if you possess an iPhone.

etoro wallet

Once the download is complete, you can begin your installation, which should take seconds if you have a decent internet connection. Once complete, sign in using the username and password you created in Step 1.

Step 3: Add Polkadot to eToro Wallet

Now, if you already own some Polkadot tokens, you can transfer your investment to your new eToro wallet using the public address given to you by the provider.

If you don’t own any DOT tokens – or you wish to buy more, you can purchase some via the eToro wallet app. The minimum trade size is just $25 and you use a UK debit/credit card to fund your purchase!

Remember, you can also store more than 120 other cryptocurrencies and trade 500+ pairs within the wallet to diversify!

Best UK Polkadot Wallet – Conclusion

The best Polkadot wallet in the UK should offer a multifunctional storage solution that supports heaps of alternative digital currencies. You should also accept at least basic security features such as 2FA and multi-signature facilities – to keep your investment safe from the many crooks in the crypto space.

The type of wallet you choose will depend on your knowledge of cryptocurrencies and online security. If you are quite confident with the idea of securing your private passkey and regularly changing multiple passwords, you may prefer an advanced hardware wallet. Most beginner crypto investors and traders will opt for a mobile or web offering.

The eToro mobile wallet supports over 120 digital currencies that you can buy, receive, and store. You can also convert digital tokens instantly with a few clicks. The broker behind this storage solution is regulated by the UK’s FCA, amongst other financial bodies. Furthermore, you can also access heaps of markets via the main eToro website, which offers competitive fees and allows you to store your investments within your portfolio.

eToro – Best Polkadot Wallet the UK

 

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.