What is Polkadot (DOT)?
Polkadot is a next-generation blockchain protocol that aims to create a decentralized and interoperable ecosystem of connected blockchains. Developed by the Web3 Foundation, Polkadot allows multiple specialized blockchains, or "parachains," to operate simultaneously, securely, and with high scalability. Polkadot's unique architecture enables cross-chain communication and interoperability between different blockchain networks, allowing users to seamlessly transfer assets and data between them. This is possible with the network’s XCM (The Cross-Consensus Message Format), which is a robust protocol for secure communication within the Polkadot-based blockchains, as well as with external networks through bridges.
Allowing for cross-chain token transfers, multichain smart contracts, and more, XCM sets the standard for communication in the world of Web3. The protocol is designed to be flexible and upgradeable, with the ability to add or remove parachains as needed. Polkadot's native token, DOT, is used for staking, governance, and transaction fees within the network. Learn more
How to Deposit DOT Into Your Coinmetro Account
For all information on how to deposit DOT into your Coinmetro account, please see the following help center article: How to Deposit DOT.
How to Withdraw DOT From Your Coinmetro Account
For all information on how to withdraw DOT from your Coinmetro account, please see the following help center article: How to Withdraw DOT.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.