Polkadot (DOT)

What is Polkadot (DOT)?

Here are 5 key points about Polkadot:

• Shared security: Polkadot's main chain, the relay chain, secures many connected blockchains called parachains, so each one doesn't need its own validator set.
• Asset Hub: Everyday DOT balances, transfers, and tokens now live on Polkadot Asset Hub, a system parachain. Gem Wallet holds and sends DOT on Asset Hub.
• Interoperability: Parachains exchange messages and assets with each other through Polkadot's cross-chain messaging (XCM).
• Nominated Proof-of-Stake: DOT holders nominate validators and share in staking rewards.
• On-chain governance: DOT holders vote on network upgrades, treasury spending, and parameter changes through OpenGov.

tip

Learn more about Polkadot by reading the Gem Wallet Learn article: What Is Polkadot?

Polkadot Support in Gem Wallet

Gem Wallet can be used to:

• Buy DOT through available third-party fiat providers.
• Hold, send, and receive DOT on Polkadot Asset Hub.
• Open your address and transactions on Subscan.

Gem Wallet doesn't currently support DOT staking or swaps.

Minimum Balance (Existential Deposit)

A Polkadot account must keep a minimum balance, called the Existential Deposit (ED). On Polkadot Asset Hub, where Gem Wallet holds DOT, the ED is 0.01 DOT.

• If a send would leave less than 0.01 DOT in your account after the fee, Gem Wallet stops it and shows the minimum.
• To empty the account completely, tap Max. The account is then removed from the network, and the address can be used again later by sending it at least 0.01 DOT.
• A new account needs to receive at least 0.01 DOT to be created.

note

Earlier Gem Wallet versions used the old relay chain minimum of 1 DOT, so a send had to leave 1 DOT behind. The next app update uses Asset Hub's 0.01 DOT minimum. Until you update, you can still send everything with Max.

See What are Minimum Balance Requirements for Blockchains? for how other networks handle minimums.

How to Buy or Receive DOT?

• Buy DOT in Gem Wallet: open the Polkadot asset, tap Buy, and choose an available provider.
• Receive DOT: open the asset, tap Receive, and share your Polkadot address. A memo is not needed.

important

Gem Wallet shows DOT on Polkadot Asset Hub. If your exchange lets you choose between the Polkadot relay chain and Asset Hub when withdrawing DOT, choose Asset Hub, and send at least 0.01 DOT to a new address. DOT sent on the relay chain won't appear in Gem Wallet.

note

If Polkadot isn't on your wallet screen, add it by searching for Polkadot with the search button on the main wallet screen, or from Manage Tokens.

Transaction Fees on Polkadot

• Fees are paid in DOT and depend mainly on the size and complexity ("weight") of the transaction.
• A simple DOT transfer on Asset Hub usually costs a small fraction of a DOT.
• Gem Wallet shows the network fee before you confirm. Keep enough DOT for the fee and the 0.01 DOT minimum unless you're sending everything with Max.

How to Check DOT Balance?

Gem Wallet shows your DOT balance and activity. To view your address in an explorer, tap the three dots in the upper-right corner of the Polkadot asset, then select View address. To open a single transaction, tap it in the list, then open it in the explorer.

tip

Subscan (Asset Hub) is the default Polkadot explorer in Gem Wallet. You can switch to Blockchair under Settings > Preferences > Networks > Polkadot.

Why Choose Gem Wallet for Polkadot?

• Self-Custody: You control your private keys and your DOT.
• Asset Hub Ready: Gem Wallet holds and sends DOT on Polkadot Asset Hub, where everyday DOT balances now live.
• Clear Minimums: Gem Wallet checks the 0.01 DOT minimum before you send, so your account isn't removed by accident.
• Open Source: Gem Wallet's code is public and auditable.