Polygon, formerly known as Matic, is a network that aims to help blockchains reduce transaction costs, increase transaction speeds, and implement innovations over existing blockchain technologies.
Built on top of Ethereum, Polygon helps with strenuous network tasks to improve the behemoth blockchain’s efficiency and sustainability. For this reason, Polygon is known as what’s called a layer 2 solution, competing with other blockchains, such as Loopring, OMG Network and Bancor, that provide a similar service.
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Polygon relies on a proof of stake consensus to verify transactions and maintain governance and uses its native token, MATIC, to do this. Because of its low fees and high transaction speeds, Polygon remains a front runner in the Layer 2 solutions space, with MATIC being one of the most heavily traded coins in the crypto market.
Find out more about the Polygon network and its use cases, plus how to buy Polygon from reputable brokers in three easy steps here.
3 steps to buy MATIC
Step 1: Sign up to a broker or exchange
Register an account with one of our recommended trading platforms. Like opening a bank account, you’ll need to provide your contact details, proof of address and identification such as a driver's licence or passport.
Use your debit or credit card to fund your account. This is similar to buying anything online with a card, and your money should appear in the exchange reasonably quickly. However, if you choose to make a bank transfer, be aware that this could take a few days to clear.
Step 3: Buy MATIC
With your funds ready to use, search for Matic in your trading platform’s search bar. The name and ticker should appear paired with another crypto, such as BTC or USDT. Choose the trading pair with the lowest fees and select how many tokens you’d like to buy. Remember that most cryptocurrency exchanges are denominated in USD, so be sure to calculate the right amount of MATIC you will get if you use a different currency. Then simply hit the ‘buy’ button.
Where to buy Polygon (MATIC)
MATIC is a popular token and is available on most crypto exchanges. Because of its popularity, it’s worth going with a large, well-known broker with high levels of liquidity. This will save you the stress of incurring hefty fees. Below are some of our recommended trading platforms to buy some Matic.
Most Popular
1
Min Deposit
$100
Promotion
User Score
10
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
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Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong
Why buy MATIC?
The Polygon network brings scalability solutions to the Ethereum blockchain, and users can easily switch between Ethereum and Polygon. On NFT projects such as OpenSea, Polygon provides a cheaper alternative to Ethereum, where gas fees can be exorbitant when there’s too much congestion on the network.
Polygon is a solid project backed by well-known investors such as Sequoia and Softbank. Through acquisitions of zero-knowledge rollup projects and Web3 applications, Polygon continues to expand its reach and bolster the network's sustainability with no signs of slowing down.
In short, If you believe in the future of layer 2 solutions like Polygon and believe that even after the launch of Ethereum 2.0, they will serve a vital function in the Web3 ecosystem, then investing in MATIC could be a good investment.
Where to store your MATIC
You can keep your assets on your cryptocurrency exchange, which many people tend to do. However, for greater security, it's worth transferring your tokens to a non-custodial wallet such as Metamask. Better still, hardware wallets such as the Ledger Nano S provide even more security. Below are some recommended hardware wallets to consider.
You can visit the Polygon network website and connect to the network by signing into your wallet. From there, you’ll be able to bridge tokens between Ethereum and polygon and do activities on decentralised applications (dApps) on Polygon.
MATIC can be used to pay for transaction fees on the Polygon network, can be staked to earn rewards, and can act as governance tokens to vote on network proposals. You can also stake your coins on popular crypto exchanges to earn rewards—yield— or by connecting to the Polygon network and delegating your tokens there.
Polygon is home to a wide range of exciting and innovative dApps. These include Pegaxy, a horse racing and betting game application; Quickswap, a decentralised exchange; and Sunflower Farmers, a play-to-earn game where users can mine, craft, plant, and ultimately build their virtual farm.
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