How to Buy Polygon MATIC Buy Polygon in 6 Simple Steps

BYDFi will send the verification code by SMS; follow the rest of the above steps. If you choose registration via email, input the address and press [Send] to initiate the verification process. After this, BYDFi will send you an email with a six-digit verification code – copy and paste it into the box. You should always check with the product provider to ensure that information provided is the most up to date.

How to buy other crypto assets

Please be aware that the fee schedule may differ depending on the payment method selected and your geographical location. Some cryptocurrency exchanges will store your crypto, such as WazirX and Binance India. However, using an exchange for your cryptocurrency shouldn’t be a long-term solution due to security concerns. You can buy MATIC via most crypto exchanges using a third-party crypto exchange platform like BYDFi.

What investors can purchase with MATIC

Choose the right MATIC pair and ensure you check liquidity before you proceed with your purchase. Polygon is designed to scale the Ethereum network and improve its functionality. And it has become popular among decentralized finance platforms, with a strong, rich DeFi and non-fungible token (NFT) ecosystem.

How to Buy Polygon (MATIC)

The platform delivers amazing outcome, which can be profitable and promising for investors. Don’t forget to learn where and how to buy Polygon (MATIC) as the main entrance to the platform. Find a crypto exchange which allow pairing MATIC with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency. Several US-based platforms offer Polygon, and you can purchase MATIC through many international exchanges. As for storage, BYDFi securely stores your crypto portfolio in offline devices called cold wallets. However, you can manage security yourself and use a crypto wallet of your own.

The network also claims that it can handle thousands of transactions per second (TPS) – which is pretty quick in comparison to Ethereum’s TPS of around 15. But some investors see that as an opportunity, especially because Polygon is still one of the top cryptocurrencies based on its market capitalisation of $4.6 billion (£3.62 billion). Investors may find the following information on Polygon useful to know. First, we provide paid placements to advertisers to present their offers. The payments we receive for those placements affects how and where advertisers’ offers appear on the site.

Once you are registered to any of the above, find the BTC/MATIC or ETH/MATIC trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum. With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service.

Although some exchanges are designed to be fairly simple, others are intended for more advanced investors, offering features like crypto staking, margin accounts and futures trading. Both centralized and decentralized exchanges typically allow payments using a bank transfer and, sometimes, a credit card. In addition, some exchanges accept mobile-friendly payment methods like Apple https://forexbitcoin.info/ Pay or PayPal. MATIC, the native token of Polygon, plays a central and multifaceted role in the platform’s ecosystem. It is not just a digital currency but also a key component that underpins the functioning and governance of the Polygon network. MATIC is used to pay for transaction fees on the network, which are significantly lower compared to those on the Ethereum mainnet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

Polygon is a Layer 2 scaling solution for the Ethereum blockchain that allows users to transact quicker and more cheaply than on the Ethereum mainnet. Polygon has a complete ecoystem of DeFi and NFTs that take advantage of the Ethereum blockchain while improving transaction times and lowering gas fees for participants. Yes, Polygon (MATIC) is available on WazirX, an Indian crypto exchange. Like WazirX, MATIC is available on other Indian crypto exchanges like CoinSwitch and CoinDCX.

If you open an account and connect it to a funding source—such as a bank account or debit card—you can place your first order for Polygon. Enter Polygon’s ticker symbol—MATIC— and the amount you want to invest, such as INR 5,000. You can basically use debit card, credit card, or even PayPal to buy the Polygon (or any other cryptocurrencies). It’s not like you pay with cash and you get the Polygon as the exchange. You can buy MATIC, the native token of Polygon, using a regulated cryptocurrency exchange platform, such as BYDFi.

While MetaMask is the most accessible polygon wallet and one of the better-known options, you can also rely on software polygon wallet options like Wirex, Zengo, and more. Or, you can go for standard hot wallets like Crypto.com’s DeFi wallet, Rainbow wallet, and more. Of course, using a hardware wallet, such as Ledger or Trezor, is the most secure option. Enter Polygon’s ticker symbol—MATIC— and the amount you want to invest, such as $50. Fees are dynamically determined in real-time by our affiliated fiat gateway partners. We’ve teamed up with a variety of third-party payment services to offer you a diverse array of convenient choices.

Polygon creates a multi-chain ecosystem, known as a sidechain ecosystem, and also uses the plasma framework, processing Ethereum-centric transactions on the sidechains. Platforms that voluntarily publish proof of reserves, segregate assets, provide advanced account security, and acquire licenses for operations score top marks. Features tend to provide a better user experience, and product diversity sets platforms apart. To check the MATIC price in the Trust Wallet app, simply open it and view the price from the main wallet page. Alternatively, you can also search for the MATIC asset and tap on the chart symbol to view more detailed information on the MATIC price.

  1. The platform delivers amazing outcome, which can be profitable and promising for investors.
  2. If you plan on buying a lot of MATIC you may want to keep it in a wallet you control, not an exchange.
  3. You will have to go through an online cryptocurrency brokerage like BYDFi.
  4. One reason is because credit card transaction fees on crypto exchanges often run high.
  5. Should you decide to invest in cryptocurrency or in any other investment, you should always obtain appropriate financial advice and only invest what you can afford to lose.

He reached the feat when the price of the MATIC token appreciated. Nailwal is a part of the founding team that also includes Jaynti Kanani and Anurag Arjun. Polygon also compares with other layer-2 blockchains, including Optimism — with the latter only focusing on Optimistic rollups, whereas the former brings the entire suite. Now that we have looked at the technical elements of Polygon, let us understand how it competes against other layer-2 blockchain solutions. Another cool thing about Polygon is its ability to bridge assets from Ethereum.

Your wallet should give you instructions on protecting against this. Be sure to follow them carefully – in most cases, no one can help you if you lose access to your wallet. Polygon is not the only proof-of-stake technology advertising scalability as its primary advantage. Solana, for example, also touts high speeds and low cost and, as of July 2022, has a market cap nearly double that of Matic. There is a growing number of charities that accept donations in MATIC (Polygon MATIC) and other cryptocurrency. Sandeep Nailwal, one of the Polygon Co-Founders, is India’s first crypto billionaire.

Either way, you should contain or eliminate potential access points to your digital property. Initiated as a quick sidechain to Ethereum, Polygon aims to lower costs and increase the speeds of transactions of the mainstream blockchain. Due to being compatible with many popular crypto apps that used to be Ethereum-exclusive, it has managed to carve its path to the top ranks of the market. As with any crypto asset, Polygon is risky and volatile. Individuals should only invest an amount that they are comfortable losing, as cryptocurrencies are risk assets. And it has become popular among decentralised finance platforms, with a strong, rich DeFi architecture and non-fungible token (NFT) ecosystem.

If you would like to learn more, the following video is very helpful, including illustrations to help explain how Polygon works. Read more about how blockchain technology has the potential to support a healthier, fairer, and thriving planet. Join our vibrant community of developers to scale and develop your products while being supported by your peers. US resident opens a new IBKR Pro individual or joint account receives 0.25% rate reduction on margin loans. After you buy Polygon MATIC, you can transfer it to anyone across the globe, as long as you know their Polygon MATIC wallet address. Use your Polygon MATIC (MATIC) to purchase goods and services from any participating merchant that accepts Polygon MATIC.

You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound. To sell MATIC, you should send the wallet-held tokens to a CEX to sell and convert the same to fiat. For standard swaps and cryptocurrency conversions, DEXs can be faster. Exchanges like Binance also offer P2P trading options on MATIC across specific regions.

When you buy MATIC using your Trust Wallet, it’s stored directly in your wallet. There’s no need to transfer your MATIC from one address to another or do anything else – the crypto will be stored safely and automatically. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Polygon. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment. The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment.

There are about 8 billion coins in circulation with a maximum supply of 10 billion. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform. There is no better way to get started with cryptocurrencies than aiming high for the big boys.

NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only.

Matic is the digital token used on Polygon, a protocol built on Ethereum. The organization behind it claims it can process transactions about 467 times faster than Ethereum at a fraction of the cost and that about 2.7 million people use it every month. As of Aug. 1, 2022, Matic was the 13th largest cryptocurrency, with a market cap of $7.2 billion. Basic versions support staking and MATIC transfers, while more advanced wallets offer additional features, including smart contract deployment.

Key examples of MATIC wallets include Wirex, YouHodler, Uphold, ZenGo, and Coinbase Wallet, each offering a range of functionalities to suit different user needs. While no transaction within decentralized ecosystems is risk-free, the above options all represent established players in web3. MATIC wallets are important ecosystem components, especially if you have plans to buy polygon and hold it long-term.

Transfer times will depend on your preferred payment method. As for BYDFi’s part, the transaction is complete within 2-10 minutes. Find and choose MATIC as the receiving token and index trading strategy select the fiat currency you want to purchase it with. In addition to the proof-of-stake consensus mechanism, Polygon uses an architecture popularized by Cosmos, called Heimdall.

Polygon functions to transform Ethereum into multi-chain and full-fledged system (like Internet of Blockchains). This chain is close to other chains, like Avalanche, Cosmos, Polkadot, and others, while taking advantages of Ethereum’s openness, vibrant ecosystem, and security. Polygon is a powerful and full fledge multi-chain system with Ethereum backbone and main structure. Through the platform’s mission expansion, the platform migrated from the previously known as Matic Network to Polygon. The platform is claimed as the first environment for Ethereum infrastructure and scaling development that isn’t only well-structured, but also easy to use.

While investors may purchase MATIC with a credit card, it is generally considered unwise to rely on credit to buy cryptocurrency. One reason is because credit card transaction fees on crypto exchanges often run high. If an investor uses a credit card to buy cryptocurrency, it generally will count as a cash advance and be subject to a higher interest rate than charged on regular transactions. While you may purchase MATIC with a credit card, we strenuously advise against it. That’s because credit card transaction fees on crypto exchanges often run high. If you use a credit card to buy cryptocurrency, it generally will count as a cash advance and be subject to a higher interest rate than you pay on regular charges.

While the cryptocurrency markets are well on it’s way to becoming mainstream, there are still many known and unknown risks. Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Nonetheless, Polygon is designed to reduce costs and complexities and to improve the speed of transactions on Ethereum.

The Forbes Advisor editorial team is independent and objective. Developers of decentralized applications on the Ethereum network have been searching for alternatives to continue their projects growth. After tapping buy, you’ll have the option to choose whether you want to place a one-time purchase or a recurring buy. If you select a recurring buy you’ll have the option to choose between daily, weekly, twice monthly, or monthly purchases. MATIC is available on many of the leading centralized and decentralized exchanges around the world.

The BYDFi platform will show the fees, costs, and number of Polygon altcoins you get once you confirm the order and execute the transaction. Whether it makes sense to invest in MATIC may be dependent on an investor’s finances, goals and overall investment portfolio. This dual-consensus architecture allows for decentralization with a high transaction throughput, resulting in scalability of the network. Internal test networks have seen up to 7,000 transactions per second (TPS) on a single sidechain, which dwarfs the current throughput of the Ethernet mainnet of 14 TPS.

Trust Wallet accommodates multiple payment options, such as credit/debit cards and bank transfers, to name a few. The specific methods available to you are subject to your location and the payment provider you opt for. They are less secure than hard wallets, but you can easily access your holdings to buy and sell other cryptocurrencies. With a paper wallet, you can write down the keys or use an app to get a printed QR code to access your cryptocurrency. But paper wallets can be risky—if you lose the paper, you won’t be able to access your cryptocurrency.

At peak usage, token swaps on decentralized exchanges like Uniswap ballooned to the equivalent of over $1000 for a single transaction. A far cry from what retail traders have become accustomed to with zero commission brokers. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Polygon.

  • July 14, 2023
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