Where to Buy Polygon

by Sandip Das from
Where to Buy Polygon

Read this complete post on where to buy Polygon in 2024, to learn everything you need to know about Polygon (MATIC) investing. Polygon (earlier known as the Matic Network) is one of the leading blockchain platforms addressing the scalability issues plaguing leading blockchains. MATIC is the native token of the Polygon ecosystem. Currently, Polygon (MATIC) is in the top 20 most-valued cryptocurrency with a market capitalization of over $10 billion.

So, what is Polygon?, is it worth investing in Polygon? and most importantly - how to buy Polygon? This Polygon investing guide answers all these Polygon-related questions including Polygon definition and how to buy Polygon crypot. So, let’s start.

1. What is Polygon (MATIC)?

Scalability is a major issue in blockchains. For instance, Bitcoin has a TPS (transactions per second) of only 7. This means the Bitcoin network can process only 7 transactions every second. Bitcoin’s biggest competitor Ethereum has a slightly better TPS of about 15 - 20. Now compare this with payment process giant VISA which can process up to 24,000 transactions a second. This means blockchains need to scale up significantly if they want to integrate with mainstream finance.

There are several methods to scale up blockchains. One of those promising solutions is Layer-2 (L2) blockchains. These L2 blockchains work like bypass roads to handle some of the load of the mainnet (or the Layer 1 blockchain like Bitcoin or Ethereum). Polygon is one of the leading L2 solutions for the Ethereum network. It works as a “sidechain” of the Ethereum blockchain to allow more transactions to take place.

Moreover, the improved scalability because of Polygon helps Ethereum lower its transaction costs. Polygon has the potential to handle up to 65,000 transactions per second, which is a huge improvement over Ethereum’s transaction processing capabilities. Because of high transaction speed and low cost, Polygon can be a game changer in the Decentralized Finance (DeFi) and Decentralized Applications (dApps) space.

Polygon was launched in 2017 as the Matic Network. In 2021, Matic Network rebranded itself as Polygon.

2. What is the MATIC Cryptocurrency? - MATIC Meaning

Every blockchain platform needs a native currency. A native currency helps in exchanging value within the blockchain platform. The native currency of the Polygon blockchain is MATIC which is used to pay fees for using the Polygon network. So, whenever someone uses the Polygon network or a decentralized application built on Polygon, they need to pay some amount of MATIC, which goes to the validators of the transactions.

MATIC is also used for staking to validate transactions and secure the Polygon blockchain. Moroever, MATIC is used as a governance token. This means validators use MATIC to participate in voting and propose changes in the Polygon ecosystem.

MATIC is a deflationary cryptocurrency with a capped maximum supply, and the maximum total supply of MATIC is 10 billion tokens. The first MATIC token was launched in April 2019. MATIC supply is expected to be fully fully vested by April 2025.

Now in 2024 MATIC can be bought and sold like other crypto coins using most leading crypto exchanges. The higher the usage of the Polygon network, the higher will be the demand for MATIC, which will put upward pressure on MATIC’s price.

3. Polygon Review - Is Polygon a Good Investment?

Let’s look at the investing potential of the MATIC cryptocurrency. One of the critical ways you can judge the investing potential of a cryptocurrency is to look at its current demand and market valuation. MATIC’s current market valuation makes it one of the top 20 most valued cryptocurrencies. The high market valuation of the crypto reflects its widespread demand and adoption.

Moroever, if we look at the potential use cases - Polygon is considered one of the game changers because of its scalability. Therefore, a wider adoption by the DeFi and dApps communities and other blockchain users is going to give a major push to MATIC’s price. Considering the increasing mainstream adoption of crypto, Polygon (MATIC) can be an interesting bet for the medium to the long term. However, remember that being an Ethereum sidechain, the value of Polygon is directly linked to that of Ethereum as well.

Despite Polygon's potential, remember that crypto is a high-risk investment option. Therefore, proper risk management is indispensable in crypto investment. There can be unpredictable market developments such as adverse regulatory norms which can be major blows to the larger crypto industry. Moreover, it makes more sense to allocate only a small (5-10%) of your overall investing capital in high-risk assets like crypto. Now, let’s look at how to invest in Polygon.

4. How to Buy Polygon (MATIC)?

Polygon (MATIC) is a cryptocurrency. Therefore, the safest way to buy MATIC in 2024 is to purchase it from a leading crypto exchange. A crypto exchange is a platform on which crypto assets are listed, and they can be bought or sold using different payment options like debit or credit cards and bank transfer.

So, if you want to buy MATIC from a crypto exchange, you have to first register with a crypto exchange to create your account. Leading crypto exchanges have simplified processes to register. You can register within a couple of minutes using your email ID or mobile number.

Also, in most cases, you have to complete KYC (know your customer) verification to start buying MATIC. Remember that it’s crucial not only to select the right crypto, but also the right crypto exchanges to buy Polygon cryptocurrency. Let’s now look at the best crypto exchanges to buy Polygon.

5. Where to buy Polygon Crypto? - The Best Exchanges for MATIC

While choosing a crypto exchange, you need to consider factors such as trading fees, popularity of the exchange, ease of use, no. of other crypto assets, regulatory status, and customer support. Based on these factors, here are the best exchanges to buy Polygon:

Best Exchanges to Buy Polygon

  1. KuCoin: Best suited for its extreme popularity, ease of use, security, and top-notch technology. It also allows you to buy MATIC with a credit card.
  2. Bybit: Low-cost crypto exchange offering a range of top crypto and top-level security.
  3. BTSE: Well-suited for beginners for its low cost and advanced trading platform.

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6. What is the Polygon Wallet?

It’s crucial to know about crypto wallets before you start investing in crypto. Crypto wallets are digital wallets in which the private keys of cryptos are saved. You need to have a safe and secure crypto wallet to protect your cryptocurrencies. Have the best MATIC wallet to keep your MATIC tokens away from scammers. Note that you don’t need different crypto wallets for different cryptocurrencies. Curious to know more about crypto wallets and how they work? Here is our detailed crypto wallet guide for beginners.

7. 7. Where to Buy Polygon: FAQs

7.1 ❓ How to buy Polygon MATIC?

In order to buy Polygon (MATIC) you need to register with a top crypto exchange like KuCoin, Bybit, or BTSE. You need to register and verify KYC with these exchanges to start buying and selling MATIC.

7.2 ❓ What are the best exchanges to buy Polygon?

Some of the top exchanges for MATIC are KuCoin, Bybit, BTSE, and Coinbase. They offer ease of use, best-in-class crypto security, a wide range of crypto tokens, and a superior trading platform.

7.3 ❓ Is Polygon safe to invest?

Polygon is one of the top blockchain platforms offering scalability solutions. Scalability is extremely crucial for the growth of any blockchain ecosystem. This makes Polygon one of the leading investment choices. Moreover, Polygon offers a high level of safety and security. This ‘Where to Buy Polygon’ guide discusses everything you need to know about the Polygon blockchain and MATIC crypto.

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