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How To Buy Polygon (MATIC)?

Polygon 500x286 1 - How To Buy Polygon

A common question you often see on social media from crypto beginners is “Where can I buy Polygon?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Polygon on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Polygon (MATIC)

First, you will need to open an account on a cryptocurrency exchange that supports Polygon (MATIC).
We recommend the following based on functionality, reputation, security, support and fees:

1

 Binance

Create Binance Account - How To Buy Polygon

Fees (Maker/Taker)            0.075%*-0.1%*

Cryptocurrencies
Available for Trade                             500
+

Sign-up bonus
 10% reduced trading fees*

Available in
Europe, Asia, Oceania, Africa

2

 Coinbase

Create Coinbase Account - How To Buy Polygon

Fees (Maker/Taker)             1.49%*-3.99%*

Cryptocurrencies
Available for Trade                              75
+

Sign-up bonus
 $10 sign-up bonus*

Available in
North America, South America, Europe, Asia, Oceania, Africa

3

 FTX US

Create FTX US Account

Fees (Maker/Taker)            0.10%*-0.40%*

Cryptocurrencies
Available for Trade                             45
+

Sign-up bonus
 5% reduced trading fees*

Available in
North America, South America, Europe, Asia, Oceania, Africa

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Polygon (MATIC) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Polygon (MATIC)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Polygon (MATIC) or Polygon (MATIC) trading pairs. Look for the section that will allow you to buy Polygon (MATIC), and enter the amount of the cryptocurrency that you want to spend for Polygon (MATIC) or the amount of fiat currency that you want to spend towards buying Polygon (MATIC). The exchange will then calculate the equivalent amount of Polygon (MATIC) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Polygon (MATIC) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Polygon (MATIC)?

Polygon is a framework for creating Ethereum-compatible blockchain networks and scaling solutions. Polygon is more of a protocol than a single solution. This is why one of the main offerings of the ecosystem is the Polygon SDK, which allows developers to create these Ethereum-compatible networks.

Still, you may have heard about the Polygon Network, a Proof of Stake (PoS) sidechain and one of the first live products in the Polygon ecosystem. A sidechain is essentially a parallel chain that’s connected to another blockchain.

Sidechains can offer several benefits – most notably, increased transaction throughput and low fees. If you’ve used the Polygon Network, you’ll know that it’s incredibly fast and very low-cost compared to Ethereum. Even so, there are some trade-offs to be made for this performance. We’ll get into these later.

As Polygon supports the Ethereum Virtual Machine (EVM), existing applications can be ported to it with relative ease. This can give users a comparable experience to Ethereum, only with the previously mentioned high throughput and low fees.

But what can you do as a user on Polygon? Unsurprisingly, similar things as you can on Ethereum, but much cheaper and faster. Some of the most popular DeFi dapps have already been deployed on it, such as Aave, 1inch, Curve, and Sushi. But there are also some native applications on it that don’t exist elsewhere, such as QuickSwap and Slingshot.

Who Are the Founders of Polygon?

Polygon (formerly Matic Network) was launched in October 2017. Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant. Before moving to its network in 2019, the Polygon team was a huge contributor in the Ethereum ecosystem. The team worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum. The team included co-founder of Polygon, Jaynti Kanani. Jaynti, a full-stack developer and blockchain engineer currently serves as the CEO of Polygon.

Jaynti played an integral role in implementing Web3, Plasma and the WalletConnect protocol on Ethereum. Prior to his blockchain involvement, Jaynti worked as a data scientist with Housing.com.

Co-founder and chief operations officer of Polygon, Sandeep Nailwal is a blockchain programmer and entrepreneur. Before jointly starting Polygon (formerly Matic), Sandeep had served as the CEO of Scopeweaver, and the chief technical officer of Welspun Group.

Anurag Arjun is the only non-programming co-founder of Polygon. As a product manager, he has had stints with IRIS Business, SNL Financial, Dexter Consultancy and Cognizant Technologies.

How does Polygon work?

The Polygon framework supports two major types of Ethereum-compatible networks: secured chains and stand-alone chains. An example for a secured chain is a rollup, while an example for a stand-alone chain is a sidechain.

Secured chains rely on the infrastructure of the chain they are attached to, so they don’t have to adopt their own security model. In contrast, stand-alone chains have to take care of their own security. This means that secured chains tend to offer a higher level of security, while stand-alone chains offer more flexibility for specific needs.

So, what about the Polygon Network? The Polygon sidechain is secured by its own set of validators (validator pool), and it has to submit checkpoints to Ethereum from time to time. This is why some people say that sidechains are not a “pure” Layer 2 solution. They have to take care of their own security instead of leveraging Ethereum’s security. This can be a crucial distinction, and we’ll get into it in a bit more detail later when discussing rollups.

In the future, the Polygon platform aims to support a wider variety of scaling solutions, including zero-knowledge (zk) rollups, optimistic rollups, and Validum chains. Once more of these scaling solutions are available, developers will have more tools to develop innovative applications, solutions, and products. Also, we can expect all of these to be compatible with existing Ethereum tools and wallets, such as MetaMask.

Polygon Bridge

The Polygon Bridge is the most convenient way to bring your funds from another blockchain network to the Polygon sidechain. Note that you’ll still have to pay mainnet transaction fees since the bridging transaction is on the mainnet.

Once it’s complete, however, you can enjoy the low fees and fast transactions that Polygon has to offer. Otherwise, some centralized exchanges (CEX) also offer direct withdrawal to the Polygon Network.

Official website: https://polygon.technology/

Market Overview

Coinmarketcap.com

Find the latest Polygon (MATIC) price chart, trade volume, market cap, and other vital information to help you with your cryptocurrency trading and investing.

Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:

Market Capitalization And Daily Trading Volume

Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)

Circulating And Total Supply

Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).

CMC - How To Buy Polygon

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