With the expansion of the cryptocurrency market, lots of investors are wondering how to buy Polygon (MATIC). This is why we have decided to create a complete guide that will share with you all the details on how to buy Polygon (MATIC).
Another thing that we would like to point out is that we will not only share with you how to buy Polygon (MATIC) but we will also share with you valuable information about this project. For example, we will tell you what Polygon (MATIC) is, how it performed in the cryptocurrency market and why it is an important project to follow.
What is Polygon (MATIC)?
Polygon (MATIC) is one of the largest cryptocurrencies in the world. The Polygon network is considered to be one of the main competitors to Ethereum (ETH). The goal is to offer better and more advanced scaling solutions to the cryptocurrency market.
Let’s not forget that with the expansion of decentralized finance (DeFi) solutions and Non-Fungible tokens (NFTs), the Ethereum network became congested. This has created a situation in which it was difficult to handle payments and interactions on top of Ethereum.
Basically, thanks to Polygon, it is possible for Ethereum to become faster and easier to use without the problems of congestion. This cryptocurrency and blockchain project wants to make it easier for investors to get access to scalable and decentralized solutions that rely on blockchain technology.
In simple words, Polygon combines the best part of Ethereum’s blockchain network into a full-fledged multi-chain ecosystem. In this way, it is possible to reduce high gas fees and make transactions faster. Users would be able to enjoy one of the best experiences they can find in the cryptocurrency market if they have to send and receive payments or interact with different blockchain protocols.
With Polygon, developers are able to build and connect different Ethereum-compatible blockchain networks. In just a few simple steps, users can easily deploy preset blockchain networks, grow and develop custom networks and create interoperability protocols for exchanging arbitrary messages with Ethereum.
At the moment, there are more than 3k decentralized applications that are using Polygon’s Proof of Stake (PoS) network and the number continues to grow. Indeed, over the last few months, a large number of projects decided to move from the Ethereum blockchain network and deploy their solutions on top of Polygon.
The scalability solutions offered by this blockchain network became very important for several blockchain solutions and projects in order to reach a larger number of users and offer better services. In the future, new platforms could be deployed on top of Polygon. This would not only help the entire crypto market expand, but it would also be very important for Ethereum and other blockchain networks to reduce their congestion.
Polygon (MATIC) in the Cryptocurrency Market
Let’s now have a look at Polygon’s performance in the cryptocurrency market. If you want to know how to buy Polygon, then it is very important to see how it performed over the last few years. This would let us understand which could be good moments to enter the market.
As we can see, between 2019 and January 2021, Polygon (MATIC) was traded between $0.10 and $0.25, with some short periods of time breaking out of these price levels. The first year and a half for Polygon were relatively stable compared to other virtual currencies that experienced massive price surges but also large drops over time.
Things got very interesting for MATIC in 2021. Let’s not forget that the entire cryptocurrency industry was moving higher in early 2021 and late 2020. Especially Bitcoin (BTC), which reached an all-time high of over $63,000 in the first half of 2021.
Between January 2021 and April, this virtual currency surged by 300% moving from $0.10 to over $0.40. But this was not all for 2021. Indeed, it was simply the beginning. Things became much more interesting a few months later.
In May, Polygon was able to hit an all-time high of $2.45 per coin. This represents a price increase of over 500% in just a month. This was fast and it represented a very large price increase. At that time, a large number of investors and users started to move to Polygon in order to engage on different DeFi protocols.
Between May and December, a period of accumulation started for MATIC. The price of this virtual currency fell to $0.69 in July (when the market was also moving lower and Bitcoin reached $30,000). But things fastly recovered. From July and until now, Polygon (MATIC) is in a bull trend (ascending channel) that allowed the coin to hit fresh new all-time highs a few days ago.
We now see the virtual currency above $2.60 and a bull market in the crypto industry. After several weeks in which digital assets have been moving lower, the market is now reacting and starting to go higher once again. This could be very positive for Polygon investors and those users that want to buy MATIC for the future.
However, it is very important to know that if you want to know how to buy Polygon, you will have to analyse not only the price but also the fundamentals of this blockchain network. That being said, it is also very important to follow how the entire crypto market moves. It might be difficult for Polygon to move higher if the entire crypto space starts moving lower. Bitcoin plays a key role in terms of defining the trend of the crypto market.
How to Buy Polygon (MATIC)?
It is now time to know how to buy Polygon in just a few simple steps. What you should know is that you can buy this cryptocurrency using a wide range of cryptocurrency exchanges. These are platforms that let users buy and sell virtual currencies.
The next few steps are merely descriptive. Generally speaking, these are the standard steps that you can follow in most crypto exchanges if you want to buy Polygon. There might be some differences across platforms depending on their services.
Step 1- Open a Cryptocurrency Exchange Account
The first thing that you should know about buying Polygon is that you should open a cryptocurrency account. We will tell you the details about which cryptocurrency exchanges you can use to buy Polygon in the next few sections of this article.
This would require you to share with the cryptocurrency exchange an email account and a password. In some cases, if you want to deposit a larger amount of funds, you will have to share a selfie of yourself and a valid ID document. This is in order to be compliant with all the KYC and AML regulations that apply to exchanges.
Searching for a cryptocurrency exchange and creating an account is the first step that you should follow if you want to buy Polygon.
Step 2- Deposit Funds to Your Account
After opening a cryptocurrency exchange account, users should deposit funds to the exchange. This is very important. Without funds, it would be impossible to get access to Polygon. There are different payment methods that you can use in order to deposit funds.
For example, you can deposit funds using EUR, USD and other fiat currencies if the platform supports these currencies. Moreover, you can also use different deposit methods, for example, bank transfers, credit or debit cards and other third-party solutions. This would highly depend on the cryptocurrency exchange and the partnerships that they have with different payment methods.
Step 3- Buy Polygon
Finally, the goal is to buy Polygon. Now that we have funds that have been deposited into our account, we can easily buy MATIC. It would be possible to do so by using the traditional exchange or a simplified buying option. The best thing to do is use the exchange platform, as it has been optimized to provide users with the best possible price.
You can buy Polygon with a market order or with a limit order. Limit orders would let you choose the price at which you want to buy MATIC. Instead, market orders would let you buy MATIC without having to wait for a specific price. Indeed, market orders get executed instantly at the best available price at the time of the execution.
Where to buy Polygon (MATIC)?
Now that you know how to buy Polygon and how this virtual currency is, we need to tell you where you can buy this digital asset. There are different platforms nowadays that will let you buy and sell Polygon.
You can use local exchanges or larger platforms that are operating worldwide. Usually, the best thing is to use those platforms that have been operating in the market for several years and that let investors get access to a wide range of other services.
Some of the exchanges that are already letting users buy Polygon (MATIC) include Binance, OKEx, Coinbase Exchange, KuCoin, FTX, Huobi Global, Uniswap, Gate.io, Kraken, Crypto.com. Bitfinex, and Coinex, among others. The number of exchanges available is large, hence, we are sure that you will find the platform that will meet your needs.
At the time of writing this article, Binance is the cryptocurrency exchange handling the largest trading volume for MATIC in the cryptocurrency market. They are currently managing more than 20% of the total trading volume for this virtual currency around the world. Moreover, Binance has a large number of trading pairs for this digital asset: MATIC/USDT, MATIC/BUSD, MATIC/BTC, MATIC/TRY, MATIC/EUR, MATIC/BNB, MATIC/ETH, MATIC/AUD, MATIC/GBP, MATIC/BIDR, MATIC/BRL and MATIC/RUB.
As you can see, Binance has already added different fiat pairs to its platform. In this way, users can buy Polygon using their local fiat currency such as RUB, BRL, GBP AUD or EUR, among others. It is also worth taking into consideration that Binance is also offering a large number of other services that make the whole crypto experience even better for users. If you wanted to know how to buy Polygon, then Binance could be one of the best platforms.
Binance is already a very important ecosystem in the cryptocurrency market. It has released a virtual currency called Binance Coin (BNB) and it has also been working on its blockchain network called Binance Smart Chain (BSC), one of the largest in the cryptocurrency market right now.
Coinbase is one of the oldest cryptocurrency exchanges in the world. This platform has been operating for several years in the market and it is one of the most popular exchanges for newcomers in the cryptocurrency market. Compared to Binance, this exchange is offering four different trading pairs: MATIC/USD, MATIC/EUR, MATIC/GBP and MATIC/BTC.
At the time of writing, this exchange handled over 7.25% of the total trading volume for this virtual currency in the last 24 hours. This shows that this cryptocurrency exchange is among the largest when it comes to MATIC trading. Additionally, it is also offering many other crypto-related services that would make the whole trading experience even better for users from all around the world.
This cryptocurrency exchange is relatively small compared to the previous ones. However, it has been growing over the last few years as an alternative to the largest exchanges. This platform is offering just one trading pair: MATIC/USDT with a total trading volume of 0.11%.
This exchange has been trying to become an alternative platform by offering different tokens and digital assets to investors. Moreover, after operating for several years, this exchange is now one of the first options besides the largest platforms. Nowadays, Coinex is also offering other solutions such as lending and margin trading, making the whole trading experience even better.
Coinex has also launched a new blockchain network that allows it to work with decentralized finance solutions and offer unique and advanced services to its clients.
Polygon (MATIC) is a fast-growing virtual currency that has been in a bull market since early 2021 and has been attracting a large number of investors from all over the world. Nowadays, there are several users that would like to know how to buy Polygon (MATIC) due to the fast price increase that it experienced in recent months.
There are several virtual currency exchanges that are already available for users that want to buy and sell MATIC. These exchanges would also offer other services, making the whole trading experience even better. Selecting one cryptocurrency exchange or another would highly depend on your needs. Usually, those exchanges with the largest trading volume are those to be taken into consideration.