Polygon (MATIC) is mainly used to create decentralized applications that work well with Ethereum and enjoy its security. It also helps to reduce transfer costs on the Ethereum Blockchain. Faster Payments is a speedy payment method that allows residents of the United Kingdom to send payments in their local currency without incurring any additional exchange charges. Follow the instructions on the screen and confirm your payment. Your purchased cryptocurrency will arrive in your crypto wallet soon. Select the crypto you’d like to purchase, the fiat currency you want to buy crypto with, and your country of residence.
- Either way, you should contain or eliminate potential access points to your digital property.
- Remember to conduct thorough research and choose a reputable exchange that aligns with your requirements.
- Our estimates are based on past market performance, and past performance is not a guarantee of future performance.
- When you carry out any transaction or use an application built on Polygon PoS, you’ll pay a small transaction fee in MATIC tokens to use Polygon PoS.
- Payments with iDEAL are made using the mobile banking app or your own online banking system.
Unlike some other cryptocurrencies with unlimited supply, MATIC is limited, and there will never be more than 10 billion coins in circulation. Recently, a decentralized exchange SushiSwap (SUSHI) has been launched in the Polygon coin project. Polygon also has a decentralized exchange that works only in the MATIC (Polygon) network – QuickSwap. By the end of April, it began showing a trading volume of about $45 million per day, and the growing trend is continuing. Recent Polygon integrations include a long list of financial projects.
Wallet Suite
The Forbes Advisor editorial team is independent and objective. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. 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.
- After sending Ethereum to the shown address, the information on the Exchange page will be renewed automatically.
- There are many crypto tokens in the market, and when investing in one, you need to make sure that other major tokens will not overshadow it.
- Crypto Voucher.io, Bitnovo, CoinGate, and Neosurf are companies that offer this service.
- Keep in mind that bank transfers may take a little longer, and fees may vary.
Cold storage also gives you more control, or custody, of your holdings than hot wallets, where a third-party company technically stores your crypto. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. 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.
How to Buy Polygon (MATIC) with Cash
Many cryptocurrency apps that used to be exclusive to Ethereum can be interacted with in the Polygon blockchain. Its purpose is dual, to relieve the jammed platform of some traffic congestion and provide its own fast lane to the system. Yes, most platforms charge transaction fees for buying cryptocurrencies, including 8 price action secrets every trader should know about MATIC. Although centralized exchanges are user-friendly and provide access to a wide range of coins and tokens, it’s important to note that fees may apply when buying or selling. Polygon’s network builds on the high decentralization and security provided by Ethereum while offering low gas fees and speed.
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Don’t forget to read and check the Terms of Use and Privacy Policy box. Without checking the box you will not be able to continue the exchange. Yes, most platforms allow you to sell your MATIC tokens back for fiat currency. Typically, transactions are processed quickly, and you should receive your MATIC almost instantly after the purchase. However, transaction times can vary based on network congestion.
Chainlink Data Feeds Now Live on Polygon zkEVM, Unlocking the Future of DeFi
If you want a safe and reliable way to buy Polygon (MATIC), Changelly is the way to go. They’re a well-known cryptocurrency exchange that makes it easy to purchase MATIC tokens using different payment methods, such as a debit/credit card, a bank transfer, and more. 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 Pay or PayPal.
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. In a nutshell, Polygon (MATIC) is an Ethereum-based digital asset that fuels the Polygon Network, a scaling solution for Ethereum.
Its network uses Plasma technology to process transactions off-chain before finalizing them on the Ethereum network, which helps achieve a high transaction throughput. Theoretically, Polygon can process 65,536 transactions per second on a single sidechain at near-zero fees. Therefore, before deciding to invest in MATIC tokens, you need to ensure that you can comfortably accommodate the risk that comes with the trade. The volatility of cryptocurrencies comes about because the price of the tokens fluctuates rapidly. The amount that you have sold your MATIC tokens for will be deposited in your exchange account.
Users can stake their MATIC tokens as a way to participate in the network’s consensus process. By staking their tokens, users help to secure the network and, in return, receive rewards in the form of additional MATIC tokens. This staking system incentivizes the holders to contribute to network integrity and stability, thus enhancing the overall security and efficiency of the Polygon blockchain. You can buy a variety of goods and services with MATIC tokens, both offline and online.
Factors, such as the presence of similar projects, market share, partnerships, and community support, can influence investors’ perception of MATIC’s value compared to its rivals. Positive news, partnerships, endorsements, or any other favorable developments can boost market sentiment and potentially increase the current Polygon price. The primary goal of the Polygon network is to increase the adoption of cryptocurrencies and make different networks work together more easily. It does this by improving Ethereum’s transaction fees, speed, and how many transactions it can handle. BPay is an intuitive, secure, and instant way to purchase cryptocurrency.
You can find several crypto exchange platforms online that sell MATIC. The gist of the procedure is now complete; you have confirmed your order and got (or are about to get) the tokens. The purchased MATIC can be held in your BYDFi account or kept in a personal crypto wallet.
