Buy Polygon (MATIC)

Compare Polygon Prices after Fees at Top Exchanges June 22, 2024
Published: June 9, 2023   |   Last Updated: May 4, 2024
Written By:
Eric Huffman
Eric Huffman
Staff Writer
Edited By:
Shannon Ullman
Shannon Ullman
Managing Editor

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How To Buy Polygon (MATIC) In 2024

MATIC is the native coin of the Polygon network.

Step 1: Choose A Wallet

To keep your MATIC in your own wallet, you’ll need a compatible wallet, such as MetaMaskCoinbase wallet, or a Ledger hardware wallet.

Step 2: Choose A Crypto Exchange

MATIC can be purchased either through an exchange, like Coinbase or through a wallet application, like Exodus that supports the Polygon network.

Step 3: Decide On The Amount Of MATIC You Want To Purchase

Fund your account and choose an amount to buy. Most exchanges offer both limit and market orders.

Step 4: Store, Transfer, Or Use Your MATIC

The crypto assets you buy on an exchange are held in a custodial wallet. On certain exchanges, like Coinbase, you can transfer your MATIC to a self-custody wallet like those mentioned in Step 1 above.

Where To Buy Polygon MATIC With Credit Cards

Several popular exchanges offer MATIC.

MATIC Overview

TokenNetworkFoundersKey IndividualsYear FoundedInvestors
MATICPolygonJaynti Kanani
Sandeep Nailwa
Anurag Arjun
Mihailo Bjelic
David Schwartz
Jordi Baylina
Antoni Martin
Hudson Jameson
Mark Cuban
2017 (mainnet launch in 2020)High Naut Capital
Mark Cuban
Kevin O’Leary
Softbank Capital
Makers Fund
Alan Howard
Dragonfly Capital Partners
Alameda Research
Galaxy Digital
Sequoia Capital India and others.

Why Does Anyone Buy Polygon MATIC?

Polygon offers a multifaceted scaling solution for Ethereum, allowing applications to connect to the network in several ways and bringing fast, affordable transactions for users. At launch, the ambitious project was named Matic, later rebranded to Polygon but keeping the MATIC token.

Investors choose MATIC for several reasons.

  • Polygon offers affordable transactions. A smart contract execution that might cost $10, $20, or more on the Ethereum network costs just pennies on the Polygon network.
  • Polygon is Ethereum compatible. Application developers can connect Ethereum-based applications to the Polygon network with minimal changes, saving fees for users and growing their reach.
  • Polygon is fast. With speeds of up to 72,000 transactions per second, Polygon is among the fastest Ethereum alternatives available.
  • MATIC is deflationary. Polygon’s own version of Ethereum’s EIP-1559 upgrade, launched in January 2022, brings better fee transparency and burns MATIC transaction fees, much like Ethereum burns ETH transaction fees.
  • Polygon can pay a yield. Staking MATIC can pay a yield of up to 5% to 7% APY.
  • MATIC is the fuel for the Polygon network. As demand for Polygon-based transactions rises, demand for the MATIC token also increases.
  • MATIC is a top crypto. In its short history, MATIC has become a leading crypto asset, often earning a top-10 ranking by market capitalization.

Is MATIC Being Used?

At the time of this writing (01/2023), MATIC has $834 million in daily trading volume.

  • DeFi: Decentralized finance (DeFi) applications like UniswapAave, and Curve Finance enable users to connect using the Polygon network, saving on transaction fees.
  • Staking: MATIC can be staked on the Ethereum network to earn a yield.
  • NFTs: NFT (non-fungible token) marketplaces like OpenSea and Refinable allow users to buy NFTs using the Polygon network, reducing acquisition costs and speeding transactions.
  • Metaverse projects: The metaverse can get expensive in a hurry on Ethereum if the network gets busy, but leading projects like Decentraland let you connect with Polygon, saving on gas fees when needed for transactions on the platform.
  • Predictions market: Polymarket, a popular decentralized predictions market where users can place bets on the outcome of events, was built using Polygon.

Key Events For MATIC

Discover Similar Tokens

  • Cosmos (ATOM): Sometimes described as the “internet of blockchains,” Cosmos was developed to create interoperability between different blockchains.
  • Avalanche (AVAX): Advertised as the “fastest smart contracts platform,” Avalanche combines speed with affordability and boasts Ethereum compatibility.
  • Polkadot (DOT): Another network designed around interoperability, Polkadot allows Layer 1 blockchains like Ethereum to communicate with other blockchains.
  • Cardano: (ADA): Cardano is a smart-contract network co-founded by Charles Hoskinson, also a co-founder of Ethereum, that offers faster transaction times and lower fees than Ethereum.

Frequently Asked Questions

The maximum supply of MATIC is 10 billion tokens. If MATIC reached $1,000, the market cap would be $1 trillion, or about as much as the entire crypto market cap. A move to $1,000 is unlikely in the foreseeable future.

In 2019, Polygon traded for less than a penny. As of this writing, the MATIC token trades at over $1, with an all-time high of $2.91. The Polygon network sees continued growth and development, which bodes well, but it’s impossible to predict future prices and performance.

Polygon acts as a scaling solution for Ethereum-compatible applications, bringing faster and cheaper transactions.

Solana and Polygon have a similar maximum throughput of around 65,000+ transactions per second, but Solana has a faster block time of just 400 milliseconds.

The Polygon network is developed by Polygon Technology, based in Dubai.

Yes. Kraken lets you use a credit card for MATIC purchases.

Yes.Coinbase offer debit card funding and feature MATIC trading. Coinbase also supports Polygon network withdrawals to another wallet.

Yes. For example, Coinbase allows PayPal deposits which can be used to buy MATIC.

Eric Huffman
Eric Huffman
Staff Writer
Eric Huffman is a staff writer for MilkRoad.com. In addition to crypto and blockchain topics, Eric also writes extensively on insurance and personal finance matters that affect everyday households.
Shannon Ullman
Shannon Ullman
Managing Editor
Managing editor working to make crypto easier to understand. Pairing editorial integrity with crypto curiosity for content that makes readers feel like they finally “get it.”

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