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How to safely buy Polygon (MATIC)

Welcome to this guide, where we will see how you can buy Polygon in an easy, safe and simple way. To do this, we are going to use the world’s #1 Exchange, Binance, and now we will see the step by step in detail.

Matic Network has recently changed its name to polygon, so you will probably find it under this name right now. Although they have continued to maintain their MATIC acronym. 

As an alternative to ethereum, with lower fees and great usability, we already see more and more projects on this network. If you want to know how to buy and sell this cryptocurrency, stay until the end.

Also, once we have seen the guide, you can find more information about the MATIC project and frequently asked questions that users usually have. In order to solve any doubt before buying the cryptocurrency, and you can have as much information as possible.

Where to buy Polygon

In order to buy this cryptocurrency, there are many current platforms that have this token listed. In this case, we will use Binance, as it is the most used exchange and the one we consider to be the best. In case you use another platform, you can create the account below, or below you can find a list with the different platforms where you can also buy MATIC.

Now, I leave you with a video where you can see the step by step and all the details to get this cryptocurrency. Although if you are more of a reader, you can find after the video the detailed guide.

Platform: Binance
Min. Deposit: $10
License: Cysec

Very low commissions
Exchange with more Cryptocurrencies

5/5

Step by Step

The first step is to log in to your Binance account. In case you don’t have an account, create one with the link above. 

Once logged in, we will need to deposit funds into our account in order to start buying. We will be able to deposit by bank transfer, or debit/credit card. With a commission of 1.8%, but we will have the deposit instantly. Or by wire transfer with a fixed commission, and it will take several days to have the deposit to use. 

I recommend you always use the card to avoid having to wait to use the funds. 

 

With your first deposit, you will see that you have your currency in your balance. And we will have to exchange our currency for USDT. Since USDT will serve us to buy any other cryptocurrency, including MATIC.

So we will go up in markets, and we will look for the pair of our currency with USDT. In my case it is EUR/USDT, but if you have another currency, look for your currency with respect to USDT. For example, GBP/USDT, USD/USDT, etc.

Once you have clicked on the pair, we will go down to the center, in the buy and sell panel. And here we will have to change our currency to USDT, going to the sell part. In my case Sell EUR to get USDT. So we will indicate at the top right of the market, the amount you want to change your currency and click on Sell EUR or your currency. 

This way, we will already have USDT in our balance. You can go to the main panel to check it. 

Once we have USDT, we will have to go back to markets, but now we will look for MATIC. And the MATIC/USDT pair. Once you find it, click on it. 

Here, we will see again the same buy and sell panel as before, but in this case with USDT and MATIC. In this case, we will have to go to the buy side, in green color, to exchange our USDT for MATIC.

As we have done before, we indicate to the market at the top right, the amount we want to buy, you can use the bar below to indicate a specific %. And with this ready, we click on Buy MATIC. 

Now if we go to the main panel, you will be able to see your Polygon (MATIC) in your balance. This way, you have already got this token, in a quick and easy way. Although it may seem like several steps, once you do it, you will see how quick and simple it becomes. 

With the steps we have seen, you can have your MATICs in just a few minutes. And with them, you can now store them in your balance, withdraw them to a wallet for safety, or wait for them to rise in price to sell them whenever you want.

Now, with your Polygon (MATIC), if you want to get the most out of them, you can staking with them. And you can find all the staking opportunities in this Polygon (MATIC) staking guide. 

Learn how to withdraw Polygon to your wallet to keep your cryptocurrencies safer in this guide here.

To conclude, let’s summarize in a simpler way all the steps we have seen as a summary: 

  • Create your Binance account or login if you already have one.
  • Deposit funds into your account (It is recommended to use a credit card to avoid waiting).
  • We will use the deposited currency to get USDT (in this example, the EUR/USDT pair)
  • We go back to the markets and look for MATIC, where we will find the MATIC/USDT pair.
  • We will go down and buy the amount you want by clicking on BUY MATIC. Indicating the market and the amount we want to buy. 
  • It’s time to enjoy your new cryptocurrency.

Platform: Binance
Min. Deposit: $10
License: Cysec

Very low commissions
Exchange with more Cryptocurrencies

5/5

FAQS

We have already seen how to buy MATIC with Binance, but there are also other places to get this token. In case you already have an account or prefer to use another platform, this list can be of great help. To find out where you can buy MATIC, it’s as simple as going to coinmarketcap or coingecko. Here, search for the cryptocurrency, in this case MATIC. And once there, click on markets. 

Thus, you can see the entire list of platforms where it is available in real time.  In order not to waste your time, you can see the main platforms in the image below. 

Unfortunately, this option does not currently exist. Since there is no exchange or platform to buy and sell cryptocurrency that allows deposit with PayPal. 

The only platform we have been able to find is eToro, but it does not have MATIC listed yet. So we will have to wait until it is listed on this platform to be able to buy using PayPal. 

Although keep in mind that eToro does not allow withdrawals or deposits of cryptocurrencies. Since really when you buy, you are buying an etf that tracks the price of the cryptocurrency, but you do not really have the cryptocurrency to withdraw it as happens on other platforms such as Binance. 

In order to sell Polygon (MATIC), you will see that it is not complicated at all. You will only have to do the same steps that you already did when buying, but with the difference of going to the red sell button.

We will look for the MATIC/USDT pair, and click on it once you find it. We go to the center, below and look at the red sell part. We indicate to the market on the top right, the amount you want to sell and exchange for USDT. Click on sell and it will be ready. We will already have the MATIC sold and we will have USDT again.

To withdraw Polygon to your wallet, you can do it with the following steps:

  • Go to wallet and wallet spot 
  • We will search for MATIC and once you find it, click on withdraw.
  • Now you will see the Binance withdrawal panel
  • Open your wallet and we will copy the address. The most used wallet is metamask, where under the name if you click on it the address will be copied.
  • Indicate the correct network where to send the tokens. In case you want to use Polygon on its network, we will indicate Matic’s network.
  • Enter the quantity and check all the information.
  • With everything correct, click on withdraw and confirm with the confirmation codes.
  • Your MATIC will be on its way to your wallet.

In case you still have any doubts, you can visit this more detailed guide on how to withdraw funds from Binance. 

In case you want to withdraw your funds to another platform, for example from Binance to KuCoin, the process is the same as we have seen in the wallet, with one difference.

In the step of opening the wallet to copy the address, in this case we will have to open the platform where we want to send the tokens. Here, click on deposit, and select MATIC. Select the network you want to use to send the cryptocurrency, the most common is to use the Matic network and you will see the address to copy.

With the copied address, go back to Binance and paste it. Indicate the same network as in the other platform. The other steps are the same as we have seen when withdrawing to your wallet.

In case you still have doubts, you can visit this more detailed guide on how to withdraw funds on Binance.

If you want to have your MATICs in the safest possible way, the best way is to have them in a hardware wallet. In my case I used Ledger, and you can buy it here.

Ledger is the most used hardware wallet in the world and it will give you full control of your funds. It avoids the risk that they can hack the platform where you have your tokens, or even hack your computer and have access to your wallet. With a hardware wallet, without the physical object they will not be able to move your funds.

What is Polygon?

Ethereum Network problem

Ethereum is the blockchain development platform of choice, but it has limitations.

  • Poor performance
  • Poor UX (gas, delay in PoW completion).
  • No sovereignty (shared performance/risk of clogging, non-customizable technology stack, governance dependency)
  • Many projects are exploring Ethereum-compatible blockchains as a way to mitigate these limitations while still leveraging Ethereum’s thriving ecosystem. However, there is neither a specialized framework for building such blockchains nor a protocol for connecting them. This introduces significant development challenges and leads to fragmentation of the ecosystem.

Alternative proposed by Polygon/MATIC

Polygon – a protocol and framework for building and connecting Ethereum-compatible blockchain networks.

  • One-click deployment of pre-established blockchain networks
  • Growing set of modules to develop customized networks
  • Interoperability protocol for exchanging arbitrary messages with Ethereum and other blockchain networks.
  • Modular and optional “Security as a Service
  • Adapter modules to enable interoperability with existing blockchain networks

Features

Polygon combines the best of Ethereum and sovereign blockchains into an attractive feature set. Built by developers, for developers.

  • ETH Compatibility: Industry dominance, established technology stack, tools, languages, standards, enterprise adoption
  • Scalability: dedicated blockchains, scalable consensus algorithms, custom Wasm execution environments
  • Security: Modular security “as a service”, provided by Ethereum or by a group of professional validators.
  • Sovereignty: Dedicated performance/resources, fully customizable technology stack, sovereign governance
  • Interoperability: Native support for arbitrary message passing (tokens, contract calls, etc.), bridging to external systems
  • User experience: Comparable to Web2, “out-of-gas” transactions, instantaneous (deterministic) completion of transactions
  • Developer experience: Equivalent to Ethereum, no protocol-level knowledge required, no token deposits, fees or permissions
  • Modularity: High customization, extensibility and upgradability, short time-to-market, community collaboration

Platform: Binance
Min. Deposit: $10
License: Cysec

Very low commissions
Exchange with more Cryptocurrencies

5/5

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