Polygon (MATIC) is the 25th largest cryptocurrency by market cap, valued at US$5,097,348,776.
Polygon is a highly volatile asset capable of major price swings in a single day. Today MATIC is trading for $0.548515 USD, which is lower than yesterday's trading price of $0.5524990151 USD. Over the past year, Polygon's price has seen a decrease of -27%.
So before you buy Polygon, make sure you understand these unique risks as well as its legal and tax status here in Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy Polygon.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade MATIC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
Formerly known as the Matic Network, Polygon can be best described as a decentralised framework that enables the creation of interconnected blockchain networks. The platform looks to iron out many of the throughput and high transaction fee-related issues that the Ethereum network is routinely faced with via the use of several different novel sidechain solutions.
In addition to providing users with a full-fledged scaling platform, Polygon is also designed to facilitate blockchain interoperability-related transactions via modules that are capable of providing developers with certain niche tools which they can use to devise their very own sovereign blockchains.
MATIC is the native cryptocurrency of the Polygon network and is used for a variety of purposes such as providing owners with voting rights in regard to various governance-related issues (especially those related to Polygon Improvement Proposals (PIPs), bolstering the security of the network via staking and facilitating gas fee payments.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Polygon.
Once you've created an account, you will need to deposit funds to buy MATIC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy MATIC:
The easiest way to buy MATIC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying MATIC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Polygon has been performing recently.
You can keep your MATIC on the exchange you purchased it on, or move it to a personal wallet:
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
Compare today's price of Polygon ($0.548515 USD) against its all-time-high price of $2.92 USD on 27 December 2021. The closer the bar is to 100%, the closer MATIC is to reaching its ATH again.
Disclaimer: Cryptocurrencies, including Polygon, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MATIC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Polygon or any other cryptocurrency discussed.
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