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Top Cryptocurrencies Of 2023 [10. Polygon (MATIC)]


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Founded in 2017, Polygon—formerly known as Matic Network—is a relatively popular crypto. It’s dubbed “Ethereum’s internet of blockchains.” Maybe that’s why MATIC supports more than 7,000 decentralized applications (dApps).

 

Polygon has also experienced tremendous growth since its first launch. The initial price of MATIC when it first launched was $0.00263. Today MATIC trades at $1.24, a 46,873% gain.

 

Market cap: $10.8 billion

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What Is MATIC?

MATIC is Polygon’s native cryptocurrency. It is an ERC-20 token, a token created on the Ethereum blockchain.

This token is used to govern and secure the Polygon network and pay the network’s transaction fees.

Unlike some other cryptocurrencies with unlimited supply, the supply for MATIC is limited, with about $7.4 billion in circulation. There will never be more than 10 billion coins in circulation.

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How to Buy Polygon (MATIC)

You can buy MATIC on cryptocurrency exchanges, such as Coinbase or Gemini, similar to how you can buy many other popular cryptocurrencies.

 

If you don’t have an account yet, you’ll need to sign up and verify your identity to get started.

 

After creating an account, you may then be able to buy MATIC with a bank transfer, wire, debit card or credit card. You can also purchase MATIC with U.S. dollars or other fiat currencies on cryptocurrency exchanges like Coinbase, Kraken and Crypto.com, to name a few.

 

Some cryptocurrency exchanges also offer staking services, allowing you to earn interest on your MATIC while keeping your tokens at the exchange.

 

You can also buy MATIC on decentralized exchanges, such as Uniswap.

 

Depending on the crypto wallet, you may be able to use a payment processor, called a fiat on-ramp, to purchase MATIC directly. Or, you may have to purchase a different token and then pay a fee to swap it with MATIC.

 

If you want to get MATIC on the Polygon Mainnet, you can use the official Polygon Bridge for depositing and withdrawing MATIC once you connect an eligible wallet. Some wallets, such as the Crypto.com DeFi Wallet app, also allow you to receive MATIC directly from the Polygon network.

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