Where & How to Buy Polygon (MATIC) in 2024 Best Places

MATIC to POL migration happened on September 4th. POL replaced MATIC as the native gas and staking token for the Polygon PoS network.

There’s no better way to get involved in Ethereum and Web3 than with Polygon (MATIC).

Today, we’re teaching you how to buy Polygon (MATIC), a token built on the ETH network.
Start with one of the top crypto exchanges from our list below.

Register then verify your ID.

Deposit funds with either a credit or debit card and proceed to explore purchasing options.

Key Takeaways

• Polygon (MATIC) is based on the Ethereum blockchain and supports dApps
• The best way to purchase MATIC is on a centralized exchange
• The best places to buy include decentralized exchanges and crypto wallets
• Hardware wallets are the best storage option

How to Buy Polygon – Step by Step

We’ve found out that the best way to buy Polygon is on a centralized crypto exchange. 

These are the steps to take:

• Step 1 – Choose a cryptocurrency exchange
• Step 2 – Verify your identity through KYC
• Step 3 – Add a payment method
• Step 4 – Deposit funds
• Step 5 – Start a trade
• Step 6 – Select Polygon
• Step 7 – Enter the amount you want to purchase
• Step 8 – Finalize your transaction

Step 1: Choose a Cryptocurrency Exchange

Consider security, costs, and account minimums and fees when choosing a cryptocurrency exchange.

Look for an exchange that emphasizes your safety.

This includes enforcing strong security measures such as two-factor authentication, cold storage for most assets, and frequent security audits.

Most established centralized exchanges use all these and more security measures to ensure the safety of your identity and funds.

Now, it’s time to compare the fees. Each exchange has a set of fees that serve to keep the exchange operational.

That’s one of the reasons you usually can’t buy crypto anonymously.

The usual fees include:

• Deposit/withdrawal fees
• Trading fees
• Spread
• Maker and taker fees, etc

Finally, compare account limitations. In some cases, an exchange will put a limit on your deposits or withdrawals if you don’t verify your identity.

It may also lock certain features, and this could affect your investing strategy.

Step 2: Verify Your Identity Through KYC

Once you open an account, you’ll need to verify your identity. For this, you’ll need your smartphone, a valid government-issued ID, and proof of address. 

Verifying your ID may take more than a few minutes, depending on several factors.

Sometimes, it may take a couple of days, if the exchange checks your ID manually.

This verification method complies with the Securities and Exchange Commission’s (SEC) and Know Your Customer (KYC) regulations.

It serves to deter fraud, money laundering, and other illicit financial activities. This usually means the exchange is super safe to use, as it verifies all its users.

If you use Canadian crypto exchanges or exchanges in the UK, keep in mind that other regulatory bodies may require slightly different or additional ID checks.

Also, KYC assists financial institutions in establishing client trust and ensuring the integrity of the system.

Step 3: Add a Payment Method

Once you register and verify your identity, you’ll get full access to your account features. This means you’ll have all sorts of deposit methods available. 

Locate the deposit/payment method section.

Tap the payment method button to link your payment method. Follow the instructions and steps to link it.

Sometimes, depending on how you deposit funds, the exchange may deduct a small amount from your account to verify its validity.
You may get an SMS or other transaction confirmation with the name of the exchange and the amount spent.
This means your deposit method is verified and will work on the platform.

To buy MATIC, you can use the following options:

• Bank account – Good for large or small investments. Transfers usually take 3-5 business days
• Debit card – Designed for small investments and quick deposits. It processes transactions immediately
• PayPal – Suitable for minor investments and quick cashouts, with transactions processed instantly
• Apple Pay – Advisable for moderate investments and fast cashouts. It has instant processing for smooth transactions
• Google Pay – Designed for moderate investments and quick cashouts, also with immediate handling to accelerate transactions

Step 4 – Deposit Funds

To buy MATIC, you need to deposit fiat currency into your account first. Begin by clicking on “Deposit Funds.”

Select one of the methods you added in the previous step.
Enter the amount you wish to deposit, review the numbers, and confirm transactions.

Step 5 – Start a Trade

Depending on the crypto exchange you’ve chosen, and the browser you have, you might see different options for purchases. There’s usually a “buy & sell” section or an “instant buy” feature on the exchange. 

The “buy and sell” will take you to a trading section of the platform where you can set the order – stop, limit, market.

If you’re using the mobile app, the interface will slightly differ for each exchange. Look for “buy” “trade” or “swap” sections.

Step 6 – Select Polygon

If you’re on a web browser, start by clicking on the “buy” panel and then search for Polygon.

On most mobile apps, you’ll likely need to type “Polygon” into the search bar to find MATIC.

Once you see Polygon in the search results, tap on it. This will open the purchase screen for your transaction.

Step 7 – Enter the Amount You Want to Purchase

Input the amount you want to spend in your desired currency.
The system will convert it into a Polygon amount, so you’ll instantly see how many coins you’re getting.

Step 8 – Finalize Your Transaction

To complete your purchase of MATIC, tap on “preview buy” or a similar button. This will display the details of your purchase.

Review the info and numbers. When you’re satisfied, confirm your purchase by clicking “buy now.”

After your order is processed, you will be directed to the confirmation screen.

Congratulations, you have purchased Polygon!

Where to Buy MATIC – Best Places

You have several options where you can buy Polygon crypto, including:

• Centralized crypto exchanges
• Crypto wallets
• Peer-to-peer platforms
• Cryptocurrency ATMs
• Decentralized exchanges
• OTC markets
• Token swap sites

Each option offers its own set of features and benefits. Explore these platforms to find the best fit for your needs!

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

1. Centralized Crypto Exchanges – Recommended Method

Centralized cryptocurrency exchanges (CEXs) serve as digital platforms for transactions between buyers and sellers of digital assets.

CEXs follow a conventional approach, managing users’ cash, matching buy and sell orders, and overseeing the exchange of digital assets. 

Users interact with CEXs by creating accounts, depositing funds, placing orders, and entrusting the exchange to execute them.

Here are some pros and cons to consider:

Pros and Cons of Centralized Crypto Exchanges

2. Crypto Wallets

Cryptocurrency wallets store both public and private keys, as well as facilitate transactions across the blockchain network.

To purchase MATIC using a crypto wallet, you’ll first need to select a compatible wallet that supports Polygon. Then, either create a new account or access a current one.

If you need to make a new wallet, note down your secure passphrase and the passwords you used. These will help you restore your wallet if you lose a device or accidentally delete the app.

Know that without these, you won’t be able to access your Polygon. Store the passphrases and passwords in a secure space – write them down in a notebook or send them to your email.

Next, link your wallet to a payment system. This could be a bank account, credit/debit card, or other supported option.

Each wallet is slightly different, so just follow the instructions on the screen. Based on our Crypto.com review, it’s one of the simplest wallets to start with.

After linking your payment method, select Polygon and enter your purchase amount.

Once you confirm the transaction and complete any necessary identity verification requirements, your purchase will be finished.

3. Peer-to-Peer (P2P) Platforms

Peer-to-peer (P2P) platforms connect buyers and sellers by matching their price preferences and assuring transaction security to prevent fraudulent activity.

This type of trading is popular in countries with strict cryptocurrency rules, such as India and the Philippines.

Traders use the P2P approach for crypto transactions to exchange digital assets without using intermediaries like centralized exchanges.

4. Cryptocurrency ATMs

A crypto ATM allows anyone to buy or trade cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and Tether. It accepts payment with either cash or cryptocurrency wallets.

Besides, it provides a straightforward and accessible way for individuals to engage in crypto transactions. This method doesn’t rely on online exchanges or trading platforms.

However, these ATMs do not support direct sales of Polygon. To purchase MATIC, go to a nearby crypto ATM that accepts Ethereum transactions.

Then, generate your Ethereum wallet address on the exchange, purchase ETH, and send it to an exchange.

Swap your Ethereum for Polygon using the ETH/MATIC trading pair.

After completing the purchase order, move the Polygon to a secured private wallet.

5. Decentralized Exchanges (DEXs)

Decentralized cryptocurrency exchanges (DEXs) are digital platforms that allow direct peer-to-peer trading of digital assets without the need for middlemen. 

Unlike centralized exchanges, DEXs use a decentralized framework where individuals keep ownership over their funds and trading happens directly between network participants.

Also, users utilize smart contracts or decentralized protocols to execute trades, eliminating the necessity for a central authority and automating trading.

6. Over-the-Counter (OTC) Markets

Over-the-counter (OTC) trading desks act as mediators in private transactions between parties.

They maintain confidentiality by skipping public exchange channels. There are two primary types of OTCs: principal and agency. 

Principal desks take the risk by investing their own money to get assets on behalf of buyers.

For example, if you’re a big crypto investor, start by getting a quote for MATIC from a good OTC desk.

Then, choose whether to accept or present a counteroffer that fits your plan.

Once both parties agree, the OTC desk will manage the sale and delivery of MATIC as per the contract.

Agency desks, on the other hand, minimize market risk by not investing their cash in deals.

Instead, they act as intermediaries for buyers and charge a fee for their services.

7. Token Swap Platforms – Instant Crypto Exchanges

Token swap platforms use smart contracts and blockchain technology, allowing users to swap tokens directly and instantly.

This strategy ensures that individuals have complete control over their funds throughout the trading process.

It differs from CEXs and DEXs – users can instantly swap coins from their wallets or trading accounts.

To acquire Polygon, connect your Ethereum-compatible wallet to the platform. Then, head to the trading section to swap your ETH for MATIC.

You can do this with other coins, not just Ethereum.

Enter your preferred quantities and authorize the transaction. Wait for a confirmation. (This takes a few minutes.)

Once confirmed, MATIC tokens will be deposited into your wallet.

Alternative Ways to Buy MATIC

Are you looking for other ways to buy Polygon (MATIC)?

One alternative is PayPal. It is a convenient way to buy crypto, together with credit and debit cards.

PayPal

PayPal does not support MATIC purchases on its platform.

To buy MATIC coin with PayPal, you’ll first need to link your PayPal account to an exchange that accepts PayPal payments, like you would for Cash App.

From there, you can use your deposited funds to buy MATIC.

For more security and control over your funds, withdraw your purchased MATIC coins to your crypto wallet.

Credit/Debit Card

You can buy MATIC with a credit card or debit card through payment processors. First, you’ll need to pick a reputable platform.

Look for established sites, with SSL and other security features. Check on Reddit and crypto forums for the best options.

After creating an account, give your personal information and link your card. Enter details like the card number, expiration date, CVV code, and billing address.

Some platforms might require additional verification steps for security purposes.

Next, select MATIC and specify your desired amount.

Review all transaction details, including fees, before confirming the purchase.

Once processed, your purchased MATIC will appear in your platform wallet.

Consider transferring it to a personal wallet for enhanced security.

Note that credit card transaction fees on cryptocurrency exchanges are often costly, plus your credit card issuer might charge more for crypto transfers.

How to Store MATIC

There are two main ways to store MATIC securely – hot wallets and cold wallets.

Hot Wallets

Hot wallets are digital wallets on your phone or computer. They’re easy to use and let you spend your MATIC quickly.

Software wallets are ideal for trading yet they pose risks due to their constant connection to the internet.

To set it up, you must have to download a trusted wallet or a desktop app.

There’s no need to open an account, but you’ll have to set up your wallet. To do this, follow the steps on the screen.

These usually involve setting up a strong, unique password, and memorizing a secure passphrase.

For this, you’ll be presented with a row of 12 or 24 random words. You’ll have to write them down or screenshot them. Then, the wallet will ask you to retype all or some of them.

This confirms you own the wallet and the funds in it. These words will also serve to restore your wallet.

Be sure to keep your device and wallet software updated.

Also, keep them secure by enabling features like two-factor authentication.

In addition, don’t forget to back up your wallet’s info offline to keep it safe.

Moreover, be careful when using your hot wallet online to avoid scams or hacks. Don’t click on random and suspicious links, even if they come to your mobile phone as an SMS.

Cold Wallets

A cold wallet keeps your MATIC offline. It comes in the form of a USB drive, that you’ll connect to an app.

To set it up, follow the instructions with your device. Those guides will help you create a new wallet and secure your access codes.

Then, transfer your MATIC tokens to the offline device. Keep your cold wallet in a safe place.

Also, make backups of your access codes and store them in different secure spots. Keep in mind to only connect your cold wallet to a trusted computer when you need to.

Besides, always double-check transactions on your device’s screen before confirming.

Storing MATIC in a cold wallet helps protect it from online threats and keeps your assets secure for the long haul.

Cold wallets are perfect for long-term investments and for people who don’t intend to trade daily.

Why Should You Buy MATIC? What is it Good For?

Consider purchasing MATIC due to its versatility and substantial growth potential.

It is the main token of the Polygon network, which offers many benefits.

First, it fuels transactions within the Polygon ecosystem. This makes trades quick and affordable.

Owning this digital asset lets you use many different decentralized apps (dApps) built on Polygon, which are becoming more popular in the decentralized finance (DeFi) industry.

As a MATIC holder, you can also help decide how the Polygon network should operate and take part in its future development.

As more people seek blockchain systems that can grow and collaborate, MATIC becomes important. It stands as a robust system for both building and using dApps.

By investing in MATIC, you position yourself at the forefront of blockchain innovation.

Moreover, you may capitalize on its many uses and growth potential. These include scalability, lower transaction fees, and interoperability with Ethereum. 

These advantages make it an appealing choice for crypto investors.

Furthermore, you’ll enjoy staking rewards and opportunities within the growing DeFi ecosystem.

Community support and ongoing development further enhance its potential.

All this makes MATIC a compelling investment in the crypto world.

Why Trust Us?

With a team of cryptocurrency experts, CryptoManiaks ensures that every piece we publish is packed with clear instructions.

We’ve personally bought MATIC, checked our listed exchanges, and followed the steps we list here, to help you understand how to proceed.

We also conducted thorough research using reliable sources and data to bring you the most up-to-date insights on Polygon developments.

Our writers engaged with the crypto community, encouraging the sharing of ideas and feedback to keep our content relevant and valuable.

Frequently Asked Questions

1. 01.

   Are there any discounts or promotions available for buying MATIC?

   

   Most crypto exchanges don’t offer promotions for crypto purchases. You might find some that get you discounts or 0% fees for deposits, but trading or swapping comes with fees. The best way to find out if there’s any form of discount is to stay involved in official Polygon channels.

2. 02.

   What other cryptocurrencies can I use to purchase MATIC?

   

   You can purchase MATIC with many kinds of cryptocurrencies. Bitcoin and Ethereum are widely used and Ripple (XRP), Litecoin (LTC), and Binance Coin (BNB) are also acceptable options. Check which trading pairs are supported on the exchange you plan to use.

3. 03.

   Are there any restrictions or requirements for buying MATIC?

   

   When buying MATIC, there are no specific restrictions or requirements – you’ll need to be at least 18 years old with proof of address, and a valid ID. Yet, it is important to note that the process may vary depending on the country or region you are in. For some exchanges, you may need to complete a Know Your Customer (KYC) check to stay compliant with the latest Anti-Money laundering regulations.

4. 04.

   Who accepts Matic as payment?

   

   There are over 600 places that accept Polygon today. These include Hostiko (hosting provider), Coinsbee.com (gift card platform), Efilenka (handmade product platform), and similar. Chances are, more places will accept Polygon in the future, leading to an increase in MATIC usage.

5. 05.

   Who can I contact for support with buying Matic?

   

   There’s no official support for any crypto, including MATIC. However, you can always contact the customer support team on a centralized exchange or a wallet you’re using to trade. Decentralized exchanges have limited support, but you may find some that can help you manage.