What is Polygon?
Polygon is formerly known as the MATIC network. It is also called a MATIC token. MATIC token is a decentralized framework that allows the creation of new connected blockchain networks. It is known as an open-source network that enables the developers to create a dedicated blockchain network after combining all the best features from stand-alone blockchains. It has inbuilt features like flexibility, sovereignty, and scalability.
This network has solves the high transaction fee-related issues that the Ethereum network is usually faced; it has solved all the issues. Polygon is designed to provide blockchain interoperability-related transactions via modules that are capable enough to provide niche tools in sovereign blockchains.
The 24-hour trading volume of MATIC is 9,712,030,335 EUR. Currently, it stands in the fourteenth place out of the top 20 cryptocurrencies in terms of market capitalization. The market capitalization of MATIC is recorded at 11,742,076,504 EUR. The total supply of MATIC tokens in the market is 6,145,590,942.
The Founders of Polygon tokens
Polygon is an open-source cryptocurrency that is managed by a decentralized and team of developers. A team of developers has created a successful MATIC network. The co-founders of MATIC tokens are Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Jaynti Kanai is the Chief Executive officer of this network.
The advisory board of MATIC token has so many members including Hudson Jameson, Pete Kin, Anthony Sassano, and Ryan Sean Adams. Pete Kim is the head of engineering at Coinbase. Anthony Sassano is the deal broker at EthHub.
Polygon at glance
- Coin Symbol- MATIC
- Total MATIC Supply- 10,000,000,000
- Circulating MATIC- 6,145,590,942
- Current Price- US $2.07
How does Polygon work?
Polygon network has solved the high transaction fee-related issues that the Ethereum network is usually faced; it has solved all the issues. Polygon is designed to provide blockchain interoperability-related transactions via modules that are capable enough to provide niche tools in sovereign blockchains.
MATIC is the native cryptocurrency of the Polygon network, this cryptocurrency gives voting rights in respect of several governance-related issues including Polygon Improvement Proposals (PIPs). It bolsters the security of the network by initiating hassle-free payments.
Also Read: Cardano Coin Price Prediction in 2021
Where to buy Polygon tokens?
First of all, find out an exchange that supports MATIC tokens. You have to compare between these exchanges and select the one that offers the best deals at lower transaction fees. Check the availability of the cryptocurrencies on the exchange. Both types of exchanges offer the MATIC tokens in exchange for fiat currencies as well as for cryptocurrencies. You can choose the exchange as per your preferences.
Coinbase
Coinbase is the world’s largest cryptocurrency exchange. It is the renowned cryptocurrency exchange of the world that offers almost all the top cryptocurrencies. Here you can buy, sell, or trade in different cryptocurrencies. It has listed 50 cryptocurrencies. It also offers to buy, sell, or trade-in MATIC tokens. It also accepts payments via bank transfer, credit card, debit card, and wire transfer. It supports several fiat currencies including USD, EUR, GBP, CAD, CZK, DKK, MXN, BGN, and many others.
GEMINI
GEMINI is a US-based cryptocurrency exchange, it also comes in the top ten cryptocurrency exchanges of the world. It has listed 40 cryptocurrencies. It also offers to buy, sell, or trade-in MATIC tokens. It also accepts payments via bank transfer. It supports several fiat currencies including USD, EUR, CAD, AUD, GBP, HKD, and SGD.
Crypto.com
Crypto.com is the busiest crypto exchange in the world. It has listed the highest number of cryptocurrencies on its exchange. It has listed 80 cryptocurrencies. It also offers to buy, sell, or trade-in MATIC tokens. It also accepts payments via credit card, cryptocurrency, PayPal, TransferWise, and SEPA. It supports several fiat currencies including USD, EUR, GBP, CAD, NZD, SGD, JPY, ZAR, and many others.
Huobi
Huobi is a digital currency exchange that allows users to easily buy and sell cryptocurrency. It offers more than 190 cryptocurrency pairs. It has listed 219 cryptocurrencies. It also offers to buy, sell, or trade MATIC tokens. It also accepts payments via AdvCash, cryptocurrency, SWIFT, and Wire transfer. It supports several fiat currencies including USD, EUR, GBP, INR, BRL, KHR, CNY, NZD, CAD, and many others.
How to choose a Polygon wallet?
You have to store the tokens in the crypto wallet that supports MATIC tokens as it is not safe to leave the tokens on the exchange. Get a crypto wallet that supports MATIC tokens and transfer them into the account. Crypto wallets are of two types- hardware wallet and software wallet.
The hardware wallet is the wallet that stores the tokens in hardware devices like USB. A hardware wallet can be accessed in offline mode also. These wallets charge some fees for storing the coins. It is the safest wallet.
A software wallet is a wallet that stores the coins in the application. Software wallets are available in mobile apps. It can be accessed in online mode. These wallets are available free of cost.
How to Buy Polygon On Binance Or Other Wallets?
First, choose the exchange that offers the MATIC tokens. Both types of exchanges offer the MATIC tokens in exchange for fiat currencies as well as for cryptocurrencies. You can choose the exchange as per your preferences. These are the common steps that are the same for almost every exchange to buy MATIC tokens-
Open the account on an exchange- The first step is to open the account on the exchange. You have to choose the exchange that offers MATIC tokens. Before choosing compare all the exchanges available. To open the account you have to first sign up for the account where you have to register your email id and also put a strong password for your account. While opening the account you have to provide the name, address, social security number, and photo ID proof.
Deposit the funds in the account- Once the account is opened you can deposit the funds in the account. You can deposit the fiat currency by choosing the payment like bank transfer or through debit or credit card. You can also transfer cryptocurrency Like BTC, ETH, or BCH in your account from your crypto wallet.
Buy Polygon (MATIC) – What are you waiting for? Now you can buy The MATIC tokens easily by opening the trading room. You can buy the tokens via fiat money as well as you can exchange the MATIC tokens by existing cryptocurrencies. Once the transaction is completed the tokens will be reflected in your balances, you can check it out.
Transfer the tokens to the wallet- Once the tokens are reflected in balances you have to transfer the tokens in the crypto wallet that supports MATIC tokens as it is not safe to leave the tokens on the exchange. Get a crypto wallet that supports MATIC tokens and transfer them into the account.
How to sell Polygon?
If you are holding the MATIC tokens in the exchange wallet then you can easily sell the tokens by navigating the interface and choose the preferred payment option. Suppose you are holding the tokens on the Kriptomat exchange wallet then you can easily sell the tokens by opening the trading room and select the option to sell the tokens and choose the payment options from the supported list. The transaction will be executed and the tokens will be transferred from your account.
You can sell the MATIC tokens on the exchange on the same exchange where you bought them-
- Sign in to the exchange- First, you have to sign in on the exchange where you buy it. If you are keeping the MATIC tokens in your wallet then you can compare the exchanges that offer the highest rates.
- Place the order- Put the amount of MATIC you like to sell.
- Complete the transaction- Confirm the selling price and fees and click on the sale of Polygon. The transaction will be executed.
Polygon Price
The price of this cryptocurrency can be influenced by several factors-
- Inflows and outflows of the currency in the market
- Sentiments of the investors
- Technical development in the market
- Fundamental growth
- The news cycle
- The general economic environment
The prices of MATIC tokens are also affected by the demand of the investors who are using this network and also want to participate in it.
The prices of MATIC tokens are decided by the cumulative sale and purchase of millions of buyers worldwide. Users should keep updated with the price changes in the market. You should remain updated with market development by actively involved in this. Though exchange also updates the latest price action you should not solely depend on these sites.
The current MATIC price is 1.937054 EUR.
The 24-hour trading volume of MATIC is 9,712,030,335 EUR. Currently, it stands in the fourteenth place out of the top 20 cryptocurrencies in terms of market capitalization. The market capitalization of MATIC is recorded at 11,742,076,504 EUR. The total supply of MATIC tokens in the market is 6,145,590,942.
What is the expected TPS (Transaction per Second) of a side-chain?
A single side-chain has an average capacity of over 65,000 transactions per second. It can do more than that also.
Where do staked tokens deploy?
Staked tokens are located in smart contracts that are deployed on the Ethereum blockchain. Validators who operate on the Ethereum blockchain do not hold the actual custody of the tokens while they can trade over it without owning it.
How many MATIC coins are in circulation?
The 24-hour trading volume of MATIC is 9,712,030,335 EUR. The market capitalization of MATIC is recorded at 11,742,076,504 EUR. The total supply of MATIC tokens in the market is 6,145,590,942.
