If you’re looking to buy MATIC in 2022 you’re not alone. Polygon, a layer 2 protocol, is evolving as a new network solution, with investors wanting to buy Polygon crypto and add it to their main portfolio.

In this guide we’ll help you understand the Polygon network and reveal the best crypto exchanges with the lowest trading fees.

How to Buy Polygon crypto – Quick Steps

Buying crypto is becoming easier because crypto brokers like eToro allow users to invest in crypto without charging any deposit fees.

  1. Step 1 – Open an account with eToro – Search for eToro online, click the create account button and fill in your details.
  2. Step 2 – Deposit – Select the amount you want to invest in Polygon and complete your deposit process. eToro lets users make deposits starting at $10 and offers various funding methods, including credit/debit card or PayPal.
  3. Step 3- Search for Polygon – Type Polygon in the website’s main search bar and click on “Trade.”
  4. Step 4 – Buy – To buy Polygon, first type the amount you want to allocate for your trade and then press “Open Position” to complete the purchase.

Cryptoassets are a highly volatile unregulated investment product.

Where to Buy Polygon Crypto

For smart contracts to become integrated and used at an institutional level, they must be reliable. The Polygon network has generated excitement in the industry because it successfully tackles Ethereum’s lack of scalability by improving transaction speeds and security.

Polygon is the most prominent Layer 2 protocol. MATIC has a market capitalization of $11.7 billion and is currently the only scaling protocol in the Top 20 coins by market cap. As an industry-proven protocol, Polygon is generating excitement among investors, indirectly translating to more exchanges listing and trading MATIC crypto.

Whether you have a long-term crypto investment plan for Polygon or just want to swing trade the token, the list below highlights the best exchanges where you can invest in Polygon crypto with ease.

1. eToro – The Best Option For New Investors To Buy Polygon Crypto With Lower Deposit Fees

etoro logoOur in-depth analysis of the best cryptocurrency exchanges for crypto novices shows that eToro is the most suitable platform if you want to invest in Polygon crypto. Because eToro is regulated in several top-tier jurisdictions and has a simple KYC process, traders can get exposure to MATIC quickly without an overly complicated user verification process. eToro is regulated by the SEC, FCA, and the ASIC, making it an obvious choice for investors who are only starting in their crypto journey.

On eToro, traders do not pay any fees on their deposits. In addition, the exchange broker offers a wide variety of deposit methods, including credit and debit cards, PayPal, or alternative digital financial wallets like Skrill. Thus, users can invest in Polygon crypto with as little as $10 and benefit from a higher investment return..

eToro exchange

But eToro has more to offer than just zero deposits fees and a user-friendly crypto app. Platform users can take advantage of zero-commission trading on traditional financial products like stocks and ETFs. However, only crypto trading has a 1% transaction fee on every buy and sell order, as eToro only generates revenue from the bid/ask spread. Thus, crypto traders on eToro have to pay a 1% fee on every buy and sell order which is already priced into their P/L. Therefore users should expect a lower return than what is shown when they close or open a trade.

The differentiating element for eToro is the platform’s social trading feature. While users can buy over 57 cryptocurrencies, eToro’s social trading features give eToro users an edge. Investors can navigate the complex trading space and make a calculated decision using trading cues shared on eToro’s social feed. Thus, traders can use mirror-trading to copy the trading actions of experienced traders or use tools that provide an overview of Polygon’s previous price activity.

Pros

  • Regulated exchange
  • Transparent crypto trading fees
  • Easy to understand platform for beginners
  • Use of social trading
  • No deposit fees
  • Secure hot crypto wallet

Cons

  • One account currency
  • Standard withdraw fee

cCryptoassets are a highly volatile unregulated investment product.

2. Crypto.com – Multiply your Polygon assets with this one-stop-shop crypto exchange

crypto.com logoCrypto.com developed as a crypto-only exchange allowing investors to access many blockchain products through a single platform. In addition, the platform helps normalize the use of cryptocurrencies in many circumstances. Thus, users can access DeFi to trade or swap crypto and use crypto staking to earn an attractive and stable APY on their Polygon assets. Moreover, Crypto.com introduced has added an NFT feature to their exchange which helps traders and investors find the best NFTs on the market and get accustomed to the new digital trend.

Crypto.com attracts users with its cashback system. The platform has a partnership with Visa, and users that spend crypto using the Crypto.com card can get up to 8% cashback on their purchase. However, Crypto.com rewards from crypto lending or credit card purchases are all paid in CRO tokens.

crypto.com exchange

Trading on Crypto.com also comes at a price. Traders pay a transaction fee of 0.40%, which decreases if the 30-day volume exceeds certain thresholds. As a result, users can pay as little as 0.04% for both market and taker, or if their 30-day trading volume exceeds $200 million, they only pay a fee of 0.04% for each. Similar to eToro, Crypto.com has a simple KYC process and offers several deposit methods. Investors who want to deposit using a credit or debit card have to pay a fee of 2.99% respectively 3.99% for smaller deposits.

Pros

  • Various deposit methods
  • Access to DeFi and NFTs
  • Transaction fee benefits using multiple tiers

Cons

  • Cash back rewards depend on trading volume
  • High fees for non CRO holders

Cryptoassets are a highly volatile unregulated investment product.

3. Coinbase – Trusted Crypto Exchange To Invest In Polygon For Beginner Traders

coinbase logoCoinbase can be considered the most user-friendly crypto exchange on the market. Coinbase’s welcoming and simple-to-understand interface makes it easy for retail investors to start investing in crypto. Coinbase is the only publicly traded cryptocurrency exchange on the NASDAQ and has gained a reputation as a trusted and secure exchange, making it a popular choice among retail and institutions alike.

Acting as a custodian for large institutional players like Grayscale, Coinbase puts a lot of emphasis on asset security. Platform users must enable two-factor authentication before they can start trading. Coinbase also has a lower entry barrier, making deposits starting as low as $2. However, that comes at a price in terms of fees. Users first pay a flat fee between $0.99 and $2.99. On top of that, credit card deposits also have to pay a 3.99% handling fee.

Coinbase exchange

Coinbase has introduced Coinbase Pro, a service for avid traders which minimizes deposit and transaction fees on the platform. The good thing about Coinbase is that users can withdraw and deposit crypto without paying any fees, just the standard network fees.

Pros

  • Crypto to crypto withdraws
  • The only publicly traded crypto exchange
  • Low entry barrier
  • Easy to understand U.I.

Cons

  • Complicated deposit fees structure
  • Limited trading options

Cryptoassets are a highly volatile unregulated investment product.

4. Binance – Best Way To Invest In Polygon Using Extended Trading Instruments

Binance is the leading cryptocurrency platform with the highest 24-hour trading volume. In addition, Binance differentiates from the previously reviewed exchanges by offering a more versatile trading experience. 

binance exchange

Platform users can opt for a simple trading experience or access different financial instruments like derivatives, futures, or margin trading that can enhance their profits. Binance is only partially regulated, which is why it can offer diverse trading experiences for both novice and experienced traders. Although traders can buy Polygon, some risks are associated with keeping your assets on Binance.

If you want to buy Polygon crypto on Binance, the platform allows crypto and fiat deposits; however, the platform has limited FIAT options. In addition, after completing a KYC, users can make deposits using a credit or debit card, which is subjected to transaction fees. Still, because Binance is not entirely regulated, not every national-issued credit card is accepted by Binance.

Pros

  • Advanced trading instruments
  • Withdraw on multiple blockchains

Cons

  • Restricted credit card deposits
  • Available in the U.S. as a decentralized exchange

Cryptoassets are a highly volatile unregulated investment product.

What is Polygon?

polygon logo

Polygon is a layer-2 protocol built to increase Ethereum’s network efficiency by acting as an add-on layer for the ecosystem. Ethereum is the most popular and widely used smart contract platform, which currently handles a high network load. 

Over the past two years, Ethereum has been the epicenter of NFT, DeFi, and Metaverse coin development. However, due to Ethereum’s congestion issues, developers have sought new alternatives which can scale dApps without any issues. Polygon operates on the same protocol as Ethereum; however, it acts as a sidechain that is still connected to the Ethereum network. Sidechains have gained popularity because they do not affect the state of the original network and their interconnected framework allows layer-2s like Polygon to improve network capabilities.

Branded initially as Matic Network when it launched in 2017, the network was rebranded into Polygon by the start of 2021. However, MATIC was kept as the native utility token of the protocol. The protocol allows users to allocate their MATIC tokens to the network and become validators and delegators. In return, the network rewards users who stake their crypto with new MATIC tokens.

Ethereum uses a proof of work (POW) consensus mechanism, which has has proved the network has limited capabilities. Polygon uses a proof of stake (POS) mechanism which allows transactions to be executed faster. Thus Polygon has a much more efficient transaction output than Ethereum. Proof of stake is has become a new golden standard in the blockchain space as it proves to improve network security, resilience and speed.

Ethereum has proven its limitations, and layer-2 networks like Polygon build new functions that facilitate smart contract integration without incurring such high transaction costs. Polygon is EVM compatible, and the protocols SDK allows any developer to build on top of Ethereum using Polygon without endangering their dApp security.

polygon zk-rollups

Additionally, Polygon is continuing its quest to improve the Etherum network. Polygon has purchased MIR, another Ethereum scaling solution that adds zero-knowledge proofs or ZK-rollups to transactions. ZK-rollups let protocols like Polygon bundle transactions while limiting the necessary information needed to be revealed for transactions to be validated.

While Polygon has started as a Layer 2 solution, it has created an infrastructure that allows the protocol to bridge with multiple protocols that helps achieve network interoperability without compromising fees, transaction speeds, or security.

Is Polygon a Good Investment?

Polygon is one of the first protocol add-ons which has managed to address Ethereum’s shortcoming through a solution that doesn’t affect the network efficiency but rather enhances it. Below are the five reasons we think you should buy Polygon without thinking twice!

Cheaper Than Ethereum

Ethereum is an expensive chain. After the DeFi summer of 2020 and NFT summer of 2021, Ethereum gas has reached unimaginable peaks as high as $5,000. Polygon operates adjacent to the main Ethereum chain; Polygon dApps are not affected by any Ethereum congestions. Therefore, deploying contracts interacting with blockchain products like NFTs or DeFi becomes more affordable. It also means that blockchain doesn’t become restrictive due to higher fees.

DeFi is moving to cheaper alternatives

Ethereum is losing market share in the DeFi space. This results from investors looking for cheaper protocols while still wanting to interact with DeFi coins on more affordable chains. Polygon is currently the 8th largest DeFi protocol with a total value locked of $3.64 billion. QuickSwap, the native Polygon DEX, has a TVL of $805, and users who want to invest in Polygon can access decentralized financial with discounted fees.

Polygon is environmentally friendly

Proof of work is a frowned-upon consensus mechanism. On the other hand, proof of stake enables protocols to improve their network efficiency and minimize blockchain energy footprint. Therefore, investors who buy Polygon need to weigh the general advantages of POS, which allows the protocols to perform better in terms of security speed and have a lower environmental impact.

Lower entry for investors

Polygon has a lower entry barrier for investors. Because Polygon has a finite supply of 10 billion tokens, the value of MATIC, the native protocol token, still has more potential for the upside. Users who want to know how to invest in Polygon should consider the value Polygon brings to the decentralized space the possibility of increasing in value as more developers make the switch to Layer-2 protocols.

It’s highly scalable.

Polygon’s proposition of creating a sidechain that operates on enhanced Ethereum parameters allows businesses to embrace blockchain adoption more rapidly. Institutional investors would see the value smart contracts add to the digital ecosystem without network congestions or unknown fees. Moreover, Grayscale Trust is already considering Polygon as one of the main projects featured in their smart contract fund, indicating scalability primes over network latency.

Polygon Price

Polygon price chart

The price of Polygon is in line with the adoption curve and general consensus that network scalability and transaction speed are needed for blockchain to be adopted at a larger scale. In addition, MATIC, Polygon’s utility token, has shown relative strength in terms of price action

At the time of writing, MATIC is trading in trading at $1.52, and even though the general crypto market has been on a downward trajectory, MATIC is still up from the same period in 2021. Additionally, users who want to buy MATIC should know MATIC reached an all-time high of $2.92 on December 26th, 2021 and should consider previous high points before making an investment.

Investors who want to understand how to buy MATIC should first look at the typical price ranges of the token. A brief technical analysis shows where support and resistance levels are situated. Investors should know there is a high buying pressure at a $1.31 support level, which could be the right entry point. Yet, there is still significant resistance at the $2.10 level, which could be challenged only if Polygon breaks its Bitcoin correlation.

MATIC is far from its previous all-time high. With a market cap of $11.7 billion, MATIC lost 45% of its total market cap since its previous high.

Cryptoassets are a highly volatile unregulated investment product.

Polygon Price Prediction

Technical analysis and cryptocurrency price predictions are rarely accurate. Bitcoin is a volatile asset, and any drop in Bitcoin price automatically affects the best altcoins like Polygon. Furthermore, due to a lack of market liquidity and the fact that crypto is still a new technology, crypto markets can act violently to news as social and economic cues heavily influence their prices.

Despite market unpredictability and Bitcoin’s sideways movement, Polygon price moving averages indicate a slight growth even though crypto is in a mini bear cycle. Although bear markets are a test for cryptocurrencies to prove they have been battle-tested enough, it would seem that investors who buy Polygon crypto could be in for a good surprise if Bitcoin would make a recovery.

Polygon has shown its resilience despite market turmoil. Although predicting the market is a shot in the dark, layer-2 solutions which are pushing towards network interoperability and scalability for mass adoption could be an investment hedge. Read more on our Polygon price forecast.

Ways of Buying Polygon

Acquiring cryptocurrencies has become much more accessible, even for novice investors. Users who want to buy Polygon crypto can use traditional payment methods to buy their first crypto assets.

Buy Polygon with PayPal

PayPal is a widely used digital payment platform that has removed money transfer intricacies. Since 2021, PayPal has allowed users to get exposure to major cryptocurrencies; however, they cannot invest in Polygon directly on PayPal. eToro will enable users to buy Bitcoin using PayPal as well as other 57 cryptocurrencies. In addition, by using eToro’s PayPal deposit, users can buy Polygon without incurring any deposit fees in the process.

Buy Polygon with credit card or debit card

Credit and debit cards are used globally to purchase goods and services, and they can be used to also invest in cryptocurrencies. Thankfully, regulated exchanges like eToro allow investors to make FIAT deposits and trade FIAT for their favorite crypto. Investors who want to get exposure to Polygon can sign-up to eToro and invest in Polygon without paying any fees on their credit or debit card deposits.

Best Polygon Wallet

Storing your crypto is as crucial as buying crypto near support levels or generating revenue from your investment. Unfortunately, new investors frequently ignore industry warning signs and forget to select a safe crypto wallet to store their digital assets. More often than not, this leads to hacks because investors didn’t take time to understand what’s the best way to store their assets before they buy Polygon.

There are several ways of storing your crypto. Although some ways are safer than others, each comes with a level of risk, whether it is the ease of access or security-related. You can store your MATIC assets either on a hot or cold wallet. You should select wallets that put emphasis on asset security like the eToro Money Crypto wallet, which can store up to 120 different cryptocurrencies.

eToro Money Crypto Wallet

If you want to have cryptocurrencies on hand at all times and be ready to transfer or trade them, you should keep your assets in a hot wallet. Hot wallets are always connected to the internet and are platform-based (as computer software or a mobile app). Because they are always connected to the internet, they are easily exploitable by hackers.

On the other hand, cold wallets are hardware wallets or USB wallets. They are much safer because you can only see or interact with your assets if you connect the USB to your computer. Still, they could prove to be risky because you might lose them!

If you are just starting your crypto journey, the eToro Money Crypto is the best way to store your crypto because the wallet has an unlosable private key. After deciding where to buy Polygon, you can immediately send it to your eToro Money Wallet without paying commissions. You only pay network fees when you send crypto to other wallets, and eToro has built-in transparency features that won’t catch you off guard.

In fact, through eToro, you can pay and get paid in crypto and interact with over 500 trading pairs, which makes the entire wallet experience easy to come by.

Cryptoassets are a highly volatile unregulated investment product.

How to Buy Polygon – Tutorial

After exploring the Polygon network and its use cases and discussing the best brokers where to buy Polygon crypto, the following section covers the fastest way to buy Polygon crypto using eToro.

Step 1 – Open eToro Account

Create an account with eToro by accessing the official website and clicking on the top right “Join Now” button. Register by adding your username email address and creating a personalized password for your account in the new prompt screen. eToro also offers users the possibility to sign up with a click of a button using Facebook or Google login. To complete the process, select “Create Account.”

eToro - Open Account

Step 2 – Verification

To finalize your registration process, you submit two personal documents. eToro is a regulated broker and needs to conduct internal KYC to operate and offer the best exchange services. First, upload a picture of your document to prove your identity. You also need to upload a document proving your address. On eToro, you can upload bank statements, utility bills, or other official documents. After uploading all the documents, click “Verify.”

eToro verification

Step 3 – Deposit

Deposit the amount you allocated for your investment by tapping on the “Deposit” button at the bottom right corner. First, type the amount you want to deposit to your eToro account. Then, select your preferred payment method and tap on “Deposit Now.” Users can make deposits as low as $10 and choose between several deposit methods.

Make a Deposit on eToro

Step 4 – Search for Polygon

On the main search bar, type Polygon or MATIC – the native token of the platform. Then, click on “Trade” to open the buying interface when the option is shown.

Step 5 – Buy Polygon

Type the amount you want to invest in Polygon. Always make sure you’ve done your research before making any crypto investments. Then, verify the amount you want to buy for is correct and click on “Deposit Now.”

buy Polygon eToro

Cryptoassets are a highly volatile unregulated investment product.

How to Sell Polygon

If you are in profit and want to close your Polygon position, you must follow these simple steps. First, click on the bracket that says “Portfolio.” Then select your open Polygon position and click on the red x sign on the right of the row. Finally, select “Close Trade” to place a sell order. Once the sell order is executed, eToro will fund your account with the equivalent value in USD or your account currency.

Conclusion

This guide has shown how a layer 2 protocol like Polygon addresses Etheruem’s shortcomings and how it can enhance network reliability by building on top of the main Ethereum network. We also provided an overview of the four best crypto exchanges for new investors.

Now that you know how to buy Polygon crypto, you can sign-up to eToro, and take advantage of no deposit fees when starting your crypto investment journey.

etoro logo

Cryptoassets are a highly volatile unregulated investment product.

Frequently Asked Questions when Buying Polygon Crypto

Where can I buy Polygon crypto?

How can I buy Polygon?

Is Polygon a good crypto to buy?

Can Polygon reach $100?

Where can I buy MATIC coin?

How do I buy MATIC with MetaMask?

Is Polygon on eToro?

Is Polygon on Coinbase?

Is Polygon coin on Binance?

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