What is Polygon (MATIC)?
Polygon (MATIC) is an Ethereum token that powers the Polygon Network. Polygon provides faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. To create new MATIC and secure the network, Polygon uses a proof-of-stake consensus mechanism — which means that one way you earn money on MATIC you hold is via staking. You can buy and sell MATIC for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade MATIC for BTC the same way you trade CAD for USD. You can also trade MATIC to CAD based on the MATIC price. To learn how to buy Polygon / MATIC, scroll down to see how to buy Polygon.
How to buy Polygon (MATIC)?
Here's how to buy Polygon on Coinsquare
To buy Polygon, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying MATIC. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select MATIC from the list on the trade section
Coinsquare lets you trade MATIC without leaving the app. You can also check the Polygon price and convert MATIC to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the MATIC price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Polygon (MATIC)
Congratulations! You’re now the proud owner of MATIC. You can either HODL or use it to exchange MATIC to CAD.
Where do I keep my Polygon (MATIC)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely. There are different storage options available for your cryptocurrency, your choice should ultimately be the one that suits your needs. Mobile and web wallets can make transactions easy as the currencies are accessible directly from your phone or device, whereas hardware wallets are best suited for secure, long-term storage as they eliminate the vulnerability found in online environments.
Ready to add Polygon (MATIC) to your portfolio?
Create your account, fund it with spare change and get a little bit of MATIC.
