How To Buy Polygon | Buy Polygon From Just $25


Launched to boost Ethereum scaling and to address transaction delays, Polygon (MATIC) has become a notable protocol in the cryptocurrency industry. The network is a vibrant ecosystem offering developers numerous practical use cases to build and scale applications.

If you’re curious about how to buy Polygon, this guide has been written to answer your questions. After reading this page, you’ll understand how to buy Polygon cost-effectively and which brokers are best for this purpose.

#1 Broker to Buy Polygon – eToro

How To Buy Polygon – Choose a Broker

You might want to add Polygon to your cryptocurrency portfolio. The process required to do this is pretty easy. However, you’ll need to choose a secure broker with a competitive fee structure.

Here are the top picks in terms of places you can buy Polygon.

  • eToro – Overall Best Place to Buy Polygon
  • Coinbase – Great Broker to Buy Polygon for Newbies
  • Binance – Large Exchange to Buy Polygon
  • OKEx – Buy Polygon via Crypto Deposits
  • Kraken – Credible Place to Buy Polygon

These brokers have been assessed using relevant parameters such as fee structure, credibility, user-friendliness, and more. Further down on this page, you’ll find our full reviews of these Polygon platforms.

How to Invest in Polygon – A Quick Guide for 2021

To buy Polygon quickly, the brief guide below is all you need. These are the steps you need to follow on eToro — a low-cost and regulated platform.

  • Step 1: Open an Account on eToro – Head over to the broker’s website to start the registration process. This will require you to choose a username/password – with which you’ll access your account subsequently.
  • Step 2: Provide ID – You cannot buy Polygon on this broker if you haven’t validated your identity. Therefore, this step requires you to provide a valid ID before the broker allows you to proceed.
  • Step 3: Add Funds – On eToro, you have to deposit a $200 minimum into your account. This amount is $50 if you’re a US client. With your debit/credit card, you can complete this transaction swiftly. You can also elect to use e-wallets or wire transfers.
  • Step 4: Search for Polygon – Look for the search box on the broker’s homepage and enter ‘Polygon.’ The broker will display Polygon among other options. Choose the token to move to the next step.
  • Step 5: Buy Polygon – Here, you’ll be shown an order box. This is where you’ll enter your stake ($25 minimum). After that, you’ll click ‘Open Trade’ to finalize the purchase.

With the steps outlined above, you have just learned how to buy Polygon!

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

Where to Buy Polygon – Full Broker Reviews

Getting the right broker to buy Polygon can be challenging for many reasons. After all, there are many cryptocurrency platforms in the market that you can utilize. As such, assessing them all to determine the most suitable one will be time-consuming.

To help you through this phase, we assessed a wide range of brokers to determine the most credible ones. In doing this, we considered fees and commissions, the broker’s regulatory status, ease of use, and the supported payment methods. Consequently, below are the top picks that you can consider when you want to buy Polygon tokens.

1. eToro – Overall Best Place to Buy Polygon

When we assessed eToro, one of the many things that made the broker an easy pick is the platform’s credibility. Approved by the SEC and three other financial bodies, the broker positions itself as a legitimate place for beginners to buy MATIC tokens. Additionally, the broker lists 30+ cryptocurrency tokens including Polygon. After opening an account, search for the token, and use the order box to buy the number of MATIC coins you want.

Notably, you can start buying tokens on eToro from just $25. This is great for beginners who don’t want to start their Polygon investment journey with a huge sum of money. After purchasing the tokens, the broker provides you with a wallet for you to store the coins. Once you’re ready to cash out your investment, you’ll only have to initiate the order from your portfolio and the broker will sell your Polygon tokens.

etoro crypto

eToro’s minimum deposit is $200 ($50 for US clients). Meaning, once you add this amount to your account, the broker will then allow you to buy MATIC tokens. Instead of charging variable commissions, what you incur on eToro is the spread — which refers to the gap between the ‘ask’ and ‘bid’ price. On eToro, the minimum spread is 0.75% — which is tight when compared against other brokers in this industry.

Furthermore, since eToro offers numerous cryptocurrency tokens, you can add more coins to your portfolio alongside Polygon. The broker lists popular tokens like Ripple, Ethereum, Dogecoin, and Bitcoin. Additionally, projects with a smaller market cap such as Enjin and Decentraland are also supported by the broker. Essentially, you have a number of tokens to choose from if you want to minimize your investment risks through portfolio diversification.

etoro copy trading

We can’t conclude this review without noting that the broker is designed with impressive tools that make it super easy to use the platform. The first on our list is the crypto trading tool. This feature allows you to choose an investor with experience in the cryptocurrency markets. Once chosen, the broker will mirror the investor’s future trades in your portfolio at a proportional manner. Additionally, eToro has a mobile app through which you can buy and sell MATIC tokens in a swift manner.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Registered with FINRA/SEC and regulated by the FCA, CySEC, and ASIC
  • Over 20 million clients
  • Great for newbies
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Great Way to Buy Polygon for Newbies

Buy MANA at Coinbase

Coinbase is one of few brokers that takes the security of funds with a high level of seriousness. The broker stores 98% of clients’ funds offline, which is an effective way to ensure adequate protection. In addition, the broker adds an extra security layer to all accounts through a 2-step verification process. Here, all users will enter a pin sent to their phone alongside their login details.

Furthermore, Coinbase operates with USD insurance, as cash balances of up to $250,000 are FDIC-protected. This is an important factor to consider when assessing the broker. Another feature contributing to the broker’s popularity in the cryptocurrency market is user-friendliness. That is to say, Coinbase has an interface designed to allow newbies to buy Polygon without prior experience.

coinbase review

Additionally, Coinbase allows users to buy Polygon in a recurring manner. With this feature, you can decide the number of tokens the broker should automatically buy at regular intervals. Notably, however, although Coinbase is secure and user-friendly, the broker’s fees are quite high. When you buy Polygon with your debit/credit card, you incur 3.99% in fees. This is a factor you must contemplate before deciding on whether to use the broker or otherwise.

Pros

  • One of the most popular cryptocurrency exchanges
  • More than 68 million users
  • Supports instant debit card purchases
  • Dozens of digital currencies to choose from
  • Institutional-grade security practices

Cons

  • Debit card deposits are expensive at 3.99%
  • You will pay a standard trading commission of 1.49%

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. Binance – Large Exchange to Buy Polygon

Asides from supporting established cryptocurrency tokens, Binance is reputed in this industry to list new coins once their ICO is complete. This factor contributes to why the exchange is a favorite in the cryptocurrency industry. So, if you’re interested in quick updates on new tokens in the market, Binance is one of the best places to consider. Asides from buying Polygon, you can also purchase any of the over 100 coins listed on the exchange.

Furthermore, in terms of trading commissions, Binance has low fees. This is because the exchange charges 0.10% of the trading amount. Meaning, if you elect to trade $1,000 worth of MATIC tokens, the exchange will charge you 0.10% of that amount, which equals $10. To buy the coin, you can elect to use your debit/credit card or a wire transfer. After purchasing the tokens, you can choose to leverage the exchange’s storage facility to safely store them.

binance review

However, while trading commission might be low, you equally have to consider some other fees charged by the exchange. For instance, debit/credit card deposits can attract a fee of up to 4% in some regions. As a beginner, incurring such a high fee on your deposits can affect the size of your potential returns. Nonetheless, in terms of security, Binance is a great exchange — as the platform sends a verification code to your mobile phone before you can buy, sell, or withdraw tokens.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit card
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. OKEx – Buy Polygon via Crypto Deposits

OKEx homepage

When you use OKEx, you only have the MATIC/USDT market to purchase the token. This means that you’ll first have to buy USDT and then swap the purchased coin for Polygon. Therefore, if you have some tokens in another wallet, you can make a crypto deposit on OKEx and then proceed to buy the coin. An advantage of funding your Polygon investment through this process is that you might not have to complete a KYC step.

Furthermore, on OKEx, liquidity providers for decentralized protocols earn some returns accordingly. This represents another way to earn passively asides from staking your MATIC tokens. Additionally, OKEX has a program through which users can earn rewards for completing learning tasks. In most cases, these tasks will involve watching a video or completing an article, after which they will be rewarded with 50 Satoshis.

Finally, after purchasing your MATIC tokens, you can choose to store them on the exchange’s non-custodial wallet. This is a significant reason why you might consider getting the exchange’s mobile app – since the wallet comes with this as a core feature. Leveraging the wallet is a great way to store your tokens since your private keys are completely within your care. Once you buy MATIC tokens on OKEx, you’ll be joining the platform’s growing userbase of nearly 20 million clients.

Pros

  • Trusted crypto exchange with over 20 million users
  • More than 400+ digital currency pairs
  • Buy and sell cryptocurrencies with a debit/credit card or bank transfer
  • Low commissions that start from 0.1%
  • Fully-fledged mobile app on Android and iOS
  • Great reputation and highly secure

Cons

  • Debit/credit card fees could be more competitive
  • Derivative products are too complex for beginners

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

5. Kraken – Credible Place to Buy Polygon

kraken review

If you have some experience in the digital tokens industry and you want to engage in a sophisticated form of trading, you can choose Kraken for that purpose. A notable feature of this platform is that it allows you to margin trade with up to 5x leverage. This means that you can fund the purchase of new cryptocurrencies with an amount that may exceed your account balance. Although this form of trading is common in the market, you have to act with caution so you don’t incur huge losses quickly.

However, after buying your tokens, you’ll have to transfer them to an external storage facility, as the platform doesn’t offer a secure wallet service. Your tokens might be an easy target of remote attacks in this case — since your private keys are in your care. Nonetheless, trading with Kraken is suitable for those with experience in the cryptocurrency space. The platform has an advanced trading interface that’s highly intuitive and makes the process swift.

kraken review

Finally, suppose you come across any difficulty while buying Polygon, Kraken has 24/7 tech and customer support. You can get help through different channels including online chat and email. This way, even if you get stuck while attempting to invest during the weekend, you can reach customer support and proceed with buying your token without having to wait till the following week. Notably, however, Kraken charges a 3.75% fee when you make transactions with your debit/credit card.

Pros

  • Popular cryptocurrency exchange and broker
  • Great selection of cryptocurrencies
  • Supports both crypto-cross and fiat-to-crypto pairs
  • Accepts debit/credit cards and bank transfers
  • Offers complex crypto instruments for experienced traders

Cons

  • Not all US states are supported
  • Fees are somewhat pricey

at eToro, #1 Broker in the Crypto Space

Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.

How to Buy Polygon – Detailed & Explained in Full

Although we provided a guide on how to buy Polygon earlier on, we understand that the explanation was brief and might appear insufficient. We’ll now proceed to substantiate each step outlined earlier with adequate information. Using a low-cost broker such as eToro, here are all the steps you need to know about when buying Polygon.

Step 1: Open an Account with eToro

Search eToro online and proceed to the broker’s website to open an account. On the website, you’ll find the ‘Join Now’ button, which you have to click to start the registration process.

how to join etoro

Then, you’ll provide your full name, choose a username/password, and input all other required details. Within a few minutes, you should complete this step.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Provide ID

In compliance with anti-money laundering regulations, licensed brokers have to verify the identity of all users. This means that you cannot buy Polygon on eToro anonymously since the broker is regulated by four bodies – including the FCA and the SEC.

Therefore, to fulfill this step, you’ll have to prove your home address by uploading a document that contains it. You’ll also upload your ID — you can use your driver’s license here. If that’s not available, you can upload your passport.

Step 3: Deposit Funds

On eToro, the broker requires users to add at least $200 ($50 for US clients) to their accounts. To add the funds, you have a number of options to choose from including debit/credit cards and e-wallets.

Deposit Funds

Notably, for all the payment options available on eToro, US clients can make a deposit on a fee-free basis. Other regions will pay a small FX conversion fee of just 0.5%.

Step 4: Search for Polygon

In the search box, enter Polygon to find the token. The result tab will display a few options including ‘Polygon.’

buy polygon etoro

Once you see that option, click the ‘Trade’ button to access the order form.

Step 5: Buy Polygon

After seeing the order box, your next job is to enter the amount of Polygon you intend to purchase. Do not forget that the minimum you can enter is $25 when using eToro.

buy polygon

Then, you can finalize your order by opening the trade. This can be done by clicking on the ‘Open Trade’ button.

Buy Polygon – Best Place to Buy Polygon

A brief survey of the cryptocurrency industry shows that there are numerous platforms to buy Polygon. However, most of these platforms can typically be categorized into two options: a cryptocurrency broker or exchange. While these two options essentially allow you to buy Polygon, there are notable differences between them that every beginner should know about.

Online Cryptocurrency Broker

When utilizing a cryptocurrency broker to buy Polygon, you’ll be purchasing the tokens directly from the platform. This is because brokers store digital currencies in huge amounts, making the tokens ready for buyers at all times.

  • Notably, these brokers enjoy regulation from leading financial agencies. Meaning, you’re buying Polygon in a secure manner when you utilize a regulated broker.
  • Furthermore, brokers make the end-to-end process of buying Polygon straightforward since you don’t have to transact with other traders, but the broker directly.
  • This also means you don’t have to worry about assessing different market participants for the ones with the best pricing.

On top of the above, a licensed broker such as eToro offers you a wallet service to safely store your MATIC tokens.

Cryptocurrency Exchange

For platforms that are mostly unregulated, you might wonder why investors choose to buy Polygon through cryptocurrency exchanges. There are a few reasons why this happens – as explained below.

  • The first is that exchanges tend to offer notably low fees, which many investors consider a perk.
  • Additionally, you’ll likely find exchanges listing more than a hundred markets and having high liquidity levels.
  • On top of this, exchanges mostly don’t require users to complete a KYC step – so investors can buy tokens without disclosing their identity.

In a cryptocurrency market where investors actively search for platforms with low fees, these exchanges are considered appealing. However, you have to act with caution here.

buy polygon etoro

 

As a smart investor, security should top the list of features you consider when assessing an investment platform. Therefore, you should rank legitimate brokers over unregulated exchanges.

Ways to Buy Polygon

As earlier established, there are different payment methods you can utilize when you want to buy Polygon.

Let’s take a look at each option.

Buy Polygon With Debit Card

Investors tend to use their debit card to buy Polygon — as this is a fast option when it comes to making deposits. On eToro, you can utilize your debit card to add funds to your account at just 0.5% (free for US investors). This contrasts sharply with other platforms with a high fee structure in this regard. For instance, Coinmama will charge you 5% for the same service.

Buy Polygon With Debit Card Now

Buy Polygon With Credit Card

In a similar manner to a debit card, eToro will charge you 0.5% for adding funds through this option – and nothing if you are a US client. However, you should consider whether your credit card provider charges any fees before using this payment method.

Buy Polygon With Credit Card Now

Buy Polygon With Paypal

You can also use Paypal to fund your account if you choose a broker that supports e-wallets. An easy pick here is eToro, as the platform allows you to make a deposit with Paypal, Skrill, and even Neteller.

Buy Polygon With Paypal

Buy Polygon With Bitcoin

When you choose a cryptocurrency exchange, you’ll likely see many markets such as MATIC/BTC and MATIC/ETH. This means that you can buy Polygon with Bitcoin and Ethereum respectively on such a platform. Therefore, if you want to buy Polygon with crypto, you must assess the exchange you’re choosing to ensure it supports the respective market.

Buy Polygon With Bitcoin

Why Buy Polygon

It’s pretty normal to be confused on whether or not to buy Polygon. In fact, many investors go through this phase before eventually making a decision on the token. Therefore, this section has been prepared to show you some features that are relevant to Polygon’s value in the market.

Support for Developers

Although the Ethereum blockchain has become an important platform for developers, there are some issues preventing the network from fully harnessing its potential.

  • Some of these include transaction delays, high gas fees, and inadequate community governance.
  • Polygon addresses this problem by providing a low-cost platform for developers to build Ethereum-compatible blockchains.
  • The platform is easy to use and makes it convenient for developers to create custom networks.

Additionally, the network also seeks to enable inoperability across different blockchain protocols.

Fast Execution Speed

One of the challenges that Polygon seeks to address is slow execution speed. The protocol executes up to 65,000 transactions per second and has a block verification time in the micro-seconds.

buy Polygon

Additionally, the network is a single foundational blockchain for developers to create decentralized finance applications that are globally relevant. These are key features that developers consider when utilizing a network. Notably, the rate at which the network grows can have an impact on the MATIC token.

Community Governance Structure

The polygon network actively involves token holders in the various operations of the protocol.

  • The network leverages proof-of-stake validators to ensure the security of assets, making staking a crucial part of the protocol.
  • Validators are required to stake their Polygon tokens to be a part of the network’s consensus mechanism.
  • In return for their services, they will also receive MATIC tokens.

Token holders who are not interested in validating transactions can also delegate their tokens to other validators. Additionally, members of the network can also vote on proposals and contribute towards developing the platform.

Low Price

At the time of writing in late September 2021, Polygon price was just over $1. This represents a low price in comparison to popular projects like Bitcoin.

buy Polygon

This means that buying Polygon on a budget can still get you a huge number of coins. For instance, a $100 purchase of MATIC tokens will amount to over 90 coins. If you spend the same amount on Bitcoin, you’ll only receive about 0.0023 BTC.

The Cost of Buying Polygon

Key considerations when contemplating how to buy Polygon should include fees and commissions. Fee structures vary from one platform to another. Therefore, to buy Polygon in a low-cost manner, you’ll need to know the cost of purchasing the token with the platform you’ve chosen.

Fees for Adding Funds

When you buy Polygon online, you’ll have to fulfill the minimum deposit requirement of the platform. For eToro, you have to deposit $200 ($50 for US clients) into your account before you can buy Polygon.

The good news with eToro, however, is that you can add funds at just 0.5% (0% for US clients) using any of the available payment methods. We argue this is highly notable because you’ll incur a 3.99% fee when making a deposit with your debit/credit card on Coinbase.

Instant Buy

A broker like Coinmama allows you to buy tokens instantly via your debit/credit card. However, you’ll be charged 5% for this transaction. In comparison with what eToro charges for debit/credit card transactions, this fee structure is super high.

Commissions

Investment platforms often determine your commissions based on your transaction amount. If that’s not the case, then the platform might charge fixed commissions.

  • On eToro, you don’t incur commissions when you buy Polygon. Instead, you incur the ‘spread’ when you purchase the token. As earlier established, the spread starts at just 0.75%.
  • However, you’ll incur a 1.49% commission when you trade crypto at Coinbase. Coinmama will charge you a 3.81% standard trading commission.

Essentially, eToro charges low fees in comparison to these two brokers.

How to Sell Polygon

If you buy Polygon and the market moves in your favor, the value of your investment will rise. In that case, the size of your returns will be based on how much you invested. Nonetheless, to secure the returns on your investment, you have to sell the tokens.

eToro makes this process a seamless one. Since the broker stores your MATIC tokens on the platform, you simply have to elect to sell from your portfolio. Create a ‘Sell’ order to instruct the broker accordingly. After that, your tokens will be sold and you’ll realize your returns once the broker adds your proceeds to your balance.

How to Buy Polygon – Conclusion

In summary, while we recognize that the process required to buy Polygon might be a bit tasking for beginners, the ultimate challenge is how to choose the right platform. This is even more of a daunting task when you consider that this industry is filled with hundreds of brokers and exchanges.

This is why we suggest considering eToro when buying Polygon — if you’re looking for a regulated broker with low fees. The broker is approved by many regulators including the SEC and you can buy MATIC from just $25. Plus, eToro supports debit/credit cards and e-wallets, so you can buy Polygon in under five minutes!

eToro – Best Broker Buy Polygon

etoro review

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

FAQ

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters – including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.



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