Where & how to buy Polygon (MATIC) for beginners in 2024

Use our step-by-step guide to learn where and how to buy Polygon on the top 5+ crypto exchanges.
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Updated: Feb 23, 2024
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Polygon is a blockchain platform that’s designed to plug into and improve upon the Ethereum network. It’s a popular crypto token to invest in, and currently ranks as the 14th largest cryptocurrency by market cap. 

The easiest way to buy Polygon tokens is through a cryptocurrency exchange. A crypto exchange works just like a stock trading platform, and it only takes a few minutes to buy Polygon this way.

Crypto exchanges are licensed to allow you to buy and sell digital assets, like Polygon, by your local financial authority, the Securities & Exchange Commission (SEC). They work to prevent fraud and other criminal activity. 

This is important because it means you have to create an account with the exchange before you can buy MATIC. And to complete this process, you must verify your identity by providing a form of photo ID.

To create an account and buy Polygon on any licensed cryptocurrency exchange, you will need:

  • A mobile or laptop device
  • An internet connection
  • Your email address and/or phone number
  • A form of photo ID to verify the account
  • A method to deposit & withdraw funds, like bank card or PayPal

As soon as you’ve set up an account, you can start buying Polygon. Follow our quick, 3-step guide to learn how to buy MATIC below.

How to buy Polygon instantly in 3 simple steps

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Step 1. Sign up to eToro

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We recommend eToro as the top crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification.

1
Min. Deposit
$ 10
Best offer
User Score
10
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world’s leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

Step 2. Make your first deposit

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With  eToro you can make a deposit via a card payment, bank transfer, or choose from a selection of alternative payment methods.

You can start with as little as $10. We recommend you start small if this is your first experience with cryptocurrency. 

Step 3. Buy Polygon token

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Type MATIC into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.

Now you own Polygon tokens! It’s as simple as that.

Where to buy MATIC easily

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The overall best exchange to buy Polygon token for beginners is eToro

Here are more top places to buy Polygon, which you can compare according to their simplicity for beginners, fees, customer reviews, and safety ratings.

Sort by:

1
Min. Deposit
$ 10
Best offer
User Score
10
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
$ 0
Best offer
User Score
9.6
Get insights from millions of investors, creators, and analysts
Build your portfolio of stocks, ETFs, and crypto–all in one place
No minimum deposit
Start Trading
Payment Methods:
Bank Wire, Check, Debit Card, Wire Transfer
Full Regulations:
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

Read more about how we rate, rank and review platforms.

Best exchanges to buy Polygon (MATIC), reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

1%

Fees

$50

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade for UK & EU users (not US, real assets only)
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Highlights

Visit eToro eToro Review

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2. Plus500. Best for international CFD trading*

From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Public. Best for sharing beginner trading ideas

public.com logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: Cryptocurrency trades are charged a 2.5% fee per transaction. 

Highlights

Visit Review
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

4. Bitstamp. Best for professionals & trading with APIs

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. 

Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.

The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.

Highlights

Visit Bitstamp Bitstamp Review

5. OKX. Best for futures and margin trading

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.

How much does it cost to buy Polygon?

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Typically, you will be charged a commission each time you buy MATIC. This is normally about 1% of the total trade value, but it varies depending on the exchange you use.

Compare the cost of buying MATIC on the most popular exchange platforms below.

Asset eToro fees Plus500 fees Public fees
Cryptocurrencies 1% From 2%
Commodities From 2 pips From 0.04%
Currencies From 1 pip From 0.8%
Indices From 0.75 pts From 0.7%
Stocks 0% commission From 0.08%
Stock CFDs 0.15%
ETF CFDs 0.15%
View more > Visit eToro > Visit Plus500 > Visit Public >

Another cost you may run into is the spread. The spread is the difference between the buy and sell price of an asset, and a higher spread typically means that your crypto exchange is adding more of a premium on top of the market price. Here are how the spreads for buying MATIC compare at top exchange platforms.

Product eToro spreads Plus500 spreads Public spreads
Stock CFDs 0.15% 0.10%
ETF CFDs 0.15% 0.10%
Forex CFDs From 1 pip 0.8 pips
Crypto CFDs 1% 2%
Index CFDs From 0.75 points 0.20%
Commodity CFDs From 2 pips 0.50%
View all tradable assets > Visit eToro > Visit Plus500 > Visit Public >

Remember, cost isn’t the only thing to consider when you decide how to buy Polygon. For instance, another important factor is where your chosen exchange is regulated and licensed to operate.

What is the best way to pay for Polygon (MATIC)?

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The simplest way to buy Polygon cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for MATIC.

  • Buy MATIC with credit or debit card. Credit/debit card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
  • Buy Polygon with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfers, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
  • Buy Polygon with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
  • Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.

Is Polygon (MATIC) a good investment?

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Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Polygon and its token to help you decide whether to invest in MATIC.

  • Polygon is closely tied to Ethereum. Polygon solves some of the problems of the Ethereum network. It makes it faster and more user-friendly and offers a way around some of its limitations. Crucially, though, it lets apps maintain ties with the Ethereum blockchain as well. This could make MATIC a low-priced bet on Ethereum’s success
  • You can earn rewards for simply holding MATIC tokens. MATIC tokens can be staked to earn passive income. Staking is the process of locking up some of your coins to verify transactions on the network. For staking, you are rewarded with more cryptocurrency. The average APY for staking with MATIC is around 6%. 
  • Token holders get a say in how the network moves forward. Owning MATIC tokens allows you to vote on governance issues relating to how the platform develops. If you have confidence in the Polygon network, then owning MATIC is a way to contribute to its future development. 
  • MATIC is a deflationary token. There is a capped supply of 10 billion MATIC tokens, with around 8.7 billion in circulation. MATIC is also a deflationary coin with a burn rate of 0.27% annually. This means that over time, the number of tokens in circulation will decrease, which should increase their scarcity, and ultimately price. 
  • Ethereum 2.0 could put an end to MATIC. One thing, in particular, to look out for is Ethereum 2.0, as that is Ethereum’s own attempt at solving the problems with its network. If that proves to be a success, it might greatly impact Polygon’s ability to be an extension that fixes Ethereum. It’s a reminder, too, that you should do your research.

In addition to these features, there are many more reasons why Polygon is unique and might be worthy of your interest. To learn more about Polygon and how it works, visit our beginner’s guide to Polygon.

How has Polygon (MATIC) performed this year?

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The current Polygon price today is $1.10, which is 68% below its all time high of $2.92, which it reached on 27 December, 2021. MATIC is -7.65% this year, with a 52 week high of $2.45 and a 52 week low of $0.31. 

What are the risks of buying MATIC coin?

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It’s important to understand that when you invest in cryptocurrency, there’s a high chance of losing money, while financial regulators can change the way these products are offered at the drop of a hat.

The cryptocurrency industry is fast-moving, where prices rise and fall very quickly, and new coins are created all the time. This can mean your investment experiences dramatic swings in price over a short period of time.

On top of the risks that affect the entire industry, there are some specific risks that impact Polygon in particular. Here are some of the key risks to consider before you buy Polygon.

  • Cryptocurrencies often experience price volatility. Digital assets like crypto are much more volatile than traditional financial assets, or regular, ‘fiat’ currencies.
  • There’s regulatory uncertainty in crypto. Government regulators apply different rules in different countries, and these rules are often changing. You might find access to crypto is suddenly restricted where you live.
  • MATIC stored on a crypto exchange is vulnerable to hacks, theft, or mismanagement. Any money you leave on an exchange could be lost or stolen if there’s a weakness in the platform’s security, or it acts in an improper way.
  • Crypto deposits are typically uninsured. Whereas traditional financial assets are generally protected by a form of deposit insurance, backed by the financial regulator, only a handful of crypto platforms offer this for digital assets as well.
  • Polygon is reliant on Ethereum’s success. Any issue with the Ethereum network, or fall in its popularity, would be likely to affect Polygon as well. Polygon’s independent value is limited to some extent.

Improvements to the Ethereum network could make Polygon obsolete. The more the Ethereum network upgrades itself and continues to improve, the less of a unique selling point Polygon may have.

Is it safe to buy Polygon?

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Yes, as long as you choose a crypto exchange that’s licensed to operate and which stores customer funds securely.

Look for a service that boasts several licences, has been independently audited, and keeps customer funds in cold storage, separate from the money it uses to fund its operations.

Although crypto exchanges typically don’t offer the same investor protection as traditional financial markets, these features offer security against most nefarious activity.

Here is a comparison of where the top Polygon exchanges are licensed, and by which financial bodies.

Region eToro regulators Plus500 regulators Public regulators
Africa FSAS FSA
Asia
Australasia ASIC ASIC, FMA
Europe FCA, CySEC, DNB, AMF, OAM, MFSA FCA, CySEC
International
North America FinCEN, FINRA
South America
View more > Visit eToro > Visit Plus500 > Visit Public >

It’s important to remember that these security features don’t protect you against price volatility, and you can still lose money if MATIC’s price goes down. 

Next steps: How do I store Polygon (MATIC)?

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Once you’ve bought MATIC, you have two options: keep it in your crypto exchange account or move it to a dedicated crypto wallet.

A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option.

However, after the dramatic collapse of exchanges like FTX, where casual investors lost the crypto they had entrusted to a third-party platform, you may prefer to have more control over your money. 

A MATIC wallet is like your personal wallet, or a safe, where your money is stored behind a unique private key (effectively a long password). These services are commonly known as ‘self-custodial’ wallets, meaning that you control access to your money.

Two of the best Polygon wallets to use are MetaMask and the Ledger Nano S.

Bottom line: Is now a good time to buy Polygon?

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The answer depends on the current price and your own investment goals. Put simply, buying Polygon, selling Polygon, and trading MATIC are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.

  • If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Polygon.
  • As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of Polygon and its decentralised aggregator platform, then a good time to purchase Polygon is on any major dip.

In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Polygon and selling it the next day probably isn’t why you’re here either.

Regardless, closely following MATIC price news & analysis will help you decide when to pull the trigger.

Latest Polygon developments

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Polygon’s MATIC is among the cryptos poised for massive surges this year, with various optimistic facets at play. The project ended inflation within the ecosystem after releasing all tokens into circulation last week. Moreover, Polygon is an Ethereum Layer2 solution, and its latest developments amid
Polygon has completed its last unlock event by transferring MATIC worth around $253 million, 273 million coins, to the Matic Foundation wallet from the project’s vesting contract. The transaction remains significant as the project enters full asset circulation. That will boost liquidity and MA
MATIC/USDT chart and technical analysis MATIC/USDT is in a bearish trend and the price almost dropped 28% in the last two weeks. Currently, the price is making a correction and will likely retest the 0.7600 resistance level before heading for new lows. The 0.7600 is a key resistance level from where
Get started with Polygon

FAQs

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Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.