Buy MATIC crypto (polygon): Is now the time to invest before The Merge?

With the excitement around decentralized finance, non-fungible tokens, and metaverses comes real challenges for the blockchains that provide these services. Ethereum, the most popular blockchain in the industry, suffered greatly, becoming almost inoperative due to excessive costs.

The Polygon solution (formerly called Matic) appears as an alternative, allowing low-cost transactions on the Ethereum blockchain without sacrificing security. Matic, Polygon's native cryptocurrency, saw its value increase by more than 30% since its listing on the stock exchange.

However, with the advent of The Ethereum Merge scheduled for September, we can ask ourselves the question of the relevance of MATIC.

Will the craze around MATIC crypto continue in the coming years? What are future prospects for MATIC ? And, more importantly, what are the advantages and disadvantages of such an investment? This tutorial compiles all the answers.

MATIC crypto: What is it?

Polygon is a layer 2 scalability solution (Layer 2). Its protocol allows resolve the different limitations encountered by most layer 1 protocols like Ethereum, Eos, Avalanche, Tron, and many others.

MATIC's objective since 2017 is to create a more open ecosystem by resolving the flaws in the blockchain Ethereum.

Matic Network announced in February 2021 that it becomes Polygon in order to transform Ethereum into a true multi-chain network and put an end to the exorbitant fees of the Ethereum blockchain, while promoting rapid transactions.

Polygon's beliefs include Web3 for everyone. It offers a decentralized platform that allows developers to create scalable and social applications with a focus on security.

How does the Polygon (Matic) blockchain work?

The Polygon blockchain is subdivided into four layers:

• The Ethereum Layer: this consists of a set of contracts implemented on Ethereum, which manage the finality of operations, staking and communication between the Polygon and Ethereum chains.
• Polygon layer: This represents the entire ecosystem of blockchains built on Polygon. It is responsible for managing consensus and block production.
• Security layer: This is the one that provides additional security thanks to validators.
• Execution layer: This is responsible for implementing the Ethereum Virtual Machine in order to execute smart contracts.

Technologies used by Polygon (Matic)

Polygon uses various technologies to offer a complete solution:

• MATIC Pos Chains: This is Polygon's main channel. Its role is to secure the blockchain with the Proof-of-stake consensus mechanism.
• Zk-rollups: a protocol for consolidating a large number of off-chain transactions into a single transaction.
• Plasma Chain: This is a technology that provides communication between assets on the main chain and child chains via plasma bridges.
• Optimistic rollups: A solution that allows instant transactions.

What are the future prospects for crypto Matic

MATIC debuted on the market in April 2019 with a ridiculous price of 0,0025 euro. With its attractive offer, it quickly attracted the interest of investors. In 2020, the Matic reached 0,023 euros before collapsing due to uncertainty caused by the Covid-19 pandemic in March.

During 2021, Matic Network becomes Polygon.

He has since had a glorious year, going from 0,014 at the start of the year to 2,23 euros in May. To be more specific, Ethereum network congestion is the driving force that pushed Polygon towards this price.

Will Polygon continue to attract investor interest?

Is the project at a crossroads? 

Polygon is not at the end of its surprises. Recently, Polygon formed a partnership with the British startup Nothing to launch your own smartphone. This may recall the recent release of SAGA phone from Solana. Additionally, the company is tackling various diverse topics such as Polygon ID in order to offer a new decentralized and private identity support. 

Polygon has just revealed ZkEVM, a second layer solution based on zkRollup and compatible with EVM-Ethereum. This method is designed to aggregate transactions, compress them, and publish them to the Ethereum network using a zero-knowledge proof.

We can't predict what Polygon will be like in the next few years, and the uncertainty created by the transition from proof of work to proof of stake for the Ethereum blockchain doesn't make things any easier for us.

Indeed, some believe that with the Merge, the enthusiasm for Ethereum will be contagious for all solutions linked to the network. Others believe, on the contrary, that Ethereum will be more powerful and therefore less dependent on various solutions.

However, Vitalik Buterin has repeatedly stated that after The Merge, layer 2 solutions would be just as useful.

To the best of my mind.

The team's efforts show that they are committed to providing quality service and that the future of Polygon remains bright.

You can explore the subject by reading our article on the consequences of the Ethereum update on layers 2.

Where to buy Polygon (Matic) crypto safely

The most recommended method to purchase Matic is to use a reputable platform which allows you to exchange fiat currency for Matic tokens.

Cyberattacks have brought down several exchange platforms, including MtGox. And, even today, many platforms continue to be prime targets for hackers. Therefore, it is important to exercise caution when choosing a platform to avoid being a victim of fraud.

As the majority of cryptocurrency exchanges are unregulated, users should consider the reputation of the broker, the age of the platform and the number of users.

What is the status of the Binance platform in terms buying Matic cryptocurrency? Our platform evaluation can be viewed here.

Buy Matic crypto on Binance: A better solution?

Binance made its market debut in 2017 presenting a secure and self-explanatory platform. It takes advantage of the euphoria around cryptocurrencies and gradually establishes itself by offering a wide range of cryptocurrencies and almost all services related to cryptocurrencies.

Today, the Binance platform has unrivaled trading volume, and nearly 90 million users. Indeed, Binance offers a complete platform that allows investors to benefit from several features such as Staking, buying, selling and trading cryptocurrencies, peer-to-peer exchange, leverage, borrowing, and a multitude of other features. 

How to buy Polygon(Matic) crypto

The good news with Binance is that the interface is intuitive. Simply follow these few steps:

1. Visit lBinance website
2. Complete your email address or phone number
3. Enter your password and accept the terms of use
4. Click on 'Register'
5. Validate your email by clicking on the link sent in your email.
6. Verify your profile by providing some additional information (country, ID card, proof of residence) in order to combat illegal activities
7. Click on the tab “Buy cryptos”
8. Choose a method of payment (e.g. credit card, bank transfer, etc.)
9. Select Polygon (MATIC) from the assets.

How to Stake Polygon (Matic)

Unlike Bitcoin, which uses proof of work as a consensus mechanism to ensure security, the Bitcoin protocol Polygon is based on proof of stake (PoS). This method, known colloquially as Staking, allows transactions to be validated by blocking Matic tokens in the system for a specific period of time. When the deadline is over, they are rewarded with Matic tokens.

Users who hold a large amount of tokens have a greater chance of being chosen by the protocol. It is for this reason that there are currently several platforms allowing users to block their tokens and receive a percentage for a certain period.

Due to the popularity of cryptocurrencies, these platforms compete for attention, and some of them do not provide quality services. We have screened a large number of platforms to present to you one of the most viable options.

Mycontainer: Best staking platform for beginners 

MyContainer is a staking platform that allows you to have passive income on more than 100 coins of cryptocurrencies using the Proof-of-Stake consensus mechanism. This is the case of Polygon (MATIC) which appears on this list. Via this platform, it is possible to achieve a return of 11.9% per year.

One of the best features of the platform is its self-explanatory nature. Simply deposit or purchase Matic tokens to start earning immediately. Additionally, rewards are generated daily, and users can withdraw them at any time.

Among the other characteristics of MyContainer includes the possibility of trading MATIC tokens at the best market rates. Please feel free to try the platform and give us your feedback.

What is the best wallet to store Polygon?

To send, receive, store and track ownership of cryptocurrencies, it is essential to have a wallet. How to proceed ? Nowadays, there are several wallets available. Some prioritize security, while others prioritize convenience. The Polygon is compatible with all types of wallets.

First, if you want to send and receive MATIC tokens, you need to create a wallet. The latter gives you the public key, which is used as the receiving address, and the private key which is essential to digitally sign all transactions.

Although there are several wallets, they are often categorized into two:

• Cold Wallet or cold wallet
• Hot Wallet or hot wallet (linked to the internet and therefore subject to attacks).

—–> See our article on the different types of crypto wallets

Cold Wallet or Hardware Wallet

This is a support that allows you to save cryptocurrencies offline, de facto, far from pirates. This is the type of wallet you should use to store large sums of money for the long term. It costs between 50 and 100 euros. Ex : Ledger, and safepal

Hot Wallet or Software Wallet

This is an application that allows you to save cryptocurrencies on a medium connected to the internet such as a computer or smartphone. To use one, simply download it for free and configure it. Ex : Metamask, the SafePal app.

——> See the tutorial to learn how install Polygon on Metamask

Should you buy Polygon (Matic) crypto?

The price of Matic, like that of all cryptocurrencies, varies in all directions with each passing second. It makes bullish and bearish variations depending on supply and demand. 

The general state of the market, as well as the acceptance of the Polygon protocol are key factors influencing the price of Matic. Currently, the Polygon platform records 135 million unique addresses, 100 validators who protect its network, 145 developers of smart contracts, more than 2 billion total transactions since its creation et 4 billion matic staked (Staked). 

In addition, the site by Polygon states that more than 19 decentralized applications have opted for Polygon in order to improve their performance.

Polygon continues to captivate the world with its tempting offering year after year. Some well-known companies now prefer launch their products on the Polygon ecosystem. Instagram chose Polygon to launch non-fungible tokens, Stripe introduced monetary payments using Polygon, and Adidas Original and Prada have both launched Polygon NFT collections.

But does that mean there are no risks? Not at all, we'll go over the pros of investing in the Matic before tackling the cons.

The Advantages of Investing in Matic

1. Polygon (Matic) is able to take full advantage of Ethereum network effects
2. Polygon (Matic) is inherently safer
3. Polygon (Matic) is more open and powerful.
4. Polygon (Matic) promotes a favorable experience for developers.
5. Polygon (Matic) supports various use cases (NFT, challenge, games, etc)
6. Polygon (Matic) offers instant transfer of multiple Erc-20 tokens.

The Risks of Investing in Matic

1. The crypto market is characterized by high price volatility.
2. Competition is tough in the crypto sphere, particularly in terms of layer 2.
3. The future of Polygon mainly draws its strength from the problems of other blockchains
4. Ethereum is accelerating its transition from proof of work to proof of stake.

Conclusion on investing in Matic cryptocurrency

Polygon was able to take advantage of the inadequacies of the Ethereum network by offering a secure, fast and scalable infrastructure. For the moment, it is paying off. 

In fact, a growing number of developers see Polygon a way to manage millions of transactions without incurring high fees or jeopardizing security, while investors see in Matic a cryptocurrency with growth potential.

Polygon not only makes transactions fast, it also supports the development of a multitude of Ethereum-based applications through its flexible infrastructure called Polygon Sdk.

However, keep in mind that the Polygon protocol is not exclusive to Ethereum. Its approach has a better chance of expanding its scope by making other blockchains like Polkadot, Solana et Cardano more scalable without sacrificing security.

Go further :

• Understand the Polygon solution : the superhero of Ethereum?
• Understand layers 2.
• The impact of The Merge on layers 2

FAQ: Buying Polygon (Matic) crypto

How to buy Polygon (Matic) crypto?

To purchase Matic cryptocurrency, you must first open an account on an exchange, verify your identity, and then proceed to purchase by selecting the appropriate payment method. 

What was the lowest price of Polygon (Matic) crypto?

The lowest price of Matic is around 0,0026 euros during its initial sale on April 24, 2019

What was the highest price of Matic crypto?

The highest price was reached on December 27, 2021 around 2.88 euros.

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Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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