How to buy and hold MATIC with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for Polygon (MATIC) storage
Ultimate security, only you have access to your Polygon tokens
Send, Receive, Store your Polygon tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange Polygon (MATIC) directly in the wallet
Stake Polygon (MATIC) by connecting Wigwam to the popular DeFi dApps
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MATIC (Polygon) token
MATIC token is a native cryptocurrency and gas token for the Polygon (ex Matic) network.
About Polygon network
Matic Network is a Layer 2 scaling solution for Ethereum that was founded in 2017. The main problem that the network planned to solve was Ethereum scalability issues. In 2019, the team behind the Matic network conducted an ICO, where the MATIC token was introduced to the public as an ERC-20 token on Ethereum. In 2021, the Matic network was officially renamed to the Polygon network. This action showed a significant shift from being a just Ethereum-related scalable solution to a multi-chain system that is able to support Optimistic Rollups, zkRollups, and other scalable Layer 2 blockchains.
Matic Use Cases
- Transaction fees - MATIC is used for paying transaction fees on the Polygon network, the same as the ETH token used for the Ethereum blockchain.
- Staking - users may stake MATIC on the Polygon network to support the network's operations and security and receive staking rewards in return. The staking APR has been in the range of 4% to 7% and depends on the token staked amount, network conditions, validator performance, and commissions.
- Governance - by having MATIC, anyone may participate in governance decisions with a direct impact on the Polygon network development
- As a means of Payment - Matic is used as a main payment method on various NFT marketplaces and other Polygon applications.
- DeFI token - many DeFi projects on the Polygon blockchain use MATIC as a main token to form trading pairs and liquidity pools, use it as a borrow and lend token, etc.
The MATIC token has a circulating supply of 9.3B tokens out of a total supply of 10B tokens, and it is created with the speed of 2 MATIC per 2 seconds (as a reward for a block generation) or 3600 MATIC per hour. In the case of blockchain popularization, the token value may increase.
However, before buying MATIC tokens, you need to conduct research and check marketing conditions; the team plans further network development, how fast new projects are created on Polygon, what new competitor solutions appear on the market, and how they impact the Polygon ecosystem. Also, you should remember that all cryptocurrencies are highly volatile, and investment in them may cause a loss of your funds.
Since MATIC is the native currency of the Polygon network, all the difficulties associated with this blockchain's development can affect the token's fate. In particular, despite significantly better scalability than Ethereum at the beginning, Polygon needs to introduce a number of innovations to compete with Ethereum 2.0 and new Layer 2 blockchains.
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
You may buy MATIC tokens on different centralized exchanges, such as Binance, Kraken, Coinbase, etc. Also, you may use our Wigwam crypto wallet and buy MATIC in a few minutes and have full control over your stored crypto funds.
Yes, You may stake MATIC and earn from 4 to 7% APR on your locked token amount. To stake these tokens, you should choose a crypto wallet that supports staking or other services that allow you to stake MATIC. Some popular options are Metamask, Trust wallet, Matic wallet, Coinbase wallet, etc. Also, you should remember that if you want to unstake your tokens, you need to wait a locked period of 80 hours before your tokens become available.
We advise you to use different blockchain explorers such as Polygonscan (the Polygon equivalent of Etherscan), Blockchair, or BscScan. Visit a blockchain explorer, enter your wallet address, and track all wallet activities.
To add a token to your wallet, you should be sure that the wallet supports the Polygon network and tokens in the ERC-20 standard. By default, all popular multi-token wallets support MATIC; however, if you have sent tokens into your wallet but don't see them, try to add information about the token manually. Click the "Add token" button in your wallet, enter token details: MATIC token address: 0x7D1AfA7B718fb893dB30A3aBc0Cfc608AaCfeBB0, symbol: MATIC, decimals: 18. Confirm and save this data. After this action, you should see a token in your wallet.
MATIC is considered a high-volatility token and has all the risks associated with cryptocurrencies, such as market, regulatory, technological, and economic risks. Before investing in MATIC or any cryptocurrency, conducting thorough research and considering your financial situation, investment goals, and risk tolerance is crucial.