How to Buy Polygon (MATIC)

Polygon is a unique blockchain solution designed to address the problems associated with blockchain architectures. Discover the basic understanding of the Polygon Network.

How to Buy MATIC

  1. Create a Coinbase account - We recommend using Coinbase as it offers $5 in free Bitcoin when you sign-up.
  2. Add a payment method - Add your payment method and fund your account.
  3. Research the coin - Search for the coin by name or ticker symbol - MATIC.
  4. Decide the amount of coins - Now it is time to decide how many coins you want to buy of Polygon.
  5. Purchase coins of MATIC - Buy the amount of coins you want with at the current price on Coinbase.

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The ability to create new blockchains within the Polygon network means that the overall network size should increase as more and more projects use it.

The core team has experience with blockchain protocols that can potentially help them secure future partnerships. Furthermore, their financial background should also make it easier to engage in high-value business relationships.

These factors make Polygon a potentially lucrative option for investors.

What is Polygon?

Polygon (MATIC) is an open-source framework and protocol designed to build and connect Ethereum blockchains. It is a blockchain technology-based decentralized platform that allows users to share, monitor, and manage tokenized assets.

It targets making the process of funding, investing, and trading easy by using blockchain technology.  One of the main problems with Ethereum is that it doesn't scale very well.

Whereas centralized solutions can handle almost unlimited transactions, blockchain networks can only manage a handful of them due to restrictions.

The Polygon protocol intends to provide a high level of security across any number of Ethereum blockchains. You can think of the network as a mesh, with each blockchain being one point on the mesh. 

How Does Polygon Work?

All blockchains can communicate by propagating messages via the Polygon Architecture. There are three layers to Polygon’s structure:

  • Heimdall – validates the Proof-of-stake process on Polygon
  • Bor – responsible for aggregating transactions into blocks.
  • Staking and Plasma smart contracts – management for the Proof-of-Stake layer and validator shares

This structure makes Polygon a decentralized, scalable blockchain that can support more blockchains with fewer nodes.  As developers build increasingly complex decentralized applications (dApps), this scalability issue has become more of a problem.

As a layer-2 scaling solution, Polygon aims to enable developers with a set of tools that will allow them to build more complex decentralized applications.

The Polygon blockchain architecture allows users to build new blockchains within the network. It could be applied across an entire industry if companies see value in creating their decentralized applications and decentralized apps.

The idea behind Polygon is that it will be able to scale beyond thousands of transactions with ease while also delivering high levels of security.

Validators are responsible for verifying transactions, processing blocks, and voting on which new partnership to include in the blockchain. 

Polygon (MATIC) Price Today

Who Are The Founders of Polygon (MATIC)?

Polygon was first introduced to the market by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun in 2017. Kanani, Naiwal, and Arjun are India's first three Crypto Billionaires. 

Kanani, who leads the team at Polygon, is a seasoned developer with a knack for scaling techniques. The rest of the team has extensive experience managing and expanding software.

How Many Are Polygon (MATIC) Tokens in Circulation?

The Polygon token has a fixed quantity of 10 billion tokens, of which about 7.46 billion are currently in use. As a result, limiting MATIC collection would render it deflationary, implying that it will likely appreciate over time.

The generation of Polygon tokens happens via a mining process, which involves contributing computational power from your device in exchange for a chance to win a mining reward.

In this system, computing power from independent systems works together to solve challenging mathematical problems and add new blocks to the blockchain.

The Polygon network's proof of stake approach to mining uses 99.95 percent less electricity than Ethereum.

How is Polygon Secured?

Polygon's design means that the network will have a series of blockchains secured through a proof-of-work consensus.  The Polygon architecture operates through a voting protocol where each node submits votes for the block it wants to see included in the blockchain.

It's a voting protocol because the nodes only vote for one block, but owners must aggregate their votes.  The securing mechanism used for this blockchain architecture helps to limit the possibility of centralization, which should ensure that no single group of miners controls 51% or more of the total hashing power. 

Anyone would require an incredible sum of money and resources to gain those shares in an attempt to manipulate the market. Even then, they would be risking billions of dollars in the takeover as the network will probably lose value.

What Makes Polygon Unique?

Polygon's protocol allows any number of blockchains to communicate with each other. Developers will use Polygon's blockchain architecture to build their additional blockchains.

The Polygon network is the only scalability solution for Ethereum that allows developers to create blockchains with fewer nodes. The Polygon protocol developers benefit from the shared security across the web, ensuring that no single blockchain can influence another. 

The ability to create multiple blockchains (a mesh-like design) means that each of these blockchains can be built on its own and then connected to the more extensive Polygon protocol. 

Polygon supports different scaling solutions, which means developers will have various tools to work with when developing new decentralized applications.

Polygon Alternatives

Should I Invest in Polygon?

Polygon's blockchain architecture creates entire networks within the protocol designed to be used as an alternative or addition to today's scaling solutions so you can incorporate it into new decentralized applications.

The ability for developers to use Polygon as a foundation for their blockchains means that Polygon has the potential to be used by an entire industry.

This ability makes Polygon a viable option for investors interested in blockchain technology, as it can provide early access to new ideas and potentially lucrative revenue streams down the road. 

The ability to create new blockchains within the Polygon network means that the overall network size should increase as more and more projects use it.

Polygon is a blockchain architecture rather than just a currency and also makes it appealing for investors, as many other cryptocurrencies are making similar moves.

Most importantly, however, is the team behind Polygon. The leadership team is well-versed in the cryptocurrency industry, including working with other blockchain protocols like Bitcoin and Ethereum.

The core team behind Polygon has extensive experience in financial services, which should help secure future partnerships with over seven thousand decentralized apps that have been built on Ethereum since it launched.

To help scale the network, developers have floated several potential solutions over the years, including sharding and off-chain transactions.

The Polygon team claims that their blockchain architecture will allow decentralized applications to scale significantly lower costs than other scaling solutions designed for Ethereum. 

The potential uses for Polygon are immense, with many different businesses already planning to adopt blockchain technology into their operations in one form or another.

For more information on Polygon (MATIC), including current price, market cap, technical info, and investment opportunities, reach out to us.


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