Ethereum known for its vast and distinctive network capabilities separates itself from much of the cryptocurrency world. Such prowess has toted Ethereum as the second most popular crypto behind Bitcoin.
As a result, many frameworks such as MATIC are being developed to make use of and improve the functionality of the Ethereum network.
What is Polygon (MATIC)?
Polygon, previously known as the MATIC Network is a framework for creating and connecting Ethereum-compatible blockchain networks.
This framework sets to address some of the known faults of the Ethereum network such as efficiency among transactions and lack of community governance.
The predecessor MATIC processed transactions off-chain before heading to the Ethereum network. Polygon provides one platform for creating interoperable blockchains that can be tailored to a developer’s needs.
How Does Polygon (MATIC) Help Ethereum?
Polygon (MATIC) helps Ethereum with some of its most known problems, especially on efficiency and fees. Polygon will help developers build secure and faster off-chain transactions.
Where to Buy MATIC (Polygon)?
Despite the name-change, Polygon still uses the same token, known as MATIC. In turn, the MATIC token is still currently one of the Top 100 largest cryptocurrencies by market cap and benefits from thriving liquidity.
This token is used in the Polygon network for purposes such as governance, security via staking as well as payment of fees.
To buy MATIC on popular cryptocurrency platforms like Binance and Coinbase is quite simple.
How to Buy MATIC on Binance:
After logging in, head over to the “Trade” section and click on “Convert”.
Once there, specify how much of USDT (1:1 USD equivalent) you would to convert to MATIC.
Next, change the conversion to MATIC using the dropdown menu in the “To” field.
Once that is done, hit “Preview Conversion” and then click “Convert” to complete the conversion.
How to Buy MATIC on Coinbase?
Once you login, click “Buy / Sell” on the top right.
Once there, click “Convert” and specify how much of your balance you want to convert.
Then, choose Polygon (MATIC) in the “To” section using the dropdown menu.
Once that is done, click “Preview Convert” and click convert to complete the conversion.
Outlook for MATIC and Polygon
In the past month of May, $MATIC was able to create a new all-time high near 2.73. This is a good sign to see as for much May many of the popular cryptos such as Bitcoin and Ethereum have had faced losses.
In fact, during the major selloff of cryptos on May 23rd, MATIC showed the greatest recovery of all coins by going from a low of 0.75 to 2.45. This is an excellent sign for a token that is based on Ethereum’s network.
Ethereum is looking to rebound back higher and as a result, MATIC should follow along. Currently, the price is trading at 1.80 which is fairly cheap for a token that is making sizeable improvements on the already solid network of Ethereum.
This may be a great investment that can grow substantially in the next few years. Of course, this isn’t investment advice, and we recommend everyone to do their own research. But the problems that MATIC solves and current confidence in its usefulness show great potential.