Polygon (formerly known as Matic Network) is a protocol and framework consisting of an ecosystem of scaling solutions. Ethereum faces challenges like high transaction fees and slow transaction turnaround, due to the network being highly congested. Scaling solutions are technologies that aim to solve these problems by building on top of the parent blockchain. Polygon is primarily a side chain that offloads transactions onto a blockchain that runs parallel with the Ethereum blockchain but is also developing various scaling solution technologies including plasma chains, optimistic rollups, and ZK Rollups.
The Polygon Network has adaptations resulting in faster and cheaper transactions that settle on the parent chain. There has been notable success in their first venture onto the Ethereum blockchain, boasting instant ERC-20 exchanges on the network.
The MATIC token will continue to exist and also plays a pivotal role in securing the Polygon platform and enabling governance. MATIC currently sits in the top 20 biggest digital currencies by market cap.
You can buy MATIC token in Australia on the Swyftx Crypto Exchange.
You can buy Polygon on the Swyftx Crypto Exchange in Australia. First, you’ll need to sign up by providing your name, email address and phone number. To activate your account, verify your email address, phone number and identity. This step can usually be completed in a few minutes and you won’t be required to submit any documents.
Once your account has been verified, you can then deposit funds into your account via one of the following payment methods: bank transfer, POLI, PayID or debit card. Deposit times may vary depending on which option you choose, however, most deposits are received instantly. Once the deposit is received, you can buy MATIC instantly.
Polygon is a layer 2 scaling solution which means it improves the efficiency of a layer 1 blockchain (i.e. Ethereum). Its main focus is to improve its scalability and user experience and allow for instant transactions, all challenges that Ethereum currently faces. It is unique because it is the only scalability solution that supports the Etherum Virtual Machine (EVM).
At Swyftx, we consider security our top priority. We have implemented an advanced security protocol to ensure our customer’s accounts are safe. Our trade platform also has a number of advanced security features like biometric logins, breached password security and two-factor authentication (2FA). If you are concerned about security, you do have the option of withdrawing your funds and transferring them to an external wallet.
Yes, Swyftx allows customers to swap one cryptocurrency for another. This means you can use your Bitcoin to buy Polygon (MATIC) and vice versa. Additionally, you can swap a number of other crypto investments you own through the Swyftx trading app. This can save the hassle of selling out of a coin into AUD and then buying back into the coin you want to purchase.
When you buy MATIC on our trading platform, it will be automatically stored in the crypto wallet integrated with your account. A crypto wallet is required for sending, receiving and storing your digital assets. If you would like to withdraw your assets and send them to an external wallet like a hardware wallet, you can do so via the withdraw tab in your Swyftx trading app.
Swyftx allows Australian users to deposit AUD into their accounts via a debit card. Once the deposit has landed in your account, you can MATIC instantly. Swyftx also supports a number of alternative deposit methods. These methods include bank account transfer, POLi and PayID.
Swyftx has lower spreads and cheaper trading fees than our closest Australian competitors when you buy and sell Polygon.
Verify your account is under 2 minutes and deposit funds to trade MATIC.
Breached password detection and Two Factor Authentication help protect your account from scammers.
Learn to trade and gain experience with Swyftx risk free by enabling the demo mode. We even simulate real life liquidity and market depth.
Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi
Automate your crypto investments.Setup recurring deposits to your Swyftx account and have then automatically split across your own range of cryptos.
Never miss a trade or get caught out by the crypto market volatility. Set Buys and Sells to trigger at any price you want.
Easily secure your account with multi-factor authentication and biometric login. Swyftx also monitors other sites for data breaches that might result in compromises on your account.