Polygon (formerly known as Matic Network) is an Ethereum-based platform that aims to support the advances of decentralised applications, as scalability has been identified as an issue. Additionally, Polygon seeks to address Ethereum’s biggest challenges like high transaction fees and poor user experience. This is achieved through the utilisation of off-chain computing and processing, through decentralised proof of stake (PoS) validation to ensure security. While the Matic Network was simply a layer-2 scaling solution for the Ethereum network, Polygon is the platform required for scaling collaborative blockchains.
The Polygon Network has adaptations resulting in faster, lower-cost 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 cryptocurrencies 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: direct debit, POLI, PayID or credit/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.
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.
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 has lower spreads and cheaper trading fees when you buy, sell and trade MATIC, than our closest Australian competitors.
Verify your account is under 2 minutes and deposit funds to start trading Polygon.
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.Create a free account
Deposit and Withdraw AUD via PayID, OSKO, Bank Transfer & POLi
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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.