Polygon (MATIC) is a popular cryptocurrency that has been gaining traction in the crypto space. One of the most popular exchanges for buying and trading Polygon is Binance. In this guide, we will walk you through the steps on how to buy MATIC on Binance.
Where To Buy Polygon?
Are you wondering where to buy Polygon (Matic) crypto?
Some of the most popular exchanges to buy MATIC include Binance, Coinbase, KuCoin, and Kraken. When choosing an exchange to buy MATIC, it's important to consider factors such as fees, security, user interface, and supported payment methods. It's also important to note that some exchanges may not be available in certain countries or regions.
Step-By-Step Guide On How To Buy Polygon:
Follow the below steps to buy Polygon using the Binance exchange. If you want to stake your Polygon to get yield, check out our guide on the best staking platforms for Polygon in 2023.
Step 1: Register for a Binance account
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The first step is to register for a Binance account, if you already have a Binance account, you can skip this step.
To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also simply use the main sign-up with an email or phone option.
After completing this step, you will receive an email confirmation from Binance.
Create an account using your personal phone number or email address on Binance. Registering as an entity if you are looking to buy Polygon as a Limited company business on the Binance exchange is also an option.
Step 2: Verify your identity on Binance
Before you can buy MATIC on Binance, you will need to verify your identity. To do this, click on the "Profile" button on the top right-hand corner of the page and select "Identity Verification."
Follow the instructions provided by Binance to complete the verification process.
To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.
Step 3: Buy MATIC
There are numerous ways to buy Polygon on the Binance exchange, and it all comes down to your preference. We will explore some popular ways to buy Polygon on Binance.
Option 1: Fund your Binance account with crypto
This method is helpful for anyone who owns crypto in other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Polygon with Bitcoin as Binance supports trading BTC/MATIC pair.
After verifying your identity, you can fund your Binance account with Crypto. To do this, click on the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy MATIC.
On the deposit Crypto page, choose the crypto (in this case, we have selected bitcoin) and its network. Binance will generate a bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed in the network, Binance will credit the Crypto for you.
Convert Bitcoin Crypto to Polygon (MATIC)
After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you can convert your crypto to MATIC.
There are two ways to convert your crypto to MATIC: Market order or Limit order.
Buying MATIC with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.
Buying MATIC with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.
The above screenshot shows an example of placing a limit order to buy Polygon using BNB. You can click on the bars icon next to the limit button to show the price chart of your selected crypto convert pair. Click on Confirm order to get 900 MATIC tokens into your account.
Congrats! You have now bought Polygon by funding your Binance account with crypto and using Binance Convert.
Option 2: Fund your Binance account with Fiat
This option will benefit you if you prefer to fund your account with your preferred fiat currency beforehand. Customers can fund their Binance account with fiat currency via direct bank transfer or credit/debit card.
When using the Bank transfer method to fund your account, make sure to follow the below tips:
Your bank account name must match the name registered to your Binance account.
Please include your full name in your bank transfer's Reference/Remark section.
If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.
After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.
As shown above, buy Polygon immediately with your preferred fiat currency! You will get an estimated price of MATIC based on the currency of choice, and you simply enter the desired amount of MATIC to buy and confirm the order.
Congrats! You have now bought MATIC by funding your Binance account with fiat currency and using a Binance Cash balance.
Option 3: Buy Polygon with a Credit/Debit Card (Popular method to buy Polygon)
To buy MATIC on Binance using a Credit or Debit card, navigate to the Buy crypto via card page using the top page navigation menu.
On the buy crypto with card page, you will see various options to choose the fiat currency to buy Polygon. Enter the desired amount of MATIC tokens to buy and click Continue.
Alternatively, you have the choice to buy MATIC on a recurring basis. This is when you regularly invest in cryptocurrency with a pre-determined amount and accumulate your crypto holdings over time. If you are committed to the long-term growth of Polygon and bullish on its future price predictions, this is a great way to DCA into the Polygon project.
In the payment method section, if you just created your Binance account, add the card details you will use to purchase MATIC.
Once you have entered the card details, you must review the order details to ensure they are correct. If everything looks good, click the "Buy MATIC" button to complete the purchase.
Congrats! You have now bought MATIC by funding with your Credit/Debit card!
Step 4: Buy Polygon
Buy Polygon with Paypal: Binance does not currently support purchasing Polygon (MATIC) directly with PayPal. However, you can still use PayPal to buy cryptocurrencies on other platforms and then transfer those funds to your Binance account to purchase Polygon. Other exchanges, such as Coinbase support Paypal payment methods to buy crypto. If you have an existing PayPal account, you'll be able to start making transactions on Coinbase right away.
Buy Polygon with a credit card on Binance exchange: To Add a credit card, Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card". Follow the prompts to add your credit card details.
Buy Polygon with Debit Card: To Add a debit card: Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card". Follow the prompts to add your debit card details.
How to Buy Polygon with Apple Pay and Google Pay on Binance
The following steps will guide you through how to buy Polygon using Apple Pay & Google Pay.
- Log in to your Binance account and click Buy Crypto with Credit/Debit Card.
2. Select the fiat currency according to your country and then select Polygon crypto to buy from the list. Enter the amount and click Continue.
3. After choosing MATIC to Buy, Select Apple Pay or Google Pay as the payment method.
4. Once you have successfully added/chosen your credit/debit card, click Confirm to proceed. Check the payment details carefully and confirm your order within 1 minute, or else after the 1-minute mark, the price and the amount of crypto will be recalculated. You can click Refresh to see the latest market price.
Congrats! You have now bought Polygon on Binance using your preferred Google or Apple pay.
Step 5: Withdraw MATIC from Binance
After buying MATIC on Binance, you may want to withdraw it to a hard or soft wallet you control. To do this, click the "Withdraw" button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your MATIC. Ensure you enter the correct address, as transactions on the blockchain are irreversible.
You must also enter the amount of MATIC you want to withdraw. Once you have entered the correct wallet address and the amount of MATIC you want to withdraw, click on the "Submit" button. Binance will then process your withdrawal request, and your MATIC will be sent to the wallet address you provided.
Tips for buying MATIC on Binance
- Always double-check your order details before placing a trade to ensure everything is correct.
- Consider using the "Limit" order type instead of the "Market" order type when buying MATIC. With a limit order, you can set the price you are willing to pay for MATIC, whereas, with a market order, you will pay the current market price for MATIC, which may not be the best price.
- Consider using two-factor authentication (2FA) to enhance security after registration.
10 Reasons To Buy Polygon Right Now
Should I buy Polygon? If you are considering whether you should buy Polygon or not, then the below points may provide some clarity about the project.
- Lower Transaction Fees: Polygon (MATIC) has significantly lower transaction fees compared to the Ethereum network. Buying Polygon could be a more cost-effective option for users.
- Faster Transactions: As an Ethereum Layer 2 scaling solution, Polygon processes transactions faster than Ethereum. It's a huge boost for scalability and user experience.
- Strong Development Team: Polygon has a highly experienced development team that continuously works on improving the platform and building new features.
- Increasing Adoption: Polygon has been gaining popularity and adoption, with more developers and projects utilizing the platform.
- Interoperability: Polygon is interoperable with Ethereum, meaning that Ethereum-based assets can be easily transferred to and from the Polygon network.
- High Scalability: Polygon is highly scalable, allowing for faster and cheaper transactions even during peak network usage.
- Decentralized Finance (DeFi): Polygon has a thriving DeFi ecosystem with several projects and protocols offering various financial services, including lending, borrowing, and staking.
- Gaming: Polygon's low gas fees and flexibility have motivated many gaming projects to build and grow on the ecosystem. Several blockchain games
- Polygon has a growing gaming ecosystem, with several blockchain games already operating on the network.
- NFTs: Polygon is becoming increasingly popular for creating and trading Non-Fungible Tokens (NFTs), which are unique digital assets that can represent art, music, and other forms of creative content.
- Strong Community: Polygon has a strong and growing community of developers, traders, and enthusiasts who believe in the long-term potential of the platform.
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How to buy Polygon in the Philippines?
Choose a cryptocurrency exchange that supports Polygon trading. Binance is one of the best places to buy Polygon in the Philippines. Binance is also one of the cheapest ways to buy Polygon in the Philippines.
How to buy Polygon in India?
Binance is one of the best places to buy Polygon in India. Binance is also one of the cheapest ways to buy Polygon.
Where to buy Polygon in the UK?
Choose a cryptocurrency exchange that supports Polygon trading. Binance is one of the best places to buy Polygon in the UK.
How to buy Polygon in Australia?
Binance is one of the best places to buy Polygon in Australia. Binance is also one of the cheapest ways to buy Polygon.
How to buy Polygon in Brazil?
Choose a cryptocurrency exchange that supports Polygon trading. Binance is one of the best places to buy Polygon in Brazil.
Where to buy Polygon in the US?
Choose a cryptocurrency exchange that supports Polygon trading. Coinbase is one of the best places to buy Polygon in the US.