What is MATIC coin? Introduction to platforms that can buy and sell MATIC coins

MATIC, Polygon's native token, enables transaction fees, network security through validator rewards, and governance participation via MATIC token holder votes.

Oct 03, 2024 at 06:36 am

What is MATIC Coin?

Polygon's MATIC coin is a utility token that serves various functions within the Polygon network, a layer-2 scaling solution for the Ethereum blockchain. MATIC is primarily used for:

• Transaction and Gas Fees: MATIC covers gas fees for transactions executed on the Polygon network, reducing congestion and transaction costs on Ethereum.
• Network Security: Validators who participate in securing the Polygon network receive MATIC rewards for their contributions.
• Governance: MATIC token holders can participate in Polygon's governance system by submitting and voting on proposals that shape the future of the platform.

Platforms to Buy and Sell MATIC Coin

MATIC can be traded on various cryptocurrency exchanges, including:

1. Binance: The largest cryptocurrency exchange by trading volume, Binance offers a wide range of altcoins, including MATIC.
2. Coinbase: A beginner-friendly exchange known for its user interface and security features.
3. Kraken: A US-based exchange with high liquidity and a long-standing reputation.
4. Gemini: A regulated exchange with strong security measures and a focus on compliance.
5. Crypto.com: A mobile-first exchange with a growing presence in the cryptocurrency market.
6. OKEx: A global exchange with a large user base and support for a wide range of cryptocurrencies.
7. KuCoin: A popular altcoin exchange with competitive trading fees and a strong community.

Steps to Buy MATIC Coin

1. Create an account: Register on one of the above-listed exchanges and complete the required verification steps.
2. Deposit funds: Transfer funds to your exchange account via bank transfer, credit card, or another supported payment method.
3. Place an order: Navigate to the MATIC/USD or MATIC/USDT trading pair and specify the amount of MATIC you wish to purchase, along with the price.
4. Confirm the transaction: Review the order details and click "Buy" to execute the transaction.

Steps to Sell MATIC Coin

1. Transfer MATIC: Move your MATIC tokens to the exchange account where you wish to sell them.
2. Create a sell order: Locate the MATIC/USD or MATIC/USDT trading pair and specify the amount of MATIC you want to sell, along with the desired price.
3. Confirm the transaction: Check the order details and click "Sell" to execute the transaction.