How to get POL (ex-MATIC) coins

Purchasing POL (ex-MATIC) on cryptocurrency exchanges like Binance, Coinbase, or Kraken offers an easy entry point for acquiring these tokens, enabling participation in the Ethereum ecosystem's scaling solution.

Dec 07, 2024 at 08:45 am

How to get POL (ex-MATIC) coins

Polygon (MATIC), renamed to POL, is a layer-2 scaling solution for the Ethereum blockchain. It offers faster and cheaper transactions than the Ethereum mainnet, making it an attractive option for dApp developers and users alike.

There are several ways to get POL coins, including:

1. Buying POL on a cryptocurrency exchange

The simplest way to get POL coins is to buy them on a cryptocurrency exchange. There are many different exchanges that list POL, including Binance, Coinbase, and Kraken.

To buy POL on an exchange, you will need to create an account and deposit funds into your account. Once you have deposited funds, you can place an order to buy POL. The price of POL will vary depending on the exchange and the current market conditions.

2. Mining POL

POL can also be mined, although this is not a very profitable operation. To mine POL, you will need to have specialized hardware and software. You will also need to join a mining pool to increase your chances of finding a block.

The reward for mining a block of POL is 2 POL. However, the difficulty of mining POL is constantly increasing, making it more difficult to find blocks. As a result, mining POL is not a very profitable operation for most people.

3. Staking POL

Staking POL is another way to earn rewards. When you stake POL, you are locking up your coins for a certain period of time to help secure the network. In return, you will earn rewards in the form of POL tokens.

The amount of rewards you earn will depend on the amount of POL you stake and the length of time you stake it for. The minimum staking period is 30 days.

4. Earning POL through DeFi protocols

There are a number of DeFi protocols that allow you to earn POL rewards. These protocols include:

• Aave: Aave is a lending protocol that allows you to borrow and lend cryptocurrencies. You can earn POL rewards by lending POL to other users.
• Compound: Compound is a lending protocol that allows you to earn interest on your cryptocurrencies. You can earn POL rewards by depositing POL into a Compound pool.
• Uniswap: Uniswap is a decentralized exchange that allows you to trade cryptocurrencies. You can earn POL rewards by providing liquidity to Uniswap pools.

5. Participating in POL airdrops

From time to time, the Polygon team will airdrop POL tokens to users. Airdrops are a way to distribute tokens to a large number of people. To be eligible for an airdrop, you will need to meet certain criteria, such as holding a certain amount of POL or following the Polygon team on social media.

6. Buying POL with a credit or debit card

Some cryptocurrency exchanges allow you to buy POL with a credit or debit card. This is a convenient option for users who do not want to transfer funds from a bank account. However, you will typically pay a higher fee when you buy POL with a credit or debit card.

7. Getting POL through faucets

Faucets are websites or apps that give away small amounts of cryptocurrency for free. There are a number of POL faucets available, and you can earn a small amount of POL by completing simple tasks, such as watching videos or taking surveys.

However, it is important to note that faucets are not a reliable way to earn a significant amount of POL. The rewards are typically very small, and you will need to spend a lot of time completing tasks to earn a significant amount.