How to Buy Polygon (MATIC) in the USA
A Beginner’s Guide to Buying and Selling Polygon Cryptocurrency in the USA
Investing in cryptocurrencies has boomed since the beginning of this year, and most currencies have doubled or tripled in value. The reason behind the price hike is the increased need for investors to diversify their portfolios by holding some crypto assets.
Polygon (MATIC) is among the most popular cryptocurrencies in the world. Even though it is not as valuable or as popular as Bitcoin, it is still a viable investment option for most retail traders.
If you are planning to buy MATIC tokens, this is the perfect guide for you. It will take you through all the necessary steps, and in just a few minutes, you will have expanded your investment portfolio.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY POLYGON IN THE USA
- A step-by-step guide to buying MATIC in the USA
- Store your MATIC in a wallet
- How to sell MATIC
- Things to consider when buying MATIC in the USA
QUICK GUIDE: HOW TO BUY POLYGON IN THE USA
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select Polygon.
- Enter how many Polygon MATIC coins you want to buy.
- Check the details and confirm your purchase.
A step-by-step guide to buying Polygon MATIC in the USA
To buy MATIC, you need to follow these detailed steps that have been well laid out and explained in detail.
Step 1: Open an online account
The first step you need to take note of before buying MATIC tokens is to select the exchange that you want to go with.
There are many crypto exchanges in the USA, and you need to consider several factors before settling on one. The first thing you should consider is whether the exchange supports MATIC and USD.
The second factor you need to consider is the fees charged by the exchange. It is best to go with the exchange with the lowest broker fees because this will increase the amounts you can earn from your crypto trading activities.
Opening the account is also an easy and fast process. You only have to enter your names, address, phone number, and email address. Sometimes, you will have to authenticate the details you have provided by submitting a government-issued ID and a proof of address document.
Step 2: Fund the account
After opening your account, you need a means for you to buy the MATIC tokens. You can fund your account through different methods, including online payment platforms, bank accounts, credit cards, and debit cards.
If you do not want to spend USD to buy the tokens, you can also use cryptocurrencies such as BTC and ETH to exchange them with MATIC tokens. Sometimes, you will be charged a processing fee for your funding transaction to be approved.
Step 3: Buy Polygon (MATIC)
After you have funds or other cryptocurrencies in your exchange account, the next step is to buy MATIC tokens. To do this, go to the ‘buy section’ on the exchange account and enter the amount you would like to spend on your purchase.
Once you have provided these details, the next step is to confirm your transaction details, and you will later receive a notification message informing you that your transaction has been processed.
There are two ways to buy MATIC tokens, including a market order and a limit order. The market order allows you to buy MATIC tokens at the current market prices. On the other hand, a limit order allows you to buy MATIC tokens when the market prices go below a specific price.
Store your MATIC in a wallet
After you have bought your crypto tokens, you need to look for a place to store your tokens. You can store MATIC in crypto wallets that will keep them safe from any interference.
There are two main types of crypto wallets, which include hot wallets and cold wallets. Hot wallets will allow you to store your crypto tokens on an online platform, and you can later retrieve them easily and trade them whenever you need to.
On the other hand, cold wallets allow you to store your crypto tokens on an offline platform. The wallets are more secure because they will store your tokens away from any online platform that will interfere with its security. An example of a cold wallet is a hardware wallet that allows you to store crypto externally, like on a USB device.
How to Sell Polygon MATIC
If you want to sell your MATIC tokens, you can follow the same process as purchasing the tokens. Go to the sell section on the exchange account and trade your tokens for funds or other cryptocurrencies.
The amount that you have sold your MATIC tokens for will be deposited in your exchange account. Sometimes, the exchange may not permit you to exchange MATIC tokens directly to USD. In such a case, you can exchange them for other cryptocurrencies that you can sell for USD at the exchange.
Things to Consider when buying MATIC in the USA
Some of the things that you need to consider when buying MATIC tokens in the USA include the following:
Token’s future prices
One of the factors you need to assess before buying MATIC tokens is the future price. There is no sure way of knowing what the future price of a cryptocurrency will be. However, you can use the token’s activity to gauge if it will still be viable in the future. Look whether MATIC tokens are being used in developing DeFi protocols and if they are, it forms a great basis for its bright future.
The other factor you need to evaluate is the competitiveness of the crypto token. There are many crypto tokens in the market, and when investing in one, you need to make sure that other major tokens will not overshadow it. The token should be able to find its own space in the broader crypto market space.
You should know that the crypto market is highly volatile. Therefore, before deciding to invest in MATIC tokens, you need to ensure that you can comfortably accommodate the risk that comes with the trade. The volatility of cryptocurrencies comes about because the price of the tokens fluctuates rapidly.
Buying MATIC tokens in the USA is an easy process. All you need is to open an exchange account and then enter the amount of funds you want to spend to complete your transaction. It would help if you considered several things before buying MATIC tokens to ensure that you do not lose all your money by investing in this highly volatile market.
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Virtual currencies are highly volatile. Your capital is at risk.