Ethereum scaling protocol Polygon (MATIC) performed well during bearish conditions lately, and has bounced higher than most mid- to large-cap coins
After sustaining heavy losses over the weekend, the crypto market is showing some signs of a tentative recovery today, with many coins in the green on the day. Polygon’s MATIC token is leading the charge among the most capitalised coins, and has so far charted 10% gains over the last 24 hours.
While sideways price action has generally prevailed over the last couple of months, Polygon could be the standard bearer the market needs if it can mount a serious momentum reversal. If you want to purchase MATIC today, read on to find out how and where to buy Polygon.
How & where to buy Polygon in the UK and elsewhere
As a coin with a high market capitalisation, Polygon is available to purchase from virtually every exchange and broker platform out there. We’ve shortlisted a couple below to make your choice easier: simply choose one, sign up, make a deposit, and start trading. Every platform we recommend on our website is fully regulated and legally compliant, meaning you’ll never have to worry about the safety and security of your hard-earned funds.
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What is Polygon?
Polygon has been one of the most talked about cryptocurrencies of this bull market due to its rapid development and adoption coinciding with Ethereum’s most acute scaling problems so far. Polygon is an Ethereum-compatible Layer 2 sidechain that allows transactions to be completed off the Layer 1 Ethereum blockchain. Transactions made on Polygon have much lower gas fees and complete far more quickly than on Ethereum itself, but maintain security and cryptography standards by linking back to the main Ethereum ecosystem.
Billionaire investor Mark Cuban, owner of NBA team The Dallas Mavericks, recently made headlines in the cryptosphere when he announced that he had invested in Polygon, which was seen as a major mainstream co-sign for the protocol. Formerly known as Matic, the network’s legacy is preserved in the name of its token, which remained the same (MATIC) even after the Polygon rebrand.
Should I buy MATIC today?
MATIC is high on the lists of many cryptocurrency experts due to its highly relevant use case. With Ethereum’s scaling issues unlikely to be solved by a native upgrade anytime soon (ETH 2.0 and the transition to proof-of-stake are notoriously delay-prone), Polygon is likely to be a core element of the Ethereum ecosystem for quite some time to come.
Many novice traders look to successful investors for hints as to what works and what doesn’t, and Mark Cuban’s endorsement certainly goes some way to confirming the validity of MATIC as a good investment. Add to this Polygon’s impressive 10% bounce today, and there’s a strong case that MATIC is a “buy”.