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If you want to gain a stake in the rapidly growing crypto market, then adding Polygon to your portfolio today could be a great move. It is currently trading around the £1.50 mark, however, since its inception in 2019, it has risen an astonishing 60,000%!
Don't want to miss out on opportunities like this? Then read on for our step-by-step guide on how to buy Polygon today. We will cover some of our top brokers and also the price history, places to buy cryptocurrency, and prediction of the coin.
Polkadot is popular crypto, with a market cap of over £10bn. It is available on most popular crypto exchanges too. To save you the hassle of researching top brokers, we have put together our top 5 list for you to choose from:
2. Webull – Charges 0% commission on crypto trades.
3. Coinbase – Access to over 100 cryptocurrencies.
4. Binance – The world's largest crypto exchange.
5. Uphold – 0% deposit and withdrawal fees.
Now we have listed our top 5 sites to buy Polygon crypto with, lets take a closer look at each one, allowing you to choose your favourite.
Our number one broker pick is eToro. It has a very easy-to-navigate interface, making it great for beginner investors. The platform gives you access to over 2000 financial assets, including over 30 cryptos. In addition to this, it is FCA Regulated and charges zero commission on non-leveraged trades!
Two factors that set eToro aside from other exchanges are its social and copy trading functions. Social trading allows investors to connect with the 20 million other eToro users across the world to share trade ideas. What's more, copy trader allows you to copy some of eToro's best-performing portfolios to boost your returns.
Considering costs, eToro charges a fixed spread on all its trades. In addition to this, it charges a $5 withdrawal fee and if your account is left inactive for over a year, then a $10 fee will be charged to you. These are the only costs investors need to be aware of, however.
Opening an account is easy and can be done using either the mobile app or the website. Once an account is set up, it can be funded with a minimum of $25 before opening any real positions. Funds can be added using a variety of payment methods including debit/credit card, bank transfer, and e-wallet.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Our second pick is Webull. This platform is great as it charges zero commission on all cryptocurrency trades, making it a great value for money choice.
There is also no minimum deposit for investing. That means that theoretically, you could invest as little as $1 into your chosen asset. However, this is not likely to yield and high returns!
Webull also offers personalised accounts based on your preferred investment style. This is great as it caters to all kinds of investors. The platform also supports extended trading hours which is a great point to consider when trading equities.
Cons:
Your capital is at risk.
Coinbase is one of the most popular crypto exchanges, touting over 70 million users. It offers access to over 100 different coins and is free and easy to download on IOS, Android, and desktop.
To set up an account you must enter a username and password. At this stage, Coinbase will give you a wallet recovery key which you must remember. This can be used if you ever get locked out of your crypto wallet in the future.
A consideration you should make before using Coinbase is the fact that it charges a hefty 1.49% in fees. Webull and eToro both charge zero percent commission for comparison.
Cons:
Your capital is at risk.
Our fourth selection is Binance, the world's largest crypto exchange. It offers a whopping 500 different crypto pairs, giving investors huge choices. It also has tools for more advanced investors, allowing the ability to perform more technical analysis on cryptos.
You can easily set up an account by entering your personal details. In addition to this, it offers 24/7 customer service. One downfall of Binance, however, is that it is not available worldwide.
Cons:
Your capital is at risk.
Our final crypto broker choice is Uphold. It is a lot smaller than some of our other choices, with around 2 million users worldwide. However, to date, it has facilitated around $6bn in transaction value.
It is available in over 184 countries and allows investors access to over 70 cryptocurrencies. These include all major coins, altcoins, and emerging tokens. It also has a high user satisfaction rate, with almost 5000 reviews and 4.5 stars on the App store.
Fees are also cheap, with zero percent deposit and withdrawal fees when depositing through bank transfer. When using a debit/credit card, however, a 3.99% charge will apply.
Cons:
Your capital is at risk.
Polygon crypto combines Ethereum and sovereign blockchains into a multichain system. Whilst this sounds complicated it essentially makes these blockchains inherently more secure, open, and much more powerful.
This allows decentralised apps to be massively scaled up, and Polygon boasts that this can be done in under 30 minutes! Similar to other coins such as Polkadot, this means that Polygon yields massive real-world utility.
As mentioned above, Polygon yields massive real-world utility. Many other altcoins, such as Dogecoin are built with no utility other than to be publicly traded. Whilst these coins have still been able to grow quickly, this hype may eventually die down, as people are drawn to more useful crypto projects like Polygon. This could give Polygon some huge longevity moving forwards.
However, investing in any cryptocurrency carries substantial risk. The crypto market is extremely volatile, rising and falling by double digits daily. Lesser traded coins like Polygon are often at the more volatile end of this. For example, in the past 24 hours, Polygon has fallen 12%, whilst Bitcoin (the market leader) has fallen just under 8%. This volatility is a risk that investors should be aware of, and perhaps even consider offsetting with safer investments.
The current Polygon price is £1.57 (at the time of writing). However, as mentioned, this is down almost 12% in the last 24 hours, in line with the broader crypto market. Looking over a larger time horizon, however, Polygon has excelled. It has delivered almost 6,000% returns for investors over the past year, and 60,000% since its 2019 inception!
It is a hard task predicting crypto prices, especially considering the volatility of the markets. One thing is for sure though, as the world moves to a more decentralised future, projects like Polygon will only continue to grow in strength.
This utility is a key reason why Polygon could outlast other altcoins, and hence the price could increase in the future. However, the problem of the crypto market is so closely tied to Bitcoin is one that must be considered. If you're considering whether you should buy Bitcoin today, the BTC price keeps sliding, it could hold back the price of Polygon.
Now we have covered all the relevant information, let's go through a step-by-step guide to setting up an eToro account and purchasing Polygon.
To do this, visit the eToro homepage and click the sign-up button. eToro will prompt you to enter some personal details at this stage.
You must verify your account before adding funds. Simply provide a valid UK driver's license and proof of address, and eToro should verify your account within minutes.
The next step is to make a deposit. The minimum deposit amount is $25, and this can be added using any of the payment methods discussed above.
Simply search for Polygon and add the desired amount to your wallet!
As we have mentioned, the real-world utility of Polygon (MATIC) sets it aside from many other altcoins and could lead to its price rising again in the future. It could also be a great way to gain access into the wider, fast-growing crypto market.
We recommend buying Polkadot through our top-rated broker eToro. It's FCA Regulated and commission-free, ensuring safe, cost-efficient trading.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Polygon crypto is a decentralised, blockchain combining project, with massive real-world utility.
You can purchase Polygon on all major exchanges, including our top 5: eToro, Webull, Binance, Uphold, and Coinbase.
Simply create an account with one of the above brokers and add it to your wallet.
Yes, Polygon – along with over 100 other cryptos – is available to purchase on Coinbase.
Many analysts believe the real-world utility of projects such as Polygon makes them excellent long-term investment options. eToro is also a social trading platform where all users can network with each other via a Facebook style news feed and get other traders' thoughts on the market.
