The Rising MATIC (Polygon) Token
There’s only so much one could say about Matic, so we will attempt to sum it up in no more than two hundred trillion words…or a lot less, to give all our Stomper readers a brief overview of what this token is, how it works and what kind of potential we think it has in terms of longevity.
Buying and staking tokens are some of the easiest ways for anyone to get into the Ethereum blockchain without having to be a developer. With so many tokens launching now and then, it is getting harder for the everyday person trying to get into crypto to know which one to buy. Matic token is one of the tokens currently being used on the Ethereum blockchain.
If you are interested in knowing more about Matic token, this article is for you. I will discuss this token’s basics, including how it was created, its future, and whether it is a good long-term investment. Let’s dive in!
What is MATIC?
A Matic token is an Ethereum-based fungible token that powers Polygon – a multichain scaling solution on the Ethereum blockchain. Polygon’s goal is to improve transaction speeds and reduce the complexities and fees of crypto transactions on blockchain networks. Matic token is the native cryptocurrency on the polygon network used as a medium of exchange.
Polygon launched in 2017 in India and was initially called the Matic Network before switching to its new name in February this year. In its initial offering, Polygon sold over 1.9 billion Matic tokens to raise over $5.6 million worth of ETH. The price of the Matic token has always been ranging between $0.022 to $2.
How does Polygon (MATIC) Work?
Polygon is a protocol and framework for building and joining several Ethereum compatible blockchain networks. Creating multichain systems helps solve some of the most pressing problems on the blockchain, such as high gas fees and slow speeds, without sacrificing the platform’s security.
Matic token is the native cryptocurrency on the polygon network used as the default medium of exchange. Community members of the polygon network can also stake their Matic tokens for a given period to earn interest. This is done to maintain a good level of liquidity on the network.
Users can buy and sell Matic tokens on the Polygon network and several centralized and decentralized exchange platforms. Some of the platforms that offer Matic tokens include; Binance, Coinbase, Crypto.com, Bitfinex, Kraken, QuickSwap, UniSwap, SushiSwap, and many more.
Users on the polygon network can earn Matic tokens by providing computation resources for validating transactions and executing smart contracts. Like most of the tokens or cryptocurrencies, the supply of Matic tokens is limited to only 10 billion Matic tokens.
What Does Matic Look Like In Terms Of Investment Potential?
Fixed supply guarantees raise in value at some point
The supply of Matic tokens is limited to only 10 billion tokens. So, when we get to the point where all the 10 billion tokens are mined, this coin’s price will likely increase.
Available on all the popular exchanges
Buying and selling Matic tokens is easy since they are available on almost every popular centralized and decentralized crypto exchange platform.
Polygon is solving some of the most pressing challenges of the Ethereum blockchain
The polygon network provides scaling solutions to the Ethereum blockchain, which developers can take advantage of to build more user-friendly Dapps. As the polygon network continues to grow, their native token (Matic) will gain more potential.
Polygon is gaining mass attention due to its NFT potential.
NFTs can be bought and stored on multiple blockchains, one of which is the polygon network. The benefit to minting your NFTs on the polygon network is there are no minting costs.
How Can I Store my MATIC Safely for Long-Term Investing?
There are many ways to store your moon tickets, some being safer than others but there is truly only one wallet type that we can recommend for securely storing your MATIC tokens which conveniently leads us to our affiliated partner Trezor. We carefully choose who we are affiliated with and would never recommend anything that we wouldn’t use/choose ourselves. Trezor in our opinion is the safest way currently possible to store cryptocurrency.
Many online and software wallets and exchanges claim to have ultimate security features even including crypto “vaults”. However, these are all connected online which means they are all vulnerable to attacks, regardless of their security. Hardware wallets eliminate the possibility of your investment getting hacked or stolen by giving you the option to cold-store your crypto on your own secured wallet.
Of course, you can store MATIC on almost any exchange or wallet available now but if you’d like to know a little more information about Trezor or hardware wallets in general just follow the links below. If you purchase them by navigating directly from our website, it supports new developments and features for all of you lovely Stompy readers.
I’ve got my secure storage wallet, how can I purchase Matic to store it?
You’re in luck my friend, we don’t like to toot our own horn around here or stomp our foot but we’re going to put our foot down on this one and say that MATIC is available via our Stompy Exchange!! In fact, if you have your Trezor wallet handy you can connect directly to it via USB and trade for Ethereum directly to your Trezor storage! Of course, you can connect to other wallets as well in our exchange including Metamask and many more. MATIC is available widely on a lot of various exchanges.
A Stompy Conclusion
Overall, we give Polygon/Matic a 5/5 for investment potential. With the rise in cryptocurrency expected to quadruple within the next decade or two as well as the ever increasingly popular NFT market (You should view ours if you’re interested in collecting before we run out and our floor price increases.) we feel that MATIC and Polygon are not only going to reach the moon but quite possibly the edge of the entire known Metaverse as we know it. Couple that with the option of Staking your MATIC tokens for long term-holding and this makes a wonderful opportunity. Kudos to the MATIC/Polygon team! We implore all our readers to research this amazing token/network for yourselves as we haven’t even begun to scratch the surface in this article. Just follow the links below! Thanks for stopping by Coin Stomper!
Learn More About Polygon (MATIC)
This is NOT Financial AdviceStompy always recommends doing your own research before making investments.