MATIC is the native token of Polygon. Its two main purposes are securing the network via staking and being used for payment of transaction fees on 400+ dapps that run on Polygon.
Polygon is an open-source project built by a decentralised team of contributors from all over the world. It combines the best features of Ethereum (security, interoperability and developer experience) and standalone blockchains (sovereignty, scalability and flexibility).
As a layer-2 scaling solution, Polygon can process up to 65k transactions per second on a single side chain, with a block confirmation time of less than two seconds.
NB: For MATIC transfers, Cryptopay supports ERC-20 network only. All the funds sent via other networks (e.g. BEP-20, PoS etc.) will be lost forever.
In compliance with the Financial Promotion Act which came into force on 8 October, 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK
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