What is Polygon (MATIC)?
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Written by Ignat
Updated over a week ago

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.

Check out this article to choose the most convenient way to buy cryptocurrencies, including MATIC.

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

The world of crypto is vast and intricate - if you feel overwhelmed, check out Cryptopay Learn. It is a perfect place to start for beginners trying to understand the basics of crypto. For more experienced crypto enthusiasts, this is also an excellent opportunity to brush up on their knowledge. The more you learn, the more you earn!

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