Oleg Galeev

2 months ago

How and Where to Buy Polygon (MATIC) in Canada in 2022

How to Buy Polygon MATIC Canada featured image

Polygon (MATIC) is a layer 2 solution for Ethereum. With gas fees running into the hundreds of dollars for a single transaction, a solution is needed to help Ethereum’s scalability issues. Polygon is a side-chain that is compatible with Ethereum. It is meant to process Ethereum transactions off the main Ethereum network to help ease congestion. Anybody using Polygon can take advantage of the cheaper gas fees for making transactions.

So… How to Buy Polygon (MATIC) in Canada?

There are many Canadian crypto exchanges where you can buy Polygon since it is becoming a popular investment for Canadians. The price of MATIC has risen from just $0.05 one year ago to around $0.79 CAD today (June 6th, 2022). Polygon is considered one of the cryptocurrencies that will explode in 2022.

How to Buy Polygon (MATIC) in Canada in 2022?

To buy Polygon in Canada you need to sign up for a Canadian crypto exchange. There are many available and all you need to do is pass the verification process on your chosen exchange, deposit Canadian dollars into your account, and buy MATIC. 

Where to Buy Polygon in Canada in 2022?

Here, we have chosen some of the best Canadian crypto exchanges based on ease of use, reputation and cost to buy Polygon (MATIC):

  • Coinsmart
  • Bitbuy
  • Newton
  • NDAX
  • Binance
  • Kucoin
  • Crypto.com

Coinsmart

Many Canadians prefer buying Polygon (MATIC) through Coinsmart for a variety of reasons: low fees, fast buy/sell process, security, and so on. If you deposit over $2000 you can avoid deposit fees. Coinsmart offers great MATIC trading tools for both pros and beginners. If you do not have an account with them, do not worry. It is extremely easy to create. The best part, you don’t need to wait 3-5 days for account verification and you can start trading right away. This could be the case if the price dropped and you want to buy Polygon right away. Use this link to get free $20 with Coinsmart that you can swap over Polygon.

 

Bitbuy

Buying Polygon MATIC on Bitbuy

You can buy Polygon on Bitbuy easily. Bitbuy is one of the most compliant and most trusted crypto exchanges in Canada. It also has some of the lowest trading fees at just 0.1%/0.2%, but quite high deposit fees at 1.5%. Bitbuy has an Express platform for beginners and a Pro platform for more advanced traders looking for order book data and more advanced trading tools. If you’re a beginner, you can simply deposit Canadian dollars into your Bitbuy account using Interac e-Transfer and use it to buy Polygon. Bitbuy has a simple interface, low fees, top security, and a reputation for being one of the best crypto exchanges in Canada. Sign up with BitBuy and get $20 when you trade $250 or more.

Newton

Buying Polygon MATIC on Newton

Newton is another Canadian crypto exchange that makes it easy to buy a Polygon (MATIC) coin in Canada. With a beginner-friendly interface, Newton is a good choice if you’re looking to buy MATIC. Newton is a no-fee crypto exchange, so all deposits and withdrawals are free. However, Newton does have a higher spread than other exchanges, so you’ll pay more on trading fees. It’s still cheaper than most of the crypto exchanges. Newton is a good choice for beginners who want to buy MATIC due to its ease of use and reputation as one of the best crypto exchanges in Canada. You can sign up with Newton here and get $25 when you trade $100 or more.

NDAX

Buying Polygon MATIC on NDAX

NDAX is a Canadian crypto exchange that makes it simple to buy MATIC. You can deposit Canadian dollars via Interac e-Transfer for free and Purchase MATIC. NDAX has a good reputation for being a secure exchange, plus it has a beginner-friendly interface and good customer service reviews. You can buy Polygon on NDAX cheaply, since it has a fixed 0.2% buy and sell fee. Fiat withdrawals cost $25.  You can sign up with NDAX here.

Binance and KuCoin

Buying Polygon MATIC on Kucoin

Binance is the largest crypto exchange in the world in terms of trading volume. It offers hundreds of cryptocurrencies including Polygon (MATIC). To buy Polygon on Binance, you cannot deposit Canadian dollars via Interac e-Transfer but you can use a third-party service or a debit or credit card. You could also transfer another crypto for free and swap it for Polygon. Binance has very low trading fees and if you hold Binance Coin (BNB) you can get even lower fees. Similar to Binance is KuCoin. KuCoin also offers hundreds of cryptocurrencies, making it an ideal choice to buy MATIC in Canada. With KuCoin, there are no fiat to crypto pairs, which means that you first need to buy another crypto such as USDT and swap it for Polygon. You can transfer USDT to KuCoin, or use a credit or debit card to buy USDT on KuCoin and trade it for Polygon. Both Binance and KuCoin are similar exchanges and might be a little confusing for beginners, but if you want a wide choice of altcoins and the lowest trading fees, then Binance and KuCoin are both good options if you’re looking to buy Polygon. 

Crypto.com

Crypto.com Canada is one of the most popular crypto exchanges in the world. It’s own token (CRO) is starting to become a popular investment. Crypto.com allows Canadians to deposit Canadian dollars via Interac e-Transfer into their fiat wallet and buy Polygon directly. The fees are reasonable, though not as cheap as some other exchanges, but crypto.com is a secure and trustworthy exchange making it suitable for beginners looking to buy Polygon (MATIC). Crypto.com also offers a number of features including crypto staking and lending, crypto Visa cards, and earn and referral program, and more. We think crypto.com is one of the top crypto exchanges in the world and one of the best places to buy a Polygon coin in Canada. 

How to Keep Polygon (MATIC) Safe and Secure in Canada?

Once you buy MATIC, it’s important to keep it safe and secure. Keep your Polygon token safe by transferring it to a private crypto wallet. Crypto exchanges are vulnerable to hacks and if you leave your Polygon on an exchange there is a chance it could be stolen. Most crypto exchanges are safe, but it is still safer to move your funds to a private wallet for safekeeping. We have reviewed several of the best crypto wallets in Canada for you to choose from. 

How to Sell Polygon (MATIC) in Canada?

If you would like to sell Polygon in Canada it is as straightforward as buying it. First, transfer your Polygon token to your chosen crypto exchange. Then, go to your Polygon wallet on the exchange and click “sell”. You will have the option to sell Polygon for Canadian dollars. Once that’s done, you can go to your fiat wallet on the exchange and click “withdraw”. Here, you will have the option to withdraw the money to your bank account. It is easiest to sell your Polygon on the same exchange that you bought Polygon so that you only need to go through the verification process once. 

Polygon (MATIC) FAQs

Can you buy Polygon (MATIC) in Canada?

Yes, you can buy MATIC in Canada. Polygon has become a popular investment for Canadians.

What is the best way and place to buy Polygon (MATIC) in Canada?

We recommend you buy MATIC on one of the cryptocurrency exchanges in this article. We recommend Bitbuy, Binance, KuCoin, NDAX, Newton, or crypto.com. 

How to trade Polygon (MATIC) in Canada?

You can trade Polygon in Canada easily. Simply use your chosen crypto exchange and hit the “trade” button. You will be able to trade MATIC with any of the trading pairs listed. If you would like to trade Polygon for a wider range of altcoins, we recommend using either Binance or KuCoin as they have hundreds of cryptocurrencies available.

What is the Polygon (MATIC) price in CAD?

The price of Polygon (MATIC) in Canadian dollars as of June 6th is $078. Its market cap is $6,307,190,440. It’s changing rapidly and most likely it is different by the time you read the article.

Is Polygon (MATIC) a good investment for Canadians?

With Ethereum’s gas prices and congestion, we need layer 2 solutions to solve its scalability issues. Polygon is a layer 2 solution that is becoming more and more popular with developers and crypto users. Ethereum scaling will continue in 2022, so we think Polygon is a good investment for Canadians. 

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Author

Oleg is a crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun.