What is Polygon (MATIC) and how to exchange BTC to MATIC?

The digital currency bubble recently has been growing big, attracting a lot of next-gen millennials. Throughout the last few years, cryptocurrencies have entered the market at a rapid pace, and they are expected to have a huge impact on the market in the near future. Globally, investors have started to see cryptocurrency as a potential source of profit.

In addition to mainstream cryptocurrencies like Ether and Bitcoin, there are some emerging digital currencies which are less affected by market volatility. As a result of China's ban on the use of digital currencies, the prices of cryptocurrencies like Bitcoin, Ether, etc were affected, while other cryptocurrencies like Polygon took advantage of the situation and elevated their current position in the market.

What is Polygon?

Crypto Polygon is a platform built on the Ethereum blockchain with the purpose of developing decentralized apps. The amazing fact about Polygon digital coin is that it is not influenced by the high transaction fees due to congestion. It is considered an open-source technology that offers developers the tool to instantly implement a secure sidechain or a stand-alone network.

In simple words, it provides a solution to the scalability issue found in other cryptocurrencies built on the Ethereum blockchain, while keeping the decentralized aspect intact. Polygon is also considered a synonym of Decentralized finance (Defi) transactions. The plasma system is used in Polygon which is modified to produce low-cost transactions and to run fast.

Why is it rebranded from Matic?

Polygon was initially launched as a Matic network in 2017 and was co-founded by three Indians: Sandeep Nailwal, Anurag Arjun, and Jayanti Kanani. Earlier this year in February, the company rebranded to its current name Polygon. The reason behind this rebranding strategy was to increase the attention of the crypto community towards the Polygon coin.

One of the founders of Polygon believed that the crypto industry has become intensely competitive and rebranding would help the Indian startup to gain more attention in an industry dominated by giant western companies. Plus, the creators of Polygon coin also believe that the company has to work five times harder to get the attention of more people but once rebranded, more people would be attracted and this will help in building a global team.

Key features of Polygon?

The Polygon network is designed in such a way that it aims to be a hub to which different blockchains can easily be plugged into and its main chain is Ethereum. It aims to provide a more secure and cheaper streamlined solution for transactions conducted on the Ethereum blockchain. The network provides a sidechain to the main Ethereum Blockchain and Matic Token is used to pay transaction fees.

Polygon helps to solve the pain points associated with blockchains like slow speeds and high gas fees without sacrificing security. The Ultimate Goal of Polygon is to create an “open, borderless world” in which machines and people collaborate and exchange value freely and globally without intermediaries or gatekeepers.

How good is the functionality of the system and what makes it ideal for operations?. The system is highly scalable and a decentralized plasma operator system enables final transactions to appear on the main chain. One of the most amazing features of Polygon is that a single Polygon chain can handle almost 65000 transactions per second. Plus, the Polygon chain uses an excellent user experience system with a native mobile app and a full SDK for decentralized apps.

How to convert BTC to MATIC on Swapzone?

You can easily trade Polygon when you use Swapzone. The site helps you in entering the exchange world where you can convert BTC to MATIC. AlthoughPolygon is one of the hundred larger cryptocurrencies on the market, still there are not many reliable cryptocurrency exchanges at the moment that can help you in buying Polygon.

Swapzone can provide you assistance in transferring your currency in real-time. You can convert BTC to MATIC by following the simple steps mentioned below.

  1. Go to the Swapzone.io.
  2. Write the amount of BTC you wish to transfer in the “Send” section on the left-hand side of the screen.
  3. Then choose Polygon in the “Get Up” to box right under the Bitcoin value.
  4. You would be able to see how much in Polygon you will get off of your BTC transfer.
  5. Compare the offers over the best-rated exchanges, the timeframe for a transaction, and the best rates available.
  6. Click the exchange button on the offer you are willing to utilize.
  7. List the Ghost Wallet for the Bitcoin and the wallet that the Polygon will enter.
  8. The transaction would be completed within the timeframe stated by the site.
  9. Lastly, the Polygon exchange process will go through one of many groups that partner with Swapzone

Where to exchange MATIC coin?

As the demand for MATIC coins is increasing, people are also curious to know the platform where they can easily exchange cryptos. The process could be frustrating and time-consuming if you go through multiple exchanges and analyze different offers on different platforms to find out the best exchange rates.

Thanks to platforms like Swapzone that enable crypto users to make the best choice and swap instantly. Swapzone is the most appropriate place to exchange MATIC coins. It has made the exchange process convenient, you would get the comparison of various cryptocurrency exchanges at the best rates on this platform.

Plus, the platform shows multiple offers from different exchanges with low rates. The best part is that it does not require any registration. The platform enables users to exchange cryptos at the best rates.

Video guide on how to exchange Bitcoin to Polygon

Swapzone presents the convenience of a swapping service along with the best rate option and safety of the whole process to exchange cryptocurrency to MATIC. There is no need to use any supporting documentation, nor registration in the system.

If you’re a visual learner and want to have a better understanding of how to convert Bitcoin (BTC) to Polygon (MATIC) on Swapzone with no hassle, check out our step-by-step video tutorial:

Conclusion

The impact of market movements on mainstream digital currencies causes newly emerging cryptos to gain traction with the crypto community. It is the right time to invest in Polygon coin since it has a great future ahead.