Table of Contents
What is Polygon
A group of members created the Polygon coin in October 2017. The Polygon creators include Sandeep Nailwal, Anurag Arjun, and Jayanti Kanani. The primary purpose of the Polygon framework is to create interconnected blockchain networks. Mainly Polygon aids in solving some of the commonly notable Ethereum shortcomings. Some of these Ethereum shortcomings include poor user experience and the lack of community governance. Polygon helps to improve the challenge of poor user experience. Polygon presents transactions at high speed and not delaying transactions. Therefore, you can argue that Polygon creates scaling solutions fast for better investment. In addition, Polygon tends to boost Ethereum’s transactions without adjusting the network’s security or the user’s experience. Generally, Polygon creators have created Polygon’s scaling mechanism. However, creators ensure that Polygon solves Ethereum’s shortcomings without endangering Ethereum’s nature.
What is MATIC
MATIC is Polygon’s network native cryptocurrency. The rebrand of the MATIC Network to Polygon took place in February 2021. Currently, Polygon still owns MATIC as its cryptocurrency. In the Polygon Network, you may use MATIC for several purposes. One of the most vital MATIC uses is that owners have the right to vote on some governance-related issues. Through voting, a MATIC token holder can also contribute to improving the network’s security. Nonetheless, you need to have MATIC in your wallet to be eligible to participate in voting. Most of the time, tokens holders use the Polygon coin for transaction payments and gas fee payments on investment purpose. Polygon (MATIC) currently has a maximum token supply of 10 billion tokens.
Polygon (MATIC) price history
July 2019- December 2019
During the start of this period, Polygon’s token was $0.022. In August, the price decreased to $0.0114 and increased slightly in September to $0.0118. The coin’s worth also depreciated in October to $0.0109. However, the token’s worth increased in November and December to $0.0137 and $0.029, respectively. The highest price that MATIC attained was $0.0431 in December during this period. On the other hand, the cryptocurrency attained a low value of $0.0096 in August.
January 2020- December 2020
In January 2020, Polygon’s token was worth $0.0138. The price appreciated in February and March to $0.0179 and $0.0203, respectively. In April, the coin’s worth had decreased drastically to $0.011. The price then appreciated in May and June to $0.0155 and $0.0204, respectively. In July, the coin’s price dropped to $0.019 but increased to $0.0203 in August. The token’s worth in September, $0.0266, was also an increase from the previous month. However, the price decreased in October and November. In these two months, the coin’s price was $0.0202 and $0.0137, respectively. Finally, the coin averaged a price of $0.0196 in December. The coin reached the highest value of $0.032. On the other hand, the coin’s lowest price during this period was $0.007 in March.
January 2021- December 2021
During the start of this period, MATIC was worth $0.0176. The price then skyrocketed to $0.0383 in February. In March, the coin’s worth decreased to $0.2305. However, the coin’s value increased in the next few months. In April and May, MATIC’s worth was $0.3603 and $0.8207. It was a paradise if you have investment on Polygon at that moment. In June, the token’s value skyrocketed to $1.8728. Nevertheless, the cryptocurrency’s value decreased in July, which was $1.1675. The price further decreased in August, and its new value was $1.083. Nonetheless, MATIC’s value appreciated in September to $1.3378. In October, the value depreciated to $1.1271 only to appreciate in November to $1.9406. However, MATIC’s value decreased in December to $1.7832. The highest price that MATIC attained was $2.9232 in December during this period. On the other hand, the lowest price that MATIC reached during this period was $0.0173 in January.
Polygon (MATIC) price history summary
Undoubtedly, based on the token’s price history, you can identify its history price curve. For that reason, the table below is the detailed MATIC’s history price from July 2019 to December 2021.
|Year||Maximum Price||Minimum Price|
|July 2019- December 2019||$0.0431||$0.0096|
|January 2020- December 2020||$0.0324||$0.007|
|January 2021- December 2021||$2.9232||$0.0173|
Comparison between Polygon (MATIC) and other cryptocurrencies
Bitcoin vs. Polygon (MATIC)
Traders and investors have continuously compared MATIC and other cryptocurrencies such as Bitcoin. However, you should note that both Bitcoin and Polygon are good investment choice. Only that one may be better than the other depending on the differentiating criteria you use. Bitcoin is one of the cryptocurrencies that have been in the market for a long time. Moreover, Bitcoin is one of the most stable cryptocurrencies. One of the criteria that may differentiate MATIC and Bitcoin is community acceptance. In terms of community acceptance, Bitcoin has a higher network effect and community acceptance than MATIC.
On the other hand, you may compare the two cryptocurrencies in terms of potential investment return. You will find that Polygon (MATIC) has a higher potential return than Bitcoin. Some of the differentiating criteria may produce similar results. For example, there is mining capability for both Bitcoin and MATIC. Below is a simple comparison between Polygon (MATIC) and Bitcoin.
|It has a supply of 21 million coins.||Polygon (MATIC) has a supply of 10 billion tokens, where 6.8 billion tokens are in circulation.|
|Bitcoin blockchain typically processes roughly seven transactions per second.||Polygon blockchain may process up to 65,000 transactions per second.|
|Bitcoin is number one in the market rank.||MATIC is number fourteen in the market rank.|
Avalanche (Avax) vs. Polygon (MATIC)
Traders and investors use both Avalanche (Avax) and Polygon (MATIC) mainly for payment purposes. However, you cannot mine Avalanche (Avax), whereas mining Polygon (MATIC) is easily possible. MATIC has been long in the market than Avax. Therefore, MATIC’s stable nature in a much longer period play a huge role. Therefore, traders and potential investors may pick MATIC over Avax. However, Avax has a slightly higher market rank than MATIC. Here is a simple comparison between MATIC and Avalanche (Avax).
|Avalanche (Avax)||Polygon (MATIC)|
|There is no mining capability.||There is mining capability.|
|Avalanche (Avax) is number twelve in the market rank.||MATIC is number fourteen in the market rank.|
|The blockchain may process 4,500 transactions per second.||Polygon blockchain may process up to 65,000 transactions per second.|
|It has a supply of 720 million coins.||Polygon (MATIC) has a supply of 10 billion tokens.|
XRP vs. Polygon (MATIC)
A trader or an investor may use these two cryptocurrencies for payment purposes. However, there is a difference in the mining capability for these cryptocurrencies. The reason to state this is that you cannot mine XRP. On the other hand, you can easily mine MATIC. The two cryptocurrencies are associates themselves with some of the fastest blockchains.
|There is no mining capability.||There is mining capability.|
|XRP is number eight in the market rank.||MATIC is number fourteen in the market rank|
|It has a maximum supply of 100 billion XRP coins.||Polygon (MATIC) has a supply of 10 billion tokens.|
|It has a processing speed of 1000 times in a second.||Polygon blockchain may process up to 65,000 transactions per second.|
What do people think about Polygon (MATIC)
Most people believe that cryptocurrencies are volatile and that investing in them is riskier than other assets. However, some traders and investors still believe in investment on crypto like Polygon can make lots of profits. The volatile nature of cryptocurrencies causes drastic changes in their prices, and MATIC is not exempt. Quite a several people believe that Polygon’s native cryptocurrency is one of the best cryptocurrencies to invest in. Polygon (MATIC) has also already proven to be one of the stable cryptocurrencies in the market. As a result, traders and investors have preferred MATIC to other cryptocurrencies. Due to MATIC’s price skyrocketing; traders have opted to invest in the token. Nonetheless, as earlier stated, you should note that cryptocurrencies are volatile assets, and Polygon (MATIC) is not exempt.
Frequently asked questions
Where to buy Polygon (MATIC)
You may conveniently and easily buy Polygon (MATIC) in one of the best online exchanges. Some of these online exchanges are Bexplus, Bibox, Binance, and Bitfinex. Still, it would help to compare the trading pairs and transaction costs. In addition, compare the bonuses associated with each online exchange before hurriedly picking one. Nevertheless, you may want to pick Bexplus because it offers a unique 100% deposit bonus. However, you need to create an account with Bexplus first. This is to ensure you enjoy the benefits associated with trading with the platform.
How to mine Polygon (MATIC)
Mining any cryptocurrency may seem too complex for any average computer user. However, despite your technical skill, anyone can mine MATIC. Firstly, ensure that you have a wallet. Moreover, you should also have a public address to receive funds when mining MATIC. Here, you may use your Bexplus account. Secondly, ensure that you download the unMineable miner software. The unMineable miner is an example of an app that you can use to generate or mine different cryptocurrencies. Mostly, it would be best if you download the MFI version. Then, you should run the file you have just downloaded as an Administrator in windows. You should select mining hardware, either GPU cards or CPU. You should make sure that you charge or plug in your laptop not to shut down.
Should I buy Polygon (MATIC)
According to various investment agencies, Polygon’s (MATIC) value will continue to increase in the coming years. Therefore, there might be a need for you to invest in MATIC. However, you should note that cryptocurrencies are volatile, and MATIC is not exempt. Due to this reason, you may either incur high losses or high profits if you invest in Polygon (MATIC). As a result, you need to carry out extensive research on the coin before investing. Moreover, you should invest an amount that you don’t mind losing.
What is the future trend of Polygon (MATIC)
As earlier stated, cryptocurrencies are volatile assets. Consequently, their prices may drastically change. Despite this argument, investment agencies tend to predict the future prices of these cryptocurrencies. Luckily, Polygon (MATIC) is not an exemption. Several investment agencies have associated Polygon (MATIC) with an increase in its worth in the future. Let us take Trading Beast’s prediction for MATIC as an example.
|Year||Maximum Price||Minimum Price|
There are more than 8,000 cryptocurrencies in the market today, and Polygon (MATIC) is one. Since its launch, MATIC has shown to be a stable coin and has been having an upward trend. Therefore, many traders have been choosing Polygon over other cryptocurrencies as their investment reference. You should also note that you can easily mine MATIC. Currently, Polygon’s native cryptocurrency is number fourteen in the market rank. Most investment agencies are optimistic about MATIC’s worth in the future. Therefore, they have associated the token’s price with an increase in the future.
Then, you can buy in MATIC because there is a forecast that its price will increase. Nonetheless, investing in MATIC or any other cryptocurrency is very risky because the prices might change drastically. There are several online exchanges where you might buy, sell or invest in MATIC. However, Bexplus is the best exchange platform due to the transaction costs and trading pairs it offers. Furthermore, Bexplus offers a unique 100% deposit bonus. Additionally, you should also note that Bexplus offers a Demo account. Moreover, Bexplus has fast withdrawal transactions that do not have any time limit. It should be better to carry out extensive research on MATIC before investing. In addition, always remember to invest an amount that you don’t mind losing.