Polygon (Previously Matic) has seen stagnant growth in the previous months, and hence it can likely be an investment opportunity. In this article, we will be going through all the steps regarding how to buy Matic on WazirX.
Summary (TL;DR)
- WazirX is an Indian crypto exchange platform that is also owned by Binance.
- Polygon, or previously Matic, is a protocol that enables developers to build and connect Ethereum-compatible networks.
- Despite the advantages of decentralized apps, the blockchain ecosystem is still not ready for its inevitable evolution.
- The platform is built on top of a plasma framework. Its decentralized nature enables it to perform complex and quick transactions.
What is WazirX?
WazirX is one of the best Indian crypto exchange platforms. As it is also owned by Binance now, it’s easier to transfer between these two crypto exchange platforms. Although there are uncertainties in cryptocurrencies’ fate in India, you can still use WazirX to trade your assets securely.
To learn more read, the WazirX review.
What is Polygon (Matic)?
With the tagline of Built by Developers for Developers, Matic was built by software engineers Jayanti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Matic, or now Polygon, is an Indian framework for connecting and building Ethereum compatible blockchain networks.
Matic solves many problems faced by Ethereum today, such as high gas fees and slow transaction speed. It aims to create a multi-chain ecosystem of blockchains that are Ethereum compatible. Its popularity rose after faster and cheaper transactions were facilitated by the polygon side chain architecture.
With the increased demand for scalability networks, polygon could run on board for many more projects. To learn more, read the Matic coin forecast: will the price continue to explode?
What is the importance of Matic?
As decentralized apps observe optimal developments, the current blockchain ecosystem is still unprepared for such a change. So the pressing issue of the slow block confirmation and high gas fees is yet to be solved before targeting mass adoption by mainstream users. Matic network primarily aims for that change by simplifying the interaction between the users and the decentralized apps.
How to buy Matic on WazirX?
One can easily buy Matic coin at WazirX by creating an account and completing the verification process.
Steps to create account and deposit funds on WazirX?
- First of all, one has to visit the WazirX website and click on the signup button.
- Now, enter the email, password, and referral code (if any), and hit the submit button is pressed.
- Verify your account with the verification code sent to your email.
- After the verification, you should enable the two-factor authentication from the settings.
- Now, head over to the profile section, link your bank account, and complete your KYC verification.
- Thereafter, go to the funds section and deposit the amount you wish to invest.
- After transferring the funds into the WazirX account, it’ll be available within 5 hours.
Steps to buying Matic Coin
- The first place to visit is the market tab from the phone or the exchange tab on the PC and search for Matic in the INR menu.
- Now, open the trading window for Matic and click on the buy/ sell button on the phone.
- The next step is to set the lowest available price to execute the order.
- Enter the amount of matic you wish to buy and hit the buy button.
- Order is successfully placed; you can keep an eye on the value of Matic you own from the account section.
Benefits of buying Matic Coin
Matric network solves the problem by building a decentralized platform that uses a very advanced version of the plasma framework according to the users’ needs. It provides a solution for faster and low-cost transactions. The Polygon protocol has the following features:
- It has a growing set of modules for custom networks that are in development.
- It offers one-click deployment of the preset blockchain networks.
- It is inherently more secure and offers Modular and Optional “security as a service.”
- Some of its main attractions are ETH compatibility, Scalability, Interoperability, Sovereignty, and Modularity.
To learn more, head over to Polygon.
How to Buy Matic Coin on WazirX: Conclusion
WazirX is an Indian crypto exchange that is owned by Binance. Its simple interface and ability to support multiple cryptocurrencies make it one of the best options to trade in India. Polygon or previously known as Matic, is a framework that enables developers to create decentralized networks that are compatible with Ethereum.
You can buy Matic at WazirX by following the above steps. However, you can also use WazirX to convert INR to USDT and then transfer it to Binance to enjoy less trading fees.
Frequently Asked Questions
How to withdraw INR from WazirX?
You can click on funds on the top bar. Then under the INR option, click on withdraw. Finally, enter the amount and confirm withdrawal with 2FA. To learn more read, the WazirX review.
How to buy Bitcoin from WazirX?
One can quickly sign up on WazirX and can complete the KYC without any hustle. After that, they can further buy or sell bitcoins or any other cryptocurrency from the trade tab after depositing funds. To learn more, read, How to buy bitcoin at WazirX?
How to convert Matic to INR?
If you own matic coins, then you can sign-up for WazirX, deposit them into your account. Then go to the INR market tab and place a sell order for the amount of matic you wish to convert.
