How to Buy Polygon (MATIC) in Australia – Buy MATIC in Under 5 Minutes

Fact Checked by Gary McFarlane

Polygon (MATIC) has been a popular token throughout 2021 parallel to the widespread adoption of smart contracts and Ethereum blockchain technology. Polygon was first deployed on the test net in October 2017 and since those days it has proven itself as a major Ethereum scalability solution. If you are dipping your toes in the altcoin ocean, learning how to buy Polygon is a great place to start.

This how to buy Polygon Australia guide will provide a step-by-step breakdown of the process involved in purchasing MATIC tokens while covering some of the most ideal exchanges and how to use them. Here we discuss the pros and cons of various crypto exchanges alongside a rich resource of considerations involved in buying MATIC.

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How to Buy Polygon (MATIC) in Australia – The Quick Four-Step Strategy

  • Step 1: Sign up to eToro: Get started with an account on a reliable crypto platform such as eToro to purchase MATIC.
  • Step 2: Verify your ID: Upload your selfie and photos of your government-issued ID for verification.
  • Step 3: Deposit fiat funds: Deposit fiat money such as USD or AUD to start buying Polygon MATIC among other cryptocurrencies.
  • Step 4: Buy Polygon (MATIC) in Australia: Search for Polygon or MATIC on your chosen platform and proceed to buy Polygon (MATIC).

Where to Buy Polygon (MATIC) in Australia

Surveys suggest that approximately 1 million Australians have holdings of cryptocurrency and that Bitcoin ownership might have already surpassed gold ownership in the innovative-friendly country. With institutions and high net-worth individuals joining the crypto investors club we might be able to continue to see more developments and increased trading activity in this space.

MATIC is a strong candidate for speculation since it’s already a top 25 coin with a staggering $9 billion market capitalization. So, how can you purchase your first Polygon (MATIC) in Australia? We have listed a number of alternative crypto exchanges where you can purchase MATIC tokens and scrutinized these exchanges from different aspects most investors usually pay attention to.

1. eToro – Overall Best Broker to Buy Polygon (MATIC) in Australia

eToro has been a renowned multi-asset platform operating since 2007. Cryptocurrency trading feature was added to eToro as early as in the year 2013. This platform allows the users to trade in stocks, commodities, CFDs, and lastly, our favorite alternative asset recently; cryptocurrencies. Currently, the platform supports 80+ cryptocurrencies including BTC, ETH, and MATIC.

One of the advantageous characteristics of eToro is its adoption across traders with different levels of experience. While advanced features cater to a set of expert-level investors, innovative features of eToro, copy trading, along demo trading accounts, offer a smooth onboarding experience to beginner-level traders.

eToro allows its users to make zero-fee deposits and take advantage of simplified operational burdens so they can focus on what matters regarding markets, due diligence, and trading strategies.

Pros

  • The platform doesn’t charge deposit fees
  • eToro and its trading tools are readily available on the web globally
  • Offers a well-appreciated mobile app for trading
  • Demo account can be used to get ready for the real trading strategies and general practice
  • eToro is a regulated cryptocurrency exchange
  • Offers 24/7 customer support

Cons

  • Users need a minimum of $250 as a deposit before starting their trading journey
  • AI robots and other advanced features can be tricky for novice users and traders

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. CoinSpot – Exchange to Buy Polygon (MATIC) in Australia with Advanced Security Systems

CoinSpot has been one of the predominant crypto exchanges, having its routes in Australia, it might be an attractive option for investors in this region. It is one of the earlier platforms that allowed users to trade in various cryptocurrencies.

CoinSpot started their operations in 2013 and have not backed down ever since. To begin with, CoinSpot has over 290+ different cryptocurrencies such as BTC, ETH, LTC, MATIC, and various others in the list. As per the latest reporting, the platform had around 1M+ users, making it one of the most popular crypto exchanges in Australia and in the world. The platform headquarter is currently located in Melbourne, Australia.

CoinSpot also offers OTC trading as well as crypto bundles. These bundles are curations of cryptocurrency baskets that can be purchased by investors. Some of the options are Top-3 bundle, NFT bundle, DeFi bundle, Green bundle, and Social bundle. Additionally, the company has started offering features such as live chat support, allowing users to talk to get help in real-time.

A vast majority of deposit methods offered by the platform can also come in handy. Some of the options are Bank Transfer, OSKO, BPAY, POLI, PayID, Cryptocurrency, and also, cash. Additionally, for extended security, CoinSpot offers two-factor authorization and best practices to stop phishing attacks.

Pros

  • CoinSpot is backed by ISO 27001 certification and registered with AUSTRAC.
  • The platform’s referral program allows the user to earn $10 AUD for every successfully verified account.
  • Innovative features such as bundles of cryptocurrencies to help mitigate risks.
  • The chat support feature, which is available 24×7, is a great benefit.
  • The registration process is simple and hassle-free, and one can start trading within minutes.
  • Support all major coins and many altcoins
  • Convenient payment methods
  • Friendly interface for beginners

Cons

  • The currency deposits are limited to just AUD or Australian Dollars.
  • The platform doesn’t support credit card deposits.
  • No phone calls. Customer Service is limited to chatting

67% of all retail investor accounts lose money when trading CFDs with this provider.

3. Swyftx – Popular Platform to Buy Polygon (MATIC) in Australia

Swyftx is another market leader when it comes to the Australian Cryptocurrency Market. This platform was established in the year 2017 and allows users to trade on more than 270+ cryptocurrencies today. Swyftx' headquarters are located in Brisbane, Australia.

Additionally, the platform is regulated by the AUSTRAC, the Australian regulation body and it also complies with the KYC and AML regulations. Additionally, factors such as biometric authentication, two-factor account protection, and heavy reliance on penetration testing make this platform extraordinarily safe and secure.

The platform is an ideal starting point for both novice traders and experienced traders. The interface of Swyftx is highly intuitive and easy to navigate. The platform can be accessed via desktop as well as mobile applications, thus offering flexibility to the traders. A live chat support facility is available to the end-user, thereby facilitating ease and simplicity for resolving queries. Swyftx has spent heavily on their software and user interface improvements, and yet they have a relatively small fee per trade which is around 0.6%.

Per our online research, analysis, and understanding, Swyftx is a cost-effective option for beginner traders and offers a relatively good value. Another great advantage is that Swyftx doesn’t charge any deposit or withdrawal fees if debit or credit cards are utilized. You can also grab $10 worth of BTC allocated to the new user promotions.

Pros

  • Deposits into the platform can be made via debit and credit cards.
  • The interface is adaptive and user-friendly.
  • The “sign-up” process is relatively shorter and allows for a quick trading experience.
  • More than 270+ cryptocurrencies are available to trade including MATIC.
  • Live chat support is easy to use and open 24/7.

Cons

  • The deposit currency is limited to just AUD.
  • The platform mainly caters to the Australian population and doesn’t have a very global scope.

67% of all retail investor accounts lose money when trading CFDs with this provider.

Purchasing Polygon (MATIC) - Is it a Good Investment?

Polygon (MATIC) is certainly one of the most disruptive blockchain technologies which work in tandem with the Ethereum blockchain. It was first deployed in April 2019 and this blockchain technology managed to fly under the radars for almost 2 years seeing its first major price movements starting from January 2021.

Investing in cryptocurrencies is a highly speculative action, however, many investors and even finance professionals are starting to realize the diversification benefits of this truly innovative field. Allocation of funds will depend on one's risk appetite yet MATIC is certainly a worthy crypto-asset to consider in a successful portfolio.

There are many dynamics that would define the strength of MATIC's price such as competition, adoption, the popularity of Ethereum blockchain, developments in the MATIC ecosystem, handling security risks and establishing good measures, and always changing regulatory scope are only a few of them.

Regarding the price speculation, we are seeing analysts that highly believe Polygon (MATIC) will see $100 per token price level as the crypto adoption continues. Given that the Polygon platform and blockchain technology are still in their infancy this staggeringly high looking number might not be so far fetched. After all, Bitcoin started with baby steps as well and came a long way from being priced at $0.0009 per BTC less than a decade ago to being $50,000+ per BTC today. MATIC has already done a 75X price move during 2021 and we will continue to watch this cryptocurrency very closely.

The Advantages of Buying Polygon (MATIC)

Polygon(or also as known as its token's name MATIC) is an L2 (layer-two) scaling solution for Ethereum blockchain. Polygon makes Ethereum technology more accessible and more efficient through a number of innovations. These improvements haven't gone unnoticed and today, it has support from major players in the crypto world including Binance and Coinbase.

So, let us talk about the advantages of the Polygon MATIC:

Potential Upside: As mentioned above MATIC has serious support from industry giants. This is usually a very positive trait. Moreover, many analysts and speculators believe MATIC's price discovery will potentially continue all the way up to $100. The future seems bright for MATIC technology and this token might add robust value and diversification to a crypto portfolio.

Portfolio Optimization: Decoupled from BTC. Polygon or MATIC usually has a weak correlation to the Bitcoin price which further provides a nice tool for crypto-asset diversification and optimized risk management. For example, May 2021 wasn't the best month for Bitcoin markets. BTC plunged from approximately $60K to $35K during may losing nearly 40% of its total value. MATIC however, during the same month, behaved in a completely different manner. As for May 1st, 2021, it was trading at $0.88, and it surged all the way up to $1.88 at the end of the month on 31st May 2021. A return of 130% for investors in a matter of one month while crypto markets are having great difficulty even staying lateral.

Value Proposal: Polygon has a relatively faster transaction per second capacity and this causes very positive feedback in the crypto community and real industries alike. In the fall of 2018, Deloitte made some recommendations to maximize the likelihood of cryptocurrency adoptions in functional implementations. Hence, MATIC adopted some of those recommendations and delivered solutions which made its transaction capacity reach 65,000 tps. Moreover, it uses a plasma framework built on POS, which allowed several partnerships on the global level.

The Disadvantages of Buying Polygon (MATIC)

High-Velocity Innovations: The momentum of MATIC might potentially slow down after the realization of POS systems in Ethereum V2. The layer two scaling functions were only implemented to counter the slow processing network speed since Ethereum could only process 15-30 transactions per second, a highly ineffective number considering the astonishing developments in DeFi ecosystems today. To counter the scalability issue, Vitalik and his team planned to launch Ethereum 2.0 with the aim of processing 100,000 transactions per second. Many people still believe this upgrade won't be practical for many years to come helping MATIC establish itself further in the decentralized world.

Regulatory Ambiguity: Historically, the market of cryptocurrency has been deeply affected by the speculative and ambiguous speeches given by the authorities. China imposed stringent policies on mining and banned cryptocurrencies too many times. However, it seems like, with the help of increased decentralization, many application layers, and adaptation to numerous regulatory mishaps majority of the crypto ecosystem might have gained great resilience. Coin and token prices seem to be impacted less and less by the fluctuations in the outside world and lately, even when S&P 500 tanked for weeks, most cryptocurrencies including MATIC, ETH, and BTC remained unbothered. Having said that lack of regulatory clarity can still pose a risk to the crypto values, MATIC being one of them, and result in aggressive sell-offs if hodlers decide to do so.

How Much Does it Cost to Buy Polygon (MATIC) in Australia

Polygon's token is known by the MATIC ticker and it costs close to $1.25 as of October 7, 2021. Given the nature of altcoins, we are seeing high volatility and occasional price corrections even a crash. However, it's also fair to say that the overall trend has been quite strong so far.

If you have invested $1000 into MATIC early this year (January 2021), this amount would get you approximately 59K MATIC tokens. This amount of MATICs would equal approximately $75K suggesting a mind-blowing 75X return in less than a year. With an investment of $1000, investors can only get approximately 770 MATIC tokens as of today instead of 59K at the beginning of the year.

Purchasing Polygon (MATIC) - How to Pay for It

We have seen historical price levels and fundamental dynamics of the MATIC token. So, how can investors buy MATIC in Australia? And how to pay for MATIC tokens during the purchase? We will try to answer these questions with quite a few alternative payment methods in this section to help make it as straightforward as possible for the investors.

Paypal

PayPal is a great method of adding funds to your trading platform. If you already have a PayPal account you can transfer or deposit funds at the convenience of logging in to your account. The only shortcoming of this method is that not every crypto exchange accepts deposits via PayPal unfortunately.

eToro conveniently offers deposits via PayPal which can be very convenient for investors who are already familiar with the digital money platform. You can top-up your account with fiat money directly using your PayPal on eToro and your balance can be used to purchase Polygon (MATIC) afterwards.

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Direct Transfers

Bank Transfer is yet another popular method to deposit fiat money on exchanges in order to purchase MATIC tokens in Australia. The main advantage of using direct bank transfers is that you can transfer funds using your local bank while incurring as few fee charges as possible on your account. This cost-friendly option can be ideal for people who are planning to buy MATIC on an ongoing basis (for example $250 each month) or for investors who are planning to make MATIC purchases with large sums.

For bank transfers, you need a crypto exchange account first, and then you can navigate to the “bank transfer” or “direct transfer” sections. You can continue with your deposit following these steps:

  • Choose direct transfer option and fiat currency to proceed with such as AUD (Australian Dollar)
  • Obtain transfer details for the bank transfer to your exchange account
  • Make sure to include little details such as MEMO or NOTE information
  • Proceed with your bank transfer accordingly from your online banking platform
  • Once your fiat is deposited to your exchange account, you can continue to “Purchase Polygon (MATIC)”

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Buy Polygon (MATIC) using a Credit/Debit Card

Purchasing cryptocurrency (or in this case MATIC specifically) via debit/credit card is also very similar to the bank transfer except you have to fill in your credit or debit card details in this case. While card deposits can be slightly costlier with %0.5 to 2% card fees charged on each deposit if you are in a rush or unable to make bank transfers this method can be ideal to go with.

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How to Buy Polygon (MATIC) – A Full eToro Guide

Step 1: Signup for an eToro Account

eToro is a popular choice among millions of investors and we believe it provides the most bang for the buck. Both novice traders and experts can benefit from the many crypto trading features this platform offers and you should be able to purchase MATIC coins hassle-free. Sign-up is easy and it takes a few seconds. Then you might need a few documents such as a valid ID to continue making crypto investments on the platform. Here are the steps involved in the sign-up process:

  • Full Name
  • Date of Birth
  • Government-issued picture ID/Passport
  • Utility bill photo (for address verification in some regions)

Step 2: Verify your Trading Account

Verification is a regulatory step but it's pretty straightforward and involves taking a couple of pics. For KYC verification you can simply upload a valid ID, utility bill (address proof required in some regions), and possibly a selfie. Once these photos are uploaded, your eToro account will be verified shortly (usually in 15 minutes).

Step 3: Fund your Trading Account

After verification is completed you will be a KYC-verified account. This means you can now start investing in cryptocurrencies including (Polygon (MATIC)). But one more thing left before purchasing MATIC. You'll need to deposit your account some fiat so it can be used to make crypto purchases. eToro allows PayPal deposits among many other convenient options such as; bank transfer and debit/credit card purchases without deposit fees. Your transfer will be reflected in your account in a matter of seconds after the transfer is complete.

Step 4: Buy Polygon (MATIC) Today

At this stage, you’ll be ready to purchase Polygon (MATIC) tokens. Search for MATIC in the exchange or buy section of the crypto platform you are using and by clicking buy MATIC or trade MATIC/USD you should be able to buy your Polygon (MATIC) tokens. Congratulations on your Polygon (MATIC) purchase on eToro!

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Conclusion

In this article, we learned how to purchase Polygon (MATIC) in Australia. We discussed different crypto exchanges available, their pros and cons, fee structures, and different payment methods. Choosing the right crypto exchange can be important since you need to feel confident with your platform while trading. Going with a well-known exchange can be beneficial from this aspect.

Currently, you can legally purchase Polygon (MATIC) in Australia and add this technology to your portfolio among other crypto assets. Australia has been a progressive and fintech-friendly country that managed to perform the right amount of regulations without hindering the innovations occurring in the blockchain ecosystem and Australian residents are fortunate to have many different options to choose from when it comes to crypto trading.

#1 Crypto Exchange Vietnam – eToro

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

FAQs

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About Umut Sagir PRO INVESTOR

Finance and Tech professional. Founder of HolyPython.com. In recent years, Umut helped reputable clients such as MasterCard New York HQ, Deutsche Bank, FluidAI, Danske Commodities, EvoShave and others with cutting-edge technology implementations and financial research.