How To Buy MATIC Instantly in Australia

As a layer-2 scaling solution built on top of the Ethereum blockchain, much like other cryptocurrencies, like Arbitrum (ARB) and Optimism, Polygon aims to address the scalability limitations of Ethereum. But unlike its two previously mentioned counterparts, Polygon potentially offers more flexibility and customization opportunities. 

Polygon goes beyond the scope of the tightly-knit crypto community of connoisseurs in-the-know. Its partnerships with household names in and out of crypto's inner circle, such as Disney, Aave, OpenSea, QuickSwap, Chainlink, and Animoca Brands, substantially contributed to its popularity and, in some cases, even price. 

The good news for all Australian enthusiasts looking to diversify their portfolios with promising cryptocurrencies beyond the most popular choices like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Shiba Inu (SHIB) is that Polygon (MATIC) is readily available for purchase on CEX.IO. 

In this article, we discover how to buy Polygon (MATIC) instantly on CEX.IO. 

What is Polygon (MATIC) Network?

As mentioned earlier, Polygon is a layer-2 solution aiming to offer improved scalability, interoperability, and flexibility compared to Ethereum. It uses a modular structure that allows this platform to support the creation of various decentralized applications (dApps) and sidechains with different consensus mechanisms, virtual machines, and governing models. 

It was created in 2017 by Jaynti Kanani, Anurag Arjun, Sandeep Nailwal, and Mihailo Bjelic. The project initially started as a sidechain solution for Ethereum. It later evolved to become a potentially more flexible and scalable platform than its main competitor or predecessor, depending on the angle of approach. 

Polygon's native cryptocurrency is MATIC. This token is used for various purposes within the ecosystem, such as paying transaction fees, staking for network security, and governance. 

Where to buy MATIC in Australia?

Like many other cryptocurrencies, MATIC is available for purchase on various decentralized and centralized exchanges, including CEX.IO, which allows Aussie enthusiasts to purchase not only MATIC but also a range of other popular cryptocurrencies. 

In addition to a wide range of assets, our platform also offers Australian customers to participate in CEX.IO Staking, allowing them to potentially earn crypto rewards by allocating a portion of their MATIC holdings. 

However, our staking services may be unavailable to users in certain locations due to varying regulations. We recommend that all Aussie enthusiasts interested in receiving crypto rewards conduct thorough research and ensure they are eligible to stake MATIC before purchasing this crypto on our exchange. 

What is the best app to buy MATIC in Australia?

There are several ways Australian enthusiasts can buy MATIC. Web browser platforms are among the most popular choices among countless crypto aficionados. For those seeking a mobile-first experience, dedicated cryptocurrency apps offer a convenient solution.

However, finding the best mobile application is no easy task. One must conduct thorough research and find multiple trustful sources to learn more about each app before downloading the one that suits their needs the best. 

One way to find the best app is to look for online reviews (though this doesn't necessarily have to be the main reason or deal-breaker). For instance, if you look at the CEX.IO Mobile app reviews, you can find many positive impressions from countless users. In addition, our app enjoys a high user rating on Google Play, with an average score of 4,4 out of 5 stars. 

Still, regardless of the impressions of anonymous people, the litmus test for any app is to simply download it to access its functionality. Does it offer secure storage, diverse payment methods, and real-time market data? Can you easily track your portfolio and set up price alerts?

Step-by-Step Guide: How to Buy MATIC in Australia

For those who picked CEX.IO as their primary avenue for purchasing crypto in Australia, we outline the steps to buy MATIC instantly through our beginner-friendly feature, Instant Buy. The procedure goes as follows: 

1. Register and verify your account with CEX.IO. 
2. Navigate to Instant Buy from the dashboard. 
3. Choose MATIC as your preferred cryptocurrency from the list of vetted assets. 
4. Select the fiat currency you want to use for the purchase. Remember, CEX.IO currently supports USD, GBP, and EUR, which means your AUD will be automatically converted to a selected fiat currency. 
5. Specify the amount you want to spend for the MATIC purchase. You can enter the amount manually or choose among the preselected allotments. 
6. Choose your preferred payment method. 
7. Follow the on-screen instructions to complete the transaction. 

Payment methods

CEX.IO offers a vast selection of payment methods for eligible Australian customers. Credit and debit cards are among the most popular payment gateways, supporting cards from all major banks in Australia. Additionally, it's good to know Aussie users can also utilize their Revolut and Wise debit cards to fund their MATIC purchases. 

Beyond bank cards, our platform also supports: 

• Google and Apple Pay
• Neteller
• Skrill
• MoneyGram
• Bank transfers 
• Other cryptocurrencies (crypto payments from external wallets)

However, participants from Australia should bear in mind the availability of specific payment methods. Like in the case of PayPal (also supported by CEX.IO), which is available to U.S.-based users only, other payment methods from the list above may also be restricted in Australia. 

We advise all Australia-based customers to conduct due diligence and research the availability of specific payment methods in their respective jurisdictions. 

FAQs

What is the best way to buy MATIC?

While there's no single answer to this question, there are some general guidelines that can help curious participants acquire MATIC safely and securely. Interested parties should research the best crypto exchanges, their security features, commissions, fees, and available payment methods. Only when all these, and many other conditions are met, enthusiasts should proceed with the purchase. 

How long does it take to buy MATIC?

The time it takes for MATIC to reflect on one's account depends primarily on the payment method. For example, it takes between 2 and 7 days for bank transfers to complete, while credit and debit cards often process transactions instantly or within an hour from the moment the user confirms the transaction. 

What are the fees for buying MATIC?

The cost of acquiring MATIC can vary across different exchanges and payment methods. Each platform has its unique fee structure, which users should carefully compare. Bank transfers, though slower, generally offer lower fees compared to credit or debit card transactions, which may incur additional charges.

Where to store MATIC?

Australian customers can store their MATIC in custodial and non-custodial wallets. Users should be mindful that each solution brings its own unique advantages and disadvantages. For example, non-custodial wallets keep users' private keys offline, but they also come with a hefty price tag. On the other hand, custodial wallets, like the one Aussie customers receive by registering on CEX.IO, can only work online but are easier to navigate and come free of charge.