Do not invest unless you are prepared to lose all the money you invest. Cryptoassets are high-risk investments, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Additionally, capital gains tax may apply to profits from cryptocurrency sales.

How to Buy Polygon in the UK

Updated On: Feb 27, 2024
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How to Buy Polygon UK

Contents:

How to Buy Polygon in the UK

To buy Polygon (MATIC) in the UK, you’ll need to:

  1. Create an account with a crypto exchange, such as eToro or Coinbase. A crypto exchange allows you to buy, sell, hold, and gift many kinds of cryptocurrencies, including popular coins like Polygon, Bitcoin, Ethereum, USD Coin, Solana and Dogecoin. Scroll down to see a list of crypto exchanges where you can buy and sell Polygon in the UK. You’ll need a valid ID card and payment method to create an account with most of these exchanges.

  1. Fund your account with GBP using your debit card or via bank transfer. Most crypto exchanges allow you to deposit funds using your GBP debit card, via bank transfer or by connecting directly to your bank account through Open Banking—a secure and innovative way to manage online payments.
  2. Research Polygon and other cryptocurrencies. Before buying any cryptocurrency, including Polygon, it is important to carry out thorough research. You’d want to consider factors such as market capitalisation and liquidity, technology and innovation, team and community, use case and adoption, and security and transparency.
  3. Choose and configure a Polygon wallet, such as MetaMask or Coinbase Wallet. Wallets are extremely important as they help you store your Polygon and other crypto holdings. Storing your cryptocurrencies in a wallet instead of a crypto exchange is better because wallets are typically independent of exchanges. If the exchange goes bust, for example, you can rest assured that your money is safe on the blockchain and separated from the crypto exchange. Examples of crypto wallets for storing Polygon (MATIC) tokens include MetaMask, Coinbase Wallet, and eToro Money Wallet.
  4. Buy Polygon with GBP using the crypto exchange’s web or mobile app. Once you’ve registered with a crypto exchange and configured your wallet, you are now ready to buy Polygon. Simply navigate to the trading section of your preferred crypto exchange and buy some Polygon (MATIC) tokens.
  5. Transfer your Polygon tokens to your wallet for safekeeping. Upon completing your purchase, transfer your Polygon tokens to a secure wallet for safekeeping. You can always transfer them back to the exchange when you are ready to convert your Polygon to cash.

Where to Buy Polygon in the UK

We’ve put together a list of the best places to buy Polygon in the UK. These are crypto exchanges, wallets, apps and websites where you can buy Polygon, Bitcoin, Ethereum, Dogecoin, Cardano and other cryptocurrencies in the UK.

Please remember that cryptoassets like Polygon are highly volatile, unregulated investment products with no UK or EU investor protection. You could lose all the money you put into them. Additionally, capital gains tax may apply to profits from cryptocurrency sales.

Here are the best places to buy Polygon in the UK:


eToro - Good for beginners and experts; 70+ Cryptocurrencies

eToro Logo
Minimum Deposit
US$100 (£80)
Trading Fees
1%
Withdrawal Fees
US$5 (£4)
FX Fees
Yes
FCA Registered
Yes

eToro is a multi-asset trading platform that enables you to trade or invest in cryptocurrencies, NFTs, stocks, ETFs, commodities, forex, and indices, directly or via contracts for difference (CFDs). With eToro, you can trade over 70 “real” cryptocurrencies, including popular coins like Bitcoin, Ethereum, XRP, Binance Coin (BNB) and Dogecoin.

Crypto trading on eToro is suitable for both beginners and advanced traders. Beginners can benefit from the educational materials, user-friendly desktop and mobile apps and copy trading tools (which allow you to copy the trades of top-performing crypto traders on the eToro platform). Advanced traders can take advantage of the superior charting and analytics tools, staking service, social trading feature, and real-time crypto market news and insights. You can also benefit from eToro’s risk management tools, such as Stop Loss, Take Profit and Trailing Stop Loss, to better manage your positions, protect your investments and secure your profits. Stop Loss and Take Profit are not guaranteed.

It is entirely free to open an account with eToro, and all registered users receive a US$100,000 demo account for free, which you can use to practise buying crypto and other assets before committing real money. eToro does not charge a deposit fee but charges a 1% trading fee on all crypto positions. Trading on eToro occurs in USD, so a conversion fee will apply if you deposit or withdraw in a currency other than USD. Withdrawals incur a fee of US$5 (£4), and the minimum withdrawal amount is US$30 (£24). For UK customers, eToro offers an eToro Money app which allows you to convert your GBP to USD free of charge, thereby reducing your foreign exchange costs. The app also functions as a crypto wallet for storing your crypto holdings and allows for easy transfer of your cryptocurrency from one exchange or wallet to another.

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Additionally, 80 - 90% of retail investor accounts lose money when trading CFDs with this provider. Copy Trading does not amount to investment advice.

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Coinbase - Beginner friendly; Crypto card; 240+ Cryptoassets

Coinbase logo
Minimum Deposit
£0
Trading Fees (Maker/Taker)
0.40% - 0.00% /
0.60% - 0.05%
Withdrawal Fees
No
FX Fees
No
FCA Registered
Yes

Coinbase is a cryptocurrency exchange that allows you to buy, sell and hold cryptocurrencies, NFTs, and other DeFi products and keep track of them in one place. With Coinbase, you have over 240 cryptocurrencies to choose from, including popular coins and tokens like Bitcoin, Ethereum, USD Coin, Tether, Dogecoin and Polygon. You can also trade new or rare coins that may not be available on other crypto exchanges. New cryptocurrencies are added to the Coinbase exchange as frequently as every few days.

Coinbase also gives you access to a self-custody crypto wallet where you can store all your crypto and NFTs in one place. The Coinbase Wallet also supports hundreds of thousands of tokens and dApps, and users can use DeFi liquidity pools to supply or borrow crypto and swap assets on decentralised exchanges. Coinbase offers a crypto card powered by an FCA-licensed e-money institution. With the Coinbase card, you can spend crypto like cash anywhere Visa cards are accepted. If you are interested in learning about how specific cryptocurrencies work, you can take advantage of Coinbase’s earn feature, which rewards you with a tiny bit of crypto for completing online courses on cryptocurrencies. The Coinbase desktop and mobile apps are beautifully designed, easy to use and offer a range of products suitable for beginners, advanced crypto traders and businesses.

There are multiple fees involved when trading crypto on Coinbase. Fees are calculated at the time you place your order and may be determined by a combination of factors, including the selected payment method, the size of the order, and market conditions such as volatility and liquidity. For basic trading, fees will be listed in the trade preview screen before you submit your transaction and may differ for similar transactions. For advanced trading, Coinbase charges a Maker fee ranging from 0.40% to 0.00% and a Taker fee ranging from 0.60% to 0.05%, depending on the size of your order. The larger the order size, the smaller the fee on a percentage basis. Coinbase also offers commission-free USDC trading.

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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Uphold - Crypto card; Cheap forex rates; 250+ Cryptoassets

Uphold Logo
Minimum Deposit
US$1 (£0.80)
Trading Fees
0.90% - 1.20%
Withdrawal Fee
US$3.99 (£3.22)
FX Fees
Yes
FCA Registered
Yes

Uphold is a beginner-friendly cryptocurrency exchange that allows you to buy and sell over 250 cryptocurrencies, including majors, altcoins and emerging tokens such as Bitcoin, Ethereum, XRP, Dogecoin, Polkadot, ApeCoin, PancakeSwap and Audius. Users can also buy and sell up to 3 national currencies, including GBP, EUR and USD and enjoy competitive forex rates. Uphold offers a free virtual crypto card that allows you to spend your crypto anywhere a Mastercard is accepted. With the Uphold crypto card, you receive up to 1% cashback on your card transactions paid to you in GBP. The card has no transaction fees when spending locally or internationally and can be easily linked to Apple Pay or Google Pay.

As an Uphold customer, you can earn staking rewards when you put your digital assets to work. Currently, customers can earn up to 13% APY. Please keep in mind that staking rates are variable and may change at Uphold’s discretion. Uphold offers crypto wallets for up to seven cryptocurrencies and crypto networks. Customers can store their crypto in the Uphold Bitcoin Wallet, Ethereum Wallet, XRP Wallet and many more. With Uphold, you can schedule regular transactions using AutoPilot, which allows you to set up recurring buy or sell orders and reduce the impact of price volatility. As an Uphold customer, you can also take advantage of the limit order feature, which allows you to buy or sell a cryptocurrency at a specified price. Customers can place up to 50 limit orders using one pool of capital.

There are multiple fees involved when trading crypto on Uphold. The most important fees to look out for are trading fees, FX fees, and market spreads. In the UK, US and Europe, Uphold charges a market spread ranging from 0.9% to 1.2% on BTC and ETH. Spreads can be significantly higher for low-liquidity cryptos and tokens such as XRP, ZIL, OXT, UPT, DOGE and others. You will be able to see the total cost of your trade before you place the trade. Uphold charges a withdrawal fee of $3.99 for bank transfers and $2.99 for crypto transfers. Visit Uphold to learn more.

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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CoinJar - Ready-made crypto portfolios; 50+ Cryptocurrencies

CoinJar logo
Minimum Deposit
£10
Trading Fees (Maker/Taker)
0.10% - 0.00% /
1%
Withdrawal Fees
No
FX Fees
No
FCA Registered
Yes

CoinJar is a cryptocurrency app and exchange based in the UK and Australia. With CoinJar, you can trade or invest in 50+ cryptocurrencies, including popular coins such as Bitcoin, Ethereum, XRP, USD Coin, Dogecoin and Shiba Inu Coin. The CoinJar app, which doubles as a crypto wallet, allows you to buy, sell, hold, spend and transfer cryptocurrencies securely on your desktop, iOS or Android device. The CoinJar card lets you make purchases with your crypto, online and in-store, anywhere Mastercard is accepted. It is free to activate the CoinJar card, and there are no monthly fees for using it. When paying with the card, your crypto is automatically converted to fiat currency using CoinJar’s best rates at the time of the transaction. You can choose to have a virtual or physical card or both. The CoinJar card is fully integrated with Google Pay, so Android users can spend crypto instantly and securely with any device.

CoinJar has a unique feature called a Crypto Bundle. A Crypto Bundle is a themed basket of cryptocurrencies, similar to a crypto index fund, crypto ETF or a ready-made stock portfolio. For example, you can buy a CoinJar Universe bundle, which is a portfolio of all the cryptocurrencies available on CoinJar. One investment into such a bundle means you have invested in every cryptocurrency available on CoinJar with just a click of a button. Crypto Bundles can either be proportional, where the weight of each cryptocurrency in a bundle is equal or cap-allocated, where the weights are allocated based on market cap performance.

CoinJar is suitable for both beginners and advanced traders. Beginners can take advantage of the easy-to-use app and ready-made crypto portfolios, while advanced and professional traders can take advantage of CoinJar’s institutional-grade crypto solutions, such as the CoinJar OTC, with razor-thin spreads and globally sourced liquidity. The minimum deposit to open an account with CoinJar is £10. Deposits are made in GBP, so FX fees do not apply. There is a trading fee of 1% on the CoinJar mobile app and website. The CoinJar Exchange (for market orders and aggressive limit orders) charges 0.00% for Taker orders and 0.10% - 0.04% for Maker orders (limit orders).

Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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Kraken - Low cost; Staking rewards; 200+ Cryptocurrencies

Kraken logo
Minimum Deposit
US$10 (£8)
Trading Fees (Maker/Taker)
0.20% - 0.00% /
0.26% - 0.001%
Withdrawal Fees
Yes
FX Fees
Yes
FCA Registered
Yes

Kraken is a crypto exchange that allows you to trade and invest in over 200 cryptocurrencies, including Bitcoin, Ethereum, Tether, XRP, USD Coin, and Litecoin. The platform is robust and will accommodate the needs of both beginners and experienced crypto traders. Beginners or newbie crypto traders can benefit from Kraken’s slick and easy-to-navigate mobile apps, wide range of educational materials, and 24/7 customer support. Advanced traders can take advantage of Kraken Pro, which provides access to spot, margin, futures trading, and staking in an all-in-one powerful interface that boasts low spreads and deep liquidity across markets. Advanced traders can also benefit from Kraken’s risk management tools, including Limit, Market, and Advanced (Stop Loss and Take Profit) Orders, to better manage positions, protect investments and secure profits.

Kraken allows you to earn staking rewards when you put your cryptocurrencies to work. Currently, customers can earn up to 24% in rewards annually by staking digital assets with Kraken. Please keep in mind that this rate is subject to change and compliance with Kraken’s terms and conditions. Additionally, to help customers feel more secure about trading on Kraken, the platform regularly publishes its proof of reserves audits, making it easy for customers to verify that the balances they hold are backed by real assets.

It is entirely free to open an account with Kraken. However, your first trade must be worth at least US$10 (£8). Kraken charges multiple fees depending on the assets you buy and how you choose to trade: If you trade via the mobile app using the basic features, a Maker fee ranging from 0.20% to 0.00% and a Taker fee ranging from 0.26% to 0.001% will apply, depending on the type and size of your order. The larger the order size, the smaller the fee on a percentage basis and vice versa. Other fees such as withdrawal, FX, and instant buy fees may apply.

Please note:
Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.

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What Is the Current Price of Polygon?

The current price of Polygon (MATIC) is £0.83 (at the time of writing). You can find the live price of Polygon (MATIC) on TradingView at any time.

What Is Polygon?

Polygon is a Layer 2 scaling solution for Ethereum that aims to improve the speed, scalability, and efficiency of the Ethereum network. It provides a framework for building and connecting Ethereum-compatible blockchain networks. Polygon is designed to enable the development of decentralised applications (dApps) and is sometimes referred to as the “Internet of Blockchains.” The native token of Polygon is called MATIC.

Polygon was launched in 2017 as the Matic Network and rebranded to Polygon in February 2021. Its goal is to solve some of the limitations of the Ethereum network, such as high gas fees and slow transaction times.

Who Created Polygon?

Polygon was co-founded by Mumbai-based software engineers Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. They have backgrounds in software engineering, blockchain, and product management. The team aimed to create a scalable, secure, and user-friendly solution to address the challenges faced by the Ethereum blockchain.

What Is the Polygon Network?

Polygon is a Layer 2 scaling solution that uses a combination of Plasma chains, Proof of Stake (PoS) checkpoints, and sidechains to create a flexible and efficient network. The Polygon network is designed to be compatible with the Ethereum blockchain, allowing developers to build and deploy dApps easily. The network also supports the Ethereum Virtual Machine (EVM), enabling seamless integration with existing Ethereum-based applications.


Is Polygon Safe?

Polygon employs proven cryptographic techniques to secure its network and transactions. While the technology is considered secure, it is important to remember that all cryptocurrencies and blockchain networks have inherent risks. Users should exercise caution, especially when managing private keys and passwords, as lost credentials can lead to the loss of funds.

What Makes Polygon Unique?

Polygon’s unique approach to scaling the Ethereum network sets it apart from other Layer 2 solutions. Its hybrid architecture combines multiple scaling techniques to improve the performance of the Ethereum ecosystem. Some of its key features include:

  1. Interoperability: Polygon allows for seamless communication between different blockchain networks.

  2. Scalability: The network’s sidechain structure and PoS consensus algorithm enable faster and more efficient transactions.

  3. Flexibility: Polygon supports various consensus algorithms and enables developers to choose the most suitable solution for their dApps.
  4. Security: The network leverages the security of Ethereum’s main chain while implementing additional security measures.


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