top exchanges in polygon

Polygon is very much an up-and-coming blockchain to keep an eye out for. You can’t keep them out of the news. As a result, their MATIC token is clawing its way into the top 10 by market cap. Currently, they are on spot #9.

Most people buy MATIC on a CEX. So, we are going to have a look at the 3 best centralized exchanges for Polygon.

1) Binance

Binance is currently the biggest centralized crypto exchange in the world. Since April 2019, Binance already lists the MATIC token. To be precise, they had a MATIC token sale in the form of a lottery.  The price was 1 MATIC = $0.00263. Compare that with the current price of $1.45. That’s a 2,351% historical ROI. Not a bad deal if you held on to the tokens. Let alone if you look at the ATH of $2.92 in December 2021.

Back to Binance, though. They have some impressive stats to show. According to CoinGecko, their daily volume is $14.5 billion. That’s about seven times as much as second placed Coinbase. They also have 69.2 million monthly visitors. That’s almost double from Coinbase and almost tenfold from OKX, who’s the third biggest CEX. For our US readers, Binance.US also offers MATIC. 

Binance also gives a few options to earn with your MATIC. For example, they offer a ‘simple earn’ product. With this, you can deposit and lock your MATIC for 30, 60, or 90 days. Rewards are up to 6.39% if you lock your MATIC for 90 days. Below is a picture of their ‘Simple Earn’ feature.

Polygon

Source: Binance Earn

2) Coinbase

Coinbase is the second-biggest centralized crypto exchange. According to CoinGecko, they have a daily trading volume of $2.3 billion. Their monthly visitor count sits at 35.9 million. That’s great numbers and puts them well ahead of the third ranked exchange. OKX.

However, after the FTX collapse, CEXes started to show proof of their reserves. There are only a few top exchanges that haven’t shared this information yet. Unfortunately, Coinbase is one of these exchanges. 

Although Coinbase has an earning program, MATIC is not listed in it. On the other hand, they have an extended ‘Learn’ program. You can also find a good explanation on how to buy MATIC on Coinbase. Centralized exchanges all work similarly. This makes it easy and convenient in case you change CEXes. Coinbase listed MATIC in March 2021.

Keep in mind, though, that with a centralized exchange, you need to take part in their KYC process. The ‘Know Your Customer’ process. They are required by law to have these processes. This involves providing an official ID document and having your picture taken.

3) Kraken

CoinGecko lists Kraken as the 5th exchange in volume. Their daily volume is just above $1 billion. On a monthly basis, they welcome five million visitors. However, like Coinbase, they haven’t shown proof of their reserves.

Kraken listed MATIC in July 2021. Like all top exchanges, Kraken has an extended explanation on how to buy MATIC.  This comes with a thorough explanation of Polygon. They also offer a staking feature for MATIC. Flexible staking currently offers 1-2%. However, if you bond MATIC, you can earn up from 2% to 5%. Kraken distributes rewards on a weekly basis. See the picture below.

Polygon Kraken

Source: Kraken staking

Conclusion

In this article, we showed you the best three centralized exchanges for Polygon and MATIC. These are Binance, Coinbase, and Kraken.

The current price for MATIC is $1.45. The market cap is $13 billion. Their max supply is 10 billion MATIC. Out of this supply, already 9 billion circulate.

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