Looking to buy Polygon (MATIC) in the UK?
In this quick guide, I go through some of the places where you can it in the UK.
Intro: Best Ways to Buy Polygon in the UK
Here’s a quick overview of the best places where you can buy Polygon (MATIC) in the UK. Scroll down to learn more about my favourite choices.
|Coinbase Pro||UK Bank Transfer||Up to 0.50%|
|Kraken||UK Bank Trannsfer||Up to 0.26%|
|CoinJar||UK Bank Transfer||1%+|
|CoinJar||Credit & Debit Card||2%+|
|BC Bitcoin||UK Bank Transfer||3% (Exclusive Discount)|
|Crypto.com App||UK Bank Transfer||Variable Rate|
|Crypto.com App||Credit & Debit Card||2.99%|
|Binance||Bitcoin & Other Cryptos||Up to 0.10%|
How to Buy Polygon UK
1. Coinbase Pro
Coinbase is a cryptocurrency broker and exchange that’s been around for over 9 years.
It was the first major cryptocurrency exchange in the UK to be given an e-money license by the Financial Conduct Authority (FCA). Since then, you’ve been able to deposit GBP with a simple UK bank transfer (and have it credited within minutes to your account). Even from a Revolut account (which some places block).
In April 2021, Coinbase was also the first cryptocurrency exchange to be listed on the NASDAQ stock exchange (ticker: COIN). They currently have more than 68 million users across more than 100 countries.
While it’s easier to buy Polygon (MATIC) on Coinbase, it’s significantly cheaper to use Coinbase Pro instead. With this exchange, you’ll be charged a maximum of 0.5% in fees whenever you make a trade. The downside is that there’s more to get your head around if you’ve never used something like this before.
Coinbase Pro also has higher trading volume on the MATIC/GBP market than alternative exchanges.
To find out more, head over to the Coinbase website.Coinbase Website
Founded in 2011, Kraken is one of the oldest cryptocurrency exchanges around.
Unlike Coinbase, Kraken isn’t a publicly listed company (yet). However, it did become the “first cryptocurrency firm in the U.S. to become a bank” in September 2020.
On Kraken Pro, you can buy Polygon (MATIC) and dozens of other cryptocurrencies without paying more than 0.26% in fees per trade.
While this is cheaper than Coinbase Pro, Kraken does tend to have lower trading volume on all the GBP trading pairs that I’ve recently checked. This isn’t a huge problem if you’re buying or selling a small amount – but is something to look at if you’re planning on making larger moves down the line.
Like Coinbase, you can also deposit GBP with a simple UK bank transfer into your Kraken wallet for free.
The thing you need to watch out for here is Kraken’s Instant Buy service. While it’s a little more convenient to use this function, it charges higher fees (up to 2%).
Check out the Kraken website to learn more about them.Kraken Website
Established in 2013, CoinJar is another cryptocurrency broker and exchange where you can buy Polygon (MATIC) in the UK.
It supports more than 20 other cryptocurrencies too, which includes Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) – as well as popular ERC-20 tokens like OMG Network (OMG).
You’re able to deposit GBP into CoinJar with a simple UK bank transfer. When I’ve used CoinJar, I’ve found that deposits have been quickly credited (within minutes). Alternatively, you can instantly buy with a credit or debit card.
You’ll be charged a fixed fee of 1% to buy Polygon (MATIC) with cash in your CoinJar wallet. If you decide to use a credit or debit card, you’ll be charged a slightly higher fee of 2%.
The exchange rate that CoinJar quotes is a little higher than the mid-market rate on cryptocurrency exchanges like Coinbase Pro or Kraken Pro. But not by much. When I checked, it was only about 0.2% higher.
While CoinJar is a little more expensive than Coinbase Pro or Kraken Pro, it’s going to be much easier to get your head around if you’re a beginner who hasn’t used an exchange interface before.
Check out its website, or my CoinJar review, to get more information.CoinJar WebsiteCoinJar Review
Best Polygon (MATIC) Wallets
Polygon (MATIC) is an ERC-20 token on the Ethereum (ETH) network, which means that it should be possible to use it with most ERC-20 capable wallets.
If you want to store your cryptocurrency funds on a hardware wallet, then you can still use this web wallet to manage your Polygon (MATIC) funds via Metamask. You can currently access Ledger and Trezor wallets using the Metamask browser extension. For more information on how to get this working, check out this and this.
You can also store, send, and receive Polygon (MATIC) using Exodus Wallet – which is one of the most popular multi-coin wallets around.
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