How To Buy Polygon In Canada (May 2022)

March 14, 2022
Blog

The best way to buy Polygon in Canada is via a cryptocurrency exchange, which you can use to buy Polygon tokens via fiat currencies (CAD, USD or otherwise) or other crypto coins.

CoinSmart is my recommended crypto trading platform due to its high level of security, ease of use, and low trading fees. If you’re serious about buying and selling crypto in Canada, I can’t recommend CoinSmart highly enough.

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Offer ends May 19.

How to Buy Polygon (MATIC) In Canada

To buy Polygon in Canada, you’ll need to use a cryptocurrency trading platform that allows you to buy Polygon directly using fiat currencies (such as CAD or USD). You can use the same platform to buy other cryptocurrencies—including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE)—and then trade these for Polygon tokens as well.

Top Crypto Platform For Buying Polygon In Canada

1. CoinSmart

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ends May 19.

★★★★★

Rated 4.9/5

CoinSmart is, without a doubt, the best crypto platform in Canada in 2022.

For starters, CoinSmart’s trading fees are an incredibly low 0.2%. They offer excellent customer support available 24/7 via phone, live chat and email, and user accounts are verified instantly.

CoinSmart has been designated a Registered Marketplace by the Ontario Securities Commission (OSC), and as a publicly-traded company, their financials are audited by a third-party firm at least once per year. They also maintain a 95% cold storage policy, which ensures your crypto is kept extra safe and secure across all circumstances.

As a new CoinSmart user, you’ll receive a $50 bonus upon funding your account, which you can use to buy Bitcoin, Ethereum, or any of the 16 assets CoinSmart supports. If you’re looking for a highly secure, reputable crypto platform, CoinSmart is an excellent choice.

Features

  • Extremely low trading fees (0.2%)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Registered Marketplace by the OSC
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Account Opening: Free
  • Trading Fees: 0.2%
  • INTERAC Deposit: 0%
  • Bank Wire Deposit: 0%
  • Bank Wire Withdrawal: 1%
  • EFT Withdrawal: 1%

Signup Bonus

$50 bonus when you sign up using this link and our promo code YOREOYSTER.

Best For

Investors looking for low fees and the best overall trading experience.

CLAIM MY $50 BONUS
Offer ends May 19.

How To Buy Polygon In Canada FAQs

What Is Polygon (MATIC)?

Polygon is a scaling solution for the Ethereum blockchain that operates on top of it. The Ethereum blockchain has grown to become sluggish and pricey as more and more people use it, so the Polygon blockchain was designed as a direct answer to these shortcomings.

As of December 2021, the Ethereum blockchain can only handle around 14 transactions per second, each costing an average of $25. During times of heavy network congestion, however, these costs may rise dramatically, which is a major issue for people interested in using Ethereum-based decentralized finance (DeFi) protocols or non-fungible token (NFT) marketplaces.

Scaling solutions like Polygon make things less expensive by performing some transactions remotely. In Polygon’s case, batches of transactions are carried out on the company’s proprietary proof-of-stake blockchain.

Eliminating the need for a third party cuts expenses and saves time because you just have to pay for a tiny portion of one Ethereum transaction (in addition to Polygon’s own network costs).

Can I Buy Polygon In Canada?

Yes. To buy Polygon in Canada, you need a cryptocurrency platform that either allows you to exchange fiat currency or other cryptocurrencies for Polygon. I recommend using CoinSmart, our top-rated platform in Canada, since it allows you to buy Polygon with very low fees.

How Do I Store My Polygon Tokens?

There are several ways to store your Polygon tokens.

Leaving your coins inside your crypto exchange account is one option. Because crypto platforms keep about 95% of the assets they own in cold storage, this would be safer than utilizing a software (or hot) wallet. However, even with protection, your account may still be hacked and stolen.

You can also store your Polygon tokens in a personal crypto wallet that protects your private keys and digital assets. It’s not definitive safety, but a personal wallet is considerably safer than keeping your money on the exchange where you originally bought your coins.

As someone who’s tried out more than a dozen different wallets over the years, here are my top 3 picks for the best crypto wallet for Canadians:

#1 Best Overall

Supports: 70+ crypto assets
Type: Software wallet
Cost: Free

The most secure wallet, period.

★★★★★

Rated 4.9/5

Top Hardware Wallet

Supports: 1,800+ crypto assets
Type: Hardware wallet
Cost: $199 CAD

Rated 4.6/5 on Amazon.

★★★★

Rated 4.3/5

Best For Altcoins

Supports: 1,000+ crypto assets
Type: Hardware wallet
Cost: $75 CAD

Trusted by 1 million+ investors.

★★★★

Rated 4.1/5

  1. ZenGo: ZenGo is a free software wallet that leverages the blockchain to make it significantly more secure than traditional wallets while also being extremely easy to use. Sending and receiving crypto to/from ZenGo is also free, and it takes less than 30 seconds to open your free ZenGo wallet.
  2. Ledger Nano S: The Ledger Nano S is a hardware wallet that uses a certified secure chip to protect your private keys. It supports 1,500+ cryptocurrencies and allows users to hold up to 20 digital assets on the device at any given time.
  3. Trezor Model One: The Trezor Model One is a hardware wallet and password manager that supports 1,000+ cryptocurrencies. Its Trusted Display ensures extremely secure transactions, and its compact design makes it easy to keep your crypto safe.

Is Polygon A Good Investment?

Considering its performance compared to what it was worth a year ago, as well as its ability to offer a solution to Ethereum’s current scaling issues, Polygon may be worth considering as a long-term investment.

However, it’s worth keeping in mind that its potential is not guaranteed, and the cryptocurrency industry is highly volatile. As such, you should always carefully consider whether investing in crypto is right for you.

In Summary

Polygon is very easy to buy, sell and trade in Canada. There are plenty of cryptocurrency platforms that support it, and all you need to do to get your hands on it is trade some fiat currency or other cryptocurrency for Polygon tokens.

CoinSmart is my recommended crypto trading platform due to its high level of security, ease of use, and low trading fees. If you’re serious about buying and selling crypto in Canada, I can’t recommend CoinSmart highly enough.

CLAIM MY $50 BONUS
Offer ends May 19.

The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

$50 bonus ends May 19.

★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

Free account, instant verification

★★★★★

Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5