Polygon is made in India cryptocurrency coin.
Yes, the owners Jaynti Kanani & Sandeep Nailwal started the Polygon network and Matic coin in 2017. The sole purpose of this network is to address multiple limitations on the Ethereum network like high gas fees, throughput, and transaction speed. The MATIC coin is faster than Ethereum and allows users to transact with low gas fees.
Polygon solved problems found in the Ethereum network and got famous themselves. Some users are on the Polygon network launching blockchains, minting NFTs, staking, and more.
What is the MATIC crypto coin?
The MATIC coin is the native currency of the Polygon network. There is a maximum supply of 10 billion MATIC coins. According to coinmarketcap, 7.81 billion coins are in circulation. Similarly, if the circulation reaches maximum supply, we will see the price escalate.
MATIC cryptocurrency coin live price today as of 19th April 2022:
108 INR – MATIC price in INR
1.41 USD – MATIC price in USD
Why should I buy the MATIC coin?
Here are a few reasons you must consider investing in the MATIC coin.
1. Offers a better and faster platform than Ethereum at lowest the gas fees.
2. The coin is barely INR 108 compared to INR 240,000 Ethereum. Hence, there is a scope for a price rise.
3. Multiple businesses, brands, developers, and artists work on the Polygon network.
4. Finally, for a coin that pumped over 15,000% in 2021, there is tremendous scope for this coin to boost again.
What is the use of the MATIC crypto coin?
Here are a few use cases of this coin that regular investors must know.
1. Paying low fees for transactions on the network.
2. Stake MATIC coins on different platforms to earn interest.
3. Mint, create, trade, and sell NFTs.
4. Create dApps, launch blockchains, become node validators, delegators, and more.
How to buy the MATIC crypto coin in India?
There are many cryptocurrency apps in the market where you can purchase the MATIC coin. However, I believe the best cryptocurrency apps in India are these two platforms that I have been using – Binance and WazirX.
I have read good Binance reviews from customers in India and abroad. Both Binance India and Wazir X are easy-to-use platforms, and I have never faced problems while depositing or withdrawing money.
Here are the basic steps you must follow on each cryptocurrency app.
1. Sign up
2. Add a Bank account
3. KYC verification
4. Deposit INR/USD in your wallet.
5. Start trading
MATIC crypto price prediction:
In 2021, the MATIC coin grew from 1.45 INR to 219 INR, a whopping 15,000% increase. If you invested INR 1,450 and bought 1000 MATIC coins, their value during that year would be INR 219,000.
In 2022, the cryptocurrency market is going through a bear phase. The MATIC coin price now stands at INR 108 today. Hence, price predictions for this are very promising. If you believe in the future of the Polygon network, it can end the year between INR 133 – INR 216 (25 – 100% growth.)
FAQs:
1. Is cryptocurrency legal in India?
Yes, cryptocurrency is legal in India. From 1st April 2022, if you buy any digital currency, you will incur a 30% + 1% TDS cryptocurrency tax in India.
2. Can the MATIC coin be converted to cash in India?
Yes. You can buy the MATIC crypto coin on multiple currency exchange platforms in India. These platforms support buying the MATIC coin in INR.
3. Is MATIC a good investment?
Yes. With Polygon doing a better job than Ethereum at a lower price, there is a high potential for this coin to grow by 2025.
4. Which is the best research tool for cryptocurrency online trading?
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