5 Reasons Why You Should Buy Polygon

Polygon is an Ethereum Layer 2 solution that has the potential to explode in 2022.

Since Bitcoin emerged as a pioneer in the cryptocurrency space, cryptocurrencies have followed the trend of creating many other digital currencies. There are currently more than 6000 of these coins and they are in the development stage. Polygons are one of many cryptocurrencies, also known as altcoins, after Bitcoin.

Polygons was developed in 2019. Originally known as “Matic Network”, it was later rebranded to Polygon. Its main purpose was to solve the existing scaling problem of the Ethereum blockchain without paying high gas fees. Here are some reasons to consider when adding this currency to your wallet:

As mentioned earlier, the main purpose of the polygons was to help scale transactions on the Ethereum blockchain while keeping transaction costs as low as possible. Polygon has achieved both of these advantages so far. Many decentralized developers are quickly adopting this cryptocurrency due to its attractive features. Using polygons is easy, fast and very affordable, which makes them the market leader in this segment. Given that the Diffi industry is currently worth over $100 billion, if the coin continues to gain momentum in the industry, you can make a reasonable amount of money by investing in it. In addition, Uniswap V3 was recently released into the Polygon ecosystem, bringing more decentralized developers and users into the Polygon network. The more users you attract, the greater the demand for this coin and the higher its price.

Few of the 6000+ cryptocurrencies out there have a clear plan of what they are trying to achieve with this feature. Most of them are vacuum and pump projects that are only meant to raise a few dollars and then almost forgotten. Polygon is one of the few projects that has shown a clear path. Currently, this project offers a realistic and practical solution for the financial industry.

As an investor, you should not immediately put your money into an influential project that holds promises of profit but does not have obvious characteristics. It is wise to look at the team behind the project, their skills, experience, and job perspectives. The team behind Polygon demonstrates their seriousness and determination to provide solutions and convenience in the cryptocurrency industry. Among the most notable solutions is the scaling feature that has so far avoided many other block chains. They are continuing their research to further develop the platform.

Market cap is the value of all coins in circulation. Multiply the current price of a currency by the total number of currencies in circulation to get its capital. This value indicates the stability of a particular cryptocurrency. The higher the market cap, the more stable the digital currency in question. In other words, in case of occasional market fluctuations, the price of the currency will not be affected significantly.

Polygon’s current market capitalization is just over $15.7 billion. With a market capitalization of approximately $794 billion, this value is relatively stable compared to the leading digital currency Bitcoin. Polygons are currently ranked 13th on this metric for all cryptocurrencies. Getting this coin as part of your investment is relatively the same as gambling. It should grow, albeit slowly, over the next few years.

If you want to know if your project has a future, see our project partners. Most cryptocurrency projects are pump-and-dump developments that aim to raise as much cash as possible and fail with investors’ money, especially during the first coin offering. Polygon is a different project from other well known digital currencies such as Ethereum and Bitcoin. It attracts serious potential partners such as Kyber Network and Graph Linq Protocol. Kyber Network uses the Polygon platform to increase application fluidity. We used this scaling solution to develop our first liquidity mining solution, Rainmaker. Thanks to Polygon’s lower gas rates, the partnership with GraphLinq has resulted in more user engagement. The value of this coin should grow in the near future as more partners join in.

If all the attractive features of this coin are not enough reason to add it to your wallet, then you can consider its nominal entry point. Most of the large projects that create a list of the top 20 cryptocurrencies are relatively expensive, with a few exceptions. Polygons are one of the possible but still fairly inexpensive coins. Currently, the price for MATIC is $2.18. You can buy more than 100 units at this price for over $200. This is very low compared to coins like Ethereum, which retails at over $3,500. When MATIC reaches $50 in a few years, its features and developments make it highly potential and highly profitable. You can consider including some of these currencies in your portfolio as a way to diversify your risk and diversify your investments.

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