How to Buy Polygon on Binance

While hundreds of crypto exchanges sell crypto assets like MATIC, none have the trading volume of Binance, the largest crypto platform in the world. Many people use Binance to invest in Polygon and its native currency, MATIC.

This guide will describe how to buy Polygon on Binance in four easy steps.

Note: Binance is unavailable in the US and parts of Canada, so if you’re based in North America, you should check out our “The 21 Best Exchange Reviews” article.

A Step-By-Step Guide on How to Buy Polygon on Binance

1. Register an Account on Binance

You can skip this step if you have already signed up for Binance. But if you haven’t, head to the Binance registration page and create an account.

2. Verify Your Account

Hit the profile symbol on top of the page to go to your “Profile.” Hit “Get Verified” to verify your account.

Next, search for your country and select the right option. Binance will display all the required documents for your specific region and all the steps you must take to complete verification. Hit “Verify” to continue.

Next, you should fill in your personal details, address information, and other required documents. You must also submit an official ID photo, like a passport or a driver’s license.

Your personal information should match your official ID.

3. Deposit Funds/Crypto

Once your account is verified, go to your homepage and hit “Deposit.”

As you can see, you have a lot of deposit options. You can deposit crypto assets and national currencies like USD and EUR or buy crypto using third-party payment channels.

Let’s say you have cryptocurrency outside your Binance wallet. You can deposit it to Binance by clicking “Deposit Crypto” and then trade it for MATIC on the Binance spot market.

And if you don’t have any crypto, you can make a cash deposit to Binance via the “Fiat Deposit” option. 

 

First, choose the national currency you plan to deposit to the platform. Binance will display the deposit methods available for the currency. For example, with EUR, you can make a SEPA bank transfer, send money via Giropay online, use a bank card, or make an Easy Bank Payment.

Each option has a different fee schedule, so you can make an informed choice.

You may have more or fewer options based on your currency choice. EUR is pretty popular, but Binance also accepts several local currencies and supports each with different deposit methods.

If you don’t like any of the recommended methods, click “Other Methods” to see different options. These usually consist of third-party payment processors.

Once you fill out the deposit form, hit  “Continue.” Depending on your chosen method, Binance will provide instructions on how to proceed.

4. Navigate to the Relevant Screen to Buy

Finally, you’re ready to buy MATIC on Binance. Go ahead and hit “Buy Crypto.”

Binance has an easy buy feature that lets you buy most digital assets in a few clicks. All you have to do is to fill out the easy buy form.

First, choose the national currency you will use for MATIC and enter the amount you will pay.

Next, select MATIC as your desired cryptocurrency. Binance calculates how much MATIC you’ll get for your money and displays it in the second column.

Hit “Buy MATIC” to continue. Then, all you have to do is choose your payment method. For example, if you deposited fiat currency, you can select your fiat balance as the payment method. You can also use a payment processor like Banxa or Simplex to complete your order.

If you deposited digital assets to Binance, you can also convert them to MATIC. Click on the “Trade” tab on top of your dashboard and select “Binance Convert.”

The conversion feature is set to “Market Order,” but you can also make it a limit order. Market order uses the currency market price to calculate your order details, whereas, with limit orders, you can set your price. The market order is the better option if you are just starting because it ensures your order will be fulfilled immediately.

In the “From” columns, select the cryptocurrency you already have. In the “To” column, choose MATIC.

Click “Order Preview” to continue. Binance displays the exchange rate and any fees that apply. You can finalize your order by hitting the “Covert” button if everything looks good.

Now you know how to buy Polygon on Binance! If you liked our guide, check out our articles on buying different cryptocurrencies.