Studies of new cryptocurrencies are making the digital market captivating, especially with reference to recently launched projects, among which is Polygon. This is a cryptocurrency that was launched in 2019, whose operation is based on an open source system to ensure security, speed and confidentiality of use. It is also defined as a framework capable of creating Ethereum-compatible network connections.
With regard to purchases in this area, it is essential to clarify that the aspects related to it are multiple, partly related to the characteristics of the goods exchanged, partly to the constantly evolving market. A new frontier of blockchain, innovative, is developing to improve the purchase operations of existing cryptocurrencies, especially with reference to fundamental aspects, including the security of transactions. So let’s see why and how to buy Polygon.
Table of Contents
Why Buy Polygon
Like all existing cryptocurrencies, Polygon is also connected to advantages and risks to be taken into account. Among the advantages there is certainly the characteristic linked to the fact that Polygon is a new generation algorithm, capable of solving problematic aspects linked to past generations of cryptocurrencies. Another benefit is the scalability, due to the multi-chain system, open, powerful and able to offer a high level of modularity, facilitating collaboration between users in the community.
Finally, Polygon is able to guarantee transactions in a very short time, and at low commissions. In conclusion, Polygon is able to exploit the network effects of Ethereum, without renouncing security and giving life to a complete multi-chain system. The compatibility of the system with ETH guarantees in fact, a good positioning in the sector. As far as the risks are concerned, these are connected to the existence of competing projects that, exploiting the same ideas, could prove exclusionary in terms of market competition.
Where to buy Polygon
Let’s proceed to the analysis of the modalities to be used in order to take advantage of the performative potentialities of this instrument reducing at the same time the risks. The optimal solution to the achievement of the goal just outlined is the online broker eToro. Unlike other cryptocurrency exchange platforms, in fact, eToro offers the possibility to buy Polygon in all possible ways, which allow you to make the purchase and sale in the way you prefer.
A brief digression is essential to introduce eToro’s Cysec certification. Registered under license number 109/10, it guarantees the regulation of the platform in accordance with the rules dictated by the Cyprus Securities & Exchange Commission. The security guidelines specify that users are warned periodically about the risks and precautions that can be taken to ensure adequate protection. Users are also encouraged to report any security issues they encounter with a product to the eToro team.
In order to secure accounts, the platform lists a number of steps to follow, which include the use of a two-factor authentication system. Also promoted is the uniqueness of the password to log into the platform, which is recommended to be different from any other password used, without saving it in the browser. In addition, the use of a complex password, ensuring that the platform does not in any case send emails to request confirmation of the current password, inviting you to be wary of any situation of this type.
We then find the scan for viruses and malware by periodically scanning the device used for investments, inviting you to remove any suspicious resources detected, and finally, the regular execution of updates to the operating system and the browser itself, essential to correct possible security problems.
In case you use a non-private device to access the platform, eToro specifies that for security purposes, you must always ensure that you have logged out of your account, deleting cache, cookies and never saving your password when the system automatically recommends it.
How to register with eToro
All investors, moreover, are required to undergo the KYC procedure, used by the system to ensure compliance with the rules in force regarding the prevention of the financial system according to European and international directives. Among the necessary documents, in fact, the user is asked to provide proof of residence and proof of identity. Finally, the user is asked to fill in a questionnaire, in order to help the platform in the support to be offered to the newly enrolled user. This form then asks for various information in order to classify the degree of knowledge of the client in reference to the financial markets and how they work, other concepts such as financial liquidity and acceptable risk conditions, all in order to be sure of providing the right assistance.
How eToro Works and How to Deposit Money in the Account
The entire platform has a fairly simple operation, and if you have any doubts, there are special sections on the official website for you to consult. Deposits can be made quickly and easily through different payment methods. Once you have chosen the desired method, just log in to your account and click on Deposit funds, enter the amount by selecting the currency and conclude by selecting the chosen method of deposit.
You can also use e-wallets and other deposit methods including online banking and rapid transfer. The minimum amount provided for deposits varies depending on the type of deposit, for all those other than the first 50 euros and for those made by bank transfer 500 dollars.
How to Buy Polygon on eToro
The best platform that can be used to buy Polygon is undoubtedly eToro, because of the guarantees of the same provided on reliability, regulation and professionalism. In order to make purchases, all you need to do is access your personal account and select Polygon from the cryptocurrency section, then follow the guided procedure to complete the purchase.
Costs and Commissions
There are no commissions at eToro, opening an account is free and there are no surcharges of any kind for stock commissions, ticket fees or stamp duties. Likewise, no management fee is required. Withdrawals are subject to a very low fee of $5, with no further provision for settlement fees. However, it is possible that there are specific commissions, which can be consulted by downloading a special pdf document directly from the official site of eToro, by clicking on the entry eToro Commissions.
To conclude the topic, security is the basis of any kind of financial investment and especially in the world of cryptocurrencies. This is especially when put in relation to the volatility that characterizes these assets. For these reasons, it is good to take into consideration all the information listed above to buy Polygon, considering the advantages and risks related to it. Definitely, it is advisable to proceed through platforms that can ensure levels of security to protect yourself, always.