Buy Polygon in Canada

Polygon made simple

Everything you need to know about Polygon and how to start investing in it.

Current Price

$0.7106 CAD

+$0.010680 (1.53%) past 24 hours

Market Cap The value of the entire supply of a specific cryptocurrency or token. It’s calculated by taking the price of a coin/token and multiplying it by the total number of that coin/token in circulation.: $7,054,890,647.04
Circulating Supply The amount of coins that have already been created and are available in the market.: $9,908,000,000
Total Supply The total amount of coins currently in existence minus any coins that have been burned or removed from circulation.: $9,971,951,071.83
24h low - high range Low-high range over the past 24 hours.: 0.658692 - 0.714425
7 day low - high range Low-high range over the past 7 days.: 0.6428025 - 0.7859402
52 week low - high range Low-high range over the past 52 weeks.: 0.52309775 - $1.79

Polygon 101

Polygon, formerly known as MATIC, is a scaling solution that takes the load off the overburdened Ethereum blockchain. The Ethereum blockchain launched in 2015 as the first blockchain to support smart contracts, or self-enforcing bits of blockchain code, that power a panoply of decentralized applications.This idea caught on, so much so that Ethereum now struggles to handle all the demand.

It can cost as much as $60 to swap a token on the Ethereum-based decentralized exchange Uniswap, for instance, and several hundred dollars to mint a piece of crypto NFT art.

Adding to that, the Ethereum blockchain only supports about 14 transactions per second. Compare that to estimations that Visa processes about 1,700 transactions per second, and Ethereum looks a little slow.

Polygon tries to make all of these problems go away. It collects batches of transactions, processes them on the Polygon blockchain, and then submits the data as a single transaction on the Ethereum blockchain. This saves money and reduces the load on the Ethereum blockchain.

Although Polygon started with Ethereum, it wants to expand its scaling services to other blockchains, and markets itself as a framework for an “internet of blockchains”. A coin called Polygon, also known by its ticker, MATIC, powers the whole thing. You can buy and hold it to speculate on its price, or stake it within Polygon to earn extra tokens.

Why Wealthsimple Crypto?

Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?

Sign up in minutes right from your phone or laptop
Start trading crypto with as little as $1
No account minimums
No clunky dashboards — just one super simple app
Best of all: you don’t need to be an expert in crypto or blockchain to get started

Get started with Crypto

What can you do with Polygon?

You can buy, sell or hold Polygon as a speculative asset. The price rose a lot in 2021 when Ethereum became too expensive to use, and many Ethereum enthusiasts think that scaling solutions like Polygon are very valuable.

You can also stake MATIC. This involves locking it up in a protocol to earn returns. Staking Polygon lets you verify transactions, a little like Bitcoin mining but without the need to run a powerful computer. Right now, $3 billion MATIC has been staked by 100 validators.

Or, you can deploy your MATIC elsewhere. You could become a liquidity provider on QuickSwap to facilitate token swaps in and out of the coin, or invest it in a yield farm. Note that these options involve putting your money at risk.

Is Polygon a smart investment?

Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Polygon or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.

How we keep your Polygon safe

As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Coinbase Custody) for cold storage.

FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Polygon prices.

And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.

If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Polygon to your Wealthsimple account in just a few taps.