Introduction
This page serves as your comprehensive guide on Polygon (MATIC) trading on eToro! To begin with, Polygon is a Layer 2 scaling solution for Ethereum, aimed at improving its performance and scalability. Its native token, MATIC, has gained significant popularity among crypto investors and traders due to its potential to provide faster and cheaper transactions on the Ethereum network.
eToro, a leading social trading platform, offers its users the opportunity to trade MATIC against various other cryptocurrencies and fiat currencies. In this guide, we will dive into everything you need to know about trading Polygon on eToro, including how to buy and sell MATIC, the benefits and risks of trading this digital asset, and key factors to consider before making an investment.
| 🏷️ Crypto Name | Polygon |
| 🚩 Symbol | MATIC |
| 💰 Minimum Investment | $10 |
| 🏷️ Buy/Sell Fee | 1% |
| ⌚ Market Open | 24/7 |
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How to Buy/Trade Polygon on eToro?
Here are the steps in trading or buying Polygon (MATIC) via the eToro online investment platform:
- On your eToro dashboard, click "Trade Markets".
Clicking "Trade Markets" on eToro - Select "Crypto".
Selecting "Crypto" on eToro's Markets screen - Scroll down to look for "MATIC".
Looking for Polygon on eToro's list of crypto assets - Click "Buy" and set the amount you want to invest.
 on eToro's platform.webp)
Buying Polygon (MATIC) on eToro's platform - Click "Open Trade".
Executing MATIC buy order on eToro
Minimum Amount for Buying MATIC
In order to start trading MATIC on eToro, a minimum investment of $10 is required. However, it is important to note that this minimum amount may vary depending on your location and the specific regulations in your country.
To ensure that you have the correct information regarding the minimum investment for MATIC in your region, we recommend consulting the terms and conditions on eToro's website or contacting their customer support for further assistance. By doing so, you can ensure that you have accurate and up-to-date information before making any investment decisions.
How to Sell Polygon (MATIC) on eToro?
To sell your Polygon on eToro, you need to close your open position. Go to your portfolio, select the MATIC position that's currently open, and click on "Close Trade" or the red X button. If you have multiple open MATIC positions, you have the choice of closing just a few positions or all of them.
After doing this, your initial investment plus any profits or losses will be credited back to your account. This is known as "shorting" in trading.
Fees for Buying or Selling Polygon
When you buy Polygon on eToro, you become the owner of the asset. You also need to be aware that you will be charged with a 1% fee for buying or selling MATIC tokens. This fee is already included in the market price shown when you open or close a position. It means that has been added to the Bid-Ask spread of the market price.
Take note of this: When you open a new Polygon position, you will initially see a loss in the position. This is because the displayed Profit & Loss (P/L) includes the 1% buy fee that you paid and the additional 1% sell fee that you will need to pay when closing the position.
How to Copy Polygon Traders on eToro?
In order to copy other Polygon traders on eToro, you need to open an account first and complete the verification process. This includes providing your personal information, verifying your identity, and completing a questionnaire to assess your trading experience and risk tolerance.
After doing this, here are the steps to follow:
- Navigate to the platform and search for traders who are trading Polygon. You can do this by using the search bar at the top of the screen and typing in "Polygon" or "MATIC". This will bring up a list of traders who are actively trading Polygon on the platform.
- Once you have identified a potential MATIC trader that you want to copy, click on their profile to view their stats and performance history. This will give you an idea of their trading strategy, risk profile, and historical performance.
- If you decide to copy the trader, simply click the "Copy" button on their profile page. You will then be prompted to enter the amount of funds you want to allocate to copying their trades.
- Once you have set the amount of funds you want to allocate to copying the trader, eToro will automatically execute trades on your behalf based on the trades made by the trader you are copying. This means that you don't have to actively monitor the market or make trading decisions on your own - the trader you are copying will do this for you.
Polygon Copy Trading - Did You Know?
There are inherent risks involved in copying other traders on Polygon, and there is no guarantee that the trader you choose to emulate will consistently make profitable trades. Nevertheless, if you exercise caution when selecting traders with a demonstrated history of success and adopt a diversified portfolio strategy, you can potentially reduce your exposure to risk.
Analyzing Polygon on eToro
With eToro, you'll have access to a wide range of tools and features that can assist you in analyzing various cryptocurrencies, including Polygon. This broker provides a plethora of resources that can help you make informed investment decisions, with some of the essential tools for analyzing MATIC including the following:
- Price Charts
They provide detailed price charts for MATIC, which can be customized to display different timeframes and technical indicators. You can use this to identify trends and potential entry and exit points for your trades. - Technical Analysis Tools
In addition to price charts, there are also a variety of technical analysis tools, such as trendlines, moving averages, and oscillators. These tools can help you recognize patterns and potential trading opportunities in Polygon's price movements. - News and Market Sentiment
The trading platform has real-time news and market sentiment data for Polygon and other cryptocurrencies. You can utilize this so you can stay up-to-date on important developments and market trends that may impact Polygon's price. - Social Trading
Using eToro's social trading feature allows you to follow and copy the trades of other successful Polygon traders on the platform. This can be a very valuable tool especially if you are new to the market or looking for new investment ideas.
eToro MATIC Wallet
eToro provides a crypto wallet service that can be accessed via a free app available for both Android and iOS devices. This wallet is designed to offer secure storage for various cryptocurrencies, including Polygon, and is user-friendly. It provides easy access to your crypto assets and is a convenient option for managing your digital investments.
The digital wallet provided by eToro is a secure and accessible option for storing multiple cryptocurrencies, including MATIC - Polygon's token. This wallet allows you to buy, store, receive, and transfer various cryptocurrencies with ease. It has support for over 120 cryptocurrencies.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Benefits of the eToro Polygon Wallet
Here are a few potential benefits of utilizing eToro's crypto wallet to store your MATIC tokens:
- User-Friendly
It is very user-friendly, making it easy for both new and experienced users to manage their MATIC holdings. The interface is simple and intuitive, with clear instructions on how to use the features. - Security
It has top-level security features to keep your assets safe. It uses multi-signature technology to protect against unauthorized access, ensuring that only you can access your MATIC holdings. - Convenience
You can easily manage your MATIC holdings without the need for third-party services or external wallets. This makes it a convenient option especially if you prefer to keep your holdings on the platform platform. - Integration with the Trading Platform
The wallet service is fully integrated with eToro's trading platform, allowing you to easily move this cryptoasset between your trading account and the wallet. This means that you can quickly and easily manage your MATIC holdings without having to leave eToro.
How to Create a Polygon Wallet on eToro?
To create an MATIC wallet on eToro, you must first have an active account with the online trading platform and have purchased Polygon. Afterward, you can transfer the MATIC you bought from your eToro trading account to the eToro Money crypto wallet to automatically create your MATIC wallet.
Once you have transferred the crypto asset from your trading account to your newly created MATIC wallet, you can start sending or receiving MATIC to or from other wallets.
Take note: While creating a MATIC wallet is free, there may be fees associated with transferring the crypto asset from the trading platform. Additionally, it's not possible to purchase MATIC directly from the crypto wallet or convert it into other cryptocurrencies such as Bitcoin, Ethereum, or Ripple.
How to Transfer Polygon from eToro Wallet to a Wallet?
If you have purchased MATIC on eToro and would like to transfer it to a third party wallet, you can follow these steps:
- Obtain the Personal Wallet Address
You will need to obtain the wallet address from the third party wallet service provider. This is a unique string of characters that identifies your wallet on the Polygon blockchain. Make sure to verify the wallet address and ensure that it is correct. - Log in to eToro and Navigate to the Portfolio Page
Log in to your eToro account and navigate to the portfolio page. Find the Polygon (MATIC) investment you would like to transfer to your personal wallet and click on it. - Click on "Send"
Click on the "Send" button, which is located next to the Polygon investment. - Enter the Transfer Amount and Personal Wallet Address
Enter the amount of MATIC you would like to transfer to your personal wallet and the personal wallet address you obtained in step 2. - Check and Confirm the Transfer
Check the transfer details to ensure that the amount and wallet address are correct. Once you have verified the details, click on the "Send" button to confirm the transfer. - Wait for the Transfer to be Completed
The transfer from eToro to your personal Polygon wallet may take several minutes to several hours to complete, depending on the current network congestion and other factors.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.