If you're interested in using CFPoly.io to launch a crowdfunding campaign on the Polygon chain but don't know where to start when it comes to obtaining Matic, the main currency used on the network, we're here to help. Here are three simple ways to get started:
If you're unfamiliar with the concept of wallets, investing in cryptocurrency or blockchain technology, we advise that you read through all the steps below. However, if you're an intermediate user, feel free to skip ahead to the steps that apply to you.
Before you can buy Matic or participate in activities like staking or liquidity provision, you'll need to set up a cryptocurrency wallet. This is like a digital bank account that holds your cryptocurrencies. There are many types of wallets available, but the most secure ones are hardware wallets like Ledger and Trezor. Desktop wallets like Metamask are also popular, but make sure you download them only from a trusted source.
Cryptocurrency exchanges are like banks, but instead of holding dollars or euros, they hold cryptocurrencies. You can purchase Matic on many exchanges, like Binance or Kraken. To buy Matic, you'll need to create an account, verify your identity, link your payment method, and purchase Matic like any other currency.
Decentralized finance (DeFi) platforms like Uniswap and SushiSwap allow you to exchange other cryptocurrencies for Matic without having to go through a centralized exchange. These platforms can be thought of as open markets where different cryptocurrencies are traded. To use them, you'll need to connect a wallet like Metamask to the platform, and you will need to ensure you have other cryptocurrencies to trade with.
For more experienced users, it's possible to earn Matic by participating in activities like staking or liquidity provision. Staking involves holding a certain amount of Matic in a wallet to power transactions on the Polygon chain and earning interest on that activity. Liquidity provision, on the other hand, involves providing a certain amount of cryptocurrency to a DeFi platform like QuickSwap to power trades and earn a share of the fees.