MATIC (POLYGON) to MATIC (ERC20) Crypto Exchange | Convert Polygon (POLYGON) to MATIC (ERC20) on ChangeNOW (2024)

FAQs

How to convert MATIC to ERC-20? ›

Choose the exchange pair: Polygon vs Matic (ERC20), in this case. Enter the address of the recipient to process the Polygon - Matic (ERC20) transaction. Check the rate: how many MATIC in Matic (ERC20) you'll receive. Confirm the transaction, make the deposit, and you've converted 1 Polygon to Matic (ERC20)!

What is the difference between MATIC on Polygon and Matic on Ethereum? The short Matic (Eth) is an ERC20 token on the Ethereum blockchain. Matic (Polygon/Matic) is the native token on the Polygon blockchain (the secondary scaling solution mentioned above).

For MATIC holders on the Polygon PoS chain, no action is needed. Your tokens will automatically convert to POL, and POL will become the native gas and staking token on Polygon PoS without requiring any effort from you.

Safely exchange your ERC20 tokens through Ledger

In the Ledger Live app Swap tab, select any ERC20 tokens and the accounts of origin and destination. Enter the amount you want to exchange and check the rate. Before confirming the swap, you'll see a summary on Ledger Live.

Wrapped Matic (WMATIC) is a tokenized version of the native cryptocurrency Matic (MATIC) on the Polygon network. It is created by "wrapping" Matic, which means depositing it into a smart contract that issues a corresponding token on another blockchain, typically Ethereum.

Low transaction costs: Polygon boasts significantly lower transaction costs than Ethereum. Compatibility: Polygon is fully compatible with the Ethereum Virtual Machine (EVM), meaning that developers can use the same tools and languages to build on Polygon as they would on Ethereum.

Polygon MATIC Wallet. Polygon (MATIC) is a cryptocurrency and blockchain scaling platform. Its main goal is to connect blockchains with each other and make them scalable. Polygon is, therefore, called an interoperable token.

The easiest way to swap MATIC is to use an instant crypto converter. Experience fast and convenient exchange of Polygon or any other cryptocurrency by choosing from 1000+ assets available on our service. To expand users capabilities, we also added popular fiat currencies such as USD, EUR, JPY, MXN and much more.

Do I need to swap my MATIC for pol? ›

For holders of MATIC on Polygon PoS, no action will be required. POL will be upgraded automatically to become the native gas and staking token on Polygon PoS without having to lift a finger. That said, users will need to update the native token symbol in their wallet's network settings.

MATIC Weaknesses

The Proof of Stake chain has severe security tradeoffs compared to Ethereum, including a limited validator set (100), a 5-of-8 multisig admin key that can steal user funds, and regular (minor) chain re-orgs.

1 MATIC equals 0.38 USD. The current value of 1 Polygon is +1.48% against the exchange rate to USD in the last 24 hours. ​ The current Polygon market cap is $1.72B.

The Polygon network has two bridges — the Plasma Bridge and the proof-of-stake (PoS) Bridge — to validate transactions. The cheapest way to bridge Ether (ETH) to Polygon is via the PoS Bridge.

Wormhole. Known as the best Polygon to ETH bridge, Wormhole platform is not a cross-chain bridge itself. It is a messaging protocol that supports development and operations of on-chain bridge systems between heterogeneous decentralized networks.

However, if you wish to transfer your POL from Polygon PoS to Ethereum (convert them into ERC-20) or vice versa, you will need to use a bridge. You can bridge to and from Polygon PoS using the Bridge feature in MetaMask Portfolio, here.

The cheapest way to bridge USDT from Polygon to Ethereum is by using the bridge mechanism that connects the two different blockchain networks, allowing assets to be transferred from one network to another through the process of wrapping and unwrapping.

Polygon to Ethereum bridge fees

However, using the bridges mentioned before as an example, the gas fees of Matic Bridge can go from $42 to $200 while in Hop Protocol it's around 0.04% of the total transaction. In order to reduce these fees, you could optimize the transaction time.