Polygon is an Ethereum layer-2 solution that could explode in 2022

Since the creation of bitcoin, the pioneer cryptocurrency, cryptographers have been following the trend and creating many other digital coins. These coins are more numerous than 6000, with many more in development. Polygon, also known as altcoins or bitcoin, is one of many cryptocurrencies.

Polygon developed in 2019. Initially, it was called “Matic Network”, but it was later renamed to polygon. Its primary purpose was to solve the scaling issue on Ethereum blockchain, without having to pay high gas fees. These are the top reasons to consider buying Polygon . if you’re an investor looking to add this cryptocurrency to your portfolio.

1. Polygon’s use in the decentralized finance (Defi) industry

As stated previously, the main goal of polygon was to increase the number of transactions on Ethereum Blockchain while keeping transaction costs as low as possible. Polygon has achieved both these goals so far. This cryptocurrency is quickly being adopted by many Defi developers because of its attractive features. Polygon is a fast, affordable and easy-to-use cryptocurrency that has become a market leader.

Considering that the Defi industry is now worth more than $100 billion, you could make some good money investing in this coin if it continues gaining traction in the industry. Uniswap V3 was also launched recently on the Polygon ecosystem, bringing more Defi users and developers to the polygon network. Its price will rise as more people use it.

2. Polygon has a clear plan

Very few of the more than 6000 available digital coins have a clear plan for what they want to accomplish in the feature. Many of these projects are a dump and pump project that aim to raise a few dollars, then fade into infamy. Polygon is one of the few projects to have a clear path. The project provides real and practical solutions for the finance industry.

As an investor, it is important not to invest in projects that promise profits but have no defining features. You should carefully consider the project’s team, their experience, skills and feature perspective. Polygon’s team has demonstrated their seriousness in providing solutions and convenience for the cryptocurrency industry. Their most prominent solution is their scaling feature, which has been able to evade many other blockchains. They are continuing to explore ways to improve their platform.

3. Polygon has an impressive market capitalization

Market capitalisation is the value of all the coins that are in circulation. Capitalization is the sum of all coins that are in circulation and their current prices. This is a measure of stability for a cryptocurrency. The market cap is a measure of how stable a digital currency is. This means that even if the market fluctuates from time to time, it will not affect the price of the coin.

The current market capitalisation of Polygon is just above $15.7 billion. This value is relatively stable compared to the leading digital coin, bitcoin, with a market cap of about $794 billion. Polygon is currently ranked at number 13 in terms of this metric of all cryptocurrencies. This coin is an excellent investment. It will continue to grow in the coming years, even if it is not at a rapid pace.

4. Polygon has strong partnerships

To find out if a project is viable, look at its partners. Most cryptocurrency projects are pump and dump developments whose aim is to collect as much cash as possible, especially during initial coin offerings, then fizzle with their investors’ money. Polygon is different from other digital currencies like bitcoin and Ethereum.

It attracted serious potential partners like the Kyber Network, GraphLinq Protocol. The Polygon platform is being used by Kyber Network to increase the liquidity of their application. It has created Rainmaker, the first liquidity mining software, using this scaling solution. Polygon’s low gas costs have helped more people join its partnership with GraphLinq. This coin’s value will grow as more partners join the ranks.

5. Polygon has a low entry point

If all the appealing features of this coin aren’t enough to make you want to add it to a portfolio, then consider its nominal entry price. Most big projects that make the top 20 list of all cryptocurrencies are relatively pricey apart from a few. Polygon is one of those coins with potential, but whose prices are still very low.

Currently, the price of one MATIC is $2.18. You can buy more than a hundred units at this price at just more than $200. That is very low compared to a currency like Ethereum which is retailing at more than $3,500. If in a few years MATIC hits $50, which is very possible owing to its features and progress, you could make a very handsome profit. These coins can be added to your portfolio to spread your risk and diversify your investments.

Want more information on how to safely invest with Polygon? Check out our comprehensive Polygon buying guide here or purchase from our recommended platform below!