Polygon (MATIC), the native cryptocurrency of the Polygon network, Ethereum’s layer 2 scaling solution, has gone a long way since it went public in April 2019. The company is securing more partnerships and onboarding more brands into web3, which is creating a lot of buzz around the token with a good number of crypto enthusiasts saying they’re bullish on it. In fact, a good number of MATIC holders have increased their portfolios in the second quarter of 2022—some of them now holding over 20 million tokens.
That said, if you’re thinking of swapping the tokens you hold for MATIC or the other way around (maybe swap your MATIC tokens for a stablecoin to protect your assets during the bear market), we’ve got the step-by-step guide you need below. Also, if you haven't already, go and sign up on Ka.app, an easy-to-use crypto payment and conversion app.
What Is Polygon (MATIC) Swap?
MATIC swap refers to the process of directly swapping or converting MATIC tokens for another currency or vice versa. In Ka.app, MATIC swap can be done in two different ways: using the Swap button for direct and easy token swaps, and using the Easy Swap Engine which allows you to automatically receive payments in MATIC or any other currency.
Why Do Crypto Users Swap Tokens?
Crypto users swap their tokens for various reasons. These may include but are not limited to the following:
- To balance their crypto portfolio
- To preserve their gains/yields
- To prevent losses during a bear market or crypto winter
- To easily cash out assets
- To use a specific type of currency for payments or transactions
Where Can You Swap Polygon Tokens?
There’s an increasing number of platforms that facilitate Polygon crypto swaps. Some of them are crypto payment apps like Ka.app, crypto exchanges, crypto swap sites, crypto wallets, a dedicated Polygon swap exchange, and more.
How to Swap MATIC for USDT and Vice Versa
One of the most common coins users swap MATIC for is the stablecoin Tether (USDT). Therefore, here’s a detailed guide on how you can swap MATIC for USDT or vice versa easily and instantly using Ka.app. We’ve created both guides for the Swap button and the Easy Swap Engine feature so you can use either, whichever works for you best.
1. Using the Swap Button
Let’s say you’re aiming to directly swap MATIC for USDT. Here’s how you can do it using Ka.app’s Swap button:
- Log in to Ka.app.
- Go to the home page and choose MATIC on the list of assets.
- Click “Swap.”
- Choose the USDT.
- Enter the number, or choose the percentage (10%, 25%, 50%, or 100%) of tokens you’d like to swap.
- Enter your pin code to confirm the MATIC to USDT swap.
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2. Using the Easy Swap Engine
On the other hand, here’s what you can do in case someone wants to send crypto in USDT but you want to automatically receive the payment in MATIC:
- Log in to Ka.app.
- Click the “settings icon” on the upper right part of the home page.
- Once the drawer opens, click “Easy Swap.”
- Tick “Enable Easy Swap.”
- On the first dropdown, choose USDT.
- On the second dropdown, choose MATIC.
As long as the Easy Swap button is enabled, you will automatically receive all USDT payments in MATIC. You may also customize it using other tokens (e.g., BTC to MATIC, or even all payments to MATIC).
How to Swap Polygon for ETH
Another common swap pair of MATIC is Ethereum (ETH). If you are considering this swap pair, just follow the Swap button or Easy Swap guide above, replace USDT with ETH and you’re good to go.
How Long Does a MATIC Token Swap Take?
You can complete a crypto swap, whether using Ka.app’s Swap button or Easy Swap Engine, in just a few seconds.
How Much Are Swapping Fees in Ka.app?
Swap-related transaction fees vary in Ka.app, depending on the number of tokens you swap and which currency you swap them for. Also, it’s good to note that those who have staked or locked up tokens in the app can enjoy some exchange benefits such as lower swap rates.
What Other Tokens Are Available in Ka.app?
As of writing, Ka.app accepts MATIC, BTC, ETH, USDT, USDC, and the KASTA token. The company is working on expanding the app’s utility so more currencies will be available soon, which may also include fiat currencies.
Is it Safe to Swap Crypto in Ka.app?
Yes. Ka.app conducts extensive Know Your Customer (KYC) checks for app sign-ups to prevent fraud, money laundering, and other illegal activities. In addition, the app uses two-factor authentication (2FA) to prevent unauthorized transactions. It requires a verification code (sent to your mobile number) each time you log in and requires a pin code when confirming swaps and other transactions.
Is There a Swapping Limit in Ka.app?
None. You can swap MATIC for another token as many times as you want using Ka.app’s swap features. To sign up on Ka.app, click here.
The Bottom Line
There are many possible ways to swap MATIC for another token, but if you prefer an easy yet secure option, you can use Ka.app’s Swap button or Easy Swap Engine. With these features, users can complete crypto swaps in just several seconds and for minimal transaction fees.
FAQ
What is the MATIC token?
MATIC is an ERC-20 token developed to support the Polygon network. It serves as a payment method for transaction fees in the Polygon network and at the same time connects Ethereum-supported blockchains and projects. MATIC tokens also secure and govern the Polygon network.
What are the use cases of the MATIC token?
MATIC can be used for transaction fees on the Polygon network, staking, and governance decisions (which means you’ll be able to vote for Polygon-related changes or developments). It can also be used as a payment method for peer-to-peer transactions and some business-to-consumer transactions.
What are the all-time low and all-time high prices of MATIC?
MATIC’s all-time low price was $0.003012 on May 9, 2019, while it reached $2.92 on December 27, 2021.
