POL-ZAR price

POL (previously MATIC) is the native cryptocurrency of the Polygon blockchain. It is used to pay transaction fees on that network and to secure the platform through staking.

Right now, 1 Polygon is worth R .

Right now, 1 South African rand is equal to POL.

Polygon is a sidechain of Ethereum providing faster and cheaper transactions. Originally launched in 2020 as Matic Network, it was renamed Polygon in 2021.

The value of POL is basically linked to how thriving the Polygon ecosystem is. Considering that it is today one of the largest and most active sidechain ecosystem of Ethereum, it is an investment worth considering. Like any investments, it is risky and you should only invest after having carefully studied Polygon.

POL has been classified as a security by the US Securities and Exchange Commission (SEC) in 2023. In most of the rest of the world, POL is not classified as a security.

POL is not mined like Bitcoin is, since the Polygon network uses a Proof-of-Stake mecanism. Therefore, POL coins are distributed as rewards to validators and delegators who participate in securing the Polygon blockchain.

To stake POL, go on staking.polygon.technology, login by connecting a wallet on which you have POL (on Ethereum), choose a validator from the list, then follow instructions to delegate your POL tokens to that validator.

The price of POL refers to a global price that is calculated by making a volume-weighted average of its real-time price on many different exchange platforms where it is traded, such as Binance, Bybit, OKX, Coinbase, Kraken, etc.

You never store POL in itself. Instead, you store the private key giving you access and control over a POL address. That key is stored in a wallet, which provides an interface to use it. To learn more, read our in-depth guide on storing crypto assets.

To send POL, you use a Polygon wallet like Bridge Wallet where you will choose the amount to send and the destination address. Confirm and send, that's it!

You can buy Polygon with us here from South Africa by sending us bank transfers in ZAR, avoiding that way unnecessary currency exchange fees. For more information, have a look at our step-by-step tutorial on how to buy Polygon.

You can swap Polygon here against one of the cryptocurrencies that we support, using any self-custodial Polygon wallet. For more information, have a look at our step-by-step tutorial on how to swap Polygon.

To cash out Polygon with us, you simply need to transfer your crypto to our address. We'll convert your POL in ZAR, then transfer the funds to your bank account in South Africa. For more information, have a look at our step-by-step tutorial on how to sell Polygon.