How to Buy Polygon (MATIC) in Canada

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How to Buy Polygon MATIC in Canada

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Polygon is an Ethereum scaling solution that makes transactions faster and cheaper. The native token was originally called MATIC and has since been migrated to POL — but most exchanges still list it as MATIC. Convert MATIC to CAD.

How to Buy Polygon in Canada

  1. Set up a Canadian crypto exchange account
  2. Set up a Polygon-compatible wallet
  3. Buy & send MATIC from exchange to your wallet
Platform MATIC Spread/Fee CAD Deposit Fee MATIC Withdrawal
Newton ~1.5% - 1.6% Free (Interac) Free Lane (nightly)
NDAX 0.20% Free (Interac) Flat network fee
Netcoins ~1.25% - 1.5% Free (Interac) Network fee
Kraken 0.16% - 0.26% 0.5% - 1.5% (Interac) Network fee
Wealthsimple ~1.5% - 2.0% Free (Bank / Interac) Network fee

1. Where to Buy Polygon: A Crypto Exchange

A cryptocurrency exchange is where you buy and sell Polygon (MATIC) in Canada.

Funding and deposit options: INTERAC e-Transfer, wire transfer or bank draft are the easiest ways to transfer funds between your bank account and the crypto exchange.

Payment options like credit cards and Paypal don't work for most exchanges and banks. E-transfer is the easiest and cheapest way for most Canadians to transfer funds.

There is a fee (spread) for this exchange, rates will vary.

Exchanges and banks in Canada comply with KYC (Know Your Customer) Laws. This means you will need to upload a photo ID and other documentation to verify your identity before you buy MATIC.

  1. Newton – Recommended for beginners. Low fees, easy to use, and 75+ altcoins including MATIC. Some users report signing up and the verification process can take time.

  2. NDAX – Recommended for buying and selling larger amounts. 0.20% flat trading fee. MATIC/CAD order book with limit orders.

  3. Netcoins – Netcoins is the first publicly owned crypto trading platform in Canada. Supports MATIC with Interac e-Transfer funding.

  4. Kraken – Global exchange with MATIC liquidity. 0.16%-0.26% maker/taker fees on Kraken Pro.

  5. Wealthsimple – Trade stocks and crypto in one app. Convenient if you already use Wealthsimple for investing.

Can I buy MATIC on Shakepay? No. Shakepay only supports Bitcoin, Ethereum, and USDC.

Compare Crypto Exchange Fees ➞

2. Set up Your Wallet

A cryptocurrency wallet is software that allows you to securely store, send and receive digital assets.

You can start with a Software Wallet (hot) to hold your MATIC. Some popular and trusted wallets are Exodus, Trust Wallet, and MetaMask. MetaMask works well with Polygon since you can add the Polygon network directly.

Hardware Wallets offer offline storage for more security. Trezor or Ledger are current market leaders. Security Tip: Buy your hardware wallet direct from the manufacturer.

IMPORTANT! Backup Your Wallet with a Seed Phrase

A seed phrase is 12 or 24 simple words the computer randomly generates for you. This is used to backup your crypto funds and allows you to regain access to your funds if something happens to your wallet.

Write your seed phrase on a piece of paper to back up your wallet. Put it somewhere very safe.

3. Send MATIC from Exchange to Your Wallet

SEND your MATIC from the exchange to your wallet RECEIVE address.

Important: When withdrawing MATIC, check which network the exchange sends on. Some exchanges let you choose between the Ethereum network (ERC-20) and the Polygon network. The Polygon network is much cheaper for withdrawals.

Tip Confirm the first and last 4 digits of wallet addresses to make sure you copied and pasted the wallet address correctly.

What is Polygon?

Polygon (formerly Matic Network) is a layer-2 scaling solution for Ethereum. It was created to solve Ethereum's high fees and slow transaction speeds by processing transactions on a sidechain while still using Ethereum for security.

In plain English — Polygon makes Ethereum usable for small transactions. Sending $10 worth of tokens on Ethereum might cost you $5 in gas fees. On Polygon, it costs a fraction of a cent.

Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun in 2017 and launched in 2020.

In September 2024, the MATIC token was migrated to POL as part of Polygon's technical upgrade. This caused some confusion — if you see "POL" on some exchanges and "MATIC" on others, it's the same thing. Most Canadian exchanges still display it as MATIC.

Is it legal to buy Polygon in Canada?

Yes.

Frequently Asked Questions

Is Polygon a good investment? I don't know. Do your own research. Polygon faces competition from other layer-2 solutions like Arbitrum and Optimism, but it has a strong ecosystem.

What happened to MATIC? Is it now POL? Yes. In September 2024, MATIC was officially migrated to POL. The token functions the same way — the rebrand is part of Polygon's technical upgrade. If you're holding MATIC on a Canadian exchange, it was (or will be) automatically converted. You don't need to do anything.

Can I buy Polygon through my bank? Not directly. You will need to send an Interac e-transfer or wire transfer to Newton or NDAX from your bank.

What is the difference between Ethereum and Polygon? Polygon is built on top of Ethereum. Think of Ethereum as the main highway and Polygon as an express lane. Same destination, but Polygon gets you there faster and cheaper.

Which network should I withdraw MATIC on? If your exchange gives you a choice between the Ethereum network (ERC-20) and the Polygon network, always choose Polygon. The fees are much lower. Just make sure your receiving wallet is set to the Polygon network too.

Conclusion - Where to Buy Polygon in Canada

Newton is the easiest exchange for beginners to buy Polygon (MATIC) in Canada.

Why I recommend Newton:

  • 75+ altcoins including MATIC
  • Low spread fees
  • Interac e-transfers for fast deposits and withdrawals
  • Send MATIC to your own wallet
  • Get a $20 Sign Up Bonus →

If you're buying larger amounts, NDAX has a 0.20% flat trading fee — much lower than spread-based exchanges.

You may also be interested in: How to buy Ethereum in Canada