How to buy some $MATIC to make transactions on Polygon
Gas Fee is a term used to describe the transaction fee taken by the Blockchain upon the execution of a smart contract. To be approved, every transaction happening on the Blockchain needs to be verified by others. Users that verify the transactions are called “Miners,” and to thank those contributors (Miners) for verifying a transaction and incentivizing them to make the network more secure, we give them a tip, a slice of the trade, also called “Gas fees.”
When doing transactions on the Ethereum Blockchain, you’ll have to pay the Gas Fees in the network's currency: $ETH. When doing transactions on the Polygon Blockchain, you’ll have to pay the Gas Fees in the currency of the network: $MATIC.
If you create a Token on Polygon through Coinvise, you’ll need $MATIC to do transactions with your newly created token. For example, each time you’ll want to send some of your tokens to someone, you’ll need your transaction to be secured by miners and will have to give them a tips - what we call gas fees - in $MATIC.
Step 2: Connect your Wallet by selecting your favorite option in the dropdown menu (use Wallet-connect if you’ve created a Rainbow Wallet).
Step 3: Once connected, click on the ‘Select a Token’ button as shown below.
Step 4: Type “Matic” in the search bar and click on Matic in the menu.
Step 5: Type the number of $ETH you would like to exchange for $Matic and click on ‘Swap’.
Step 6: From there, click on ‘Confirm Swap’ and sign the transaction you just received in your Wallet.
Step 7: You should have received $Matic in your Wallet that are on the Ethereum network, it’s now time to send them to the Polygon Network. Go to Polygon and click the ‘Polygon Wallet’ option on the left of the screen.
Step 8: Connect your Wallet by selecting your favorite option in the dropdown menu (use Wallet-connect if you’ve created a Rainbow Wallet).
Step 9: Go on the ‘Bridge’ tab on the left of your screen, then select Matic Token in the dropdown menu and select the amount of Matic you want to bridge to the Polygon Network as shown below. Once done, simply click on ‘Transfer’.
Step 9: Click on continue and approve all the other requests from Polygon. Then go to your Wallet and confirm the transactions.
Step 10: Once done, you should see appear your Matic on the Polygon Network by clicking on ‘Assets on Polygon’.
You’re all set! Congratulations 🚀🎉
Note: If it’s the first time you’re doing it, you might not see them appear in your wallet Automatically if you use Metamask.
To make them appear:
- Login to MetaMask on your browser and click on ‘Ethereum Mainnet’.
- From the dropdown, select ‘Custom RPC’.
- Enter the following information into the available fields:
- Network Name: Polygon
- New RPC URL: https://rpc-mainnet.maticvigil.com/
- ChainID: 137
- Symbol: MATIC
- Block Explorer URL: https://polygonscan.com/
- Click ‘Save’.