Introduction to Polygon (POL)
Purchasing Polygon (POL) in Canada has become more accessible than ever, with trusted local exchanges and international platforms catering to Canadian residents. This guide walks you through the process of buying POL and other cryptocurrencies from any Canadian province.
Understanding the POL 2.0 Upgrade
Since September 4, 2024, Polygon upgraded its native token from "MATIC" to "POL" at a 1:1 conversion rate for existing holders. Developers describe POL as a high-productivity token supporting Polygon’s vision as an aggregated blockchain network. POL now serves as the native gas and staking token for the Polygon ecosystem.
👉 Learn more about POL’s utility
How to Buy Polygon (POL) in 4 Steps
- Compare Crypto Exchanges
Evaluate platforms that offer POL trading pairs. Focus on fees, security, and supported payment methods. - Create an Account
Complete identity verification (KYC) to comply with Canadian regulations. - Deposit Funds
Use Interac e-Transfer, debit/credit cards, or bank wires to fund your account. - Purchase POL
Execute a market or limit order through your chosen exchange.
Top 4 Exchanges to Buy POL in Canada
1. Bitbuy
- Pros: Reserve-audited, FINTRAC-registered, 20+ cryptocurrencies
- Fees: 0.5% trading fee, 1.5% Interac deposit fee
- Best for: Security-conscious traders
👉 Bitbuy’s transparent fee structure
2. Coinberry
- Pros: Low 0.5% trading fee, instant Interac deposits
- Cons: Applied spread on assets
- Best for: Beginners seeking simplicity
3. Coinsquare
- Pros: Advanced trading tools, CAD liquidity
- Fees: 0.1–0.2% for makers/takers
- Best for: Active traders
4. Netcoins
- Pros: OSFI-compliant, 30+ coins
- Fees: Free CAD deposits
- Best for: Diverse altcoin offerings
FAQ
Q1: Is POL a good investment in 2025?
A1: POL’s value depends on Polygon’s ecosystem growth. Research AggLayer developments and adoption metrics.
Q2: Are POL purchases taxable in Canada?
A2: Yes—report capital gains/losses to CRA. Use tools like CoinTracker for tax reports.
Q3: How do I store POL securely?
A3: Use hardware wallets (Ledger/Trezor) or Polygon’s native Pwallet for staking.
Key Takeaways
- Buy POL via regulated exchanges like Bitbuy or Coinberry.
- Stake POL to earn yields (current APY: ~5%).
- Monitor Polygon’s AggLayer upgrades for network scalability.