New Token Alert: MATIC is Coming to BitMEX

BitMEX

Polygon fans – this one’s for you. MATIC is arriving to the BitMEX ecosystem. 

We’re about to launch MATIC (ERC-20) support, meaning you will soon be able to:

  • Buy MATIC with 36 fiat currencies. 
  • Convert Tether (ERC-20) into MATIC, and vice versa, with no hidden fees or the need to worry about slippage.
  • Deposit and withdraw MATIC via your BitMEX Wallet.
    • Note: The minimum amount you can withdraw/deposit is seven MATIC.

Coming soon: In early Q2 2022, BitMEX Spot will launch with ApeCoin, Bitcoin, Ether, MATIC, Tether, and a growing number of tokens available to trade on our spot exchange from day one.

If you haven’t yet signed up for a BitMEX account, click here.

What is MATIC?
Launched in late 2017, MATIC is an ERC-20 token that powers the entire Polygon network, a blockchain scalability platform for connecting and building blockchain networks compatible with Ethereum.

MATIC is one of the top 20 cryptocurrencies by market cap, and is used to drive development across the Polygon network. The token can be used to pay gas fees, as well as for staking and governance. According to CoinMarketCap, MATIC currently has a circulating supply of 4,877,830,774 tokens and a maximum supply of 10,000,000,000 tokens.

About the Polygon Network

Polygon is a layer-2 solution, meaning it acts as an add-on layer to Ethereum. Another example of a layer-2 solution is the Bitcoin Lightning Network, which reduces Bitcoin transaction costs.

The Polygon network pitches itself as “the internet of blockchains,” as it can connect any Ethereum-interoperable blockchain together, and be used to cut transaction costs and increase speeds. However, Polygon is not the only project that aims to increase transaction speeds on Ethereum. Other rival blockchains include Avalanche, Solana, and Cosmos.

Further Reading

Coming Soon to BitMEX: More Coins and Tokens

We’ve been working hard behind the scenes to enhance the accessibility of our platform. Over the coming weeks, we will be supporting more cryptocurrencies in the build up to the long-awaited launch of BitMEX Spot.

To be the first to know about the latest BitMEX product updates and launches, connect with us on Discord, Telegram, and Twitter. 

If you have any questions in the meantime, please contact Support.