How to Buy Polygon (MATIC) in Canada

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Who writes this: Guides, reviews, and exchange comparisons are researched and maintained by the HowToBuyBitcoin101 Research Team, independent Canadian digital asset analysts evaluating platform solvency, order book liquidity, and regulatory compliance since 2018.
How we test: We open verified accounts, deposit Canadian dollars ($CAD) via Interac e-Transfer, execute real trades to calculate true bid-ask spread markups, and test withdrawal execution to cold hardware wallets.
Regulatory verification: FINTRAC Money Services Business (MSB) registrations and Canadian Securities Administrators (CSA) restricted dealer orders are cross-referenced with public provincial securities registers. Editorial policy.
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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 (MATIC/POL) in Canada?

Yes. Buying, selling, and holding Polygon (MATIC/POL) is legal across all Canadian provinces and territories. Regulated Canadian platforms operating as Restricted Dealers under the Canadian Securities Administrators (CSA) and Ontario Securities Commission (OSC)—including Newton, NDAX, and Kraken—have approved POL/MATIC for retail custody and trading following regulatory risk assessments.

Frequently Asked Questions

What factors influence Polygon's market value?
Polygon's ecosystem adoption depends on layer-2 transaction throughput, developer activity on the Polygon PoS and zkEVM chains, enterprise adoption, and competition from alternative rollup networks (such as Arbitrum, Base, and Optimism). The token functions as the core staking and gas token for the network. Digital asset markets are volatile, and tokens held on exchanges are not protected by CDIC or CIPF deposit insurance.

What happened to MATIC? Is it now POL?
In September 2024, Polygon officially migrated its native token from MATIC to POL as part of its Polygon 2.0 network upgrade. POL serves as the native gas and staking token across all Polygon chains. If your tokens are held on a regulated Canadian exchange (such as Newton or NDAX), the ticker migration is handled automatically. If you hold MATIC on an Ethereum hardware wallet, Polygon provides an official migration contract to swap MATIC for POL 1:1.

Can I buy Polygon directly through my Canadian bank?
Canadian chartered banks (such as RBC, TD, BMO, CIBC, or Scotiabank) do not sell cryptocurrency directly through online banking. Instead, you send Canadian dollars via Interac e-Transfer from your bank to a registered Canadian crypto exchange (such as Newton or NDAX), where funds are credited in minutes and converted to MATIC/POL.

What is the architectural difference between Ethereum and Polygon?
Ethereum serves as the decentralized base layer (Layer-1) prioritizing security and decentralization, which leads to periodic network congestion and elevated gas fees. Polygon functions as a Layer-2 and sidechain execution environment that batches and validates transactions off-chain before settling state commitments back to Ethereum, resulting in sub-cent transaction fees and multi-thousand transaction-per-second (TPS) capacity.

Which network should I select when withdrawing Polygon to my wallet?
If your exchange supports both the native Polygon PoS network and the Ethereum network (ERC-20), select the native Polygon network for withdrawals. Native Polygon withdrawals typically cost less than $0.05 CAD in network gas fees, compared to $2.00 to $15.00+ CAD for Ethereum ERC-20 transfers. Verify that your destination wallet (e.g. MetaMask, Ledger, or Trezor) is set to receive on the Polygon network address.

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