How to buy Matic without gas? (2024)

Matic, also known as Polygon, is a popular layer 2 scaling solution for Ethereum that allows for fast and cheap transactions. However, when transferring assets between layer 1 (Ethereum mainnet) and layer 2 (Matic), you still need to pay high Ethereum gas fees. This can make buying Matic directly quite expensive.

In this guide, we will explore different methods to buy Matic without paying huge Ethereum gas fees. We will look at centralized exchanges, decentralized exchanges, and bridges that allow you to move assets between chains cheaply or for free.

Buy Matic on a Centralized Exchange

The easiest way to buy Matic without gas fees is through a centralized cryptocurrency exchange like Binance, Coinbase, or Crypto.com. Here are the steps:

1. Create an account on the exchange if you don’t already have one.
2. Deposit fiat currency like USD or EUR. This usually requires KYC verification.
3. Use the deposited fiat to buy a cryptocurrency like Bitcoin (BTC) or Ethereum (ETH).
4. Find the Matic trading pair, such as MATIC/USDT, MATIC/BTC, or MATIC/ETH.
5. Trade your BTC, ETH, or other coins for MATIC.

The major advantage of buying Matic on a centralized exchange is that you avoid all blockchain gas fees. The exchange handles all transactions off-chain, so you can buy, sell, and withdraw Matic without ever interacting directly with the Ethereum network.

However, there are some downsides to consider:

• Centralized exchanges require KYC verification.
• You don’t have custody of your private keys.
• Withdrawals can be delayed or denied by the exchange.
• There is counterparty risk since you rely on the exchange’s security and liquidity.

Overall, centralized exchanges are the most convenient and cheapest option for buying Matic if you are okay with the risks involved.

Use a Decentralized Exchange

Decentralized exchanges (DEXs) allow you to trade cryptocurrencies in a peer-to-peer manner without trusting a centralized intermediary. Popular DEXs that support Matic trading pairs include Uniswap, SushiSwap, QuickSwap, and Dfyn Network.

To buy Matic on a DEX without excessive gas fees, here are a few options:

Use a Layer 2 DEX

There are decentralized exchanges built specifically on layer 2 solutions like Matic to benefit from fast and cheap transactions. For example:

• QuickSwap is a Uniswap fork deployed on Matic.
• Dfyn is a decentralized exchange on Matic.
• Polydex is another DEX built on Polygon.

You can directly swap tokens on these DEXs without paying Ethereum L1 gas fees. Make sure to bridge some funds from Ethereum into Matic first.

Use MetaMask’s Layer 2 Deposits

MetaMask recently launched an “Ethereum Layer 2 Deposits” feature that lets you move funds into layer 2 solutions like Matic with just a few clicks.

Here’s how to use it:

1. Get some ETH into your MetaMask wallet on Ethereum mainnet.
2. Open the deposit pop-up by clicking on the Layer 2 button in MetaMask.
3. Choose Polygon and input the amount to deposit.
4. Confirm the transaction.

This deposits your ETH directly into Matic in a single transaction. You can then swap your ETH for Matic on a DEX like QuickSwap with negligible fees.

Bridge ERC20 Tokens

Several bridges like CrossChain and Hop Protocol let you transfer ERC20 tokens like DAI and USDC from Ethereum to Matic with low fees.

For example, you can:

1. Send DAI to the bridge contract on Ethereum.
2. Wait for the bridge to process the transfer.
3. Withdraw your DAI on Matic now.
4. Swap DAI for MATIC on QuickSwap.

This method avoids direct ETH transactions which are expensive. Make sure to research the bridge thoroughly as some can have security risks.

Buy Matic with Fiat

Some platforms allow you to directly purchase Matic tokens with fiat currency like USD or EUR through bank transfer or card. This completely eliminates gas fees. Some options are:

• AscendEX: Supports buying Matic through credit/debit cards.
• OKEx: Allows Matic purchases via fiat deposit.
• Gate.io: Supports Matic buys with wire transfer, PayPal, and Skrill.

The process typically looks like:

1. Deposit fiat currency.
2. Trade fiat for USDT stablecoin.
3. Use USDT to buy Matic.
4. Withdraw to a Polygon wallet.

Do note that buying Matic directly with fiat usually has higher fees and spreads. And there may be purchase limits unless you are fully verified.

Buy MATIC ETF

For investors who prefer to buy into a fund instead of purchasing the crypto directly, there are some ETF options that provide exposure to Matic and other layer 2 protocols.

For example:

• Defiance ETFs: Offers the $L2 ETF which includes MATIC and other layer 2 projects.
• Invesco Metaverse ETF: Holds MATIC among other metaverse and NFT-related cryptos.
• VanEck Digital Assets ETF: Provides diversified exposure to digital assets including a 1.58% allocation to Matic.

Buying shares of these ETFs allows you to gain price exposure to Matic without actually holding the tokens yourself. There are no blockchain transactions involved so you avoid gas completely.

However, the ETF share prices do not always align perfectly with Matic’s actual market price. And ETFs come with their own management fees which can eat into your profits. But they provide an easy and regulated way to invest in crypto for traditional investors.

Yield Farm Matic Rewards

There are opportunities to earn Matic rewards through yield farming on Polygon without paying gas. Here’s how it works:

1. Bridge tokens like ETH, DAI, or USDC from Ethereum to Polygon over a bridge.
2. Deposit the tokens into a yield farm on Polygon like Polycat Finance or Beefy Finance.
3. You will start earning rewards in MATIC and other tokens.
4. Claim the rewards and swap them for more MATIC.

By yield farming on Polygon, you can stack up a decent MATIC balance over time without ever paying a penny in gas fees. Just be careful to choose legitimate projects to avoid losing your deposits in a scam.

Some tips for yield farming Matic safely:

• Stick to established farms with strong TVL and track record.
• Don’t just chase APY – assess risks and sustainability.
• Monitor gas prices and claim rewards during off-peak hours.
• Use defensive strategies like auto-compounding vaults.
• Don’t put all your eggs in one basket – diversify across farms.

Get Paid in Matic

There are platforms within the Polygon ecosystem that allow you to earn MATIC and other tokens for free through simple actions like content creation, playing games, taking surveys, watching ads etc.

For example:

• SteakNetwork: Earn MATIC for submitting quality posts and comments on their blogging platform.
• CropperFinance: Play simple crypto games to win MATIC and NFT prizes.
• lazy.com: Take surveys, watch videos, complete tasks to claim MATIC and other token rewards.
• MB Exchange: Swap unwanted airdrops for MATIC.

The payout usually happens in the native token which you can easily swap for MATIC on Polygon DEXs. This allows you to stack up a healthy Matic balance without spending anything.

Do be selective about the platforms you use and avoid “free money” scams requesting excessive permissions or details. But otherwise getting paid in Matic is a nice hassle-free way to buy.

Get Free Airdrops

There are occasional airdrop campaigns – especially when new projects launch in the Polygon ecosystem – where you can claim some free MATIC tokens.

For example, recent MATIC airdrops were conducted by:

• Meditation.live for mindfulness NFT holders
• Polylastic for plastic waste awareness
• Frakt.art for their fractal NFT marketplace

You simply need to satisfy the airdrop conditions which usually involves holding/interacting with the project’s NFTs or tokens in some way. Then you can claim the free MATIC directly to your Polygon address.

There are also Telegram and Discord groups that curate information on the latest MATIC airdrops which you can follow.

Just be wary of potential scams and carefully review token addresses, contract codes, social accounts etc. before participating in any airdrop campaign to ensure it’s legitimate. But otherwise, airdrops can be a great free way to expand your Matic holdings.

Conclusion

While transferring Matic between Ethereum layer 1 and layer 2 is still expensive, there are many gas-free ways to directly purchase or acquire the tokens. This includes buying from centralized exchanges, decentralized platforms built on Matic, earning from staking/yield farms, getting paid for simple tasks, and claiming free airdrops.

Each method has its own pros and cons. Centralized platforms are the most convenient but come with counterparty risks. Decentralized options have more control but may involve some manual steps. Non-purchase options like staking and airdrops eliminate fees but provide variable yields.

Consider your specific needs and constraints to determine the optimal solution. But you have many options now to buy Matic that circumvent Ethereum’s high gas costs. With these gas-free methods, you can easily get your hands on Matic and start exploring what Polygon has to offer.