Purchasing NFTs and in-game currencies for NFT games often requires cryptocurrency. This guide explains the step-by-step process to acquire MATIC (Polygon), the native token of the Polygon chain, through a crypto exchange. By following these instructions, you'll be able to easily obtain MATIC for your needs.
Understanding the Process: From XRP to MATIC
Since direct trading pairs like XRP/MATIC are not commonly available on exchanges, you will first need to convert your XRP into a stablecoin, typically USDT (Tether). This stablecoin will then be used to purchase MATIC.
What is USDT (Tether)?
USDT is a type of cryptocurrency known as a stablecoin, issued by the company Tether. It is designed to maintain a stable value by being pegged to the US dollar. This price stability makes it a useful intermediary for trading between different cryptocurrencies.
Step-by-Step Guide: Converting XRP to USDT
Step 1: Log In to Your Exchange Account
Navigate to your exchange's official website and log in to your account. Once on the dashboard, locate the "Assets" section, usually found in the top menu, and select the "Spot" wallet option to view your balances.
Step 2: Select the XRP/USDT Trading Pair
Find the XRP asset in your spot wallet list. If it's not immediately visible, use the search bar at the top of the page to type "XRP." Click on XRP, then from its menu, choose the "Trade" option. This will present you with a list of available trading pairs; select "XRP/USDT" to proceed to the trading interface.
Step 3: Execute a Market Order to Sell XRP for USDT
You will now be on the XRP/USDT trading page. To convert your XRP into USDT:
- Select the "Sell" tab.
- In the order form, specify the amount of XRP you wish to sell.
- The interface will automatically display the estimated amount of USDT you will receive.
- Review the details and click "Sell XRP" to execute the trade.
A confirmation pop-up will appear. Verify the transaction details once more and confirm the sale. Your XRP will be sold, and USDT will be credited to your spot wallet almost instantly.
Step 4: Confirm Your USDT Balance
The newly acquired USDT will be reflected in your trading account immediately. You can always double-check your balance by going back to the "Assets" menu, selecting "Spot," and viewing your USDT holdings.
Step-by-Step Guide: Using USDT to Buy MATIC (Polygon)
Now that you have USDT in your spot wallet, you can use it to purchase MATIC.
Step 1: Navigate to the Trading Interface
Remain logged into your exchange account. From the main dashboard, access the trading section again by going to "Assets" > "Spot."
Step 2: Select the MATIC/USDT Trading Pair
Use the search bar at the top of the trading page to look for "MATIC." Select it from the results, then choose the "Trade" option. From the list of trading pairs, select "MATIC/USDT" to open the relevant trading window.
Step 3: Execute a Market Order to Buy MATIC with USDT
On the MATIC/USDT trading page:
- Select the "Buy" tab.
- Enter the amount of USDT you want to spend on MATIC.
- The interface will show the corresponding amount of MATIC you will receive.
- Click "Buy MATIC."
A confirmation window will appear. After reviewing the details, confirm the purchase. The transaction will be processed, and the MATIC tokens will be added to your account. 👉 Explore more trading strategies
Step 4: Confirm Your MATIC Balance
Your newly purchased MATIC will be instantly available in your spot wallet. To confirm, return to the "Assets" menu, select "Spot," and look for MATIC in your list of holdings. If you don't see it immediately, use the search function within your wallet by typing "MATIC."
Frequently Asked Questions
Q: Why can't I buy MATIC directly with XRP?
A: Most exchanges do not offer a direct XRP/MATIC trading pair. Using a stablecoin like USDT as an intermediary step is a standard practice. It provides liquidity and simplifies the trading process between two cryptocurrencies that aren't directly paired.
Q: Is USDT safe to use for trading?
A: As the largest and most widely used stablecoin, USDT is generally considered a reliable medium of exchange on crypto platforms. Its value is designed to remain stable, pegged to the US dollar, which minimizes price volatility during the brief period you hold it between trades.
Q: What are the fees involved in this process?
A: You will typically encounter two types of fees: a trading fee (often a small percentage of the trade value) for both the XRP/USDT sell order and the USDT/MATIC buy order, and potentially a network withdrawal fee if you move your MATIC to an external wallet.
Q: How long do these transactions take?
A: Trading on an exchange is almost instantaneous. The entire process of selling XRP for USDT and then buying MATIC should only take a few minutes to complete, as it occurs on the exchange's internal ledger.
Q: Can I use a different stablecoin instead of USDT?
A: Yes, many exchanges offer other stablecoins like USDC or DAI. However, USDT often has the highest trading volume and the most trading pairs, making it the most liquid and commonly used option for these kinds of transactions. Always check which stablecoin pairs (e.g., MATIC/USDC) are available on your exchange.
Q: What should I do after buying MATIC?
A: For long-term holding or use on the Polygon network, it is safer to withdraw your MATIC from the exchange to a self-custody wallet where you control the private keys. If you plan to trade it frequently, you may choose to leave it on the exchange. 👉 Get advanced wallet management methods