How to stake Polygon in Canada

Bitbuy makes it easy for Canadians to stake Polygon and start earning crypto rewards in Canada

Take Your MATIC to the Next Level by Earning Staking Rewards!

Earn up to 4.88%in Polygon (MATIC) staking rewards on Bitbuy by holding some or all your favourite cryptocurrencies in a stable and regulated environment and enjoy a passive income that is paid to you every hour.

Polygon (MATIC)
Earn 4.88% Yearly
Minimum
0.1 MATIC
Payout period
Every hour
Bonding period
3 days
Unbonding period
N/A*

*Bitbuy users enjoy the ability to unstake any time.
Note: The reward rate posted here is an estimation, and may be updated on a monthly basis.

Calculate my rewards

Earn Passive Income with MATIC Staking Rewards

By staking your MATIC holdings on the Polygon network, you can earn up to 4.88% in passive income and watch your investment grow by locking in your cryptocurrency assets for any length of time you choose. Earnings from staking rewards are issued every hour., and every transaction is encrypted using SSL technology and two-factor authentication, offering you an additional layer of security. Bitbuy gives clients some of the best staking reward rates in Canada today, which means more of your money is allocated directly to you. Check out our handy calculator to see how much you can earn here.

Bitbuy Makes Staking Polygon Crypto Simple

With MATIC staking, you can take comfort in the fact that the entire process is quick and easy.

Step 1. Deposit funds with the fiat currency of your choice.

Step 2. Designate the amount you want to invest,

Step 3. Select MATIC as the crypto you wish to stake.

Remember, your crypto holdings will never leave your account, and funds will be paid out hourly. Since Bitbuy is your primary digital platform, you can be confident that your assets are safe and secure. Plus, you can unstake your MATIC investment at any period and withdraw your funds.

How MATIC Staking Rewards Work

Here is a breakdown of how staking your MATIC holdings works:

· Polygon uses a Proof-of-Stake (PoS) cryptocurrency consensus mechanism that verifies transactions and builds new blocks through randomly selected validators.

· MATIC is the native cryptocurrency on the Polygon network.

· Validators are chosen based on how many MATIC coins they have locked up in the blockchain network.

· MATIC holders can stake their tokens to a minimum of one validator to the Polygon network.

· Anyone who owns even a single MATIC token can stake their coins to one or multiple validators.

· MATIC holders can stake on the Polygon network.

· After the tokens are picked to validate a block, stakers will earn a MATIC staking reward.

Why Bitbuy is Your Best Choice for MATIC Staking

Flexibility

By staking on the Bitbuy platform, clients never have to worry about extended lockup and unbonding periods. Put simply; holders can unstake and withdraw anytime. It's that easy!

Speed & Efficiency

Staking transactions on Bitbuy are always fast and efficient. The process is simple enough: Connect your bank account directly to Bitbuy to fund your account or withdraw. If life were only that easy!

The Lowest Fees

Today, Bitbuy maintains the lowest staking fees in Canada. By relying on a Canadian-based digital platform, you do not need to worry about foreign-exchange fees.

Award-Winning Customer Support

The customer support team can answer all inquiries, questions, and concerns that you may have. You can visit our support page, which has plenty of answers to your questions or reach out to our terrific customer support staff.

Safe and Secure

Bitbuy is Canada's most reputable cryptocurrency platform! Bitbuy is also the first Toronto Stock Exchange-listed company and one of the few Ontario Securities Commission-registered crypto trading platforms in the nation to be given regulatory approval to offer clients staking.

Bitbuy does not participate in fractional reserves, and we do not loan out your assets to earn rewards. Your assets are always maintained at a 1:1 ratio. Check out our latest Proof-of-Reserves audit here.

 

FAQ

What is MATIC?

MATIC is the native cryptocurrency of the Polygon network that is utilized to facilitate development across Ethereum-compatible blockchain networks. It can be used for transactions and staking.

How Much MATIC do I Need to Stake?

There is a minimum amount required of 0.1 MATIC to start staking on Polygon. You can stake a single token or thousands of tokens.

The objective is simple enough: The more you stake, the more you earn.

How do I Buy MATIC in Canada?

The only way to acquire tokens is to purchase MATIC on a cryptocurrency exchange like Bitbuy. So, all you will need to do is launch a Bitbuy account, and then you can buy as much or as little MATIC as you want.

Where is the Best Place to Stake MATIC?

Since the first cryptocurrency was mined more than a decade ago, the crypto industry has flourished, from the number of businesses that accept digital currency to the creation of some of the best crypto exchanges worldwide. One of the best online crypto trading platforms is Bitbuy. This is a Canadian-owned and operated cryptocurrency platform for all types of investors, be it novice traders who want an easy-to-use user experience or advanced traders who are searching for the best tools to buy and sell crypto. Whether you are searching for top-notch security or low fees, Bitbuy offers you exposure to a treasure trove of coins, including MATIC.

Do the 4.88% Staking Rewards Fluctuate?

Like other staking coins in the crypto ecosystem, MATIC rewards will be higher to start and will fall as the locked supply percentage increases. In addition, Polygon will allocate 12% of its total inventory of ten billion tokens to fund staking rewards.

Is Polygon Proof of Stake or Proof of Work?

MATIC uses a Proof-of-Stake (PoS) consensus mechanism to operate the Polygon network. Polygon has been widely celebrated for replacing the costly and energy-intensive Proof-of-Work (PoW) consensus mechanism.

How Often Are Staking Rewards Paid by Bitbuy?

Bitbuy will begin depositing your MATIC staking rewards into your crypto account every hour.

How Much Can I Earn Staking MATIC?

You can earn up to 4.88% on the amount you staked. Your staking rewards can grow faster by automatically re-staking the rewards, allowing you to compound your returns.

Can You Lose MATIC by Staking?

Although staking is a safe and secure investment decision, the trading strategy does pose some risks, much like any other investing endeavour. Please refer to Bitbuy’s MATIC Staking Risk Acknowledgement.

The most significant concern with staking is typically slashing. This means missed rewards from validator errors or infrastructure downtime. Bitbuy prevents slashing from happening by partnering with some of the top infrastructure providers in the digital economy today. One of these is Figment, a firm that has manufactured Bitbuy's systems and processes that can immensely diminish the odds of a slashing event.

Moreover, it should be noted that crypto staking is far safer than crypto lending. Staking rewards originate from the blockchain protocol, while lending generally consists of credit risks. Your staking rewards stem from issuing new tokens instead of depending on a borrower to repay a loan.

How Long Can You Stake MATIC?

You can stake MATIC for as long as you want; there is no maximum.

What is the Best Staking Coins?

Here are the top five cryptos to stake today on Bitbuy:

· Polygon (MATIC): A PoS consensus mechanism that processes on-chain transactions that enjoys security from Ethereum.

· Ethereum (ETH): A PoS cryptocurrency that supports the underlying technology in the industry.

· Solana (SOL): A PoS blockchain platform that hosts decentralized, user-friendly, and scalable applications.

· Cardano (ADA) (Coming soon in 2023): A PoS blockchain platform that supports peer-to-peer transactions and serves as an alternative protocol to PoW networks.

· Polkadot (DOT) (Coming soon in 2023): A PoS blockchain and cryptocurrency that connects blockchains, facilitating the flow of data and value across multiple networks.

· Cosmos (ATOM) (Coming soon in 2023): A PoS cryptocurrency that supports an environment of blockchains that can scale and interoperate with others. The goal is to manufacture an "Internet of Blockchains."

How Safe is Staking MATIC?

Staking your MATIC on Bitbuy is safe and secure. All your staked crypto assets will be stored by our institutional-grade BitGo, a compliant digital asset custody solutions provider and market leader. For MATIC, your holdings will be locked in a deposit smart contract that will be in the control of BitGo on Bitbuy's behalf.

Earn rewards by staking your crypto

Sign up
Ethereum (ETH)
Earn 3.30-4.87% Yearly
Stake ETH
Solana (SOL)
Earn 4.28% Yearly
Stake SOL
Polygon (MATIC)
Earn 4.88% Yearly
Stake MATIC
Polkadot (DOT)
Coming soon!
Stake DOT
Cardano (ADA)
Coming soon!
Stake ADA
Cosmos (ATOM)
Coming soon!
Stake ATOM

Start earning staking rewards in 3 easy steps

1
Buy and hold eligible crypto
Choose one of the eligible coins and purchase it if you do not own it
2
Choose an amount to stake
Once you own the eligible coin, choose how much you would like to stake

3

Earn staking rewards
Start earning rewards paid out frequently while you HODL