Buying the hype can be catastrophic but it can also be quite profitable in the crypto-sphere these days.
Today I decided to take a risk and buy the hype so I added 64 more MATIC in my wallet.
The reason behind my investment is the hype around Polygon and it's native token MATIC the past few weeks. According to Coingecko, Polygon is ranked #13 in terms of Marketcap and #1 in Coingecko's trends.
What I am trying to do is take advantage of the hype and sell some MATIC for some sweet profits. Don't get me wrong though, I love Polygon!
I am already holding some MATIC as a long-term hold for months now and I really believe that a ton of dapps will be build or start migrating to Polygon due to it's super-super-low transaction fees ($0.00003969), scalability, security and of course user/developer-friendly ecosystem.
For example, I'm a complete noob when it comes to yield farming but I found it very easy to start Farming on Polygon with PolyDragon Finance
With just a few clicks, I was able to swap my MATIC for FIRE Tokens using Quickswap (https://quickswap.exchange/#/swap) and stake them in the PolyDragon Den.
I've already harvested my rewards more than 20 times and the transaction fees for doing so weren't even $0.01 in total lol! Gotta love Polygon!
Is Polygon a new BSC in the making?
I don't know about you but I am feeling really bullish on Polygon. Binance Smart Chain's native token BNB skyrocketed from $40 to $600 just because ETH transactions were so expensive. Could the same thing happen with MATIC...
Polygon is decentralized, it has faster as well as 800x cheaper transaction fees than BSC and people are starting to notice! My guess is that we're gonna witness Polygon (MATIC) rally the next few weeks so count me in for some profits hehe!
Useful Links
Polygon Technologies : https://polygon.technology/
Polygon Papers : https://polygon.technology/papers/
Polygon (MATIC) on Coingecko : https://www.coingecko.com/en/coins/polygon
P.S. - This is not a financial advice. Do you own research when it comes to investing and never invest more than you can afford to loose
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