Polygon is a cryptocurrency on the Ethereum blockchain. At the same time, Polygon is the name of the network on which the token operates. Initially, the token was launched in 2017 under the name MATIC. But in 2021, it was rebranded to Polygon. 

The transaction fee is about $0.002, while the transaction speed is around 7000 TPM, which is an excellent figure for cryptocurrencies. So, Polygon could be a great asset to invest your money in and exchange it for fiat currency when needed. There are multiple ways to do that.

Use Polygon Cryptocurrency Exchanges
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Use Polygon Cryptocurrency Exchanges

The most popular way to convert your Polygon tokens to fiat currency is through a cryptocurrency exchange. Just follow these simple steps:

  • Choose a cryptocurrency exchange and make an account on the platform. 
  • Link your bank account to this account to facilitate a smooth transfer.
  • Decide how many tokens you want to exchange, and send them from your crypto wallet. 
  • Select the fiat currency you wish to exchange it for. 
  • The amount will be transferred to your account once the transaction is processed. 
Sell Polygon to Another Person
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Sell Polygon to Another Person

Another method of exchanging your Polygon coins for traditional money is selling them to another person. Below, we discuss two types of platforms that enable you to do it.

Firstly, P2P platforms allow you to conduct your transactions directly with the person you want. Select a buyer for your Polygon tokens, and enter the buyer’s wallet address. Once the tokens are transferred, the buyer will send the due amount to your bank account. 

Secondly, brokerages are cryptocurrency exchange platforms that involve a third-party institution to oversee the process. In other words, a broker supervises the complete transaction process, so you don’t have to worry about anything. You only need to pay a brokerage fee for using the service.

Use Polygon ATMs
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Use Polygon ATMs

Cryptocurrency ATMs allow you to exchange your crypto tokens for fiat currency directly. However, there are no Polygon ATMs at the moment. Yet, we expect them to appear soon because of the token’s popularity.

FAQs

Can I exchange my Polygon coins for fiat currency?

Yes, you can exchange Polygon tokens for fiat currency through a cryptocurrency exchange or by selling them to another person.

How do I sell my Polygon tokens to another person?

You can sell your tokens to another person using P2P or brokerage platforms. 

Does it take long for Polygon transactions to go through? 

With a transaction speed of 7000 TPM, there aren’t many digital currencies that can process transactions more quickly. 

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