Is Polygon (MATIC) A Good Investment For 2021?

What You Need To Know

The Polygon Network, previously referred to as MATIC, is a layer-2 sidechain built on the Ethereum Network. Polygon is a commonly used framework in the DeFi world and is frequently used by users of the Ethereum Network in order to avoid reduce gas fees (Gwei).

Now, in order to understand Polygon, we have to understand what layer-1 and layer-2 are. A common analogy to understand the differences is this; Bitcoin is a layer-1 and the Lightning Chain is layer-2. Layer-1 (L1) is essentially the blockchain technology and layer-2 (L2) is the technology operating on the blockchain to improve efficiency, speed, scalability, etc.

What Is Polygon?

Polygon is an L2 that is designed to provide much faster and efficient transactions on the Ethereum Network. This results in fees that are literal pennies, as opposed to the >$100 fees one would pay at the time of this writing. So now you see why Polygon rocketed from $.30 to well over $2.00 during the insane crypto bull-run earlier in the year, as Gwei was extremely high and a solution like Polygon was needed. But why is Polygon a long-term hold, especially since ETH 2.0 will supposedly fix these efficiency and Gwei issues (estimated to be completed in 2022)? Let’s dive into it.

Is Polygon Relevant?

We’ve established that Polygon is a coin with legitimate utilization on the Ethereum Network (and they do a fantastic job at it), however, we have also run into the question of, “What will happen when ETH 2.0 is fully released?’ Here is my answer: Polygon is worth ~$9 billion, they have funding from Coinbase Ventures, and some of the best in the business are on their advisory board.

If Coinbase Ventures had any reason to think that Polygon won’t be relevant in the coming years because of ETH 2.0 then they would remove their investment.

Advisory Board

Polygon’s advisory board consists of five people, two of which should catch your eye; Ryan Sean Adams and Pete Kim. Ryan Sean Adams, the creator of Mythos Capital and the founder of Bankless, is heavily invested in crypto. In fact, Mythos Capital is described as “Mythos Capital is an investment company that holds cryptoassets and services cryptonetworks.” and Bankless is “The Ultimate Program for Crypto Finance.” Pete Kim is the Head of Engineering and Head of the Coinbase Wallet at Coinbase, a massive position.

I strongly encourage you look into these two, as well as the rest of the team! Needless to say, these guys know crypto and they know it well. Polygon is a legitimate project with legitimate goals and plans to be relevant and viable in the crypto space well beyond the full release of ETH 2.0.

What Does This Mean For Investors?

Well, there are a few things- one could simply buy from an exchange, like Voyager, and hold long-term or one could buy Polygon on an exchange (or elsewhere) and then staking it, whether that be on a third-party platform or within the exchange you bought it from, and then holding.

Personally, I believe Polygon is going to adapt and become a competitor to the other top coins in the crypto space. Polygon has an incredible team behind them, tons of funding, and great backing from Coinbase Ventures. There is no reason, in my mind, why Polygon cant make massive waves in the future and this is why I believe that we will see Polygon evolve and expand its footing in the crypto space.


Top 3 Crypto Investments for September 2021

September has been a historically bloody month for the stock market (so it’s a good thing this article is about crypto!), but that doesn’t mean our portfolios have to be! Here are my top 5 cryptocurrencies for the month of September!

1) Cardano ($ADA)

Cardano, led by Charles Hoskinson, has been on an absolute tear as of late. With a market cap of ~$80 billion, this coin is no joke and is here to stay. Cardano smart contracts go live on 9/12/21 and will usher in a new wave of DApps, NFTs, and more (i.e. more investment opportunities). For this reason, Cardano is on the top of my list! Read more here – Cardano

2) VeChain ($VET)

VeChain, a platform geared for supply chain management, has been making waves in the crypto space, especially with its backing from the Chinese Government and partnerships with Walmart, DNV, and more. With a price of ~$.118, anything below $.25 is a great buying point! Although this coin does not have any big catalysts coming this month, I believe that this is an incredible buying opportunity to hold for the long term! Read more here – VeChain 

3) Klever ($KLV)

Klever, a much lesser-known project amongst the crypto world, has recently unveiled its Klever Exchange and has plans for releasing its own blockchain. Klever has a market cap of only $230 million, which is much lower than the previous two coins and poses a greater risk/reward scenario for its investors. But as a user of the Klever Wallet and Klever Exchange, I can assure you that there are very few things in crypto that I think do it better. Klever is much easier to navigate, the fees are small, and there are tons of options for swaps and buys. Klever is roughly worth $.04/token and has tons of room for market cap growth, with a strong team and a great product this is a great investment opportunity (if you’re willing to take the risk)!

In conclusion, these three cryptocurrencies all have their pros and cons, but amongst these, I believe that the pros vastly outweigh the cons. However, this is crypto and things are volatile and move quickly, take this all with a grain of salt, do your own research, assess the outcomes, and tread lightly! Regardless of if you choose to buy or not to buy these cryptos, I hope you take the time to read more about them and really see all the amazing things that are happening in crypto every day.