We list the best Polygon MATIC interest rates, APY, and staking rewards. In addition, we will guide you through the best places to deposit your MATIC so you will earn the highest ROI and get the best crypto APY interest rate.
Getting a yield on your cryptocurrency holdings to grow your portfolio over a long-term investment period is crucial.
As you can read below, Polygon MATIC will give you an excellent yield in different interest accounts.
No Financial Advice, Information only. Do your own research
Where can I earn the best Polygon MATIC interest rate?
The table below lists all the best places to receive Polygon interest on your MATIC holdings.
As you can see, the interest rates are suitable for the Polygon MATIC token.
We believe depositing into crypto interest accounts is the best crypto HODL long-term investment strategy for beginners.
Earn Polygon MATIC interest Payouts on NEXO
NEXO is offering the best Polygon MATIC interest rate. Here, you can get 9% APY which is excellent! However, to achieve the 9%, you must fulfill some criteria listed below.
However, to receive the best MATIC interest rate, you have to:
For example, to receive 9% interest on your Polygon, you have to:
- Become a Platinum Loyalty tier client by making sure 10% or more of your Portfolio Balance comprises NEXO Tokens (Up to 1% extra).
- Opt to earn your interest in NEXO Tokens for up to 4% additional interest.
- Create a 1-month Fixed Term for an extra 1% interest.
NEXO Pros and Cons
- Both desktop and app are available
- Fast and good support
- Insurance up to $375 million.
- Daily compound interest payouts
- Exchange feature
- Great fiat deposit on-ramps available
- NEXO crypto credit card from Mastercard
- Understanding all criteria to achieve the highest interest rates is a bit complicated.
MyCointainer Polygon MATIC Staking Rewards
Mycointainer offers the best staking rewards for Polygon MATIC and allows US investors to sign up and earn. Mycointainer is an online automatic staking masternode platform.
It’s a very easy-to-use and beginner-friendly interface. In addition, customer support is extremely fast to respond to any inquiries.
Kucoin Margin Lending Polygon MATIC Interest rates
Kucoin margin lending is a marketplace for peer-to-peer lending and borrowing.
Here, borrowers fund their margin with the help of this market, and lenders receive interest on their holdings.
Kucoin lending is available for US customers.
Crypto.com Polygon MATIC Interest Rate
Crypto.com has one of the best interest rates for the Polygon MATIC token,
However, you must fulfill some of the criteria to receive a reasonable rate, and if you are not prepared to do so, you better check Binance, or YouHodlder, which will give you around 11-12% with no or fewer requirements.
The Crypto.com interest rate is dependent on
- How many CROs have you staked (Or the fiat value of your staked CRO)
- Your lock-up period (Flexible, one month or three months)
Crypto.com is offering the best Crypto debit VISA card cashback and rewards.
Crypto.com SignUp Bonus
When you signup with Crypto.com via our referral link and stake CRO for a Ruby metal VISA card ($400) you will get $25 in a welcome bonus. The ruby card will give you 2% cashback on all purchases and 100% back on Spotify.
Binance Earn Polygon MATIC Interest Rate
Binance offers some of the best Polygon MATIC interest rates, 13.9%. Also, the only requirement is to lock up your funds for a short period, 60 days.
Also, you can lock up your funds for 30 days and still receive the best interest rate, 11.34%. Read more about Binance locked staking review and rewards.
With Binance’s flexible staking, you can earn 6% APY.
What is Polygon MATIC?
Previously known as the Matic Network, Polygon is an interoperability layer two scaling solution for building Ethereum-compatible blockchains.
The blockchain uses the Matic token for governance, staking, and gas fees via a proof of stake (PoS) consensus mechanism.
What is a layer two scaling solution?
The main goal of a layer two solution is to scale layer 1 (In this case Ethereum Mainnet) by handling transactions off the main chain. However, it should still take advantage of the robust decentralized model of the Mainnet.
If a Mainnet becomes too busy, transaction speed and cost suffer, making the user experience poor, and in the worst case, applications and users will leave the network.
Therefore, layer two scaling solutions have a vital role in the future of blockchains because it seems no layer one solution can process enough transactions yet.
Polygon Interest Account VS Staking
There are two different ways to earn Polygon MATIC passive income.
- Polygon MATIC interest account (Deposit to a 3rd party crypto lending/borrowing/staking company)
- Polygon MATIC staking rewards (Stake on the proof-of-stake chain)
In this article, we have focused on the first alternative, where we have compared different 3rd party services offering different interest rates for MATIC deposits.
Crypto Investment Strategy 2023 – HODL
Many people ask about the best crypto investment strategy for 2023. But, of course, this is highly dependent on personal criteria and preferences.
However, the HODL strategy is always an alternative for everyone since it is the most passive form of investment. Also, it tends to create the least taxable events, calculations, and accounting.
In addition, it is probably the least volatile way to invest in a cryptocurrency.
Read more about the best crypto investment strategy for 2023.
Why look for the best Polygon MATIC interest rate?
It´s essential to look after the best Polygon MATIC interest rate.
Over the long term, there will be an extreme interest on the interest or compounding effect.
In the image below, you can see a famous quote from Albert Einstein regarding compound interest.
Make sure to make your money work for you.
Are there any Risks with Polygon MATIC interest accounts?
Yes, as for any investment, there are risks associated with Polygon MATIC interest accounts.
Some of the risks are
- The company you deposit into can go bankrupt
- The company you deposit into can be hacked
- The cryptocurrency you own can lose in value (Also, some of the above companies have a lock-up period, and you might not be able to sell in time)
Read more about crypto risks in our article about crypto risk management.
Best place to buy Polygon MATIC
We have listed the three best altcoin exchanges to buy Polygon MATIC in the table below. Coinbase and Kraken are US-regulated and allow US residents to sign up and trade.
Binance is not regulated and doesn’t allow US traders to sign up.
If you sign up with Binance, you will get -20% off all fees ever charged by Binance.
Pay tax on Crypto Matic Interest Payouts
Yes, you have to pay tax on your crypto interest payouts. This applies to all cryptocurrencies, including MATIC interest payouts.
These are usually taxed as income from capital but can varies from country to country.
There are two very good crypto tax software that will automate your tax reporting procedure for you. These are Cointracking and Koinly.
No Financial Advice, Information only. Do your own research