POL is an updated and modernized version of the native token in the Polygon ecosystem, which was previously known as MATIC. The Polygon blockchain platform is designed specifically to solve the scalability problem of the Ethereum network. Its main features are fast transaction processing and reduced on-network fees. Now the Polygon protocol is an important element of numerous dApps, GameFi, DeFi and NFT.
The POL token is actively used to pay transaction fees, as well as for staking, which allows users to earn passively by participating in the security and operation of the blockchain. Due to the fact that Polygon developers are developing strategic partnerships with such large corporations as Meta, Mastercard, and Nike, the token can be considered not only as an asset for everyday transactions, but also as a long-term investment. The growing popularity of the project can contribute to an increase in the value of the coin.
Nigerian company Gamic utilizes Polygon technology to create blockchain-based solutions in its Web3 social platform, providing users with low fees and high transaction speeds. Using blockchain, Gamic provides integration with cryptocurrencies, tokens and NFTs, offering token exchange features, live streaming with cryptocurrency tips, and tools for game guild management and analytics. The Polygon network is helping Gamic build an efficient and sustainable ecosystem for African users, helping to accelerate the adoption of blockchain technology on the continent.
To manage POL tokens, you need a cryptocurrency wallet that will allow you to safely store assets and effectively interact with the Polygon network. This is an indispensable tool for conducting transactions, staking, and working with dApps. It is extremely important to choose a solution that will guarantee reliable protection of private keys and have a user-friendly interface. We will tell you how to choose the best crypto wallet and recommend the best options available to users.
Types of wallets for Polygon (POL)
Crypto enthusiasts use different types of crypto wallets, which differ in their approach to asset management. The most popular solutions are considered to be:
- Software wallets are applications that the user installs on their gadget (there are desktop ones for a computer and mobile ones for a smartphone or tablet). This type of storage is most often chosen for quick everyday transactions;
- Hardware wallets are physical devices that provide a high level of security because the keys are stored offline. A connection to a PC, smartphone, or tablet is required to conduct transactions, but the keys always remain protected from external threats. These crypto wallets are great for storing large amounts of cryptocurrency;
- Web wallets are browser-based solutions that can be presented as an extension or an online service. They are suitable for people who need quick access to assets from different devices.
Paper wallets can also be singled out separately – these are physical media (a sheet of paper, a metal plate) on which public and private keys are applied. They provide the highest level of security, since they never connect to the Internet, but they are not at all convenient for everyday use, and the owner is fully responsible for their safety. Losing such a wallet means losing your digital assets. This is an optimal, but responsible solution for storing large savings.
Custodial and Non-Custodial Wallets for Polygon (POL)
To choose the right option for storage and transactions, you need to understand the difference between the two main types of wallets – custodial and non-custodial. They differ in the principle of managing the user’s private keys.
Custodial wallets
A third party is responsible for private keys. This is usually a cryptocurrency exchange or other platform. The user trusts the storage of data to an external service and does not manage it directly. Custodial wallets are convenient because the owner of the assets does not need to ensure the security of private keys on their own. Even if the password is forgotten, access can be restored. However, if the service is hacked or blocked, the assets may be lost.
Non-custodial wallets
In this case, users manage their private keys themselves. Non-custodial wallets provide full control over assets, which eliminates dependence on third parties, but all responsibility for security lies with the owner: if access to the keys is lost, it will be difficult to restore funds.
Top 5 Crypto Wallets for Polygon (POL)
Especially for you, we have compiled a selection of the most reliable solutions for storing POL tokens, which are popular among crypto enthusiasts around the world. Here are mobile, hardware and browser wallets, which will allow you to choose the best option for any task.
Cropty Wallet
Cropty Wallet is the most convenient and practical wallet with support for hundreds of tokens, which allows you to manage crypto assets on different devices thanks to the presence of a mobile application, a web version and an extension for the Chrome browser, synchronized with each other. All transactions between users occur instantly and free of charge without additional fees. In addition to storing and managing POL, there is the possibility of passive earnings on the referral program, crypto loans and deposits, as well as organizing the collection of crypto donations. Thanks to the unique security architecture, the wallet combines the advantages of custodial and non-custodial storage.
MetaMask
MetaMask is one of the most popular crypto wallets for managing ERC-20 tokens. It works as an extension for Chrome, Opera, Firefox, Brave, and Edge browsers, and is also available as a mobile app. To add POL tokens, go to the network settings, click the “Add network” button, and set the Polygon blockchain parameters. The wallet offers internal coin exchange via the MetaMask Swaps aggregator, which automatically selects the best rate and low fees from different DEXs. Web3 integration has also been implemented to work with numerous dApps.
Ledger
Ledger is one of the most popular hardware wallet manufacturers on the market, supporting over 5,500 coins and tokens. The security of such devices is based on the Secure Element ST33 chip, which is also used in bank cards and biometric passports. Users’ private keys are reliably protected from external access and physical hacking. Cryptocurrency management and interaction with dApps and DeFi is carried out through the proprietary Ledger Live application: to use POL tokens, you need to connect a software wallet that supports the Polygon blockchain, such as MetaMask. The device is connected to confirm transactions via Bluetooth or USB Type-C.
Trust Wallet
Trust Wallet is a mobile crypto wallet that supports over 10 million digital assets. Users have access to flexible and advanced security settings, including multiple levels of protection, a recovery password, and an app lock feature. Coins can be sent via QR code, making transactions faster and easier. The built-in Web3 browser allows you to connect to popular decentralized exchanges for quick and easy exchange or purchase of cryptocurrencies. Users’ personal data is completely confidential: the application does not track IP addresses, balances, or other private information.
Trezor
Trezor is the world’s first hardware wallet, which appeared on the market back in 2014. More than 1,000 cryptocurrencies can be managed through the Trezor Suite application. To store and use Polygon tokens, you need to connect an external software wallet to the device, such as MyEtherWallet or MetaMask. Trezor wallets are protected from physical attacks thanks to built-in mechanisms that prevent the theft of private keys and other data. Confirmation of transactions is carried out on the device screen: the user sees all the details (address, amount, commission) and manually confirms it by pressing a button or entering a PIN code.
