The Polygon protocol is a Layer-2 solution that uses Ethereum as a backbone for its operations. By taking transaction processing off-chain, Polygon enhances Ethereum’s scalability, which results in quicker transactions and lower fees. Consequently, transferring coins with the help of Polygon is far less expensive and more efficient than on Ethereum. Such qualities of Polygon have earned it popularity among organizations and individuals who depend on donations as the primary source of their funding or income. This is why Polygon-compatible assets such as the network’s native token MATIC and the stablecoin USDC are a perfect fit for anyone wanting to experiment with crypto donations. You can make accepting MATIC and USDC donations a hassle-free and instant experience with NOWPayments’ donation tools.
- Polygon is a highly-scalable Layer-2 solution designed to act as Ethereum on steroids.
- USDC and MATIC are two Polygon assets that are ideal for using as donation options.
- Use NOWPayments’ free-to-deploy tools for accepting USDC and MATIC.
What Is Polygon Network and Which Crypto I Can Accept?
Ethereum is known for having numerous scalability issues, which result in high increases in on-chain fees and delays in transaction processing. Any substantial spike in usage causes Ethereum to gasp for air, leaving thousands of users unable to efficiently transfer their assets. The problem persists even after Ethereum’s recent transition to the Proof-of-Stake protocol. Thankfully, there are solutions that let users benefit from the infrastructure of Ethereum, while drastically reducing the cost of transactions and significantly increasing their speed. Polygon is, perhaps, the most notable example of such solutions.
Polygon makes use of a system of mechanics that facilitate on-chain transactions. Specifically, Polygon uses a so-called commit chain, which runs in parallel to Ethereum but is connected to it. The chain verifies groups of transactions at once instead of processing one transaction at a time. Once Polygon takes care of these transactions, it sends their data to the Ethereum blockchain. Thus, Polygon simply updates Ethereum on all the transactions that take place on its network. As a result, Polygon has interoperability with Ethereum, making it simple for users to transfer assets from Polygon to Ethereum and vice versa without limitations.
MATIC is the native token of the Polygon project. The moniker of the coin stems from the first name of the Polygon blockchain. MATIC is an ERC-20 token with a max supply of 10,000,000,000 coins. MATIC is used as fuel in the Polygon ecosystem. For instance, users have to spend MATIC when conducting transactions on the chain. Thanks to Polygon’s efficiency, 0.001 MATIC will be enough to last you 100 transactions on the Polygon network. Users also have the ability to stake their MATIC and contribute to the security of the blockchain, receiving rewards in return. MATIC is a popular payment option among crypto-friendly businesses that want to retain easy access to Ethereum without suffering from all of its problems.
USDC is another Ethereum-based cryptocurrency that can be used painlessly on Polygon. USDC is a stablecoin, whose value is pegged to the U.S. dollar. This means that the price of 1 USDC is always maintained within the vicinity of $1. Many people and businesses find USDC extremely convenient, which is not surprising considering that it packs the advantages of crypto and fiat under the same hood. The thing that sets USDC apart from the competition is the fact that Circle, the company behind USDC, is fully transparent in its operations. Circle ensures that USDC stays a fully-reserved currency which is 100% backed by actual U.S. dollars. Users can be completely sure about USDC’s safety when transferring or holding it.
Why You Should Try Donations Using Polygon Network
Using Polygon for the purpose of donation processing can prove lucrative for organizations and individuals due to the low fees of the network. On average, your donors will not pay more than $0.020 for a USDC and MATIC coin transaction.
This fee is negligible when compared to the average fees paid to banks for the same service. Subsequently, this more cost-effective approach lets you keep more money, as the size of the donation will not be reduced because of various fee costs. NOWPayments also does not charge you much for transaction processing. In fact, you will only need to pay a 0.5% fee per transaction when using our tools.
Streamlined global donations
The Polygon network can be incredibly useful for charities aiming to be noticed on a global scale. Polygon removes any geographical limitations, letting you reach a much wider audience and gain support from donors from all over the world.
This also gives a chance to donate to you to those who may not have been able to do so before due to their place of residence. NOWPayments also does not impose any restrictions in terms of your or your donors’ location. Therefore, you can deploy and receive USDC and MATIC donations from anywhere on the planet and make the most of your fundraising efforts.
Private and KYC-free
Polygon is an anonymous platform, allowing you to access MATIC and USDC without having to go through identity verification procedures. You will not need to pass any checks in order to enjoy the benefits of these tokens.
Not only that, but it also offers full anonymity to your donors, as they can make donations without having to reveal any personal information. This is excellent for users who value their privacy, as it ensures that their donations remain confidential. In its turn, NOWPayments also sticks to the idea of maintaining customer privacy and, therefore, will not ask you to go through KYC or any similar kind of checks.
Convenient and free to deploy
Donations in USDC and MATIC are easy to set up, especially when using NOWPayments. With NOWPayments, there is no need to pay any setup fees when you decide to accept donations on Polygon.
All you need to do is to install a crypto wallet, generate your crypto address, register on NOWPayments’ website, and deploy a donation tool of your choice. This can be done in a short period of time. This shows how much more convenient accepting donations in USDC and MATIC is compared to the mainstream donation methods. You will not need to stand in line at a local bank to open an account, as everything is done online and in mere minutes.
Safe, secure, and non-custodial
Polygon has reliable mechanisms in place designed to protect its infrastructure from malicious attacks. This ensures that users can have complete confidence that their funds are always safe and secure. In addition, just like any cryptocurrency, MATIC and USDC allow their holders to gain full control over their money by keeping it in a non-custodial wallet.
This provides a layer of security that is not available with custodial wallets, as the user retains complete ownership of the funds at all times. NOWPayments also operates based on the non-custodial approach. Therefore, we conduct instant payouts to the user’s address and do not keep our clients’ crypto in our wallets.
Multiple donation options
USDC and MATIC are far from the only donation options available at NOWPayments. In fact, you can accept more than 150 different cryptocurrencies, including all of them at the same time. With the help of NOWPayments, you can always get the widest possible reach for your donations.
There are no boundaries when it comes to how much and how often you can accept donations. You are free to use it however you like. The integrated dashboard will help you to manage all of your donations in one place, making it easy for you to keep track of your donation activity.
How to Accept Donations on Polygon Network?
NOWPayments is a Polygon donation gateway that makes it simple for both you and your donors to conduct MATIC and USDC donations. To get started, you can select from three great tools:
- If you have a website, you may opt for a crypto donations button.
- Alternatively, you can place a USDC or MATIC donation widget on your website or blog.
- There is also an option of a link that is compatible with all social media and lets you receive crypto donations.
With NOWPayments, cryptocurrency donations are a breeze!
Here is an instruction on how to implement a donation button:
- Create a NOWPayments account on the official website of the service.
- Pick the USDC or MATIC crypto from the drop-down list of currencies and enter the wallet address to which you would like to receive your donations.
- On the left sidebar, press “Payment Tools” and then “Donations.”
- Scroll down the page to the “Donation button segment,” choose the color of your button, copy the piece of code to the clipboard, and paste it to your website or blog.
- Congratulations, now you will be able to receive MATIC or USDC donations with the button.
MATIC and USDC can empower charities and individuals to accept low-cost donations via the Polygon network. NOWPayments makes sure that you can get donations in the easiest and most inexpensive way possible, providing you with three simple tools for accepting USDC and MATIC.