POLY
Reputation Ratings

POLY

Polymath 5-10 years
Website https://www.polymath.network/
Browser
OTH RELPs
White Paper
Avg Price
+0.43%
1D

$ 0.2324 USD

$ 0.2324 USD

Market Cap

$ 76.49 million USD

$ 76.49m USD

24h trading volume

$ 11,681 USD

$ 11,681 USD

7d Vol

$ 50,646 USD

$ 50,646 USD

Circulating supply

924.998 million POLY

Related information

Issue Time

2018-02-03

Platform pertained to

--

Current price

$0.2324USD

Market Cap

$76.49mUSD

Volume of Transaction

24h

$11,681USD

Circulating supply

924.998mPOLY

Volume of Transaction

7d

$50,646USD

Change

24h

+0.43%

Number of Markets

92

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Current Rate0

Available

0.00USD

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Historical Price

Introduction

Markets

3H

+6.31%

1D

+0.43%

1W

+4.16%

1M

+12.27%

1Y

-17.51%

All

-5.88%

Aspect Information
Short Name POLY
Full Name POLY Token
Founded Year 2018
Main Founders Chris Housser, Trevor Koverko
Support Exchanges Binance, Huobi Global, OKEx, Poloniex, KuCoin, HitBTC, CoinBene, LATOKEN, BitMart, Probit
Storage Wallet MetaMask, Ledger
Customer Support Tel: +1 416-915-3185
Contact Form: https://info.polymath.network/contact-us-polymath
Github, Blog, Twitter, Facebook, Telegram, YouTube, Reddit, Linkedin

Overview of POLY

Poly, also known as the POLY Token, is a utility token on the Ethereum blockchain (ERC-20 standard). It was founded in 2018 by Chris Housser and Trevor Koverko. As an essential part of the Polymath platform, the POLY token serves as the underlying economic unit that enables participants to interact and transact within the system. The token can be stored in a variety of digital wallets, including popular choices like MetaMask and Ledger. Moreover, POLY is supported by a wide range of exchanges, such as Binance, Huobi Global, OKEx, Poloniex, and KuCoin, which allows it to reach a broad audience of investors and users.

To obtain more information, you can visit their website: https://polymath.network/ and try to log in or register to use more services.

Overview of POLY

Pros and Cons

Pros Cons
Supported by Multiple Major Exchanges Market Volatility
Part of the Polymath Ecosystem Dependent on the Success of the Polymath Platform
Stored in Popular Digital Wallets Digital Assets Risk
Founded by Experienced Tech Entrepreneurs Regulatory Uncertainties

Pros:

1. Supported by Multiple Major Exchanges: The POLY token is tradable on many prominent digital currency exchanges, including Binance, Huobi Global, and OKEx, which heightens its accessibility to cryptocurrency enthusiasts worldwide.

2. Part of the Polymath Ecosystem: The POLY token plays a vital role in enabling transactions within the Polymath platform, an ecosystem that facilitates the creation, issuance, and management of digital securities.

3. Storage in Popular Digital Wallets: POLY can be safely stored in well-known and widely-used digital wallets like MetaMask and Ledger, providing convenience and security for its users.

4. Founded by Experienced Tech Entrepreneurs: With founders like Chris Housser and Trevor Koverko, who have established track records in the tech industry, the POLY token boasts a solid foundation.

Cons:

1. Market Volatility: Like all cryptocurrencies, the value of POLY can experience rapid and drastic fluctuations based on market conditions, which poses a risk for investors.

2. Dependent on the Success of the Polymath Platform: The value and usability of the POLY token are closely tied to the success and adoption of the Polymath platform. If the platform fails to achieve its goals, the token may lose its utility.

3. Digital Assets Risk: As a digital token, POLY is susceptible to the inherent risks associated with digital assets, like potential losses resulting from hacking, technical glitches, or the loss of access keys.

4. Regulatory Uncertainties: Cryptocurrency regulations are still evolving worldwide, and changes in these regulations will impact the usability, acceptance, and value of the POLY token.

What Makes POLY Unique?

POLY is developed as an integral part of the Polymath platform which separates itself from other cryptocurrencies by focusing on the world of digital securities. Polymath's goal is to create an ecosystem that simplifies the complex technical and legal challenges of creating a security token. POLY tokens are used within this platform to pay fees and interact with the system.

This differentiates POLY from other cryptocurrencies, which are often designed solely as digital currencies for online transactions, or utility tokens designed to provide access to a specific service or platform. POLY, on the other hand, is utilized more as a tool in a broader system rather than a currency or utility token on its own.

what makes POLY unique?

How Does POLY Work?

POLY is a utility token that powers the Polymath platform, a security token issuance and management platform. The POLY token is used to pay for fees associated with the issuance and management of security tokens on the Polymath platform, such as KYC/AML verification, legal and regulatory compliance, and token distribution.

POLY token holders also have governance rights over the Polymath platform. They can vote on proposals to improve the platform and its features.

how does POLY work

Market & Price

The total supply of POLY is 1 billion tokens, of which 500 million were issued in a public token sale in 2018. In January 2024, Polymath distributed 10 million POLY tokens to eligible participants who interacted with their platform or held specific tokens. The total circulating supply of POLY is approximately 925 million tokens.

The price of POLY has fluctuated significantly since its launch in 2018. It reached an all-time high of over $1.3919 in early 2018, but fell to below $0.15 in late 2018. Since then, its price has fluctuated several times. As of February 17, 2024, the price of POLY is $0.1901.

Exchanges to Buy POLY

While purchasing POLY, buyers have various exchanges at their disposal. Each exchange offers diverse currency or token pair options.

1. Binance: This is a widely used international cryptocurrency exchange. The currency pairs include POLY/BTC and POLY/ETH. See this link for details on how to buy POLY: https://www.binance.com/en/how-to-buy/polymath-network.

Binance

Step 1: Download a Trust Wallet Wallet

There are several crypto wallets to choose from within the Ethereum network and Trust Wallet appears to be the most integrated. If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or the iOS App Store if its available.

Step 2: Set up your Trust Wallet

Register and set up the crypto wallet via the wallet‘s Google Chrome extension or via the mobile app you downloaded in Step 1. You may refer to the wallet’s support page for reference. Make sure to keep your seed phrase safe, and take note of your wallet address. You will be using it later on Steps 4 and 6.

Step 3: Buy ETH as Your Base Currency

Once your wallet is setup, you can login to your Binance account and proceed to the Binance Crypto webpage to buy the ETH.

Step 4: Send ETH From Binance to Your Crypto Wallet

Once you buy your ETH, go to your Binance wallet section and look for the ETH you purchased. Click on withdraw and fill up the required information. Set the network to Ethereum, provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your ETH to appear in your Trust Wallet.

Step 5: Choose a Decentralized Exchange (DEX)

There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange. For example, if you use Trust Wallet wallet, you can go to 1inch to make the transaction.

Step 6: Connect Your Wallet

Connect your Trust Wallet wallet to the DEX you want to use by using your wallet address from Step 2.

Step 7: Trade Your ETH With the Coin You Want to Get

Select your ETH as the payment and select the Polymath as the coin you want to acquire.

Step 8: If Polymath Doesnt Appear, Find its Smart Contract

If the coin you want does not appear on the DEX, you can refer to https://etherscan.io and find the smart contract address. You can then copy and paste it into 1inch.

Step 9: Apply the Swap

Once you are done with the previous steps, you can click on the Swap button. From deciding where to buy Polymath to making the purchase, your crypto transaction is now complete!

2. KuCoin: This exchange supports numerous cryptocurrencies. For POLY, it offers the POLY/BTC and POLY/ETH pairs. See this link for details on how to buy POLY: https://www.kucoin.com/how-to-buy/polymath.

Kucoin

Step 1: Create an account

Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.

Step 2: Verify your identity

A secure and reputed exchange will often ask you to complete KYC verification. Information required for KYC will vary based on your nationality and region. Users who pass KYC verification will have access to more features and services on the platform.

Step3: Add a payment method

Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method.

Step 4: Buy POLY

You are now ready to buy POLY. You can easily buy POLY using fiat currency if doing so is supported. You could also do a crypto-to-crypto exchange by first purchasing a popular cryptocurrency such as USDT, and then exchanging it for your desired POLY.

3. OKEx: Operating in over 100 countries, its trade pair is primarily POLY/USDT.

4. Poloniex: Known for its advanced trading features, Poloniex offers the POLY/BTC pair primarily.

5. Huobi Global: This exchange platform encompasses users from over 130 countries. Currency pairs include POLY/USDT, POLY/BTC, and POLY/ETH.

6. HitBTC: As a global trading platform, HitBTC provides three pairs for POLY which are POLY/BTC, POLY/ETH, and POLY/USDT.

7. CoinBene: This exchange offers the pair POLY/USDT.

8. LATOKEN: Catering to a global audience, LATOKEN offers POLY in the POLY/USDT pair.

9. BitMart: Offering spot trading, futures trading, over-the-counter trading, whole-network trading, and decentralized trading, BitMart pairs POLY with USDT.

10. Probit: This global coin-to-coin cryptocurrency exchange offers trading pairs of POLY/USDT and POLY/KRW(Korean Won).

How to Store POLY?

The storage of POLY tokens, like any other cryptocurrency, requires a digital wallet. The choice of wallet usually depends on the individual's requirements regarding security, accessibility, and convenience.

1. MetaMask: This is a software wallet that allows users to interact with the Ethereum blockchain, and therefore can be used to store ERC-20 tokens like POLY. It operates as a browser extension and provides convenience for regular transactions.

2. Ledger: A hardware wallet, providing high-level security for storing digital assets. Ledger devices like the Ledger Nano S and Ledger Nano X support the storage of ERC-20 tokens, including POLY.

In addition to the above, MyEtherWallet and Trust Wallet also support the storage of ERC-20 tokens. Each type of wallet presents a balance between security and accessibility. While hardware wallets such as Ledger provide the highest level of security, they are less convenient for regular transactions compared to software wallets such as MetaMask.

wallets

Is It Safe?

POLY ueses some promising technological approach for safety.

Standardization: ERC 1400 and Polymesh aim to increase security and reduce friction by establishing clear standards for security tokens. This creates a safer environment for issuers and investors.

Targeted blockchain: Polymesh is built specifically for security tokens, addressing potential limitations of general-purpose blockchains in this context.

Is It Safe?

How to Earn POLY?

1. Purchase POLY: This is the most straightforward way to acquire POLY. You can buy it on various cryptocurrency exchanges like Coinbase, Binance, Huobi, etc.

2. Participate in potential future airdrops: Polymath has conducted airdrops in the past to incentivize participation and awareness. While there are no confirmed upcoming airdrops, keep an eye on official Polymath channels and announcements for any future possibilities.

3. Contribute to the Polymath Network: If you have technical expertise and experience, you can explore contributing to the Polymath Network development through code contributions or audits.

Conclusion

POLY distinguishes itself from other cryptocurrencies, focusing on digital securities rather than solely being a digital currency or a utility token. POLY operates within the Polymath ecosystem, enabling the creation, issuance, and management of digital securities, and it's used as the base currency for related transactions.

As for its development prospects, they are closely tied to the success of the Polymath platform. Given the nature of cryptocurrencies, fluctuations in the value of POLY based on market conditions are to be expected. We advised you to research carefully and take into account their risk profile before buying POLY tokens.

FAQs

Q: What's the key difference between POLY and other cryptocurrencies?

A: POLY differentiates itself by focusing on the world of digital securities within the Polymath platform, rather than being merely a digital currency or a utility token.

Q: How can I buy POLY?

A: POLY can be purchased on various cryptocurrency exchanges such as Binance, Huobi Global, and OKEx. You can buy POLY using other cryptocurrencies like Bitcoin or Ethereum.

Q: Where can I store POLY?

A: POLY can be stored in digital wallets that support the ERC-20 standard, such as MetaMask and Ledger.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

More

2 ratings

Participate in evaluation
Dory724
Scalability solutions for Ethereum. Monitor execution and adoption for sustained growth potential.
2023-11-30 16:43
9
Jenny8248
This is a project that is looking to power the issuance of digital securities. They are also looking to do so in a way that is completely within global regulatory frameworks - providing issuers with an entire suite compliant tools.
2023-12-07 22:58
3