invezz.com
Binance has added Polygon’s native token (MATIC/USD) for its Auto-Invest plans, the exchange wrote on its website. Binance users can choose from 10 popular cryptocurrencies and invest on autopilot with dollar-cost averaging strategy.
Creating an Auto-Invest plan
You create an Auto-Invest plan in six simple steps:
- Tap the Auto-Invest icon in the Binance App or click a link on the site
- Choose the cryptocurrency you want to buy
- Choose how much you want to buy in each recurrence
- Choose your preferred stablecoin
- Select the recurring cycle for the Auto-Invest Plan.
- Go to Earn Wallet.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
You redeem your purchased crypto in this last step. The Binance Coin (BNB/USD) vault contains BNB. The Flexible Savings contains the other cryptocurrencies.
Check the ROI in advance
To check the potential returns on investment, users choose the timeframe of an asset. This is done before subscribing. They can click on the chart icon as well. This shows the asset’s historical performance.
As you go through the above steps, you will see a pop-up window. Here, you enter the stablecoin of your choice and the subscription amount. Binance supports USDT and BUSD. The cycle options are daily, weekly, twice a week, or monthly. At the moment, you can only use USDT to buy MATIC.
Enable Flexible Savings account
If you enable this option and don’t have sufficient balance in your spot wallet, the system will automatically redeem the assets from your Flexible Savings account to carry out the transaction.
About Auto-Invest
Auto-Invest allows Binance users to simultaneously automate crypto investment and earn passive income. Presently, Auto-Invest supports the purchase of Bitcoin (BTC/USD), Ethereum (ETH/USD), and BNB. More cryptocurrencies will be added in the future.
What is MATIC?
MATIC is the native token of Polygon, a Layer 2 scaling solution. The project focuses on reducing the complexity of scalability and instant blockchain transactions.
Polygon uses a customized version of the Plasma framework which is built on proof-of-stake checkpoints that run through the Ethereum main-chain. This unique technology allows each sidechain on Polygon to achieve up to 65,536 transactions per block.
Number of MATIC tokens in circulation
MATIC tokens are released on a monthly basis. MATIC currently has a circulating supply of just under 4.9 billion tokens. Supply is capped at 10 billion tokens.