Nexo allows you to earn interest on a variety of cryptocurrencies.
One of them is MATIC, and you may be wondering how you can send this cryptocurrency to Nexo.
Here’s what you need to know.
Can I send MATIC to Nexo?
You are able to send MATIC to Nexo via the Polygon network. Nexo does not accept MATIC deposits via the ERC20 or BEP20 networks, so you may lose the MATIC that you’ve sent through this method.
How to send MATIC to Nexo
Here are 6 steps to send MATIC to Nexo:
- Select a platform that enables MATIC withdrawals via the Polygon network
- Go to ‘Top Up’ on Nexo
- Select MATIC as the asset to deposit
- Copy the MATIC deposit address
- Withdraw from the platform of your choice using the Polygon network
- Receive MATIC on Nexo
And here is each step explained in-depth:
Select a platform that enables MATIC withdrawals via the ERC20 network
Since you are only able to send MATIC via the Polygon network, you will need to buy MATIC on an exchange that supports such withdrawals.
Here are 5 exchanges for your consideration:
In terms of Polygon withdrawals of MATIC, it seems that FTX has the lowest fees when you want to make a withdrawal.
Go to ‘Top Up’ on Nexo
After buying MATIC on one of these exchanges, the next step will be to obtain the deposit address on Nexo.
You’ll need to go to the Nexo platform, and select the ‘+‘ icon in the middle.
Afterwards, select ‘Top Up‘.
Select MATIC as the asset to deposit
This will bring you to the deposit page where you can top up different cryptocurrencies.
You will need to search for MATIC to deposit it on the platform.
Copy the MATIC deposit address
After selecting MATIC, this will show you the deposit address that you’ll need to copy to the platform where you’ve bought your MATIC on.
This is a Polygon network address, and you should only use a platform that supports such withdrawals.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
Withdraw from the platform of your choice using the Polygon network
The next step you’ll need to do would be to withdraw MATIC from the platform that you’ve chosen to Nexo using the Polygon network.
There may be some platforms like Binance which allow you to withdraw MATIC using the Binance Smart Chain (BEP20) or ERC20 networks.
This is the same for other platforms like FTX, which allow both MATIC and ERC20 withdrawals.
It is important that you withdraw MATIC using the Polygon network, and not other networks like ERC20 or BEP20. Nexo does not support other networks for MATIC, and you may lose the MATIC that you sent over!
Receive MATIC on Nexo
After confirming the withdrawal on the platform of your choice, you will receive MATIC on Nexo.
You are able to start earning interest on your funds, or even take a crypto-backed loan as well!
If you choose to earn your interest in NEXO, you may receive a higher interest rate which increases your returns. You can find out more about selling NEXO tokens back to USD if you wish to cash out your crypto.
How To Make Money With Cryptocurren...How To Make Money With CryptocurrencyConclusion
When you are sending MATIC to Nexo, it is important that you only do so via the Polygon network.
If you choose to send MATIC via the ERC20 network or the Binance Smart Chain (BEP20), there may be a chance that your MATIC may be lost forever!
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Nexo Referral (Earn USD$25 in BTC)
If you are interested in signing up for a Nexo account, you can use my referral link. You will receive USD$25 in BTC after holding $100 or more in assets for the next 30 days.
Here’s what you need to do:
- Sign up for a Nexo account
- Complete the Advanced Verification on Nexo
- Transfer ≥ $100 worth of assets into Nexo
- Hold these assets for at least 30 days
You will receive your BTC reward in the next 30 days!
FTX Referral (5% trading fee discount)
If you are interested in signing up for an FTX account, you can use my referral link.
You will receive a 5% trading fee discount for any trades that you make.
Crypto.com Referral (Get up to $25 USD worth of CRO)
If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.
We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto.com account
- Enter my referral code: ‘x2kfzusxq6‘
- Stake enough CRO to unlock a Ruby Steel card or higher
The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.
You can read more about the referral program on Crypto.com’s website.
Binance Referral (Receive 5% off your trading fees)
If you are interested in signing up for a Binance account, you can use my referral link.
You will be able to receive 5% off all of your trading fees on Binance!
AAX Referral (Receive up to $50 USDT worth of rewards)
If you are interested in signing up for an AAX account, you can use my referral link.
Here’s what you need to do to receive this reward:
- Sign up for an AAX account
- Complete level 1 KYC on the platform
- Generate 10,000 USDT in trading volume on the spot or futures markets + deposit 500 USDT via P2P, Quick Buy and Sell, cash deposit or crypto deposit
Once you have completed the criteria above, you will be able to receive 50 USDT in rewards.