Where can you pay with polygon?
Cryptocurrencies are becoming so widespread and acknowledged that you can use them like you would regular payment methods on different platforms and websites. This is also the case with polygon.
But polygon wasn’t actually developed as a payment method. In fact, polygon was developed as a token - as opposed to bitcoin and ethereum which are coins.
The difference between coins and tokens
Cryptocurrencies such as bitcoin and ethereum are coins. They’re coins, because bitcoin is connected to bitcoin’s blockchain, and ethereum is connected to ethereum’s blockchain.
Polygon is a token, because it’s connected to ethereum’s blockchain. Polygon doesn’t have its own blockchain to build on, but instead it uses an existing blockchain - here, ethereum’s. That’s the primary difference between coins and tokens.
On top of that, polygon is unique because it wasn’t developed to be a payment method, like bitcoin was. Instead, it was developed to “activate” certain features in a blockchain - such as smart contracts.
Imagine a good old-fashioned laundromat, where you need to buy tokens to use the machines. Here, you’re exchanging your Danish kroner to laundromat-tokens, and the only feature the tokens have is activating washing machines and dryers in the laundromat.
That’s kind of how polygon tokens work. Instead of a laundromat, it’s a blockchain. Instead of laundromat tokens it’s polygon tokens. And instead of activating washing machines and dryers, it’s activating features such as smart contracts and NFTs.
But it’s also possible to exchange the laundromat tokens back to regular money - and the same goes for polygon tokens. For instance, you can exchange your polygons and all other cryptocurrencies to your account to regular money directly from your app with Lunar Block.
Sign up to Lunar Block
Easily withdraw your polygon tokens to your Lunar bank account with Lunar Block
Lunar Block is probably Denmark’s easiest platform for buying and selling polygon and other popular cryptocurrencies. You can trade crypto directly from the app at a set, low price. When you have polygon tokens that you’d like to exchange to regular DKK, you can do it directly in the app. You’ll then get the money deposited to your Lunar bank account, whereafter you can use them to pay in a store, for example. You’re never more than a few swipes away from exchanging your crypto assets to DKK.
Cryptocurrencies can rise and fall
When you trade cryptocurrencies, you need to be aware that it carries a large risk. The value of your cryptocurrency can both rise and fall, and you can risk losing the entire amount you’ve invested in cryptocurrencies.
Cryptocurrency trading is done through Lunar Block. Lunar Block is not regulated by the Danish Financial Supervisory Authority (Finanstilsynet). That means you won’t have the same protection as when trading e.g. stocks or other regulated assets.
We do not counsel
We do not advise on currencies and do not make recommendations for either buying or selling. We can provide factual information about the different currencies, but past price developments are not an indication of future developments.
Last updated April 18, 2023. We’ve collected general information. Please note, that there may be specific circumstances that you and your business need to be aware of.
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