hallo, i am newbee, please do not mind my question. I sent my matic token from coinbase to my ledger, they went through eth network, and the i sent second batch using polygon network, now my question is are both the tokens same ? which is the better way to keep the tokens in eth or polygon ? please help
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Hey bud,
As I’m sure you know, Ethereum got popular and thus busy and expensive. So, Polygon was built on top of Ethereum as a layer 2 solution to help it scale. It leverages the security of Ethereum so our validator nodes are on the Ethereum network. Thus ERC20 MATIC is the staking token.
We have a great MATIC staking tutorial on our blog if you’re interested.
The only reason I see to own ERC20 MATIC is to stake it. You’re certainly welcome to stake with us at Blocks United.
If you came to Polygon for speed and to save money on transaction fees, then you’ll want native Polygon MATIC. That’s the MATIC on the Polygon network. 1 native MATIC token is good for around 100 transactions, so you don’t need many.
Now that I think about it we have a Ledger staking tutorial too.
In your Ledger Live dashboard under your “Accounts” tab you should see MATIC tokens in two places.
-The Polygon MATIC is the address that will hold all other tokens on the Polygon network. That’s the address where you’ll trade and use DeFi dApps on the Polygon network, like Sushiswap, etc.
-The ERC20 MATIC is just your Ledger ETH receiving address. That’s the MATIC you’d stake.
I hope that helps!
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