Polygon 101 Guide: How To Save ETH Gas Fees in DeFi!! ⛽️

[@CoinBureau]

Any other dApps you guys like using on Polygon? Keen to hear your thoughts. Don't forget to follow me on my other social channels for content you are not getting here 👉 guy.coinbureau.com/socials/

[@ALPHAXOMEGA333]

Thank you for your insight on Polygon. Keep up the good work. I would love to hear more about Polygon I'm sure I'm not the only one.

[@gomleksiz]

People should check polycat finance. 230 million usd tvl. Still very low market cap.

[@goku2940]

Dfyn

[@keenghost]

Paraswap to find the best trades (like 1Inch), APY.Vision to track your liquidity pools on QuickSwap, Sushiswap etc if you choose to get some.

[@antsinmyeyesjohnson5076]

I mainly farm MOON with WOLF to get awesome NFTs for free and sometimes farm polyzap

[@mkzh3304]

This Defi use case illustrates the n degree of complexity when comparing with conventional banking. It is hard to imagine how regular folks would use this at the current stage. Even for a wallet, users need so many steps to jump. It is not a reflection of the video. In fact, I think you are doing an exceptional job in explaining this. I just feel that the current technology is too complex to have wider adaptation.

[@greysaint6640]

I feel the same.. how I wish the community will push this to be more user friendly and more secure on the same time. Mass adoption is really important

[@SyukriLajin]

that's the reason BSC took off instead of any eth based L2. trust wallet made it as simple they could have been earlier on. binance exchange helps provide a simple way to enter instead of needing to jump through hoops.

[@BeefLoverMan]

@@greysaint6640 There are some BSC to Polygon bridges where you can transfer stablecoins. Xpollinte and Evodefi come to mind. I've used both, but I've heard some people's funds got lost, so use at your own peril. The Ascendex centralized exchange allows withdrawal to Polygon, that's probably the safest option. I went Binance - Ascendex - Polygon. I do hope binance enables direct withdrawal to Polygon soon, that'll be a game changer...

[@yitfoonglee8434]

@@SyukriLajin yes totally agree, i was trying to figure out the metamask + aave (polygon) yield farming for over a week and didnt manage to figure out! Guys video is on point and extremely clear so now i know. But yes the cost are crazy and all the hoops to jump through and perchant for mistakes....i m not sure the risks and costs are worth it.

[@Zonglv288]

You're right to some extent but getting matic on metamask is actually not as hard as this video puts out. For example major exchanges like AcendeEX and OKEX offers direct deposit and withdrawl to matic network and this bypasses a huge part of all actions required. It's actually really easy, but I guess Coin Bureau wants to go the complete decentroalised way, or they most likely didin't know about this route. But they should indicate both options if they knew about it as it is way less confusing for most users to transfer directly from their exchange wallet to metamask.

[@Jane_under_a_tree_with_a_book]

Wallets are a total nightmare. Someone should invent a wallet that has a friendly GUI with straightforward choices that does all the work automatically. It would make all other wallets obsolete.

[@kayjay2094]

I recommend looking into Celer Network.

[@tobiaskoller7861]

@@kayjay2094 mvp 8 hours ago @Kay Jay stop copy and pasting x100 🤣

[@jeremytheonlyone]

User Friendly meaning easier for people to hack or hi-jack. When things are easier especially handling monetary value, people get neglected and became careless. And they are easy meat for prey of hacking.

[@Jane_under_a_tree_with_a_book]

@@jeremytheonlyone I mean 'user-friendly' in the way that an 'ordinary' person can use it without fear or confusion. Buying and moving crypto should be for everyone, not just those people who are coders or such. The vast majority of people would be unable to figure out wallets and to say otherwise is elitist.

[@BD-tp6pr]

​@@Jane_under_a_tree_with_a_book Crypto is stil in an early stage and for these people it might just be not mature enough. I usually recommend them to use trustworthy and simple to use exchanges with clear instructions and just hodle for at least 4 or 5 years.

[@jazm391]

MATIC is one of my biggest holdings since 75 cents $$$$ Big project for the future of crypto and ETH

[@johnfrederick6152]

You're the best of the best, Guy! Miles ahead of the pack!

[@cryptobull738]

You can say that again

[@melindaj.kaffer1882]

He's very knowledgeable ....I totally agree, he's one of the best!

[@mayonaze2g]

Wow Guy this is right on time! I bought a little Matic and I have a Polygon tab open right now trying to figure this out!

[@shafiqnaim5346]

same here. about to farm and swap few tokens. literally

[@wrndlabs]

It works well, good experience so far 👍

[@shafiqnaim5346]

@Andrew Not interested sorry. I wish it will do even 20x for you somehow.

[@flkcgn]

watching this getting into NFTs five months later makes me a bit sad. Gas fees are so high atm that even a transfer from ETH to polygon costs way too much

[@bobgodwinx]

Thanks for taking your precious time for the video. But layer 2 solution like MATIC is a NO go.. It took me 4 days to withdraw my funds and during this waiting time I lost all the price actions and couldn't sell.. This No good for defi. I will better stick with BSC instead of Layer 2 on ethereum

[@emilioleroux]

Great video as always! Just two tips: 1) If Coinbase wallet or Clover or any wallet extensions conflict with Metamak, it's possible just to DISABLE these extensions temporarily instead of uninstalling. (In any case store your seed phrase safe!) 2) There are cheaper options to transfer tokens to Matic: BSC and xDAI bridges, for example.

[@vorbis4860]

Polygon was one of my very first buys when I started a month ago, knowing nothing. Boy, did I ever pick a winner.

[@joshhomola6324]

Imagine getting started into crypto in 2021...

[@vorbis4860]

@@joshhomola6324 Steep learning curve.

[@twelveahalf1093]

Hold polygon and buy more because these people working on this are very smart and this token will be worth the investment

[@kayjay2094]

I recommend looking into Celer Network. Does the same as Polygon except for any main chain and across layers. Not to mention has way more room to grow.

[@888cromartie]

You're not talking about price, b/c it hasn't really moved in that time

[@BeeNewin]

People keep saying why need Polygon once ETH 2.0 comes around. If ETH 2.0 is end all be all then why need cardano or solana? Polygon right now has and is building its own ecosystem. The fact that it’s interoperability is in full effect, I believe this thing will continue to scale with ETH for the long run.

[@typeincomedy]

I am surprised to see that you didn't mention some of the bridges you can use with zero fees or 0.5% fee to transfer, for instance $usdc from chains like bsc or fantom. Also, I might have missed it in the video, but in case you didn't mention it: there are faucet pages giving you 0.001 $matic as gas seed so you can get started right away on Polygon

[@BeeNewin]

The biggest problem with Polygon right now is transferring assets from Eth to Matic Network. It takes about 1 day to get used to the process. However its naturally that Polygon will team up with a big exchange and you can transfer Eth assets directly to the Matic Network. All of this is a work in process. UX will improve over time.

[@mrcrypto.1064]

Just wanna say thanks. Im am almost completely converted to crypto. And your helping me with my road map.

[@matteblack222]

Brethren, you’re the best! Diving deep into crypto right now your links and information are making all the difference. You’re the go-to guy!!!

[@lylefredette6096]

If you're coming from BSC you can go through AscendEX (BitMax). Buy USDT on Binance -> send to AscendEX via Tron Blockchain -> convert that to Matic on AscendEX -> send to Metamask configured to Matic network. All for about 3 USDT.

[@nocomment4848]

Yeah I’ve been farming on Polywhale on the matic mainnet for about a month now. Some interesting upgrades are planned for the liquidity pool that should see the price pump after this accumulation phase

[@aeridyne]

Ah, I didn't realize Optimism was still rolling out despite Eth 2.0 being delayed. Very good to know, didn't realize that...

[@p_Splint]

Have about 50% of my MATIC on Celsius, 20% staking on Matic network n the rest on Aave via Poly network while borrowing some usdt n lending on Curve🔥

[@TheSpacemanSpliff]

If you’re thinking this process is difficult, it really isn’t. Once you have the wallet set up, it’s really just a matter of going to the Matic wallet and transferring your funds. Only takes a few minutes, and once you’re on the Matic Mainnet, you likely won’t want to leave it!

[@oceejekwam6829]

This is invaluable, thank you. I was stuck on a problem related to this for several days, watching this helped me to find an answer, thanks again.

[@rogerfench2976]

This is bad information in this video.

[@Mufasa535]

Congrats, Guy! Well deserved. 👏🏻

[@evol_1399]

Recently took Polygon profits after hearing Guy's warnings and listening to Vitalik's interview. Polygon can remain relevant, but they will need to work on becoming more than sidechains. IMO

[@jayferx]

Thanks for the info Guy!

[@iphoneapps1175]

Good timing. Poly is taking a hit during today’s crash. Hope this helps bring it back up!

[@cryptofreak3108]

MATIC, LUNA are the game changers!!

[@BKLevi]

Complicated too. I'm using Binance smart change to mint NFT's and staying away from ETH blockchain till they fix the insane gas issue.

[@Frogger900]

This seems almost infinitely complex/complicated, but I guess I may have to learn how to do this eventually. I see this as a HUGE barrier to entry for cryptos and until methods like this are resolved/avoided, the general public will shy away. That being said, thank you SOOOOOOOO much for your time and work in making this tutorial! You're my go-to for learning all things crypto!

[@ThePixelPizza]

Quick tip: buy your tokens on binance, send them to BSC chain wallet en bridge them using BSC -> polygon bridge (e.g. EvoDefi, which also sends some MATIC for gas). This is much cheaper than using ethereum

[@twmade]

i love ETH to death but how do the community expect to onboard new users with this convoluted way of just to get on the network? getting people to try crypto is hard enough, but this onboarding process is just ridiculous amounts of work + fees just to even begin USING the damn thing

[@AnikRoyiamrooy]

Polygon going to be top 7 in few month

[@ALPHAXOMEGA333]

it's already top 5 on coinbase

[@perpetualprosperity2963]

This thing is mind blowing. If Ethereum doesn't do anything about it's problems this thing is developing to replace it asap.

[@AnikRoyiamrooy]

@@perpetualprosperity2963 exactly that's in my mind

[@ganesh55999]

🇮🇳🇮🇳🇮🇳

[@STARFIGHT88]

Eth 2.0 is only gonna solve 64 percent of the scale issue.....BUT....the demand is 900 percent....hence polygon pumping

[@STARFIGHT88]

@The one cause it is....buy poly...😆

[@josipmaric6297]

Kardiachain people. Cross-chain trading with cex experience is almost out. Supporting coins All top chain coins will be able to trade natively.Just take minute to check it out. I think it will be number 1 place for cross-chain trading since none of current dexes don't have limit orders and it is not cross-chain. Guys we are going in top 20 with this.

[@dimethyltryptamine8233]

Bought matic when you covered it and it was. 11 cents.

[@craks594]

Same here! Too sad i felt i had made enough profit and sold at about 14 cents🤣

[@a.dinillah5562]

Lol i did it too 😂😂 still so bullish even theres correction..

[@dimethyltryptamine8233]

@@craks594 bro i sold at 45 cents lol but got back in at 1.20 so still here

[@dimethyltryptamine8233]

@@a.dinillah5562 yeah im still very bullish on it.

[@296Rajdeep]

When u bought it at 11 cent?

[@DragonXDrei]

Moved MATIC had to pay £20 in gas fees:( probably bad time of day to do so, I think you get lower fees depending on time of the day. Overly complicated. Might as well just stake it on Binance or Celsius. Made a transfer of 2000 on 11th Jun at 14:30, fee was 20 MATIC which was more than £20...

[@jakaciman2620]

Thanks Guy for the video.Take care.

[@XanaxXombie]

As always a great video about a crypto gem, keep up the good work!

[@glitzyjitzy2341]

It is great that you can trade cheaply within the matic platfor, but the conversion fees from and to ETH still kill it for me. Eth needs the 2.0 rollout fast.

[@lzacharywai]

Hello Guy. Thank you for doing amazing videos and I have learned a lot from your videos. Recently AMP which was listed on coinbase and many people are wondering if you could talk about AMP and how it could affect the usage from El Salvador’s bitcoin legalization. Thank you and wish you all the best!

[@melindaj.kaffer1882]

I have polygon and love it!

[@giles1358]

why? I don't understand why you'd go through all this hassle, when bsc is much cheaper and easier?

[@melindaj.kaffer1882]

@@giles1358....first, I'll keep this sweet, bc believe me, I can be a bad @$$, if necessary....TO EACH THEIR OWN!!! Now, please have a great weekend!

[@princea1988]

​@@giles1358 BSC is 50 times more expensive than Matic transactions on matic network are only $0.001. BSC is centralized in my opinion.

[@mikehill7805]

@@melindaj.kaffer1882 love it !!!

[@garyborthwick284]

@@princea1988 But if you still have to transfer back over to Ethereum to cash out like Guy said in the video, and pay hefty ETH fees, is it really cheaper? 🤔 It sounds like a big expense to even get your tokens on the Matic network to begin with.

[@MrxOnurb]

Bought matic when price was 0.025$

[@MaxPicAxe]

Nice

[@guineapigtalks]

Fuck youuuu lol I got it at 69 cents 😅

[@willmartin6052]

Just got in.. 1.70$

[@justarandomcatwithmoustache]

@@willmartin6052 oh boi , you gotta wait for a 2-3 months lol ( assuming you averaged down a lil'bit)

[@abusiness7450]

Got in at 7.5 cents

[@YoungTeeke]

Hey coin Bureau talk about who has private keys for the gateways on polygon. Pulse chain fork will be airdropping ANYONE with a wallet off of the exchanges a copy of there erc-20s on pulsechain when that comes out and gas fees will be cheaper then matic with zero bridge because they will just be copied at zero value and airdropped. Pulse will be dilluted 10,000:1 with ethereum and it will be a proof of stake system so basically eth 2.0. Cheers

[@wrndlabs]

Iron Finance on Polygon is heading to the moon of Mars. Their TITAN (Titanium) token is on fire, 10x in the last 2 weeks and still going much higher.

[@luciannoshow]

Can you make a video about Anchor Protocol?

[@sophielinda9430]

Thank you for this video and your hard work ! Very helpful

[@aaronhunter6049]

Paid so much in fees, may as well have just gone to an exchange brought twice as much matic.

[@JonasUrvakis]

Dfyn is a Polygon gem aiming to create cross chain transactions!

[@gopalvora789]

I went through. Looks promising.

[@codebreak1882]

not many people have realised Polygon has done it!! its a matter of time to see polygon in top 5

[@johnbinstead8544]

So you still pay High ETH Gas to move to your Ethereum Wallet, then you pay ETH Gas again to convert via the Polygon Bridge then you pay again but Poly gas to swap tokens !!! If I just use Uniswap I pay the high Gas fees to do the swap. Where exactly do i save money here if i just want to do one or more swaps?

[@ramiro6322]

Poly gas is pretty much zero, and you can keep your gains in USDC in the Polygon Layer. The other two things you said are a problem though, I wonder if you can move funds towards the Poly network without having passed through the Eth network

[@modernpirate]

I like MATIC and there is definite potential for above average yields, but when you factor in the macro environment and fees, Anchor Protocol on Terra appears to give better returns with less risk.

[@racerx4evr]

A great video, as always. I am assuming that for small investors that most of the interest gains one had earned on DeFi platforms such as Polygon’s Aave that these gains would be completely destroyed by the massive ETH fees which are still commanded by the Bridge?

[@escarface]

This hurdle is why so many don't understand or buy alternative coins. This was a lot of hurdles even though there is massive benefits to staking

[@przemekroman1656]

The withdrawal 7 day challenge period is a joke. It was quicker for me to withdraw the money using cheques and snail mail 15 years ago. Ridiculous.

[@wsdmrtst]

Whoa! Ok, I’ll have to watch that again, and again, and again once I’m ready to actually try it - but, once one learns all these acrobatics they’ll be ready to join a circus! My main question (and I’m sure the answer is hidden somewhere in one of your vids) is: how & when does one “repay” the loan? That’s the part I don’t get. Anyone with a positive/helpful response can reply… thanks!

[@jdsnowwit]

Still crap situation having to bridge coins at all. Need native CEX support.

[@bakri99]

Thank you for the video, very informative . Please check the 7:53 the picture is for aave not polygon 😎

[@paulcoffee77]

You just saved me thousands of $$$$$ , Big Thank you

[@melissamcright8579]

I never knew it could get easier,I went into trading just last year I say,I purchased my first house in the beginning of the year, I have realised I wasted a lot of time depending on just my salary

[@janiceverdul9706]

You're right investing to create a second source of income is good for those that invest right

[@michealfrai154]

Amazing,how profitable is your trading.?

[@melissamcright8579]

@@michealfrai154 I trade stocks,it wasn't easy going when i started but through the right personnel I was able to build and grow..I earn thousands weekly trading which is more than my salary in a month

[@danielfoster4093]

I'm glad is working for you congratulations

[@clintonpark3095]

@@melissamcright8579 Great and encouraging,I always know that income from non salary is always necessary, I know for sure

[@delianaamadasun8104]

Many many thanks for your effort to present the information.

[@Scirvir24]

Love your videos, Guy. You're literally my crypto guy lol

[@alexalexand6312]

I made the mistake to use polygon, it pretty much ate me a little more than 100$ on ethereum fees. I learned the hard way and I am sticking to normal payouts.

[@stablecoinlabs961]

Layer 2 is a band aid. There are other protocols that have already solved the speed & fee problem.

[@simonlesorcier]

Great video Guy... As always

[@carlostellez5274]

great info. best explanation yet

[@burnastro9599]

Ascendex exchange supports withdrawals of MATIC and USDC directly to Polygon network (fee for MATIC is 2 MATIC and 3 USDC for USDC withdrawal)

[@haloslipping3218]

thats too much crap to go through just for some matic. I'll just buy it on kucoin or voyager

[@JLR0D13]

Great videos Guy. Love your knowledge sharing. Thank you, which I'm sure you do not get enough thanks. You rock bro

[@alex08585]

Great Video!!, I laughed when he said "DEFI shenanigans"🤣

[@slideryt]

Is it just me or does this cat sound like Richard Hammond presenting on the TV Show Science of Stupid?

[@s.s.5453]

.19 cents here bubba! still holding buying the dips like a mad man!!!

[@Soul4Sail1]

You don't necessarily have to uninstall the coinbase wallet; You can simply disable the plugin temporarily to avoid the conflict, btw.

[@swaspc7618]

Another wallet nightmare! not really for mass adoption. I will give it a try. Thanks for your tutorial!

[@marcusgrandison4003]

Your absolutely a gem...you saved me with this video

[@roco2183]

Brilliant content, best on the net. Love the t-shirt.

[@hnhl2770]

So basically, there's no escaping ETH's ridiculous fees. Absolute trash.

[@d4mdcykey]

As always, an excellent tutorial, but I eagerly await the day when all of this convoluted, time-consuming-jumping-back-and-forth-or-you-might-lose-your-coins nonsense will be a thing of the past and we can just click a couple buttons and it's all done. The Wild West of DeFi early days can be exciting and an adrenaline rush but I'll be glad when these kinds of constant hoop jumping are a distant memory we tell our grandkids about.

[@anandsagarsah7115]

still looks complicated to me.. things should work seemlessly.. maybe i should wait for cardano defi...

[@LG-mw7ry]

@@kayjay2094 give up already

[@kayjay2094]

@@LG-mw7ry I'm not sure why it upsets you so much that I'm informing people of a project I believe strongly about. Just spreading the word is all.

[@intergalacticdegengypsy6135]

I love seeing the big yt crypto influencers talk about a project I've been balls deep in for a few months

[@ALPHAGENXCORP]

spendthebits - is going to be game changer for BTC transfers...

[@niklase5901]

I find this technology is still way to laborious to use, but it’s getting better ever so slowly. Great video.

[@sonnyjohnson8887]

Wanchain is doing its own thing in Asia .. not sure if they will ever achieve their 2017 goal of a cross chain platform

[@northerncaliking1772]

You don't have to pay back the ten usdc you borrowed? I'm confused. 😕

[@yitfoonglee8434]

hi Guy! great content! the most comprehensive and "understandable" walkthrough for yield farming on aave (polygon) on the net if you ask me !! awesome. given the costs and hassle of using this to yield farm, could you consider to do a BSC for noobs and BSC yield farming video please? many thanks.

[@casey.m]

Great video - super clear and easy to follow - THANKS :-)

[@jimbanda]

Binance has turned out to be a logistical nightmare between Trust Wallet and the platform, plus converting or withdrawing is a nonsensical route

[@bleggg]

Interesting. I've found it to be rediculously simple.... Send to trust, convert to bsc ($2.17 fee) open pancakeswap, buy cake ($0.50 fee) Stake cake directly($0.50) and earn 130% apy autocompounded . No eth fees, no need for 2 networks to on board and the again 2 networks to off. No lp token. Not sure how it could get simpler. Maybe that's just me

[@garyborthwick284]

Buy BUSD on Binance. Send to Trust Wallet using the BEP20 network. Search PancakeSwap from Trust Wallet browser. Buy whatever BEP20 token you want. How is that a logistical nightmare? It couldn't be simpler.

[@БетховенКряптанский]

LightningPup LPUP - New gem x1000 92% burn Aggressive Marketing 🔥💎🔥

[@minoX6]

Matic 🚀🚀🚀

[@TwinworldGameReviews]

Ascendex exchange allows matic, route, and usdc withdraw direct to matic network. Fast transfer rate and only couple bucks for fee.

[@bradbecker8982]

Just use Zilswap once their polynetwork bridge to Uniswap is complete before July. $1-$3 fees on Zilswap for trades.

[@pjdspereira]

Love Matic and Polycat DEX

[@fayainz]

Interested to see a video on using DFYN exchange for some DeFi farming on the Matic network

[@Justin-General]

This looks like a pain! Who would do this?

[@cryptokate8154]

It's easy. More for me. :p

[@rogerfench2976]

It looks like a pain because Guy is giving you completely incorrect directions in this video. He should take this video down. Or at least include a disclaimer that this is outdated incorrect information. Really discouraged at this channel at this point

[@ianthorpe1925]

Do you think Polygon will be adopted as a permanent rollup or is Eth2 going to come up with their own solution and eventually push Polygon out of the way?

[@SniperApocalypse]

Ethereum 2.0 will significantly improve scalability, but remember, Polygon is designed to complement Ethereum's design through creation of additional layers, sidechains and whatnot. So whatever improvements are made on Eth 2.0, will be further compounded by Polygon. If anything, Eth 2.0 should shoot Polygon to the moon. And for those who don't understand Polygon well and dump in preparation/shortly after Eth 2.0 releases, just keep on hodling and watch it return to original value and then increase thensome. Polygon is solid, it's the only alt-coin not in the Top 20 that I consider "relatively" safe. There's always room for errors and mistakes in things like this, but I'm optimistic about these fellas. Especially since the market cap at the time of writing this comment is only $1.4b. Many investors would place this at $4.2b to $8.4b by the end of this year. I wouldn't be surprised if this reaches up to $50b+ couple years down the line.

[@kayjay2094]

I recommend looking into Celer Network

[@LG-mw7ry]

@@kayjay2094 get off this platform go shill with Bitboy

[@lordhugo4253]

@@SniperApocalypse polygon has risks in terms of security because the data is off chain(layer 1) so it has its own consensus mechanism, and vitalik said" am not trying to discourage them, but they just made a chain like BSC)

[@nocomment4848]

Kay jay in every single comment as if his shilling carries any weight. “Oh a random anon recommends something I haven’t even heard of - shut up and take my money!” If you’re gonna shill, at least give a reason why

[@coaching9368]

Polygon has great utility!!

[@pokeohtcg]

My biggest holding besides VTI! 🙌🏻🙌🏻🙌🏻

[@mfer134]

Guy, video idea. . . Will there be a defi summer 2021?

[@dekinny6035]

Perfect timing Guy.

[@bleggg]

Lol

[@Outback_Crypto]

Love you Guy! You’re awesome 🤩

[@JahongirDanteThe]

Thank you so much!! Just today I was exploring how to link metamask with polygon wallet and the video comes out right on time because i had so many questions! You are the OG!!!

[@JahongirDanteThe]

@@kayjay2094 yeh I do have it as well in my portfolio

[@MikeDirnt78]

Thank you guy. My head is spinning looking at all these transfer complications. Thus I will just keep my coins on the exchange.

[@anupyadav1502]

Just go to dfyn exchange, connect your wallet and then click on switch to MATIC to get on matic mainnet. Easy👍

[@anupyadav1502]

@@coinbureau5784 get a life scammer boi