I want to transfer some of my MATIC to Fantom in order to lend. I currently have it on an exchange. Which of the two options do you think is the best method to transfer?
1. Sell MATIC into stablecoin, then buy FTM. Transfer FTM to my wallet on the Fantom Chain. Swap FTM for MATIC on spookyswap
2. Withdraw MATIC to my wallet on the Polygon network. Bridge MATIC to FTM on spookyswap
I’m more familiar Option 1 so I’m sure I can do it with no hiccups. Option 2 is new to me as I’ve never bridged assets before. Theoretically, it’s simpler as it has fewer steps, but I’m unfamiliar with whether the bridging process is reliable or not. Maybe someone can share their experiences?
Also, maybe there is another option that I have not thought of that is even easier than the ones I’ve mentioned so feel free to share.
P.S. disregard any tax implications for Option 1 as crypto tax laws in my country are currently non-existent.
2 thoughts on “Getting MATIC on Fantom Network”
If your Exchange lets you withdraw to Fantom Network, do it.
If you want to bridge, its most likely that you cant bridge $Matic to Fantom Network. You have to use a bluechip or Stable Coin.
And you need gas fees for fantom (elk finance lets you bridge a small amount into gas fees)
As always, try it with a small amount first.
Edit: reliable Bridges for Fantom that i used are: Spooky, anyswap, elk finance, xpollinate..
Oh i just read again, you want to lend your Matic on Fantom? Which protocol on fantom offers you lending $matic?
Why not deposit it on Polygon directly?