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How to Convert BTC to MATIC Without Disclosing Your Identity?

As a crypto enthusiast wishing to make your first steps into DeFi, trading BTC to MATIC is the right move. Polygon is a Layer2 solution for Ethereum-based apps. It allows you to access this ecosystem at much lower costs. 

So, if you are looking to pay less when using DEXs and NFT marketplaces, MATIC is a great crypto for your portfolio. For BTC owners, the logical solution to exchange their coins for MATIC is to use a centralized exchange. 

However, by using these platforms, you might have to disclose too much of your private data. We take a look at some solutions that will allow you to circumvent invasive identification processes. What’s more, you will still be able to exchange BTC to MATIC effectively and securely. 

BTC to MATIC Exchange Pair: What You Should Know

Bitcoin is the original digital asset that revolutionized finances and created the cryptocurrency industry. It’s the most valued crypto asset on the market and dominates it with more than 40% of the total valuation. With its limited 21 million coins, it benefits from increased scarcity that has inevitably pushed its price to the upside over the years. 

Polygon (MATIC) was created to alleviate the burden on the Ethereum network. It acts as a sidechain solution for executing EVM-compatible smart contracts of the main blockchain. This has allowed the onboarding of millions of users onto the DeFi ecosystem at lower costs and higher speeds. 

While both coins have experienced a strong downturn due to the current bear market, they retain a lot of upside potential. 

Bitcoin remains the preferred crypto for institutional investors due to its longevity in the market. This, in turn, provides Bitcoin holders with less volatility and better stability in case of market crashes. 

MATIC, on the other hand, is the most used Layer 2 solution for Ethereum, with 3 million transactions per day. In terms of user adoption, Polygon is spearheading the market and provides enthusiasts with a scalable solution to using blockchain technology at its fullest potential. 

Key to Privacy: Decentralized Exchanges

Decentralized exchanges remain the most common and effective solution when exchanging cryptocurrencies online. These platforms do not require any type of registration, as they uniquely rely on the user’s decentralized wallets to execute transactions, 

What’s more, decentralized exchanges aren’t governed by a single entity that has control of your funds. Instead, they fully utilize blockchain technology and smart contracts to provide genuine peer-to-peer transactions, without any intermediary. 

However, these advantages also come with a huge caveat. Executing cross-chain transactions is almost impossible, as decentralized exchanges usually operate within a single blockchain. In this case, when you wish to swap BTC to MATIC, a decentralized exchange will usually not suffice. This is because these cryptocurrencies reside on different blockchains that cannot communicate with each other or exchange assets. 

So, how should you proceed if you want to do a cross-chain swap and still retain anonymity? There’s an in-between solution that will allow you to do this — an anonymous exchange like Godex. 

This platform acts as a crypto broker, where you send your BTC and the exchange sends you MATIC tokens directly to your wallet. Because these services do not provide fiat currency options, they can avoid identification procedures that centralized platforms usually must require from their users. 

Swap BTC for MATIC Anonymously with Godex

The process of using the Godex exchange has been streamlined. Both beginners and crypto veterans can use the platform without issue. The exchange provides a simple user interface that allows you to select from 300 different cryptocurrencies and swap them seamlessly. 

Additionally, you won’t have to register an account to proceed with your transaction. The platform solely relies on your MATIC address to send you your tokens, allowing you to retain your privacy. Here’s how it works: 

  1. Browse to the Godex website and select your coins. Pick BTC from the left drop-down menu and MATIC from the right one. 
  2. Then provide the amount of BTC you wish to exchange for MATIC. 
  3. Paste your EVM-compatible MATIC address in the required field. 
  4. Send the Bitcoin to the exchange to complete the transaction. 

As you can see, there’s no need for registration or providing any personal data. Coins are also directly sent to your wallet, removing the need for withdrawal fees. 

In Conclusion

Retaining anonymity in the crypto ecosystem is essential to add a layer of security to your funds. Using decentralized exchanges works well for tokens residing on the same network. Issues arise once you require a cross-chain transfer. An anonymous exchange like Godex can be the perfect solution for a cost-effective, private crypto transaction.