How to Convert Fiat to Crypto on Polygon with Dharma (and Skip the Bridge Fees!)

If you’ve ever bridged funds from the Ethereum network to the polygon network, you know that gas fees can be astronomically high. Recently I cancelled a bridge transaction that would have cost me $87 USD!

A search for lower gas fees led me to several exchanges that now include direct fiat on-ramps to the Polygon network. A fiat on-ramp is the ability to purchase crypto directly with fiat, typically with the intention of sending those funds somewhere else. This kind of service has been around for a long time with Ethereum but is slowly starting to catch on with Polygon.

With Polygon fiat on ramps, you can avoid the insane Ethereum gas fees and go directly to Polygon with your hard-earned cash.

In this guide, we will focus on the centralized exchange called Dharma.

If you’re not interested in Dharma, check out Binance, Kucoin, Gate.io, Crypto.com or OKEX for other Polygon fiat on ramps.

This article will be a step-by-step tutorial. But before we get into the specifics, let’s first cover a quick three-step overview on how this process works.

1. We’ll buy crypto on the Polygon network directly with fiat on Dharma.

Note that Dharma does require a know-your-customer (KYC) process before you can buy crypto.

2. Wait six days for the funds to settle.

3. Transfer your purchased tokens to a wallet where you can interact with various DeFi applications such as KogeFarm.

You can use any wallet you’d like but the most popular wallet with the best community support is the MetaMask wallet. Learn how to set up a MetaMask wallet here.

Let’s now get down to brass tacks and see how to cheaply buy tokens on the Polygon network without those sky-high Ethereum gas fees!

1. On your mobile device, download the Dharma wallet app. Dharma is available on iOS and Android. Below is what you’ll see the first time you open the app.
2. Select the network switch drop down in the upper left corner and select Polygon.
3. Click Buy Crypto.
4. Next, tap Add Bank Account then tap Level 2 to start the KYC process.
5. Complete all verification steps until you get to the last step to select your method of identification.

Source: https://medium.com/kogecoin/how-to-convert-fiat-to-crypto-on-polygon-with-dharma-and-skip-the-bridge-fees-f6367297d27e?source=rss——cryptocurrency-5