When depositing USDc into your DolarApp account, you have the option to select between two different blockchain networks: Polygon and Ethereum. Each network has unique characteristics, fees, and benefits. Here’s what you need to know to make the right choice for your deposit.
Polygon
Polygon is a Layer 2 scaling solution for Ethereum, designed to offer faster transactions and lower fees. By utilizing a network of sidechains, Polygon can achieve significantly lower costs while maintaining high performance and security.
Transaction speed: ⚡️ Immediate
Transaction cost: Free (No fees for deposits through DolarApp)
Use case: Ideal for users looking for quick and cost-efficient transactions.
Ethereum
Ethereum is one of the most popular and secure blockchain networks, but it comes with higher transaction fees due to network congestion. Ethereum is known for its robustness, security, and broad use in decentralized finance (DeFi) applications.
Transaction Speed: ⚡️ Immediate
Transaction cost: $3 USDc per deposit.
Use Case: Suitable for users who prioritize security and compatibility with a larger ecosystem of decentralized applications.
Which one should you Choose?
Choose Polygon if you want fast and fee-free transactions for your USDC deposit.
Choose Ethereum if you prefer higher security and compatibility with Ethereum-based DeFi applications despite the higher cost.
Still Not Sure?
If you’re still unsure which network is best for you, feel free to contact our support team using the chat in-app or via email help@dolarapp.com
FAQs
Q: Why is there no fee for Polygon transactions?
A: DolarApp absorbs the cost of transactions on the Polygon network to provide you with a fee-free experience for deposits.
Q: Is Ethereum more secure than Polygon?
A: Both Ethereum and Polygon offer strong security. However, Ethereum is a more established network, making it a preferred choice for those who prioritize the highest level of security.