Deposits & Withdrawals on Polymarket

Need help getting started with deposits and withdrawals? You’ve come to the right place

We are beyond excited to see so many Ethereum-based applications take off over the past year. Whether it’s crypto art, NFTs, or decentralized finance (DeFi) apps, we are proud to be part of a broader movement that is making blockchain-based applications more accessible to the public

However, increased network usage means higher Ethereum gas costs than ever before. As a result, depositing and withdrawing funds on Polymarket require higher transaction fees as well

Note: Polymarket does not take fees. These fees are paid to facilitate transactions on the Ethereum blockchain

In this guide, we will walk through the easiest and cheapest ways to (1) deposit and (2) withdraw funds to and from your Polymarket account

Table of Contents

2. Withdrawing Funds

Depositing Funds

  1. MetaMask Deposit (Easiest)
  2. Peer-to-Peer (Cheapest)
  3. Manual Deposit (Currently expensive)
  4. Debit or Credit Card (for non-US residents)

The easiest self-serve option for a new user is MetaMask Deposit. The option with the lowest fees is Peer-to-Peer, but this will require coordinating with a community member

Note: Keep in mind that withdrawing funds will also incur transaction fees

MetaMask Deposit (Easiest)

  • MetaMask wallet: Stores USDC and ETH
  • USDC: Funds you will be depositing into your Polymarket wallet
  • ETH: Used to pay transaction fees to transfer USDC to your Polymarket wallet

Steps for MetaMask Deposit (Easiest Option for New Users)

  1. Install MetaMask on a supported browser (MetaMask FAQs)
  2. Send USDC to your MetaMask wallet from an exchange like Coinbase (Your wallet address can be found at the top of your MetaMask screen)
  3. Purchase ETH for the two transaction fees below via MetaMask by using your debit card with Wyre (Click “Buy” and “Continue to Wyre”)
  4. The ETH is used to pay for (a) the first-time user authorization fee and (b) the transaction fee to move your USDC into your Polymarket account [An estimate of the ETH required to transfer your USDC is shown when selecting MetaMask Deposit]
  5. Once you have USDC and enough ETH in your MetaMask account, go to the Deposit page and select “MetaMask Deposit”
  6. When prompted, connect your MetaMask wallet with Polymarket
  7. Enter how much USDC you would like to deposit and click “Approve Deposit”
  8. First, confirm and pay (a) the first-time user authorization fee. The amount of ETH required will be displayed by MetaMask
  9. Once the transaction is processed, press “Deposit” again and confirm to pay (b) the transaction fee to move your USDC into your Polymarket account. The amount of ETH required will be displayed by MetaMask
  10. Your funds are on their way! They should arrive within 10 minutes

Peer-to-Peer Deposit (Cheapest)

  • Community member who has USDC on Matic (the sidechain where Polymarket funds are held and transactions are facilitated)
  • Agreement with community member on the transaction fee
  • Your Polymarket wallet address

Note: You will have to agree on the specific terms with the community member on who sends whom funds first. Refer to the community to determine who is trustworthy to transact with

Steps for P2P Deposit (Cheapest Option for All Users)

  1. Check out our Discord and use the #peer-to-peer channel to coordinate with another Polymarket user who has USDC on Matic
  2. Agree upon the transaction fee for the community member sending you USDC on Matic
  3. On the Deposit page, select Peer-to-Peer deposit to find your Polymarket wallet address
  4. Send the community member your Polymarket wallet address, so they can send USDC on Matic
  5. Funds should be in your wallet instantly!

Manual Deposit (Currently expensive)

Steps for Manual Deposit (Expensive)

  1. Select Manual Deposit and copy your Polymarket wallet address
  2. Send USDC from an exchange like Coinbase. (Wait 2–3 minutes for the funds to arrive)
  3. Once the USDC arrives, click the link for pending deposits under your current balance
  4. Click “Take me there” in the “Initiate Your Deposit” screen
  5. Copy your ETH wallet address and send the estimated ETH required to facilitate the USDC transfer
  6. Click “Initiate Deposit” once you have enough ETH
  7. Your funds are on their way! They should arrive within 10 minutes

Debit or Credit Card (for non-US residents)

Steps for Debit or Credit Card Deposit (Non-US Only)

  1. Select the Debit or Credit Card deposit option
  2. Enter how much USDC you want to purchase
  3. Fill out your payment information
  4. Click “Buy Now”

Withdrawing Funds

  1. Manual Withdrawal (Easiest)
  2. Peer-to-Peer (Cheapest)

The easiest self-serve option for a new user is Manual Withdrawal. The option with the lowest fees is Peer-to-Peer, but this will require coordinating with a community member.

Manual Withdrawal (Easiest)

  • USDC: Funds in your Polymarket wallet
  • USDC-compatible wallet address (e.g., Coinbase): Where your funds are going
  • ETH: Used to pay transaction fees to transfer USDC from your Polymarket wallet
  • Time: 6 hours to withdraw

Steps for Manual Withdrawal (Easiest Option for New Users)

  1. Enter how much USDC you want to withdraw and then start the withdrawal process (It will take ~6 hours for your withdrawal to be ready)
  2. When your withdrawal is ready, click the “Claim funds here” link
  3. Copy your ETH wallet address and send the estimated ETH required to facilitate the USDC transfer
  4. Click “Refresh” to update the ETH balance
  5. Copy the USDC-compatible wallet address (e.g., your Coinbase wallet) where you want your funds to be sent, paste it in the box, and click “Send”
  6. Your funds are on their way! They should arrive within 5 minutes

Peer-to-Peer Withdrawal (Cheapest)

  • Community member who wants to receive USDC on Matic (the sidechain where Polymarket funds are held and transactions are facilitated)
  • Agreement with community member on the transaction fee

Note: You will have to agree on the specific terms with the community member on who sends whom funds first. Refer to the community to determine who is trustworthy to transact with

Steps for P2P Withdrawal (Cheapest Option for All Users)

  1. Check out our Discord and use the #peer-to-peer channel to coordinate with another Polymarket user who wants USDC on Matic
  2. Agree upon the transaction fee for the community member sending you an equivalent value of your USDC on Matic
  3. On the Withdraw page, paste the community member’s Matic wallet address (Do NOT enter a non-Matic wallet address as these funds will be lost!)
  4. Enter how much USDC you want to send to this community member and send
  5. Funds should be in their wallet instantly
  6. Confirm that you have also received your funds

Still need help? Ask our community on our Discord server.

Otherwise, use Intercom on our website or e-mail hello@polymarket.com

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