How to Deposit & Withdraw on Polymarket (Step-by-Step)

Depositing and withdrawing funds on Polymarket is straightforward once you understand the process. This comprehensive guide walks you through every step of funding your account with USDC, including crypto deposits, credit card purchases, bridging from Ethereum, and withdrawing your winnings. Whether you're depositing your first $50 or moving thousands of dollars, this guide covers everything you need to know.

Understanding Polymarket's Currency: USDC on Polygon

Before diving into deposits and withdrawals, it's crucial to understand that Polymarket operates exclusively with USDC (USD Coin) on the Polygon network. This design choice keeps transaction fees low and settlement times fast compared to Ethereum mainnet.

What is USDC?

USDC is a stablecoin pegged 1:1 to the US dollar, meaning 1 USDC always equals approximately $1 USD. Unlike volatile cryptocurrencies like Bitcoin or Ethereum, USDC maintains a stable value because it's backed by actual US dollar reserves held by Circle, the company that issues USDC.

This stability is essential for prediction markets. When you bet $100 on a market outcome, you want that $100 to still be worth $100 when the market resolves—regardless of what happens to Bitcoin or other crypto prices.

Why Polygon Network?

The Polygon network is a layer-2 scaling solution that processes transactions faster and cheaper than Ethereum mainnet. Here's how they compare:

This means you cannot directly deposit ETH, BTC, or other cryptocurrencies into Polymarket. You must first convert your assets to USDC on the Polygon network. For detailed step-by-step instructions, see our complete USDC deposit guide.

Deposit Methods Comparison

There are four main ways to fund your Polymarket account. Each method has different fees, speed, and complexity trade-offs:

Recommendation by User Type

Method 1: Direct USDC Deposit (Fastest Option)

Prerequisites for Direct Deposit

If you already own USDC on the Polygon network, depositing to Polymarket takes just minutes. You'll need:

• A crypto wallet containing USDC on Polygon (MetaMask, Coinbase Wallet, Rainbow, etc.)
• A small amount of MATIC tokens for gas fees (usually $0.01-0.05 per transaction)
• Your Polymarket account connected to your wallet

Supported Wallets

Polymarket supports any EVM-compatible wallet that can connect via WalletConnect or browser extension:

Step-by-Step Direct Deposit Process

1. Connect Your Wallet: Navigate to Polymarket.com and click "Connect Wallet" in the top right corner. Select your wallet provider from the list. Approve the connection request in your wallet.
2. Ensure Polygon Network: Your wallet should automatically switch to Polygon. If not, manually switch networks in your wallet settings.
3. Access the Deposit Interface: Click your profile icon or wallet balance, then select "Deposit" from the dropdown menu.
4. Enter Deposit Amount: Type the amount of USDC you want to deposit. You'll see your available balance and any minimum requirements.
5. Approve Token Access (First Time Only): If this is your first deposit, you'll need to approve Polymarket's contract to access your USDC. This is a one-time transaction.
6. Confirm Deposit Transaction: Your wallet will prompt you to confirm the deposit transaction. Review the gas fee (usually $0.01-0.05) and confirm.
7. Verify Deposit: Once confirmed, your USDC balance will update within 5-30 seconds. You can now start trading.

If you're new to the platform, check out our complete guide on how to use Polymarket to get started with your first trades.

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Method 2: Buying USDC with Credit/Debit Card via MoonPay

For users without existing cryptocurrency, Polymarket integrates with MoonPay to allow direct purchases using credit or debit cards. This is the easiest method for beginners—especially those new to how Polymarket works—though it comes with higher fees (3.5-4.5%) than direct crypto deposits.

MoonPay Fee Structure

MoonPay Purchase Process

1. Select Card Purchase Option: In the deposit modal, select "Buy with Card" or "MoonPay" option. This opens the MoonPay widget within Polymarket.
2. Enter Purchase Amount: Specify how much USDC you want to purchase. Minimum is typically $20-30. Maximum depends on your verification level.
3. Complete KYC Verification: First-time users must provide identity verification:
   • Government-issued photo ID (passport, driver's license)
   • Selfie for face matching
   • Basic personal information
4. Enter Payment Details: Input your credit or debit card information. MoonPay accepts Visa, Mastercard, and some regional cards.
5. Confirm Purchase: Review the total amount including fees and confirm your purchase.
6. Wait for Delivery: USDC will appear in your Polymarket wallet. First-time purchases take 10-60 minutes, subsequent purchases take 5-15 minutes.

MoonPay Tips and Limitations

• Daily limits: Start at $500-2,000/day for new accounts, increase with verification level
• Card rejections: Many banks flag crypto purchases—contact your bank to whitelist MoonPay
• Debit vs credit: Debit cards often have lower fees and higher success rates
• Apple Pay/Google Pay: Sometimes available with lower fees than direct card entry
• Geographic restrictions: Not available in all countries—check MoonPay's supported regions

KYC approval typically takes 2-10 minutes. Before funding your account, make sure you understand whether Polymarket is legal in your jurisdiction.

For cost comparison with other Polymarket expenses, see our detailed breakdown in the Polymarket fees guide.

Method 3: Bridging USDC from Ethereum to Polygon

If you hold USDC on Ethereum mainnet or other networks, you'll need to bridge it to Polygon before depositing to Polymarket. This involves moving your tokens from one blockchain to another.

Bridge Comparison

Using the Official Polygon Bridge

1. Access the Polygon Bridge: Visit wallet.polygon.technology and connect your wallet containing USDC on Ethereum.
2. Select Bridge Parameters: Choose "Ethereum" as source network and "Polygon PoS" as destination network. Select USDC as the token.
3. Enter Amount: Specify how much USDC to bridge. You'll see estimated gas costs for the Ethereum transaction.
4. Approve Token Access: If this is your first bridge, approve the bridge contract to access your USDC.
5. Initiate Bridge Transaction: Confirm the bridge transaction in your wallet. This requires ETH for gas.
6. Wait for Completion: The official bridge takes 7-8 minutes. You can track progress on the Polygon Bridge interface.
7. Verify Arrival: Check your wallet on Polygon network to confirm USDC has arrived.

Using Third-Party Bridges (Faster)

Third-party bridges like Hop, Synapse, and Across offer faster transfers with slightly higher fees. The process is similar:

1. Visit the bridge website (hop.exchange, synapseprotocol.com, across.to)
2. Connect your wallet
3. Select Ethereum → Polygon and USDC
4. Enter amount and review fees
5. Approve and confirm transaction
6. Wait 1-5 minutes for completion

Method 4: Transferring from Centralized Exchanges

Many traders prefer buying USDC on centralized exchanges and withdrawing directly to Polygon. This method often offers the best rates for converting fiat to crypto, especially for larger amounts.

Exchange Withdrawal Fees Comparison

From Coinbase (Recommended for US Users)

1. Log into your Coinbase account and navigate to your USDC wallet
2. Click "Send" and select "Polygon" as the network (important!)
3. Enter your Polygon wallet address (copy from MetaMask or Polymarket)
4. Enter the amount and review the transaction
5. Confirm withdrawal—usually arrives in 1-5 minutes

From Binance (International Users)

1. Go to Wallet → Fiat and Spot → Withdraw
2. Select USDC as the coin to withdraw
3. Choose "Polygon" or "MATIC" as the network
4. Enter your wallet address and amount
5. Complete 2FA verification
6. USDC arrives in 2-10 minutes

Getting MATIC for Gas Fees

Every transaction on Polygon requires MATIC tokens to pay for gas fees. Without MATIC, you won't be able to deposit USDC to Polymarket or make trades. Here's how to get MATIC:

Method 1: Buy MATIC on Exchange and Withdraw

The most reliable method. Buy MATIC on Coinbase, Binance, or other exchanges and withdraw to Polygon:

• Purchase $10-20 worth of MATIC (enough for hundreds of transactions)
• Withdraw to your Polygon wallet address
• Select "Polygon" or "MATIC" network
• MATIC arrives in 2-10 minutes

Method 2: Polygon Gas Station (Free MATIC)

If you have USDC but no MATIC, some services provide small amounts of free MATIC:

• Polymarket gasless: Some deposits may be subsidized—check if available
• Polygon faucets: Limited free MATIC for new wallets (often requires social verification)
• Swap services: Some DEXs offer gas-free swaps for first transaction

Method 3: Swap USDC for MATIC on DEX

If you have USDC but no MATIC, use a gasless swap service:

• 1inch offers meta-transactions (gasless swaps)
• Paraswap has gasless mode for small amounts
• Quickswap sometimes subsidizes first swap

How Much MATIC Do You Need?

For most users, $5-10 worth of MATIC is plenty for months of active trading.

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Withdrawing Funds from Polymarket

Withdrawing your winnings or unused funds from Polymarket is straightforward and typically completes within minutes.

Standard Withdrawal Process

1. Access Withdrawal Interface: Click your profile icon or wallet balance, then select "Withdraw" from the menu.
2. Check Available Balance: Your withdrawable balance excludes funds committed to open positions. You must close positions first to withdraw those funds.
3. Enter Withdrawal Amount: Type the amount of USDC to withdraw. You can withdraw any amount above the minimum.
4. Confirm Transaction: Review the gas fee (typically $0.01-0.05) and click "Withdraw" to confirm.
5. Verify Receipt: USDC appears in your connected wallet within 5-30 seconds.

Understanding Withdrawable vs. Committed Funds

Use our portfolio tracker to monitor your available balance and open positions.

Converting USDC Back to Fiat

After withdrawing USDC to your wallet, you have several options for converting back to traditional currency:

Option 1: Transfer to Centralized Exchange

The most common method for larger amounts:

1. Send USDC from your wallet to your exchange account (select Polygon network)
2. Sell USDC for USD on the exchange
3. Withdraw USD to your bank account (1-5 business days)

Option 2: Crypto Off-Ramp Services

Direct wallet-to-bank services (1-5% fees):

• MoonPay: Sell USDC directly to bank account or card
• Transak: Multiple payout methods including bank transfer
• Ramp: Fast European bank payouts
• Wyre: Direct ACH withdrawal for US users

Option 3: Keep as USDC

Many traders keep USDC for future opportunities:

• Ready for quick deposits when good markets appear
• Can earn yield on DeFi protocols (2-5% APY)
• Avoid repeated conversion fees
• Consider using copy trading strategies to grow your balance

Off-Ramp Fee Comparison

Remember to track all withdrawals for tax reporting purposes.

Withdrawal Timelines and Processing

Troubleshooting Common Issues

Deposit Not Appearing

If your deposit doesn't appear in Polymarket:

• Verify network: Confirm you sent USDC on Polygon, not Ethereum or another chain
• Check transaction: Look up your transaction hash on Polygonscan.com
• Wait a moment: Sometimes there's a brief delay—wait 2-3 minutes
• Refresh connection: Try disconnecting and reconnecting your wallet
• Clear cache: Clear browser cache and reload Polymarket

Insufficient MATIC for Gas Fees

If you can't complete transactions due to low MATIC:

• Buy MATIC: Purchase on an exchange and withdraw to Polygon
• Use a faucet: Search for "Polygon MATIC faucet" for small free amounts
• Gasless swap: Use 1inch or Paraswap's meta-transaction feature
• Ask a friend: Have someone send you 1-2 MATIC

MoonPay Card Declined

Many banks flag cryptocurrency purchases. Solutions:

• Contact bank: Call your bank to authorize MoonPay transactions
• Try debit card: Debit cards often have higher approval rates than credit
• Use different card: Some banks completely block crypto—try another card
• Try Apple Pay: Sometimes works when direct card entry fails
• Alternative method: Switch to exchange withdrawal method instead

US residents should review Polymarket USA regulations before depositing.

Sent USDC on Wrong Network

This is serious and can result in permanent loss of funds. Recovery steps:

• Don't panic: The funds may be recoverable depending on the situation
• Find the network: Identify which network you actually sent to
• Add network to wallet: If using MetaMask, add the correct network
• Import wallet: Import your wallet's private key into a multi-chain wallet
• Bridge back: If accessible, bridge the funds to Polygon
• Contact support: If sent to an exchange address, contact their support immediately

Withdrawal Stuck or Pending

If a withdrawal seems stuck:

• Check gas: Ensure you have enough MATIC for the withdrawal transaction
• Verify transaction: Check Polygonscan for transaction status
• Network congestion: During high activity, transactions may take longer
• Speed up transaction: Some wallets allow increasing gas to speed up pending transactions

Security Best Practices

Address Verification

• Copy-paste always: Never type addresses manually—always copy and paste
• Verify characters: Check at least the first and last 6 characters match
• Use address book: Save verified addresses in your wallet's address book
• Beware clipboard malware: Some malware swaps copied addresses—always verify after pasting

Wallet Security

• Hardware wallets: For large amounts ($5,000+), use Ledger or Trezor (see safety guide)
• Seed phrase: Write down your seed phrase on paper, never store digitally
• Multiple wallets: Use separate wallets for trading vs. long-term storage
• Revoke approvals: Periodically review and revoke unused token approvals

Account Security

• Enable 2FA: Activate two-factor authentication on all exchanges and email
• Use authenticator apps: Google Authenticator or Authy instead of SMS
• Unique passwords: Use different strong passwords for each service
• Email security: Your email is often the weakest link—secure it well

Transaction Security

• Test transactions: When using a new method, test with $10-20 before larger amounts
• Verify URLs: Bookmark official sites—don't click links from emails or messages
• Check contract addresses: Verify you're interacting with official contracts
• Review transaction details: Always review what you're signing before confirming

Optimizing Your Deposit Strategy

For New Users ($50-500)

• Method: Use MoonPay despite higher fees
• Reasoning: Convenience outweighs cost when learning the platform
• Tips: Start with small amounts, learn how to trade before scaling up

For Regular Traders ($500-5,000)

• Method: Set up Coinbase or Binance account for withdrawals
• Reasoning: Save 3-4% on every deposit vs. MoonPay
• Tips: Buy USDC with bank transfers for lowest fees, track smart money to improve returns

For High-Volume Traders ($5,000+)

• Method: Use exchange OTC desks or wire transfers
• Reasoning: Better rates for large amounts, dedicated support
• Tips: Keep substantial USDC balance ready, follow top traders, use advanced analytics tools

Fee Savings Calculator

Tax Considerations for Deposits and Withdrawals

While deposits and withdrawals themselves aren't taxable events, you should maintain records for tax purposes:

What to Track

• Deposit dates and amounts: Establishes your cost basis
• Withdrawal dates and amounts: Documents when you took profits
• Transaction hashes: Proof of all blockchain transactions
• Exchange records: Trade confirmations and account statements
• MoonPay receipts: Purchase confirmations showing fees paid

Taxable vs. Non-Taxable Events

For complete tax guidance, see our Polymarket tax guide.

Frequently Asked Questions