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.

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.

USDC is a stablecoin pegged 1:1 to the US dollar, meaning 1 USDC always equals approximately $1 USD. The Polygon network is a layer-2 scaling solution that processes transactions faster and cheaper than Ethereum mainnet.

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.

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, etc.)
• A small amount of MATIC tokens for gas fees (usually $0.01-0.05 per transaction)
• Your Polymarket account connected to your wallet

Step-by-Step Direct Deposit Process

1. Connect Your Wallet: Navigate to Polymarket.com and click "Connect Wallet" in the top right corner
2. Access the Deposit Interface: Click your profile icon, then select "Deposit"
3. Enter Deposit Amount: Type the amount of USDC you want to deposit
4. Confirm Transaction: Your wallet will prompt you to approve the transaction
5. Verify Deposit: Once confirmed, your USDC balance will update automatically

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

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, though it comes with higher fees (3.5-4.5%) than direct crypto deposits.

MoonPay Purchase Process

1. Select Card Purchase Option: In the deposit modal, select "Buy with Card" or "MoonPay"
2. Enter Purchase Amount: Specify how much USDC you want to purchase (minimum typically $20-30)
3. Complete KYC Verification: First-time users must provide ID verification
4. Enter Payment Details: Input your credit or debit card information
5. Confirm and Wait: After payment, USDC will appear in your wallet within minutes

KYC approval typically takes 2-10 minutes. Delivery times vary: first purchase takes 10-60 minutes, subsequent purchases take 5-15 minutes.

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.

Using the Official Polygon Bridge

1. Access the Polygon Bridge: Visit wallet.polygon.technology and connect your wallet
2. Select Bridge Parameters: Choose "Ethereum" as source and "Polygon PoS" as destination
3. Initiate Bridge Transaction: Approve the token access and bridge transaction
4. Wait for Completion: The official bridge takes 7-8 minutes to complete

Alternative Bridging Solutions

• Hop Protocol: 1-2 minute transfers, 0.1-0.3% fee plus gas
• Synapse Protocol: 2-5 minute transfers, 0.05-0.2% fee plus gas
• Across Protocol: 2-4 minute transfers, competitive fees

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.

From Coinbase

1. Navigate to your USDC wallet
2. Click "Send" and select "Polygon" network
3. Enter your Polygon wallet address
4. Confirm withdrawal (usually arrives in 1-5 minutes)

From Binance

1. Go to Wallet → Fiat and Spot → Withdraw
2. Select USDC and choose "Polygon" network
3. Enter wallet address and amount
4. Complete 2FA verification (arrives in 2-10 minutes)

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, then select "Withdraw"
2. Enter Withdrawal Amount: Type the amount of USDC to withdraw
3. Confirm Transaction: Review the gas fee and click "Withdraw"

Note: You cannot withdraw USDC currently committed to active positions—you must resolve or sell those positions first.

Converting USDC Back to Fiat

After withdrawing USDC to your wallet, you have several options:

• Transfer to Exchange: Send to Coinbase, Binance, etc., then withdraw to bank (1-5 business days)
• Crypto Off-Ramp Services: MoonPay, Transak, or Ramp allow direct USDC-to-bank conversions (1-5% fees)
• Keep as USDC: Leave funds for future trades or DeFi yield opportunities

Withdrawal Timelines and Processing

• Polymarket to Wallet: 5-30 seconds (instant on Polygon)
• Wallet to Exchange: 2-10 minutes (Polygon network confirmation)
• Exchange to Bank: 1-5 business days (ACH/SEPA transfers)
• Crypto Off-Ramp: 1-3 business days

Troubleshooting Common Issues

Deposit Not Appearing

Check that you sent USDC on the Polygon network, not Ethereum or another chain. Verify transaction completion on Polygonscan.com. Try disconnecting and reconnecting your wallet.

Insufficient MATIC for Gas Fees

Every Polygon transaction requires MATIC tokens for gas. You can use a Polygon gas faucet, buy MATIC on an exchange, or bridge ETH and swap for MATIC. Usually $5-10 worth of MATIC is enough for hundreds of transactions.

MoonPay Card Declined

Many banks flag cryptocurrency purchases as high-risk. Contact your bank to authorize transactions. Some banks completely block crypto purchases—you may need an alternative payment method.

Sent USDC on Wrong Network

This is serious and can result in permanent loss of funds. If using MetaMask or similar, add the network where you sent funds and check if they're accessible. Import your wallet's private key into a multi-chain wallet to access funds on other networks.

Optimizing Your Deposit Strategy

• For New Users ($50-500): Use MoonPay despite higher fees. The convenience outweighs the cost when testing the platform.
• For Regular Traders ($500-5,000): Set up an account on Coinbase or Binance. Buy USDC with bank transfers and withdraw to Polygon.
• For High-Volume Traders ($5,000+): Use exchange OTC desks or bank wire transfers. Keep substantial USDC balance on Polygon.

Security Best Practices

• Verify All Addresses: Always copy-paste and verify at least the first and last 6 characters
• Use Hardware Wallets: For large amounts, use Ledger or Trezor devices
• Enable 2FA Everywhere: Activate two-factor authentication on exchanges and email
• Test Small Amounts First: When using a new method, test with $10-20 before larger amounts
• Bookmark Official Sites: Avoid phishing by bookmarking official URLs