How to Deposit on Polymarket: 3 Ways to Fund Your Account (Step-by-Step)

The number one thing that stops people from trading on Polymarket is not understanding the markets — it is figuring out how to get money onto the platform. Unlike Kalshi, where you deposit dollars from your bank account, Polymarket runs on USDC on the Polygon network. If those words mean nothing to you, do not worry. This guide walks through all three deposit methods step by step, including the common mistakes that cause people to lose money or wait days for stuck transactions.

What You Need to Know First

Polymarket uses USDC (USD Coin) as its currency. USDC is a stablecoin pegged 1:1 to the US dollar — one USDC always equals one dollar. However, USDC exists on multiple blockchain networks (Ethereum, Polygon, Solana, etc.), and Polymarket only accepts USDC on the Polygon network.

This is the single most important thing to understand before you deposit. If you send USDC on the wrong network, your funds can be lost or stuck. Read that again.

Here are your three options for getting USDC onto Polymarket, ordered from easiest to most advanced.

Method 1: Built-In On-Ramp (Debit/Credit Card)

Best for: Beginners, small deposits, getting started quickly Fees: Approximately 2-3% processing fee Speed: Near-instant

This is the simplest method. Polymarket has a built-in on-ramp that lets you buy USDC directly with a debit or credit card.

Step by Step

1. Log in to Polymarket and click the “Deposit” button (usually in the top-right or in your account/wallet section).
2. Select the card deposit option. Polymarket partners with third-party payment processors like MoonPay or Transak to handle the fiat-to-crypto conversion.
3. Enter the amount you want to deposit in USD.
4. Enter your card details. Standard debit or credit card information — number, expiration, CVV.
5. Complete any identity verification the payment processor requires. This may include providing your name, address, and sometimes a photo ID. This is a one-time step.
6. Confirm the transaction. The processor will show you the exact amount of USDC you will receive after fees.
7. Wait for the deposit to arrive. This usually takes 1-5 minutes. The USDC is purchased on your behalf and deposited directly into your Polymarket wallet on Polygon.

Pros and Cons

Pros: Dead simple. No crypto knowledge needed. No separate exchange or wallet required.

Cons: The 2-3% fee adds up on larger deposits. A $500 deposit costs you $10-15 in fees. Some cards (particularly credit cards) may be declined because card issuers block crypto purchases. If your card gets declined, try a different card or switch to Method 2.

Method 2: Transfer USDC from a Crypto Exchange

Best for: Traders who already have a Coinbase, Kraken, or other exchange account Fees: Exchange withdrawal fee (often $0-1 on Polygon) + any purchase spread Speed: 5-30 minutes

If you have an account on a major crypto exchange, this is the most cost-effective way to deposit. You buy USDC on the exchange and send it directly to your Polymarket wallet on Polygon.

Step by Step

1. Get your Polymarket deposit address. In Polymarket, go to your wallet or deposit section and copy your Polygon wallet address. It will look something like 0x1a2b3c4d... — a long string of letters and numbers. This is your personal deposit address.

2. Buy USDC on your exchange. Log in to Coinbase (or Kraken, Binance, etc.) and purchase USDC. On Coinbase, this is straightforward: go to USDC, click Buy, enter the dollar amount, and confirm. The conversion from USD to USDC is typically 1:1 with no spread on Coinbase.

3. Withdraw USDC to Polygon. This is the critical step. Go to the withdrawal or send section of your exchange and:

   • Paste your Polymarket wallet address as the destination
   • Select the Polygon network (sometimes labeled “Polygon PoS” or “MATIC”)
   • Double-check the network selection. If you accidentally select Ethereum mainnet, your USDC will be sent to the right address but on the wrong network. It is recoverable but painful.
   • Enter the amount of USDC to send
   • Confirm the transaction and complete any 2FA verification

4. Wait for the transfer. Polygon transactions usually confirm in a few minutes. Your USDC will appear in your Polymarket wallet once the transaction is confirmed on the blockchain.

Critical Mistake to Avoid

Do NOT send USDC on the Ethereum network to your Polymarket address. Your Polymarket wallet address is valid on both Ethereum and Polygon (they share the same address format), but Polymarket only reads balances on Polygon. If you send on Ethereum, your USDC sits in the same address on a different network. You would need to bridge it to Polygon yourself (see Method 3) to access it.

When withdrawing from an exchange, the network selection dropdown is the most important thing on the screen. Take an extra five seconds to verify it says Polygon.

Exchange-Specific Notes

• Coinbase: Supports direct USDC withdrawal to Polygon. Select “Polygon” as the network when sending. Withdrawal fees are minimal.
• Kraken: Supports Polygon withdrawals for USDC. Check their fee schedule as it changes periodically.
• Binance: Available for non-US users. Supports Polygon USDC withdrawals. Select “Polygon” network.

Method 3: Bridge USDC from Ethereum to Polygon

Best for: Users who already hold USDC on Ethereum mainnet Fees: Ethereum gas fees ($2-15 depending on network congestion) + bridge fee Speed: 10-30 minutes

If you already have USDC sitting in an Ethereum wallet (like MetaMask), you can bridge it to Polygon and then deposit on Polymarket. This is the most technically involved method and is only recommended if you are already comfortable with DeFi operations.

Step by Step

1. Go to the Polygon Bridge at portal.polygon.technology or use a third-party bridge like Hop Protocol or Across.
2. Connect your wallet (MetaMask, Coinbase Wallet, etc.) that holds your USDC on Ethereum.
3. Select the bridge direction: Ethereum to Polygon.
4. Select USDC as the token and enter the amount to bridge.
5. Approve the USDC spend if prompted. This is a one-time approval transaction that costs a small amount of ETH gas.
6. Confirm the bridge transaction. This will cost Ethereum gas fees — check current gas prices before confirming. During low-traffic periods, this might be $2-5. During congestion, it can spike to $15 or more.
7. Wait for the bridge to complete. The official Polygon bridge takes 15-30 minutes. Third-party bridges like Hop or Across are often faster (2-10 minutes) but may charge a small additional fee.
8. Once your USDC is on Polygon, deposit it to Polymarket. If your wallet is already connected to Polymarket, the funds should appear automatically. If you used a separate wallet, send the USDC from your Polygon wallet to your Polymarket deposit address.

When to Use This Method

Honestly, unless you already have USDC on Ethereum that you want to move, this method is not worth the hassle. The gas fees on Ethereum eat into your deposit, and the bridging process adds complexity. Method 2 (buying USDC on an exchange and withdrawing directly to Polygon) is cheaper and simpler in almost every case.

Fee Comparison Summary

Method	Fees	Speed	Difficulty
Card on-ramp	2-3%	Instant	Easy
Exchange transfer	$0-1	5-30 min	Medium
Ethereum bridge	$2-15+ gas	10-30 min	Advanced

For deposits under $200, the card on-ramp is fine — the convenience is worth the small fee. For deposits over $200, the exchange transfer method saves you real money. On a $1,000 deposit, the card on-ramp costs you $20-30 in fees, while the exchange transfer costs roughly $1.

After You Deposit: Placing Your First Trade

Once your USDC appears in your Polymarket wallet, you are ready to trade. Navigate to any market, choose “Yes” or “No,” enter your amount, and confirm. The full guide to trading on Polymarket covers market selection, order types, and strategies in detail.

A few quick tips for your first trade:

• Start small. Put $10-20 on a market you understand well, just to get comfortable with the interface.
• Use limit orders to avoid slippage on illiquid markets. Market orders on thin books can fill at worse prices than expected.
• Understand the contract. Read the resolution criteria carefully. One of the most common mistakes new traders make is not understanding exactly what needs to happen for a contract to settle in their favor.

Withdrawing Funds

Getting money off Polymarket is essentially the reverse of Method 2. You withdraw USDC from Polymarket to your crypto wallet on Polygon, then either send it back to an exchange (where you sell for USD and withdraw to your bank) or hold it as USDC.

Withdrawals from Polymarket to your wallet are fast — usually under 5 minutes. The bottleneck is converting back to dollars on your exchange, which depends on the exchange’s processing times.

The Bottom Line

Depositing on Polymarket is the biggest friction point for new traders, but it is a one-time learning curve. Once you have done it once, subsequent deposits take under a minute. The exchange transfer method (Method 2) gives you the best balance of cost and simplicity, and it is what we recommend for most traders.

If you are deciding between Polymarket and a platform with simpler deposits, remember that the deposit method is a one-time hurdle, while the trading experience, fees, and liquidity affect every single trade you make. Do not let the crypto deposit process scare you away from the deepest prediction market in the world.