Polygon is a Layer 2 scaling solution for Ethereum that enables cheap and fast transactions. This guide will walk you through the process of transferring funds in USD Coin (USDC) on the Polygon network. No prior experience with Polygon is required.
Purchase USDC
First you'll need to purchase USDC. You can buy this cryptocurrency on various exchanges, like Coinbase or Binance.
- Create an account on a reputable exchange and complete the necessary identity verification steps.
- Connect your bank account or credit card and purchase an amount of USDC that you'd like to transfer. Keep in mind that you'll need a small amount of ETH to cover gas fees (the transaction fees on the Ethereum network).
Transfer USDC on Polygon
Now that you have purchased some USDC, you can transfer it to other addresses. To do so through an exchange, you’ll need to do the following:
- Log into the exchange and locate your USDC wallet.
- Click "Withdraw" and select the Polygon network.
- Enter the Polygon address provided in the email we sent you.
- Input the USDC amount you wish to transfer and review transaction details and fees. Keep in mind that you’ll need a small amount of MATIC to cover the transaction fees on the Polygon network.
- Click "Submit" and complete any security verifications.
- Await confirmation of the USDC transfer on the Polygon network. Your transaction should then be visible on Polygonscan (https://polygonscan.com/).
Fill in the deposit Typeform
Once you have transferred the funds, head over to the Typeform link provided in the email we sent you.
Please fill in the relevant information, including the transaction hash (i.e. the PolygonScan transaction link) and your wallet address (it should be in the format of: 0x...…).