Faster, Easier & Cheaper Way To Withdraw ETH on Polygon Network [Tutorial]

avatar

screely1623147380212.png

Source: https://blog.okcoin.com/2021/06/03/introducing-polygon-save-25-on-eth-transactions-with-our-new-integration/


Recently I have been trying my luck on Polygon DeFi. GAS fees are low and transactions are much faster as compared to Ethereum or BSC. There are a few ways to get your ERC-20 (Ethereum) and BEP-20 (BSC) assets to Polygon Network. First, you send your assets sitting on the exchange to metamask and use bridges like https://wallet.matic.network/ (Eth to Polygon) & https://www.xpollinate.io/ (BSC to Polygon). It has a decent number of steps and it's time taking. Transaction fees are so high when it comes to Ethereum.

Thanks to Okcoin, we now have a convenient way to do all of this in minimal steps. If you want to create an account, you can use my referral link. We will both receive $10 in Bitcoin when you deposit or trade $100 of your local currency or more of crypto on Okcoin. That's free money for both of us:

Okcoin Referral link: https://www.okcoin.com/join?channelId=600073789

You can save 25% on ETH transactions with this latest integration. None of the exchanges are currently providing Polygon Network withdrawals feature except Okcoin. Please let me know if you know of any other exchange that has such a feature.

It's very easy to deposit your Ethereum to Okcoin wallet and withdraw them to Polygon Network. Here is the step-by-step process with screenshots. First, you need to create your account on Okcoin. Then you need to either buy or deposit Ethereum into your Okcoin wallet:

Deposit Ethereum

Go to the 'Assets' tab on the top right of the window and click on 'Deposit'. This will take you to the window where you can select the currency type that you want to deposit.

screely1623137652410.png

When you select 'Currency Type' as 'Ethereum' a 'Continue' button will appear on the window. Click on that to proceed to the next step where you will get the address to deposit your Ethereum into Okcoin wallet.

Ethereum.png

Just copy the ETH address to which you can send your Ethereum. And use it to send a minimum deposit of 0.01 Ethereum. Anything less than that will be lost. So make sure you either send 0.01 or more.

screely1623138033738.png

It will take a good 5 minutes to show up in your wallet so chillax. Once your Ethereum is visible, you can click on 'Withdrawal' button under 'Assets' tab.

screely1623138297433.png

Select the 'Currency' as 'ETH', 'Withdrawal method' as 'On-Chain', and 'Withdrawal Network' as 'ETH-Polygon'. Click 'Continue' to proceed.

screely1623138355055.png

Enter your Polygon Address which you can pick from your Metamask or any other wallet. Also, enter the amount. Make sure you send enough because a small fee will be deducted as shown. So estimated amount is going to be credited to your Polygon wallet. Click, 'continue' to proceed.

screely1623140077916.png

screely1623140244696.png

screely1623140310814.png

These seem like so many steps but they happen so fast and generally, your funds will appear in your Polygon in 5-10 minutes. I hope you like this simple tutorial. This can help you get into Polygon DeFi platforms and try your luck.

Breaking News: A few hours ago I found out that Polygold, new Defi platform on Polygon, pulled the rug. I lost a few bucks and I invested a day ago. 😂 Tough luck but it was quite a lesson. No wonder a lot of people trust Cub Finance because one can rely on the team that they won't do such shit. I will be a little careful from now on and invest only in a few trusted projects. Will make a post about the best and trusted DeFi platforms on Polygon for you guys to try out. Hopefully, we get to see Cub Finance on the list very soon.




https://leofinance.io/@finguru

Twitter.png

https://twitter.com/finguru6


finguru#4062


Not financial advice. For infotainment purposes only.

Posted Using LeoFinance Beta



0
0
0.000
11 comments
avatar

Very helpful guide as I've been postponing the step to start learning about the usage of polygon. My boyfriend has been excited about matic since he found it at 3,5 cents value, but yet we both still have never used the network. Going to reblog this post for future references and also drop it on Twitter :)

Posted Using LeoFinance Beta

0
0
0.000
avatar

That's cool @thisismylife. You can use this exchange to get your ETH on Polygon Network. And from there it's just like Cub Finance.

Thanks a ton for the support. It means a lot to me. Hope this tutorial is helpful enough for anyone who's looking to get into Polygon DeFi.

Posted Using LeoFinance Beta

0
0
0.000
avatar

No problem, I will check it out tomorrow or later this week, because I don't have time for it now. But will share your post later on Twitter. To me it was helpful enough to reblog so maybe for others it's helpful too. I just needed a kick to check it out, and will use your tutorial when I'm going to check it out. Have a great day!

0
0
0.000
avatar

Congratulations @finguru! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You published more than 70 posts.
Your next target is to reach 80 posts.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Feedback from the June 1st Hive Power Up Day
0
0
0.000
avatar
(Edited)

Bookmarked. Very helpful tutorial. This will be of great help to me and friends of mine experiencing difficulties navigating the polygon network. Thanks for taking your time to do this


Posted via proofofbrain.io

0
0
0.000
avatar

Cheers man. Glad I could help! It seems overwhelming at first but once you get a hang of it, you are good.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Oh I didn't realize you were hit by the rugpull just a few hours after entring. Also great guide on how to get started moving funds over to Polygon.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yeah, it was crazy.😂 Lucky enough to get away early!

Thank you so much J.

Posted Using LeoFinance Beta

0
0
0.000