Crypto

5 Steps To Send MATIC From FTX To Your Metamask Wallet

How To Transfer MATIC From FTX To Metamask

Last updated on March 7th, 2022

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You may have bought some MATIC on FTX, and are looking to send it to your Metamask wallet.

Here’s a guide to show you each step:

How to transfer MATIC from FTX to Metamask

Here are 5 steps to send MATIC from FTX to your Metamask wallet:

  1. Select the appropriate network on your Metamask wallet
  2. Copy the wallet address from your Metamask wallet
  3. Go to ‘Wallet’ on FTX and select the currency to send
  4. Enter the withdrawal details on FTX
  5. Receive MATIC in your Metamask wallet

Select the appropriate network on your Metamask wallet

The first thing you’ll need to do is to ensure that you’ve selected the appropriate network on Metamask.

Metamask Supported Networks

You are able to send either the ERC20 or Polygon versions of MATIC from FTX to your Metamask wallet. As such, you will need to select which network you intend to use to send your MATIC tokens.

You will need to add the Polygon network to your Metamask wallet if you have not done so too.

Copy the wallet address from your Metamask wallet

Once you have selected the appropriate network on your Metamask wallet, you will need to copy the deposit address from your Metamask wallet.

Metamask Copy ETH Address

You may have noticed that your Polygon deposit address is exactly the same as your Ethereum Mainnet address.

However, you will still need to add the Polygon network to your Metamask wallet so that you can view the MATIC that you’ve sent over using those networks.

If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.

This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!

Go to ‘Wallet’ on FTX and select the currency to send

Once you’ve obtained the address to send to, you’ll need to go to FTX to start sending your funds.

You’ll need to go to ‘Wallet’, search for MATIC and then select ‘Withdraw‘.

FTX Withdraw MATIC

Enter the withdrawal details on FTX

After selecting MATIC, you’ll need to enter the withdrawal details on FTX.

This includes:

  1. The address that you’ve copied from Metamask
  2. The withdrawal method that you intend to use (MATIC or ERC20)
  3. The amount of MATIC that you should be sending
FTX Withdraw MATIC Details

FTX allows you to withdraw MATIC using either the MATIC or ERC20 network.

Receive MATIC in your Metamask wallet

Once the MATIC withdrawal has been confirmed on FTX, you should receive your funds in your Metamask wallet.

The Ethereum network may be congested, so it can take up to a few hours before your funds have reached your Metamask wallet.

What are the fees for transferring MATIC from FTX to Metamask?

FTX does not charge any withdrawal fees if you’re using the MATIC network to send MATIC, but you will be subject to a withdrawal fee if you are using the ERC20 network to withdraw MATIC. This fee will depend on the network congestion at the time of withdrawal.

As such, it will be better to use the MATIC network to withdraw to your Metamask wallet, as you will save on the transfer fees!

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Conclusion

To send MATIC from FTX to Metamask, you can do so either with the MATIC or ERC20 network.

Don’t forget to add the Polygon Network to your Metamask wallet if you are intending to withdraw using the MATIC network!

If you’re looking to generate tax reports for your crypto trades, you can consider using Koinly, which allows you to track your transactions from 350+ exchanges and 50+ crypto wallets.


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