Beginner Guide
Everything a beginner needs to go from zero to placing their first real Polymarket trade — wallet setup, depositing USDC, reading odds, and withdrawing winnings.
Prefer to practice first?
PaperPoly lets you trade live Polymarket odds with virtual money — no wallet, no USDC, no risk.
Download MetaMask (browser extension or mobile app) or use Coinbase Wallet. These are the most compatible wallets for Polymarket. During setup, securely store your 12-word seed phrase — this is the only way to recover your wallet.
Tip: New to crypto? PaperPoly requires no wallet at all. Practice first, then set up a wallet when you're ready for real money.
Polymarket uses USDC (USD Coin) on the Polygon blockchain. Buy USDC on Coinbase, Kraken, or Binance, then send it to your wallet on the Polygon network. Make sure to select 'Polygon' as the network when withdrawing from the exchange — not Ethereum mainnet.
Tip: Sending to the wrong network is the most common beginner mistake. Double-check the network before confirming any transfer.
Go to polymarket.com. Click 'Connect Wallet' in the top right. Select your wallet type and approve the connection request. Polymarket will ask you to sign a message to verify ownership — this is free (no gas cost) and safe.
Tip: US residents: Polymarket's terms of service prohibit US participation. Use Kalshi (CFTC-regulated) for real-money trading in the US.
Browse markets by category: Politics, Crypto, Sports, Finance, and more. Each market shows a YES and NO price in cents. A YES price of 65¢ means the market estimates a 65% probability that the event occurs. You profit if you buy YES at 65¢ and the event happens — receiving $1.00 per share, a 54% return.
Tip: Always read the resolution criteria before trading. The exact conditions for YES/NO winning matter.
Click YES or NO on a market. Enter your stake in USDC. Review the number of shares you'll receive and your potential profit. Confirm the transaction in your wallet. Your position is now open and visible in your portfolio.
Tip: Start small. Your first few trades are learning experiences — keep position sizes at 5–10% of your total capital.
You can sell your position before the market resolves to lock in gains or cut losses. Or hold until resolution — if you're right, your shares automatically convert to $1.00 each. Winnings appear in your Polymarket wallet instantly after settlement.
Transfer USDC from your Polymarket wallet to your exchange wallet on Polygon. On the exchange, sell USDC for fiat (USD, EUR, etc.) and withdraw to your bank via ACH or wire transfer. Total time to bank: typically 1–3 business days.
To use Polymarket: (1) Set up a MetaMask or Coinbase Wallet. (2) Buy USDC and bridge it to Polygon. (3) Go to polymarket.com and connect your wallet. (4) Browse markets and click YES or NO on any market to place a trade. Before risking real money, practice for free on PaperPoly.
Yes. Polymarket requires a crypto wallet (MetaMask, Coinbase Wallet, or similar) and USDC on the Polygon network. If you want to practice without a wallet first, PaperPoly lets you trade Polymarket-style markets with virtual money and no wallet required.
Polymarket has no official minimum deposit. However, given Polygon gas fees and practical trade sizes, starting with at least $50–100 in USDC is recommended to make meaningful trades.
Polymarket does not have a built-in demo mode. PaperPoly is a free third-party simulator that mirrors live Polymarket markets with $1,000 in virtual capital — the best way to practice before using real money.
Keep learning
Practice on live Polymarket markets with $1,000 in virtual capital. Free, no wallet needed.
Start paper trading →