The Polygon network is an Ethereum scaling solution built to provide faster, cheaper transactions. Polygon is a Layer 2 network that uses sidechains to expand Ethereum’s transaction throughput. This allows payers to make payments for a fraction of the cost of sending on Ethereum Mainnet.
Coinbase Commerce supports USDC, WETH (wrapped ETH), and MATIC payments on Polygon. In addition to making transactions faster and cheaper for your customers, Polygon reduces network fees for you to withdraw or refund transactions.
You can manage your enabled assets and networks from the Payments tab of your Settings.
Move funds from Polygon
When a payer sends funds on the Polygon network, those funds will show up as separate assets on your Balances dashboard.
You have several options when it comes to managing your funds on the Polygon network. You can:
Withdraw your funds from the Coinbase wallet.
Cash out your Polygon funds by using an exchange.
Bridge funds on Polygon to a different blockchain.
This article provides guidance for each of these options.
Withdrawing funds from your Coinbase Commerce account works the same on Polygon as it does on any other network. Information on withdrawing funds can be found on the Commerce Help Center, including information on what steps to follow and details about fees.
Note that MATIC is the native token for the Polygon network and is required to cover any network fees to withdraw Polygon funds, including USDC and WETH. Network fees are collected by the Polygon validators.
To cash out, you should start by withdrawing your funds from Commerce to your preferred exchange. Instructions for withdrawing can be found in the Commerce Help Center.
If you withdraw your funds to Coinbase, you can cash out by following the steps outlined in this article. If you're using another exchange to convert your cryptocurrency to cash, look for information on their help center if you need guidance.
Bridging is the term used to describe the action of moving assets from one blockchain to another. Blockchain assets are not always compatible with each other, so blockchain bridges create derivatives (or copies) that represent an asset from another chain.
For example, if you use a bridge to send a token on the Polygon blockchain to an Ethereum wallet, the Ethereum wallet would receive a bridge version of the Polygon token that was converted to an ERC-20 token for use on the Ethereum blockchain.
Common reasons for using a blockchain bridge include:
Access networks that offer faster and cheaper transactions
Access markets that only exist on another blockchain
Buy tokens that are only on another blockchain
Interact with a dapp or protocol that is on another blockchain
You'll need to withdraw your funds from your Commerce wallet before you can bridge them. You can use Coinbase Wallet or another cryptocurrency wallet to bridge.
The Wallet Help Center provides more general information about bridging and how to bridge with Coinbase Wallet. For bridging with other wallets, check your wallet’s help center to see which bridges are supported or visit a bridge directly.