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How do I withdraw rewards with the Polygon Network (wBTC) using Coinbase Wallet?
How do I withdraw rewards with the Polygon Network (wBTC) using Coinbase Wallet?
Luke Todd avatar
Written by Luke Todd
Updated over a week ago

This withdrawal method is only recommended to users who have experience with crypto and are comfortable moving funds between networks.

To receive wBTC on Polygon, we recommend downloading Coinbase Wallet, as this wallets has the option to receive tokens sent via the Polygon network. This article covers using Coinbase Wallet. If you choose to use an alternative wallet, you are doing so at your own risk.

PLEASE NOTE: Coinbase Wallet is a separate app from standard Coinbase. Coinbase and Binance CANNOT receive the initial wBTC deposit on the Polygon network. Sending your funds to an incorrect address or on the wrong network will result in the loss of these funds.

Coinbase Wallet:

Step 1: Download Coinbase Wallet

Please download Coinbase Wallet and follow their steps to set up your own wallet. Once complete, please tap on the "Receive" button. You should see the following screens:

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Copy the wallet address highlighted by the arrow. This is what you will enter into Ember.

PLEASE NOTE: This is labeled as an "Ethereum address", however, this does NOT mean that you can input any Ethereum address into Ember. The wallet shown is also a Polygon address, as seen by the small purple Polygon logo below the wallet address.

Once you copy this address, paste it into Ember, and then confirm your transaction! At this point, please wait until your withdrawal is processed on our end. The following steps will outline how you can go from wBTC to MATIC (which can then be sent to your exchange of choice).

Step 2: Swap wBTC to MATIC

Once you receive your wBTC, if you're trying to convert to fiat currency, the next step is to swap this into MATIC.

PLEASE NOTE: This swap requires that you already have MATIC in your wallet, as MATIC is needed to cover network fees on the Polygon network. Most wallet providers offer an option to buy crypto with your debit/credit card, so you can deposit MATIC into your account that way. You will likely need ~1-10 cents to cover the fee for this swap.

To swap from wBTC to MATIC, tap on the "Swap" button found at the top of Coinbase Wallet. Swap from wBTC to MATIC, enter your amount, and then tap "Find the best price." You should see the following screens:

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Once your wBTC is swapped for MATIC, you can now send your MATIC to the exchange of your choice using the Polygon network.

If you'd like to send this to Coinbase, please check out this article: Sending MATIC from Coinbase Wallet to Coinbase

If you'd like to send this to Binance, please check out this article: Sending MATIC from Coinbase Wallet to Binance

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