You played the game and won. The market resolved in your favor, the winnings have hit your account, and now it’s time to cash out. Getting your money off Polymarket and back into your bank account is a straightforward process—it’s essentially the reverse of how you funded it.
Here’s the playbook.
Step 1: Send Your USDC to an Exchange
Your winnings are in USDC in your Polymarket wallet. The first move is to get those funds to a major cryptocurrency exchange—the same kind of place you likely used to buy crypto in the first place.
- In your Polymarket account, find the “Withdraw” option.
- You’ll need a USDC deposit address from your chosen exchange (e.g., Coinbase, Kraken, or a Canadian-friendly one like Newton).
- Copy your exchange’s USDC address, paste it into Polymarket, specify the amount, and send it. Be sure you’re sending on the Polygon network to keep fees low.
The transfer usually takes just a few minutes.
Step 2: Convert USDC to Your Local Currency
Once the USDC lands in your exchange account, the next step is to sell it for fiat currency (like Canadian Dollars, Euros, etc.). On the exchange, find the USDC/CAD or relevant trading pair and execute a “sell” order. This will convert your stablecoins into cash held within your exchange account.
This process is a core part of the crypto ecosystem and is a necessary step before you can get the money into your bank. It’s the bridge from the digital world back to the traditional one.
Step 3: Withdraw to Your Bank
This is the final step. With cash now sitting in your exchange account, simply use the exchange’s “Withdraw” function to send the money to your linked bank account. For those wondering how to use Polymarket in Canada, this is often done easily via Interac e-Transfer and can be surprisingly fast.
Keep in mind there will be minor fees along the way—a small network fee for the crypto transfer and likely a small withdrawal fee from the exchange. But that’s it. You’ve successfully moved your profits from a winning trade back into your real-world bank account.