Polymarket is a decentralized prediction market platform where you can trade on the outcomes of real-world events. This tutorial will guide you through how to use SafePal wallet to trade and withdraw funds on Polymarket.
Prerequisites
- SafePal wallet installed on your phone device
- $USDC (USDC.e) funds on Polygon for trading on Polymarket
The Step-by-Step Guide
Step 1: Access Polymarket
Open your SafePal App, click the Predictions tab from the Trade section.
Step 2: Find a Market to Trade
Browse the Polymarket homepage for trending markets, you can use categories or search to find specific markets, and click on any market to view details and trading options. Here we will trade in the Crypto market.
Step 3: Place Your First Trade
Let's use an example market: "Will Bitcoin reach $150k in March?" On the market page, you'll see two options:
- "Yes" (price represents the probability of event happening)
- "No" (price represents probability of event not happening)
Choose which outcome you want to trade, enter the number of shares you want to buy, review the total cost and potential Win. Here we will Buy No.
Wait for the trading order to finally process, or you can click the Sell tab to sell your shares in advance.
Tap Sell to confirm and you will receive the funds in your Polymarket balance in the portfolio.
Step 4: Withdraw Funds Back to SafePal App
Navigate to the portfolio page in the Polymarket, and tap the Withdraw tab.
Enter the amount to withdraw.
Enter your SafePal App password to confirm in your SafePal wallet
The funds will appear in your SafePal wallet shortly after the transaction is broadcast onto blockchain.
Important Notes
- Gas Fees: Always maintain a small MATIC balance for transactions
- USDC.e: Polymarket uses the "bridged" version of USDC on Polygon
- Security: Never share your seed phrase or private keys
Support Resources
- Contact SafePal Support Here
Disclaimer: Trading on prediction markets involves risk. Only trade with funds you can afford to lose. This tutorial is for educational purposes only.
