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How to set up and fund a Matic wallet

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DappRadar

You can set up a Matic wallet using many existing Ethereum wallets

DappRadar has started tracking dapps using Matic Network’s blockchain, so now is a good opportunity to explain how to set up and fund a Matic wallet. 

The good news is because Matic is compatible with Ethereum, you can set up a Matic wallet using many existing Ethereum wallets, including the browser-based Metamask extension, which is the most popular Ethereum wallet. 

And this is the route we’re going to take in this article and its accompanying video. 

To begin, head to Wallet.Matic.Network

Then log in to Metamask, and click on the Login for Metamask option and follow the prompts to connect including the signature request. 

Once you’re connected, you’ll see the main Matic wallet UI, which details the tokens in your Ethereum mainnet account and on your Matic mainnet account.

(Note both of these accounts will have the same Ethereum public key but obviously, they are separate accounts on separate blockchains.)

As the MATIC token is an ERC20 token, you can hold it in your Ethereum account but the point of this article is to transfer it to your account on the Matic blockchain. In order to do this, we’re going to exchange some of our ETH tokens for MATIC using Uniswap on Ethereum. 

Then we select the Matic Wallet button and click on the Deposit option. As we’re making this transfer for the first time, we have to sign the Permission prompt to enable the Matic wallet to interact with the MATIC tokens on the Ethereum blockchain. Then we can make the deposit. 

It’s worth noting that because we’re transferring tokens from the Ethereum blockchain to the Matic blockchain, we have to wait a bit longer – 7-8 minutes – before the transfer is confirmed as final. 

And then we’re done. We’ve created a wallet on the Matic blockchain and we also have some MATIC tokens on the Matic blockchain, which we can control through our new wallet.

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