Polymarket Beginner's Guide: Getting Started with Zero Barriers
Polymarket Beginner's Guide: Getting Started with Zero Barriers
After writing technical articles analyzing Polymarket's underlying principles, I've received many messages from newcomers. There are actually many risks on Polymarket, so today I'm writing a dedicated guide for beginners. Please remember the following carefully.
After reading this article, you'll avoid deposit/withdrawal issues that lead to exchange account bans and fund losses.
A Platform Changing the World
Polymarket isn't just a "betting platform"—it's a prediction market that aggregates collective intelligence to forecast real-world events. The prices you see represent the crowd's probability assessment of future outcomes.
Essential Preparations
Proxy/VPN
Before accessing Polymarket, select an appropriate regional proxy. Region selection is crucial.
Polymarket is prohibited in multiple regions, including:
- Countries under comprehensive US sanctions (Iran, Syria, Cuba, North Korea)
- Ukraine's Crimea, Donetsk, and Luhansk regions
- United States, United Kingdom, France, Ontario, Singapore, Poland, Thailand, Taiwan
Theoretically, countries not on this list can use Polymarket. Recommended regions include: Japan, South Korea, India, Philippines, Spain, Portugal, Netherlands—these have no explicit Polymarket restrictions.
Some users switch to wrong regions and can't access the platform, thinking they're banned. Now you understand what regional access restrictions mean.
Wallet
Although Polymarket supports Visa, Mastercard, and PayPal deposits, I recommend setting up a crypto wallet.
Recommended: OKX Wallet (https://web3.okx.com)
Polymarket now supports multiple networks: Ethereum, Solana, BSC, Base, Polygon, Arbitrum, Optimism, Monad, HyperEVM.
Recommendation: Deposit USDC for minimal friction. Depositing other tokens ultimately converts to USDC with some slippage.
Once your proxy and wallet are ready, let's register.
Registration
Visit Polymarket and click "Sign Up" in the top right corner. Connect your wallet, or register with Google/email.
If you plan to build trading bots later, wallet registration is recommended for easier API access.
You'll typically set a username, approve wallet transactions, then you're ready to deposit.
Deposits
CRITICAL: Never deposit directly from an exchange to Polymarket. First deposit to your wallet address, then transfer from wallet to Polymarket.
Why the extra step? Exchanges flag addresses interacting with gambling/prediction contracts, potentially freezing your exchange account. Sometimes Polymarket itself freezes accounts for this reason.
Search "Polymarket banned" on X/Twitter—you'll find many people banned by exchanges or Polymarket because they deposited/withdrew directly with exchanges.
Remember: Whether depositing or withdrawing, always go through your wallet first.
Wallet transfers require gas fees, but they're typically under $0.10—negligible.
Trading and Withdrawals
Trading is straightforward. With your understanding of YES + NO = 1, find markets in areas you understand, identify mispriced opportunities, and place your bets.
For withdrawals: First withdraw to your wallet, then from wallet to exchange.
For USDC withdrawals to wallet, I recommend Polygon chain USDC.e for zero-loss transfers:
From your wallet, deposit USDC.e to exchanges—both Binance and OKX support USDC.e deposits.
Exchange flash-swap converts to USDC with minimal or zero loss (roughly 0.1% for non-large amounts—negligible).
FAQ
Q: Why hasn't my deposit arrived? A: Check the blockchain explorer to see if the transaction is confirmed on-chain. Or paste your address into an AI assistant to check the status.
Q: Can I trade on mobile? A: Yes. Install OKX Wallet on your phone and access Polymarket through the wallet's browser.
Q: What are the benefits of using a referral link? A: Referral codes support content creators. If the creator develops tools or communities, referred users often get priority access.
Key Takeaways
- Use appropriate regional proxy (Japan, Korea, India, etc.)
- Never direct transfer between exchange and Polymarket
- Always route through your personal wallet
- Use USDC on Polygon for minimal friction
Following these guidelines will help you avoid the most common pitfalls that trap Polymarket newcomers. Happy trading!