The complete guide to moving your funds in CEX to non-custodial wallets such as MetaMask
It can be daunting for beginners to deposit fiat money into centralised crypto exchanges and then move it to non-custodial wallets such as MetaMask. But once this process is figured out, the possibilities are limitless, such as earning 37%+ APY on Polysynth DeFi Options Vaults.
Let's see how the process works using the two most popular centralised exchanges, Binance and FTX. The process will be very similar for exchanges like Coinbase, CoinDCX etc.
On FTX you can make deposits directly from your debit cards or credit cards.
Once the deposit has been made, select the withdraw option.
Now, simply enter your MetaMask Wallet address, enter the amount you wish to move to MetaMask, and choose the network. Here, we have chosen MATIC (Polygon), as it's inexpensive and supported by Polysynth.
Even if you withdraw the funds using any other networks such as Ethereum or Ethereum L2s like Arbitrium or Optimism, you can still bridge the funds to Polygon inexpensively using our supported bridges, Hyphen, Wormhole, O3 Swap and Polygon Bridge.
Once the funds are in your MetaMask Wallet, it's as simple as 1-2-3 to deposit assets in Polysynth DOVs to earn 37%+ APY.
Select your desired DOV, here we have selected ETH Cash-Covered Put DOV as it currently offers the highest APY. Enter the amount you wish to deposit and click deposit USDC.
Just confirm the prompt on MetaMask, and your funds will now be earning 37%+ APY passively.
The crypto buying process is pretty similar on Binance as well. Simply select buy crypto in the Fiat and Spot section.
Enter the amount you wish to add to Binance and click on continue.
Once the funds have been added to Binance, click on withdraw.
Now, simply enter your MetaMask Wallet address, enter the amount you wish to move to MetaMask, and choose the network. Here, we have chosen MATIC (Polygon) again, as it's inexpensive and supported by Polysynth.
Now you are a PRO at this process and all set to experience the joy of making 37%+ APY on Polysynth and DeFi overall. The process is very similar for other centralised exchanges as well.
If you have any more doubts, ask us on Discord or Telegram, we will be happy to help.