How to deposit ETH/DAI on Matic ?

This tutorial explains the easiest way to get funds on https://matic.opensea.io/ so that you can start buying NFT's without any hassles. Funds are needed to participate in trading on https://matic.opensea.io/. Sell orders can be placed if you have NFT token balance in the NFT categories currently supported on the platform. For buying the NFT's, you need to have sufficient DAI/WETH balance on Matic network. These are the only two ERC20 tokens that are currently supported on https://matic.opensea.io/.

For those who are vey new to L2, its important to understand that Matic is a sidechain of Ethereum which is built to enhance scalability. It takes very less transaction confirmation time and costs very less fees for performing transactions on Matic. But if your funds pre-exist on Ethereum, you have to bring them to Matic using the PoS bridge that Matic offers.

Getting these tokens on the Matic chain can be done in different ways.

  1. Deposit ETH/DAI from Ethereum to Matic using the PoS bridge on wallet.matic.network

    You can log in to https://wallet.matic.network using the account in which you have sufficient balance of ETH/DAI. If you deposit ETH, you will recieve WETH on the Matic chain. It's call pos-WETH on the Maitc chain and it has the contract address - 0x7ceB23fD6bC0adD59E62ac25578270cFf1b9f619. Similarly for pos-DAI, the contract address is 0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063

This is how the wallet dashboard looks like when you visit https://wallet.matic.network

Clicking on deposit button besides the token you want to deposit, will take you to the following page.

Depositing ETH

Depositing DAI

If you have sufficient balance of ETH/DAI on Ethereum, then you should be able to deposit. It is recommended to follow this guide to understand more on deposits

https://blog.matic.network/deposits-and-withdrawals-on-pos-bridge/

"PLEASE ENSURE THAT YOU USE THE PoS BRIDGE WHEN YOU DEPOSIT ETH/DAI."

Its very important to follow this because matic.opensea.io only supports the pos version of DAI/ETH. Depositing ETH/DAI using the Plasma bridge will result in plasma-WETH and plasma-DAI getting deposited in to your account and you will not be able to use it for trading on matic.opnsea.io. Once you complete the deposit process, it will take about 7-8 minutes for your deposit to get completed. You should be able to track the real time status of your deposit from the activity header component that you can see on the right hand side of the navigation bar. Once the deposit is completed, you can see the balance updated on the wallet dashboard as well as under the "My Account" section of matic.opensea.io as shown below.

  1. Get funds directly on Matic from Transak.

This is the URL that you should visit fo purchasing tokens on Transak https://global.transak.com/

You can choose the network as Matic Network and then choose DAI/WETH from the token list and then go ahead with the steps in the transak application.

  1. Get funds from another account on Matic

If you have sufficient balance of these tokens on another address on Matic, then you can transfer these tokens from that address to the address with which you are currently logged in to matic.opensea.io