How to mine ETH on Ethermine and get paid in $Matic (Polygon)

Why Polygon

• Polygon allows miners to receive payouts at a 0.005 ETH threshold, up to once every 24 hours
• Payouts on the Polygon network are free, and paid by the pool
• Polygon, by nature is a DeFi (Decentralized Finance) ecosystem with many native investment projects that users can stake their Ethereum and other tokens to multiply their holdings (see this list from DeFi Prime to get started)
• As a Layer 2 network, swapping and moving coins is extremely cheap (approximately 100 to 1,000 times cheaper than Ethereum Mainnet) within the L2 and to supporting exchanges/wallets

Ok, how do I do it?

• Download Metamask
• Add the Polygon network to Metamask by going to Chainlist.org
• Copy the $Matic wallet address you find in Metamask
• Go to Ethermine.org
• Use your $Matic Wallet address
• You will get paid in $wETH on the Polygon network to your Metamask
• Go to Metamask
• Switch to Polygon network in Metamask
• Click on $wETH
• Click on SWAP
• Select all
• Select $Matic (or other coin) from the drop-down list
• Continue
• Confirm

Thats it!

Important links

• Polygon Network – The official site of the Polygon project
• DeFi Prime – Decent (though not complete) list of DeFi and DEX projects on the Polygon Network
• Polygon Wallet – Where your coins on Polygon live; even if you use Metamask or Walletconnect to access Polygon, your actual tokens are found here
• Liquidation Guide #1 – A video guide to moving coins directly off Polygon for pennies to Polygon supporting exchanges and wallets, with a frequently updated list of exchanges and their supported coins
• Liquidation Guide #2 – A video guide to moving coins off Polygon for pennies to any exchange or wallet that supports TRC-20 or XLM transactions. Works with Coinbase and Kraken.
• Liquidation Guide #3 – A video guide to moving ETH directly off Polygon, to both hold ETH as a token, and to not incur any taxable events
• The Bridge –  An official Polygon application that supports the direct transaction of Ethereum on the Layer 2 (which is Wrapped, known as $wETH) to the Ethereum Mainnet. It is extraordinarily expensive. Like, $50-$250 expensive, and it does not care how much $wETH you are trying to move. The Bridge does not feel. It does not care. It only feeds. The Bridge is a viable option for moving coins off Polygon, however you are paying for the convenience.
• Polygon Official Gasless Swap Tool – A tool that allows users to swap to $MATIC from many popular tokens, without requiring $MATIC to begin with. Demonstrated here: https://www.youtube.com/watch?v=EmesDS8J-rs
• Metamask – The recommended access Gateway and Authorization tool for Polygon. It works with all DeFi and DEX sites on the Polygon Network, and can be linked directly with Ethermine.org as well.
• WalletConnect – The alternative to Metamask, WalletConnect allows you to connect any wallet that you own the private keys to (read: non-exchange wallet), and utilize various dApps (Decentralized Applications on the Polygon Network)
• Ethermine.org Discord – If you have any questions about this guide or Polygon, join us in Discord to get help and advice, or just to chat about crypto mining in general

If you are moving small amounts of Ethereum (less than $500 USD worth), it is recommended that you use the above Liquidation Guides rather than The Bridge to accomplish these transactions.

Q1: Will I receive the $MATIC token as a payout if I choose the Polygon payout method?

A1: No, you will still receive ETH, just on the Polygon Network. As noted earlier, Ethereum on Polygon is “wrapped”, and noted as $wETH.

Q2: What are the requirements/What do I need to start?

A2: It is recommended to start clean by creating a Metamask account and to begin mining into the wallet address provided. This is the most efficient method. You can also use both Metamask and WalletConnect instead to connect to your existing Ethereum wallet, however in both instances you will need your Private Keys to do so. This is not an option for those mining directly to an Exchange wallet.

 
Q3: Can I send my funds to an Exchange if I receive them on the Polygon network?

A3: Some exchanges support direct Polygon Network transactions with certain coins, but it’s not typically as straight forward as directly sending them from one place to another, since they are separate networks. See Liquidation Guide #1 for a detailed overview of this process, and an updated list in the video description of what exchange and coins are currently supported.  

  
Please do NOT send $wETH directly to an exchange from the Polygon network unless that exchange supports Polygon deposits for that coin. If it does not support Polygon Network for that coin, your funds will be lost.

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