How to convert ETH into WETH?
You have ETH on your wallet? That's great! Now we will show you how to turn your ETH into "ETH on Polygon" (for most services referred to WETH, wrapped ETH).
Last updated
You have ETH on your wallet? That's great! Now we will show you how to turn your ETH into "ETH on Polygon" (for most services referred to WETH, wrapped ETH).
Last updated
Now we will need to begin the process of converting that ETH into WETH. But to do that, we need to set up Matic Mainnet first. Because WETH are ETH on the Polygon Network.
To open your MetaMask account, you need to click on the fox icon in the top right corner of your browser. If you can't see it there, click on the jigsaw icon to open a popup. You will find MetaMask in there. You can pin it to your taskbar via this menu if you want to.
At the top, there is a greenish circle and next to it it shows Ethereum Mainnet. This is the Network that your transactions are currently running through. Ethereum Mainnet is very popular and there is a lot you can do on it, but currently it is also quite expensive to use. Every transaction has a gas fee, and a single transaction can cost you as much as $200 to perform sometimes.
So instead we will use the Matic Mainnet, which is much cheaper, with gas fees as low as $0.01! We use this so you don't have to worry about high gas fees.
So in order to set up Matic Mainnet, first click where it says Ethereum Mainnet. Then click on "Add Network".
After this you will see a form. Enter the information below:
Field: Data
Network Name: Matic Mainnet
New RPC URL: https://polygon-rpc.com
Chain ID: 137
Currency Symbol (optional): MATIC
Block Explorer URL(optional): https://polygonscan.com/
Double check the entries and click "save".
Congrats! Now you have the Matic Mannet set up.
Now it's time to get WETH.
With Matic set up, you now need to add the WETH token to it. WETH (Wrapped ETH) is what allows you to do very cheap transactions on Matic.
With the Matic Mainnet network selected (shown at the top of your MetaMask window), click on "Add Token".
Now copy and paste the following into the field Token Contract Address:
0x7ceB23fD6bC0adD59E62ac25578270cFf1b9f619
That's the smart contract address for WETH. Click "Next".
Confirm by clicking on "Add Tokens".
Great, now you have WETH on Matic and this is exactly what you need! ETH can easily be converted to WETH. You can only do this on certain sites. We will use opensea.io here as an example. At opensea you can convert the ETH to WETH easily. You need to login with your MetaMask. In the top right corner, click on the icon that looks like two rectangles, then click on "MetaMask".
A new window will open asking you which account you want to login with. If you just have created MetaMask, only have one. Ensure the tickbox is checked. Then click "Next".
The next window is a confirmation that you want to connect opensea to this account. Click Connect.
You are now logged in to opensea and can see a sidebar that displays how much ETH you currently have. Next you need to bridge your ETH to Polygon.
What is bridging? Bridging is the method to convert tokens from one blockchain to another. We're going to bridge your ETH into ETH on Polygon.
What is Polygon? Polygon is MATIC. It's the network we set up in your MetaMask earlier and what we'll be using to do our transactions with low gas fees.
So by bridging your ETH to Polygon's ETH, you won't pay any gas fees when minting or biding. To perform the bridge, click on the vertical ellipsis next to the ETH amount.
In the popup click "Bridge to Polygon".
As a next step you must select how much of your ETH you want to convert. Enter the amount you would like to transfer, then click "Convert tokens".
After this you need to confirm the transaction. At this point you will need to pay a gas fee. You just need to pay a gas fee once to convert your ETH to ETH on Polygon. Then with that ETH on Polygon you can basically use our service with close to zero gas fee. So you are saving quite a lot on gas fees in the long run. 1 ETH = 1 ETH on Polygon. You can check the current Ethereum gas fees on etherscan.
Kindly wait a moment for the transaction to process and the "transaction complete" message to appear.
That's it! Whoo whoo, you made it! With ETH on Polygon you will be able to participate in the ALPHA PASS auctions! Btw. don't worry, the transaction can take up to 15 to 40 minutes to go through. The best way to confirm the transaction is complete is tp check on wallet.matic.network. You will need to login and connect with your MetaMask account, like you already did on opensea.
