Introduction
The rising cost of Ethereum gas fees has made it increasingly challenging for users to participate in blockchain transactions. As Ethereum remains the leading platform for decentralized applications, networks like Polygon and Solana have emerged as scalable, low-cost alternatives. Coinbase is simplifying cross-chain accessibility by enabling direct transfers on Polygon and Solana—starting with ETH, MATIC, and USDC on Polygon, and USDC on Solana.
👉 Explore seamless crypto transfers today
Why Multichain Support Matters
The High Cost of Ethereum Transactions
- Gas fees on Ethereum can exceed $10–$100 for basic transactions, limiting accessibility.
- Institutional inefficiencies: Bridging assets between chains involves multiple steps, delays, and fees.
The Rise of Alternative Networks
- Over 30% of DeFi’s Total Value Locked (TVL) now resides outside Ethereum (DeFiLlama).
- Polygon (a Layer 2 scaling solution) and Solana (a high-throughput blockchain) offer faster, cheaper transactions.
Coinbase’s Solution
- Direct fiat-to-crypto conversions for Polygon/Solana wallets.
- Unified balances for institutional traders across Ethereum, Polygon, and Solana via Coinbase Exchange.
How to Send and Receive Crypto on Polygon/Solana
For Individual Users (Coinbase App/Website)
- Choose a self-custody wallet (e.g., Coinbase Wallet) supporting Polygon/Solana.
- In Coinbase, tap ‘Pay’ → ‘Send’ and select the asset (ETH, MATIC, or USDC).
- Enter the recipient’s wallet address.
- Select the network (Polygon/Solana) before confirming.
👉 Start transferring crypto effortlessly
For Coinbase Wallet Users
- Latest app/extensions: Use Coinbase Pay to buy/transfer assets directly to Polygon/Solana.
- Older app versions: Navigate to Settings → ‘Buy or Transfer’ and select the network.
For Institutional Users (Coinbase Exchange)
- On exchange.coinbase.com, choose Withdraw.
- Select the asset and ‘Withdraw to Crypto Address’.
- Pick the network (Polygon/Solana) and enter the destination wallet.
- Confirm the withdrawal.
Benefits of Multichain Support
- Cost reduction: Avoid Ethereum’s high gas fees.
- Time savings: Skip bridging steps; fund wallets in minutes.
- Expanded access: Engage with dApps, DeFi, and NFTs across ecosystems.
Future Developments
Coinbase plans to:
- Add support for more tokens and networks.
- Enhance institutional tools for cross-chain settlements.
- Streamline fiat-to-crypto conversions for emerging chains.
FAQ
1. Which assets are supported on Polygon/Solana?
- Polygon: ETH, MATIC, USDC.
- Solana: USDC (initially).
2. Are there geographic restrictions?
Yes, network availability varies by jurisdiction (check local regulations).
3. Can I send crypto to the wrong network?
No—transactions are irreversible. Always verify the network and address.
4. How much cheaper are Polygon/Solana transactions?
Fees are typically **<$0.01**, compared to Ethereum’s $10+.
5. Will Coinbase add more networks?
Yes—expect support for additional Layer 2s and altchains.
6. Is Coinbase Wallet required?
No, but it’s optimized for multichain use. Any compatible wallet works.
Conclusion
Coinbase’s multichain integration removes barriers to web3 participation, offering faster, cheaper crypto transfers. Whether you’re trading, exploring DeFi, or collecting NFTs, Polygon and Solana provide scalable alternatives to Ethereum’s congestion.