This article describes how to create a Ledger Polygon (MATIC) account in Ledger Live and explains the difference between Polygon and Ethereum.
How to create a Polygon (MATIC) account in Ledger Live
- Open Ledger Live.
- Connect and unlock your Ledger device.
- Navigate to the Accounts tab, click the Add account button, select Polygon (MATIC), and click Continue.
- Once a Polygon account is added, navigate to the Receive tab, select your Polygon account and click Continue.
Ledger Live and your Ledger device will display your Polygon address.
- Verify this address on your device and click Confirm.
This address can be used to deposit MATIC or ERC20 tokens.
Why does my Polygon account address look like my Ethereum account address?
You might have noticed that your Ledger Ethereum address and Ledger Polygon address look the same.
This is because the Ledger Ethereum and Polygon apps use the same cryptographic techniques to generate addresses. This is possible because Polygon is EVM-compatible and thus shares a lot of “digital DNA” with Ethereum .
A word of caution
- Though your Polygon and Ethereum addresses look identical, it’s important to note that they actually exist on two different network.
Are all ERC20 tokens supported by the Ledger Live app?
While it's possible to withdraw most crypto assets to your Ledger Polygon account in the form of ERC20 tokens, only a subset of all existing ERC20 tokens is currently supported by Ledger Live .
From the perspective of Ledger Live there are three types of ERC20 tokens:
- Fully supported ERC20 tokens will show in Ledger Live and display a balance amount (the number of tokens in that balance) and a balance value (how much the balance is worth) denominated in fiat currency (EUR, USD, RMB, etc).
- Partially supported ERC20 tokens will display a balance amount but not a balance value.
- Non-supported ERC20 tokens will not show in Ledger Live at all. They will not be reflected in your total portfolio value and will not create a transaction history in Ledger Live. You can submit non-supported token details here, our team will review the token and add it for listing in the future releases of Ledger Live.
I think I have sent unsupported ERC20 tokens to my Ledger Polygon address!
- Don't worry, your tokens are safe.
- You should be able to see your tokens by pasting your Ledger Polygon address into Polygonscan then searching the drop-down menu located next to the Token field.
- To access your non-supported ERC20 balance, however, you’ll need to use your Ledger device with a third-party app called Metamask.
- A detailed tutorial is available in the next section.
Withdraw crypto to my Ledger Polygon account from exchange (on Binance for example)
- In your Binance exchange account, go to the Withdraw Crypto section and select the coin you wish to withdraw.
- In the address field, paste your Ledger Polygon address, make sure that the Polygon (MATIC) network is selected, and complete the withdrawal.
ERC20 or Polygon (MATIC)?
- There is a difference between the ERC20 and the Polygon network.
- The ERC20 network refers to the Ethereum blockchain, which is a slightly different network from Polygon (MATIC). You can learn more about these differences in this document.
- When withdrawing assets from an exchange to your Ledger Polygon address, make sure to select the Polygon (MATIC) network in order to see the assets on Polygon account.
Access my non-supported ERC20 token balance
This tutorial will show you how to use Metamask to access your Ledger Polygon account and manually add your ERC20 tokens.
- Close Ledger Live.
- Download and install the Metamask extension on your web browser.
- Once installed in your browser, create a new Metamask wallet by following these instructions.
Connect your Metamask wallet to the Polygon network using this tutorial.
- Connect your Ledger device and open the Polygon app on your Ledger device.
Connect your Ledger device to Metamask using this tutorial in order to find your Ledger Polygon account in Metamask.
Add your ERC20 token to Metamask as a custom token by following this tutorial.
I can't see my Polygon (MATIC) account in Ledger Live
The Polygon (MATIC) account you created using Metamask and your Ledger Ethereum app or Polygon app might not appear in Ledger Live.
Check this article to learn more and solve this problem.
What are the main differences between Polygon and Ethereum?
Although Polygon and Ethereum share a lot of similarities, there are also important differences between the two projects.
|What Ledger app should I use?||Ledger Polygon app||Ledger Ethereum app|
|How are transaction fees paid?||Always in MATIC||Always in ETH|
|Are tokens supported?||Yes, Polygon supports ERC20 tokens and ERC721 (NFT) tokens.||Yes, Ethereum supports ERC20 tokens and ERC721 (NFT) tokens.|
|What tool can I use to track my transactions?||Polygonscan||Etherscan|
|What coins and tokens can I keep in my Ledger account?||You can keep MATIC and ERC20 tokens in a Ledger Polygon account||You can keep ETH and ERC20 tokens in a Ledger Ethereum account|