How To Deposit Funds
Step 1: Get SOL or USDC to Deposit
To start trading on Drift, you’ll first need to acquire SOL, the native token of the Solana blockchain for transactions. To get SOL you can do one of the following:
- Acquire SOL on an exchange such as Binance, Coinbase or Kraken and then send it to your Solana wallet
- Send SOL from another wallet to your Solana wallet
- Bridge SOL from another blockchain to your Solana wallet
After confirming you have some SOL for transactions, you’ll have to deposit some funds into Drift before you can place your first trade.
Currently, Drift accepts USDC and SOL as collateral.
If you only have SOL in your wallet, you can directly swap it for USDC in your wallet or use a dApp like Jupiter.
Step 2: Connect Your Wallet
Once you have acquired some assets, navigate to app.drift.trade
Connect your wallet by clicking the “Connect Wallet” button in the top right corner.
When first connecting to Drift, you will be asked to sign a confirmation message in your wallet. Also, you will need to pay a small one-time fee of 0.035 SOL to set up a trading account.
Step 3: Deposit Funds
Once you have connected your wallet, select the “Deposit/Withdraw” button in the top right corner of your screen.
Step 4: Select Collateral
Choose any one of the Drift-supported cross-collateral tokens, USDC or SOL for your deposit.
Any one of these assets counts towards trading collateral/margin, although different weightings apply to each asset to account for their respective volatilities.
You can find more information on this here.
Step 5: Specify Amount
Once you have selected the collateral type you wish to deposit, you can enter the amount you want to deposit.
Step 6: Confirm Deposit
Next, confirm your deposit by signing the corresponding transaction in your wallet.
How To Withdraw Funds
Step 1: Select Withdrawal
Navigate to app.drift.trade, connect your wallet and select the “Deposit/Withdraw” button in the top right corner.
Step 2: Select Collateral
Select any one of the Drift-supported cross-collateral tokens you deposited previously.
Step 3: Enter Amount
Enter the amount of the selected asset you want to withdraw.
Note that the withdrawal amount you enter cannot exceed your account’s available balance.
Step 4: Confirm Withdrawal
Next, you will be able to withdraw the amount after you sign the corresponding transaction in your wallet.