Wrapped Ethereum (WETH) is a “wrapped” version of Ethereum (ETC). 1 WETH = 1 ETH since WETH is pegged to the price of Ethereum. It allows ETH to be traded with other ERC-20 tokens and be used on various decentralized apps.
Zengo offers a secure wallet for Wrapped Ethereum (WETH), which will allow you to buy, receive, and store your funds with ease, right on your smartphone. Whether you’re a crypto expert or a complete beginner, using Zengo’s wallet couldn’t be simpler.
With Zengo’s secure wallet for Wrapped Ethereum, you’ll have fast and reliable access to crypto investing, reporting, and trading in your pocket. What’s more, our intuitive mobile application guarantees 24/7 support from a human being.
Here are just a few of the features offered by the Zengo WETH wallet:
With Zengo’s intelligent reporting features, you can track your Wrapped Ethereum’s performance directly in the app. Gone are the days of constantly refreshing crypto sites to track how your coin is doing in the market.
Zengo’s mobile app was designed with accessibility and responsiveness in mind. By simply tapping or swiping on any cryptocurrency, you can input the destination address to send Wrapped Ethereum. Alternatively, swipe to the other side if you’re looking to receive coins directly into your Zengo wallet!
Once you’ve registered a payment method, you will be able to purchase cryptocurrencies directly in your app, with immediate access to an overview of all your stored crypto assets.
Zengo allows you to buy cryptocurrencies with Fiat currency (“standard” money like the US Dollar, Pound sterling, or the Euro). So, you won’t have to sacrifice your other cryptocurrencies to invest in WETH.
Zengo’s wallet supports all major credit cards, including Visa and Mastercard. In addition, you can use mobile payment apps, SEPA, and Swift transfers, with there being a minimum amount of transfers applicable when using bank transfers (EU and UK only).
Do you intend to invest for the long term? Zengo allows you to hold your WETH tokens safely for an extended period of time so you can benefit from their long-term value growth.
Using Zengo’s app you can trade your WETH tokens for other supported cryptocurrencies such as Bitcoin, Dogecoin, Voyager, Polygon, Tether, and Shiba Inu.
With Zengo, instead of just holding your funds you can earn a passive income using our savings service. Bear in mind that new tokens are added regularly, so keep checking.
Here’s a quick rundown of some facts about WETH, including the meaning of “wrapped”:
Wrapped Ethereum, also known as WETH for short, is a “wrapped” version of Ethereum. A wrapped coin is a tokenized version of a coin, and its value is tied (or “pegged”) to the value of the original cryptocurrency.
Wrapped Ethereum was created according to the new ERC-20 standards to allow greater interoperability between different blockchains, unlike the original Ethereum coin. Wrapping allows the seamless exchange between ERC-20 tokens and Ether without the need for third-party.
Wrapped Ethereum was launched into the market in 2017. It was the product of several Ethereum projects run by 0x Labs. The intent was to create a standardized token with the best-possible security across applications so that it can be traded without risks, like errors during transactions.
Since Wrapped Ethereum is a tokenized, wrapped ERC-20 version of Ether, it runs on the Ethereum blockchain. ERC-20 is essentially a technical standard developed after the release of ETH to allow tokens created on the Ethereum blockchain to interact and communicate with each other.
WETH follows the ERC-20 standard, while ETH doesn’t. Also, WETH was created since ETH wasn’t feasible to be used for many DeFi applications. Hence, wrapping ETH tokens in an ERC-20 standard means they can be used with DApps.
Whether you’re an experienced crypto trader or looking for a secure, easy-to-use crypto wallet, Zengo offers a flawless experience. You can be up and running in a few minutes; simply download Zengo from the Android or iOS app stores and benefit from:
Gain access to your crypto coins or tokens at any time, with 24/7 customer support from real human beings. No more using multiple apps and websites to track your crypto performance. See everything in a handy dashboard in real-time.
Zengo’s technology utilizes threshold key signatures (TSS), three-factor authentication, multi-party computation (MPC), and of course, biometric authentication with facial recognition. Zengo takes security very seriously and puts obstacles in the path of any malicious actors who seek to steal your assets.
Unlike custodial crypto wallets that have access to your private keys, Zengo puts all of the power in the palm of your hand. You’ll retain complete control over your crypto assets, meaning that you can choose exactly when you want to send, receive, buy or sell assets. In a market that’s as volatile as this, you need fast and unencumbered access to your portfolio.
Lost your phone? No problem. We back up your crypto, ensuring that you can always gain access to your portfolio. By authenticating you with biometrics instead of private keys, you’ll always be able to recover your funds, even if you can’t find your smartphone.
Got a crypto emergency? Our support team works round the clock to ensure you’ll always be able to speak to another human being when needed.
If you still have questions about WETH, Zengo, or other cryptocurrencies, check out our frequently asked questions.
Even for newcomers to cryptocurrency, the Zengo app is user-friendly and easy to navigate. Once you’ve done some reading on Wrapped Ethereum and the other tokens and coins available, you can download the Zengo app to start trading WETH. You’ll even receive some free Bitcoin when you make your first purchase!
To ensure that your Wrapped Ethereum is safe, you need to store it in a digital wallet. While some users prefer to use cold-storage wallets (that aren’t internet-connected), they’re expensive and can be challenging to use. On the other hand, Zengo offers excellent security through an easy-to-use interface.
A crypto wallet acts as proof of ownership of your cryptocurrencies. On the front end, the user interface makes everything straightforward for you, while advanced security tech works hard to keep your tokens safe beneath the surface.
The bottom line is that you’re responsible for ensuring the security of your own cryptocurrency. Crypto is not yet regulated or protected in the same way as funds on your bank account, so you’ll need a super-secure digital wallet to protect your assets against hackers.
You’ll have this by default simply by creating a Zengo wallet account. Within the mobile app, tap on the WETH asset. Then you’ll be able to see your WETH wallet address. It’s the long, alphanumeric string below the QR code.
If your friends sign up for Zengo, you’ll be able to gift Wrapped Ethereum through the app. What’s more, if they sign up using your referral code, they’ll receive $10 worth of Bitcoin for free when they spend a minimum of $200 within 30 days of their initial purchase. You’ll also receive a referral bonus.
It’s fast and simple to set up a Wrapped Ethereum wallet. All you’ll need to do is download and install the Zengo mobile app, then follow the below steps:
With Zengo, sending WETH can be done in just a few simple steps. Open your Zengo application, find the WETH asset and tap on it, enter the destination address, and then hit Send.
If somebody sends WETH to your Zengo wallet’s address, you’ll see a notification. To receive your WETH, simply open the Zengo app, swipe the WETH asset, or tap on it, then hit the Receive button. You’ll be notified again upon receipt.