Even though Bitcoin and Maker (MKR) are both cryptocurrencies, they have distinct differences and functionalities. To begin with, Bitcoin runs on its own blockchain, and many crypto enthusiasts refer to it as “digital gold.” Bitcoin uses a proof-of-work mechanism that features many nodes validating transfers for the security and accuracy of all deals. In contrast, Maker (MKR) is an Ethereum-based ERC-20 token that functions as a governance token that is used to run the DAI token, a stablecoin with a consistent $1 value. People who hold MKR tokens govern the DAI’s layout and confirm transfers, protecting the asset and keeping its price from shifting too far away from $1. People with more MKR have more control over the Maker platform and can support the production of Dai. 

To put it simply, it means you will be using Zengo’s trading feature to swap BTC for MKR tokens or the other way around, depending on the situation.

To complete your cryptocurrency trades, you’ll need a safe trading platform. Zengo is the best choice as it ensures your safety with every swap while also providing an intuitive design that can reduce the likelihood of human error. After you download, install, and set up your Zengo wallet app, you will be able to swap BTC for MKR easily. 

Yes, there are minimum trading amounts. However, please note that the required trading values between currencies will change based on market conditions and liquidity. You can learn more by logging into the Zengo wallet app and going to the trade screen to review current minimum trading limits. 

To learn more about Zengo’s minimum trading amounts, fees, and limits, click here.

The Zengo wallet app allows you to trade a wide variety of cryptocurrencies, such as USDC, USDT, ALPHA, XTZ, DOGE, SHIB, and more. These tokens, along with many others, can be easily swapped for Bitcoin and Maker.

Yes, you can definitely send your Bitcoin (BTC) and Maker (MKR) tokens to other wallets with Zengo, provided that the receiving wallet supports those digital assets. To do this, launch the Zengo app and navigate to the BTC or MKR asset. List the amount you intend to send and paste the recipient’s wallet address. Follow the on-screen instructions and then finalize the transfer by tapping on the “Send,” button, and your tokens will be transferred. Make sure you have enough tokens to cover any network charges.

On the main menu, you’ll find the history tab, which lists your trade data. The trade will first appear as “pending” and then “received” as soon as it has been completed. You will also get a push notification when the trade finishes.

Yes, without a doubt! Zengo is a non-custodial Web3-ready wallet that was created to ensure the safety of cryptocurrencies and NFTs. Our high-security standards ensure the safety of your funds, as only you have access to your private keys. Our robust security measures take advantage of MPC technology, 3-factor authentication, and Facial ID. 

Find out more about our security standards.

Yes, you can buy both BTC, MKR, and a variety of other cryptocurrencies from our trusted purchasing partners using Zengo’s onramp fiat gateway. As a first step, open the Zengo wallet app, tap on “Actions,” then tap on the “Buy” button and select either BTC or MKR. Several payment options are available, including Visa, MasterCard, Apple Pay, and bank wire transfers.

Here’s what you need to know about buying crypto with Zengo.