Swapping Bitcoin (BTC) to USD Coin (USDC) is a simple and straightforward process with ZenGo. Within a few moments, you can securely swap your BTC for USDC or vice versa.Â
Bitcoin (BTC) has evolved into, by far, the most popular digital currency in history, attracting investors from all around the globe. It was originally introduced in October of 2008 by Satoshi Nakamoto, an anonymous person or group believed to be the creator of Bitcoin. It is considered to be a decentralized digital currency that is free of any regulation or control by governments or banks and is capable of being sent from one end user to another via its own network without the need for any intermediaries between users. Bitcoin runs on the Bitcoin blockchain, which is a network of connected data blocks that make it possible to record and track individual transactions. It uses a proof-of-work algorithm for the purpose of validating new coins. Bitcoin is a mineable form of crypto, which means that new Bitcoins can be mined by working through complex math problems; however, it requires quite a lot of computing power. Furthermore, Bitcoin is also an open-source, public-domain cryptocurrency, which implies that anyone can become involved with it.
USD Coin (USDC) is an Ethereum ERC-20 token that is pegged to the value of the United States Dollar. This means that each USDC token should always be equivalent to $1, and for this reason, many investors regard it as a tokenized or digitalized dollar. Due to its stability, crypto traders label USDC as a “stablecoin.” The USDC token is managed through a consortium known as Centre, created by Circle, and it also has members from numerous prominent cryptocurrency businesses, including Coinbase and the Bitcoin mining company Bitmain. Many crypto traders consider USDC to be somewhat similar to Tether (USDT) and Dai (DAI), which are also well-known stablecoins.
To swap Bitcoin for USD Coin via ZenGo, you must first download the ZenGo app from Google Play or the Apple App Store. Install the app, then proceed with identity verification to establish 3-factor authentication.
Once your ZenGo account has been set up, follow the steps below to swap your BTC to USDC:
Open your Zengo app and tap on the “Actions” button on the main menu.
Select “Trade.”
Now select BTC and USDC, then input the amount you wish to swap.
After ensuring all transaction details are accurate, tap “Confirm.” Zengo will notify you when the transaction has been completed successfully.
The ZenGo wallet app enables users to swap BTC for USDC and visa versa in a secure and convenient way. The following are just a few of the reasons why so many people rely on ZenGo to store their crypto and NFTs:
The Zengo wallet allows you to buy, sell, trade, send, and receive digital assets, including Bitcoin, Ethereum, Dogecoin, and Polygon. Furthermore, Zengo supports Web3, which allows you to interact with a variety of decentralized applications (Dapps) with its WalletConnect tool.
Zengo offers high security and protection through MPC technology, biometrics, and 3-factor authentication. Moreover, Zengo’s Web3 firewall ensures additional security when interacting with various Web3 Dapps. Find out more about Zengo’s security.
As a non-custodial wallet, Zengo’s wallet gives you complete control over your private keys. Additionally, the app was designed with ease of use in mind, reducing the chance of errors during crypto transfers.
With Zengo, users can trade digital assets at fair and competitive rates. In addition, Zengo does not charge its users for sending and receiving cryptocurrencies, although network fees still apply. As a Zengo user, you can set your own gas fees to improve the experience. Based on your need, you can pay more for a faster transaction or pay less and wait longer. For more information on our custom network fees, click here.
Zengo has a keyless biometric recovery system, which allows you to access your funds even if you lose your mobile device or accidentally remove the app. You can simply download the Zengo app on a new device and sign in again using your facial ID.
Zengo’s dedicated support team is available 24/7, even on weekends and holidays. For any questions or assistance, you can easily call or email the Zengo team. As an alternative, you can refer to our Online Help Center and find commonly asked questions.
Cryptocurrency trading can be exciting, but it also carries risks due to the unpredictable nature of the market. While Zengo offers a safe and secure environment for storing digital assets and allows you to engage with Web3 Dapps, we do not offer financial advice. If you plan to invest in cryptocurrencies or NFTs, make sure you do your research.
In case you still have questions regarding swapping BTC to USDC with ZenGo, please be sure to check the FAQ section below.
USDC and Bitcoin are both digital assets that can be traded and used as a form of payment, although they work differently and are quite different in nature. USD Coin (USDC), as the name implies, is an Ethereum ERC-20 cryptocurrency token pegged to the US Dollar. Its value is expected to remain the same as one dollar, hence the term stablecoin. This indicates that USD Coin is not as volatile as most other cryptocurrencies and is somewhat similar to Dai (DAI) and Tether (USDT), two other well-known stablecoins. Bitcoin (BTC), in contrast, is not a stablecoin and is subject to high volatility, meaning its price per coin fluctuates significantly on a daily basis. Bitcoin runs on its own blockchain, can be mined, and is considered the first successful cryptocurrency. It was originally designed to challenge fiat currencies and can be used to make payments for a wide range of goods and services all over the world, making it, by far, the most popular cryptocurrency to date.Â
ZenGo enables you to swap Bitcoin (BTC) for USD Coin (USDC) and the other way around using its integrated swapping functionality. As an example, if you have confidence in the stability of USDC, you could decide to trade $100 worth of Bitcoin for $100 worth of USD Coin to reduce your exposure to volatility while still holding your money within the cryptocurrency market without cashing out.Â
In order to trade and store both BTC and USDC tokens, you will need a reliable and secure cryptocurrency wallet. The ZenGo wallet fulfills these criteria and is the most secure and convenient solution to trade Bitcoin for USDC. Once your ZenGo wallet is set up, you can trade Bitcoin, Ethereum, and other cryptocurrencies such as SHIB, LINK, and Tezos against low, competitive fees.
Yes, however, the minimal trading amounts between the two digital assets will differ based on the market condition and the actual assets being traded. We suggest logging in to the ZenGo wallet app to see the latest minimum and maximum limits. If you would like to learn more about ZenGo’s fees and limits, click here.
Through the ZenGo wallet app, it is possible to swap Bitcoin and USD Coin for an extensive range of digital currencies, such as ETH, USDT, LINK, DOGE, MATIC, SHIB, XTZ, ALPHA, and MANA. The availability of specific pairs is subject to current market conditions and liquidity, which can be verified by selecting the specific tokens within the app.
Yes, ZenGo does not impose any restrictions regarding sending supported cryptocurrencies to external wallets. Simply log into your ZenGo app and navigate to either Bitcoin or USD Coin from the home screen. Select the token you would like to send, tap on “Actions,” then on “Send,” specify the amount, enter the destination address, and then follow the instructions. Make sure you don’t forget to cover the network gas fees.
Your Bitcoin to USD Coin trade is finalized once the trade status changes from “Trade Pending” to “Trade Received” within the transaction history screen of the ZenGo app. Moreover, you will receive a notification after the process has been completed.
Yes, you can purchase both BTC and USDC through ZenGo. To do so, open your ZenGo app and tap the “Actions” button, then tap on “Buy” and choose the desired token. With ZenGo’s fiat-to-crypto on-ramp gateway, you have access to a large number of tokens, and you can purchase them with fiat currency using payment methods such as MasterCard, Visa, Apple Pay, and bank wire transfers.
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