ETH to DAI - Swap Ethereum to DAI

ETH to DAI

Ether for DAI whenever you want without making any mistakes with the revolutionary Web3-ready Zengo wallet app.

Ethereum (ETH) is a decentralized and open-source blockchain that supports smart contracts. Ether (ETH) is the native cryptocurrency of the platform, which is used to pay transaction fees or gas fees. Ethereum is the second biggest cryptocurrency by market capitalization and was founded by Vitalik Buterin in 2013. As the Ethereum network supports smart contracts, many decentralized finance and other applications are built on its solid foundation. 

DAI, formerly known as Sai or (SAI) is an ERC-20 token on the Ethereum blockchain whose value is kept close to one United States Dollar (USD) through the use of smart contracts and decentralized finance. For this reason, DAI is referred to as a “stablecoin.” It isn’t as volatile as many other cryptocurrencies, and its counterpart, MKR, acts as the governance token of the makerDAO decentralized organization based on Ethereum that allows users to lend and borrow cryptocurrencies without any third-party intermediaries or middlemen.

How to Trade Ether for DAI With Zengo?

To trade Ethereum for DAI or the other way around, you will first need to download and install the Zengo mobile app from the Google Play or Apple App Store and finish the onboarding process. 

Once you’ve set up your Zengo wallet app accordingly, simply follow the steps below to begin swapping Ether for DAI tokens.

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Step 1​:

Open your Zengo app and tap on the “Actions” button on the main menu.

Step 2:

Select “Trade.”

Step 3:

Select Ethereum and DAI from the trade window and specify the number of tokens you wish to swap for one another.

Step 4:

After ensuring all transaction details are accurate, tap “Confirm.” Zengo will notify you when the transaction has been completed successfully.

Why Zengo is the Best Non-Custodial Crypto Wallet to Swap Ethereum for DAI

Zengo makes swapping Ether for DAI safe and as easy as possible with minimal room for human error. Swap Ethereum for DAI wherever you are, whenever you want, just like thousands of other satisfied Zengo users. Our key features are:

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Endless Possibilities

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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.

Safety and Security

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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.

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Accessibility and Control

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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.

Fair Fees

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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.

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Effortless Recoverability

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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.

24/7 Live Customer Support

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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.

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Disclaimer

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.

FAQs About Swapping ETH to DAI

Zengo makes sure swapping ETH to DAI is as safe and easy as can be for its users. However, if you still require additional information about swapping Ethereum for DAI, we recommend checking out the FAQ section below. 

There are a number of differences between the two coins. Many cryptocurrency traders label ETH, or Ethereum, as long-term storage of value. It is also as volatile as most other cryptocurrencies. Additionally, Ether serves as a token that facilitates the Ethereum network. DAI, on the other hand, is a so-called “stablecoin” whose value is pegged to one United States Dollar and, therefore, isn’t that volatile. Additionally, the platform has another token called MKR. MKR is also an Ethereum-based token, but it is not a stablecoin. MKR acts as the governance token of the MakerDAO decentralized exchange, ensuring the safety and stability of the DAI-USD peg. 

This means that you trade your Ether (ETH) tokens for DAI or the other way around in the Zengo wallet app using its in-app swapping feature. 

Yes, if you want to start trading Ether or DAI or vice versa, you will definitely need a safe and secure cryptocurrency wallet like Zengo. The Zengo wallet allows you to swap Ethereum for DAI and the other way around whenever you want after downloading and installing the app. Additionally, Zengo also enables users to swap Bitcoin, Tether, Shiba Inu, and many other cryptocurrencies like Voyager, Alpha Finance, and The Sandbox at low and competitive fees.

Yes, there are minimum trading amounts between Ethereum and DAI within the Zengo wallet app. However, these minimum trading amounts vary based on current market conditions. We recommend logging in to the app to check out the latest minimum trading requirements between Ethereum and DAI before trying to swap one token for another.

For more information about Zengo’s minimum trading amounts, fees, and limits, click here.

With Zengo, you can trade your Ether and DAI tokens for Bitcoin, Shiba Inu, Dogecoin, Tezos, USD Coin, Tether, Polygon, Alpha Finance, The Sandbox, Decentraland, and many other digital assets. Simply log into the Zengo wallet app to check out the available options yourself. 

Yes, it is certainly possible to send Ethereum and DAI tokens to other crypto wallets from Zengo. To do this, simply launch the Zengo app, navigate to the “Actions” screen, tap on “Send,” then choose how many Ether or DAI tokens you want to send, then follow the on-screen instructions to paste the recipient address, then confirm your request to finalize the transaction. 

You know whether your Ethereum to DAI trade has been completed when the status of the trade changes from “Trade Pending” to “Trade Received” within the transaction history of the Zengo wallet app. 

Yes, of course! Why wouldn’t you want to store your Ethereum and DAI tokens in the safest and most secure digital asset wallet available on the market today that enables you access to Web3, decentralized finance, Daaps, and NFT marketplaces? Additionally, Zengo guarantees that only you can access the private keys to your digital asset holdings via its biometric facial recognition 3FA system.

Yes, you can definitely buy Ethereum and DAI tokens with Zengo. To purchase either of the two tokens, simply login to the app and tap the “Actions” button from within the main menu, followed by the “Buy” button. Now, specify the amount of Ether or DAI tokens you want to buy and confirm to finalize the transaction. Through Zengo, you can also purchase other cryptocurrencies with fiat currencies, such as Bitcoin, Dogecoin, Polygon, and Tezos. Available payment methods for our fiat onramp include Visa, MasterCard, Apple Pay, and Bank Wire Transfers.

For more information about how to buy crypto with Zengo, click here.

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