Swapping USD Coin (USDC) for Chainlink (LINK) with Zengo is a safe and secure process. Using this simple guide, you will learn the steps necessary to convert your USDC for LINK tokens or vice versa.
USD Coin (USDC) is a stablecoin that runs on Ethereum as an ERC-20 token; however, it is also available on other blockchain platforms like Polygon, Algorand, and Stellar. It was launched in the year 2018 by Circle’s Jeremy Allaire and Sean Neville, with notable backing from Coinbase as part of their co-founding of the CENTRE Consortium. The USDC stablecoin adheres to a 1:1 peg with the US dollar, allowing holders to transact digitally while maintaining a value equivalent to fiat currency. USDC is often compared with other well-known stablecoins like DAI, Tether (USDT), and TrueUSD (TUSD). Its strong ties to Coinbase, along with its extensive acceptance across a variety of Decentralized Finance (DeFi) platforms, underline its pivotal position as a stablecoin in the cryptocurrency domain.
Chainlink (LINK) is a utility token operating on the Ethereum blockchain. The project was developed by Sergey Nazarov and Steve Ellis, and while the foundational ideas behind Chainlink have been in development for some years, its whitepaper was released in 2017. Chainlink facilitates data exchange between smart contracts and real-world data, enabling interactions with decentralized applications (Dapps). Essentially, Chainlink serves as a decentralized oracle network that bridges the gap between blockchains and off-chain information. In this decentralized network, Ethereum smart contracts can securely connect to APIs, established payment systems, external data sources, and more, enhancing their functionality and use cases.
Zengo offers its users a safe and secure platform for trading USDC for LINK. Start by downloading the Zengo app from Google Play or the Apple App Store. You can begin trading once you have set up an account and completed the onboarding process.
After setting up your Zengo account, go through the following steps to trade your USDC for LINK:
Open your Zengo app and choose the “Actions” button on the main menu.
Click on “Trade.”
Select the USDC and LINK pair (or vice versa) and type the amount you want to trade.
Take a moment to review all the transaction details, and press “Confirm.” Once the trade is complete, you will receive a notification from Zengo.
With Zengo, you can trade USDC for LINK tokens securely and efficiently. The following are some of the reasons why so many users choose Zengo as their crypto and NFT wallet:
With Zengo’s wallet, you can hold, trade, buy, sell, send, and receive a variety of digital assets, including but not limited to Bitcoin, Ethereum, Dogecoin, and Polygon. Moreover, Zengo is a Web3-ready wallet, which means it comes with a WalletConnect functionality that allows you to access a variety of decentralized applications (Dapps).
To secure your investments, our platform provides you with the highest level of protection possible by utilizing state-of-the-art MPC technology, biometrics, and 3-factor authentication. Additionally, Zengo’s Web3 firewall keeps you safe when interacting with various Web3 Dapps. Learn more about Zengo’s security standards.
Zengo is a non-custodial wallet that gives you complete control over your private keys, meaning you are the only one with access to your Crypto and NFTs. Moreover, Zengo’s highly intuitive user interface has been designed to reduce human error when it comes to managing and trading crypto assets.
With Zengo, you can trade a wide range of digital assets at fair and competitive rates. In addition, Zengo does not charge any transaction fees for sending or receiving cryptocurrencies; however, gas fees may still apply. Additionally, there is an option of choosing the amount of gas you will pay for each transaction. You can either pay less and wait longer or pay more and complete the transaction faster. You can find out more about our custom network fees here.
Even if you lose your phone or accidentally delete the Zengo app, you can easily regain access to your account thanks to Zengo’s smart recovery system that relies on biometrics. So, to regain full access, all you have to do is simply reinstall the Zengo app on your new device and log in using your facial ID.
In addition to the excitement and potential for profit that come with cryptocurrency trading, there are also risks to be aware of. The crypto market is mostly unregulated, and its prices fluctuate rapidly. Despite the fact that the Zengo wallet app provides a safe and secure platform for storing your digital assets and allows you to interact with a variety of Web3 Dapps, it does not offer any form of financial advice. So, before investing in crypto or NFTs, make sure you do your research.
If you have any questions about trading USDC for LINK using Zengo, please refer to our FAQ below.
USD Coin (USDC) and Chainlink (LINK) have distinct functions and purposes within the cryptocurrency landscape. USDC is a stablecoin designed to maintain a 1:1 peg with the US dollar. Every USDC token is backed by an equivalent amount of US dollars held in reserve, ensuring its value remains stable and mirrors that of the fiat currency. In contrast, Chainlink is a decentralized oracle network. Its primary function is to securely connect smart contracts with real-world data, APIs, and various payment systems. So, while USDC focuses on providing stability in the volatile crypto market, Chainlink addresses the challenge of integrating external data sources into blockchain-based applications.
Trading cryptocurrencies with Zengo simply means that you take advantage of Zengo’s integrated crypto-swapping functionality to trade your USDC tokens for LINK tokens or vice versa.
Yes, in order to trade USDC for LINK and other tokens, you have to have a secure crypto wallet such as Zengo, which supports both the trading process and the specific tokens that you intend to trade.
Yes, USD Coin and Chainlink have minimum trading amounts, but the amounts vary based on market conditions. To view the latest limit data, go to the Zengo app and select the pair you wish to trade. Additionally, you can click here to find out more about Zengo’s fees and limits.
With Zengo, you can trade USD Coin, Chainlink, and a wide selection of other cryptocurrencies, such as ETH, DOGE, XTZ, SAND, and VGX. However, depending on market conditions, certain pairs may be unavailable. To see the availability, click “Actions,” then tap “Trade,” and choose the two currencies you want to trade in the Zengo app.
Yes, Zengo allows you to send cryptocurrencies to other wallets. To start, go to the Zengo app, choose the cryptocurrency you wish to send, click ” Actions,” select “Send,” and specify the amount and destination address. Proceed with your transfer by following the instructions on the screen.
As soon as your USDC to LINK trade is complete, you should receive a notification on your device. Also, in the app’s transaction history, your trade status will change from “Trade Pending” to “Trade Received” once the trade is completed.
Yes, Zengo’s fiat-to-crypto on-ramp allows users to buy both USDC and LINK. You can begin the purchase process by launching the Zengo app, clicking “Actions,” selecting “Buy,” then following the instructions to select your payment partner and desired payment option. You can choose from a variety of payment options, including Visa, MasterCard, Apple Pay, or bank wire transfers.
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