With Zengo, swapping USD Coin (USDC) for Shiba Inu (SHIB) is safe and secure. In this guide, we will walk you through the process of trading your USDC tokens for SHIB, or vice versa, with step-by-step instructions.
USD Coin (USDC) is a Stablecoin that runs primarily on the Ethereum blockchain, even though it is also accessible through other platforms like Polygon, Algorand, and Stellar. It was created in 2018 by Circle’s co-founders, Jeremy Allaire and Sean Neville, with significant support from Coinbase through the co-founding of the CENTRE Consortium. USDC ensures a consistent 1:1 value with the US dollar. This allows users to engage in digital transactions that reflect the worth of traditional currency. While it’s comparable to stablecoins such as Tether (USDT) and TrueUSD (TUSD), USDC stands out due to its significant presence on major exchanges and its acceptance in numerous DeFi ecosystems.
Shiba Inu (SHIB) is a Meme Coin that runs on the Ethereum blockchain as an ERC-20 token. It was introduced in August 2020, inspired by Dogecoin and aiming to be a fun and decentralized meme token. Shiba Inu is designed to serve both as a decentralized meme token and as an experiment in decentralized spontaneous community building. Unique to Shiba Inu is its “ShibaSwap” decentralized exchange and the token’s commitment to lock 50% of the total supply on Uniswap, with the remaining 50% being burned to Ethereum co-founder Vitalik Buterin. It is often compared to other meme coins like Dogecoin (DOGE) and Pepe (PEPE) due to its cultural value and origin. Shiba Inu has also garnered significant media attention and community support, leading to its listing on major exchanges.
Zengo offers its users a safe and secure platform for trading USDC for SHIB. To begin with the trading process, first download the Zengo app from Google Play or the Apple App Store. As soon as you set up your account and complete the onboarding process, you can start trading tokens.
Following the setup of your Zengo account, follow these steps to swap your USDC for SHIB:
Go to the Zengo app and tap the “Actions” button on the main menu.
Choose the USDC and SHIB pair (or vice versa) and enter the amount you would like to trade.
Make sure all transaction details are correct, and click “Confirm.” Zengo will send you a notification once the trade is successfully finalized.
The Zengo platform enables you to trade USDC for SHIB tokens in a secure and efficient way. These are some of the reasons so many people choose Zengo as their crypto and NFT wallet:
The Zengo platform offers the highest level of protection for your crypto and NFT by utilizing cutting-edge MPC technology, biometrics, and 3-factor authentication. Additionally, Zengo’s Web3 firewall protects your account when interacting with various Web3 Dapps. Find out more about Zengo’s security standards.
Zengo is a non-custodial wallet, meaning it gives you total control over your private keys. Moreover, the Zengo app has been designed to be user-friendly, which reduces the chances of human errors while managing your crypto assets and NFTs.
By using the Zengo wallet, you can trade a wide range of digital assets at fair and competitive rates. Further, there are no transaction fees for sending or receiving cryptocurrencies; however, third-party fees may still apply. Additionally, you can decide how much gas to pay for transactions. There are two possibilities: pay less, wait longer, or pay more and speed up the transaction. Learn more about our custom network fees here.
You don’t have to worry if you lose your phone or accidentally delete the Zengo app. Zengo provides a smart recovery system that is based on biometrics. If you ever lose access to your device, all you have to do is simply reinstall the Zengo app on your new phone and log in using your facial ID.
Although cryptocurrency trading has the potential to be profitable and exciting, it is mostly unregulated, with prices being volatile and fluctuating rapidly. Although Zengo offers a safe and secure platform for storing your digital assets and allows you to interact with Web3 Dapps, we do not provide financial advice. Make sure you do your research before investing in crypto or NFTs.
If you have remaining questions about trading USDC for SHIB with Zengo, refer to the FAQ section below.
USD Coin (USDC) and Shiba Inu (SHIB) are cryptocurrencies with distinct functions. USDC is a Stablecoin, which operates primarily on the Ethereum blockchain and is purposely 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. Meanwhile, Shiba Inu is a Meme Coin that runs on the Ethereum blockchain as an ERC-20 token. In contrast to USDC, which focuses on stability, Shiba Inu places its emphasis on decentralized community building and has features like “ShibaSwap,” its own decentralized exchange. While USDC serves as a bridge between traditional finance and the digital world, Shiba Inu thrives on its cultural resonance and community-driven initiatives.
Trading USD Coin for Shiba Inu with Zengo simply means that you are making use of Zengo’s built-in swapping feature to trade token for token.
When trading USDC for SHIB tokens, it is essential to have a reliable and compatible crypto wallet. The Zengo platform offers all of that, as well as additional features and security capabilities.
The minimum trading amount between USD Coin and Shiba Inu varies according to market fluctuations. To view the current minimum amounts, launch the Zengo app, choose the trade function, and select the currencies you’re interested in. For more information on Zengo’s fees and limits, click here.
By using the Zengo wallet, it is possible to swap USD Coin, Shiba Inu, and many other cryptocurrencies, including BTC, ETH, LINK, XTZ, SAND, and VGX. Specific pairs will be available based on current market conditions. To get the most recent information, open the Zengo app, tap “Actions,” then click “Trade,” and choose your desired trading pair.
Yes, Zengo gives you complete control over your digital assets. If you wish to send USDC or SHIB to another wallet, launch the Zengo app, select the cryptocurrency you wish to send, click on “Actions,” choose “Send,” then input the amount and destination wallet. Make sure you follow the instructions on the screen to complete your transfer.
After your USDC to SHIB transaction is complete, you will receive a notification on your device. Also, as soon as your trade is processed, the status will change from “Trade Pending” to “Trade Received” in the transaction history section of the Zengo app.
You can purchase both USDC and SHIB through Zengo’s fiat-to-crypto on-ramp gateway. When you want to buy new tokens, launch the Zengo app, select “Actions,” click on “Buy,” and follow the instructions to select a payment method and a payment partner. There are a variety of payment methods available, including MasterCard, Visa, Apple Pay, and bank wire transfers.
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