Zengo Trade allows you to trade (or swap) one cryptoasset for another cryptoasset of the same value. For example, you can trade $100 worth of Bitcoin for $100 worth of Ethereum (minus fees). The amounts of crypto are different for each asset, but the local currency value — dollars in this example — is the same. 

Trading in Zengo is easy. Just follow these steps:

1. Open your Zengo account here
2. Go to the Actions tab on the home screen
3. Select the asset to trade (i.e. the “From” asset)
4. Select the asset to receive in return (i.e. the “To” asset)
5. Enter the amount to trade
6. Press “Continue” and review your trade
7. Press “Confirm”

That’s it! Your trade order is submitted and you’ll be notified when it arrives.

When you complete a trade order, you will see a “Trade Pending…” activity for the outgoing asset on your History screen. When your trade arrives, you will see a “Trade Received” activity for the incoming asset and receive a notification.

There are two types of fees related to trading:

1. Processing fee & spread: Every transaction includes a 0.5% processing fee and a fee included in the asset spread: The spread is the difference in price between sellers and buyers. Other liquidity fees may apply depending on the asset. To ensure maximum transparency, fees you pay are deducted from the final amount on the confirmation screen and clearly displayed, so what you see when you approve the transaction is the actual amount you’ll receive in your Zengo wallet.
2. Network fee: This is the standard blockchain mining fee for processing transactions, the same as for sending regular transactions. It can vary depending on the asset, network congestion, and market conditions. Network fees are dynamic and change all the time. The network fee is in addition to the processing fee and you’ll see it clearly on the confirmation screen before completing the trade. For supported Ethereum tokens (ERC-20) you will need Ethereum to pay for the network fees.

In general you can trade most assets supported in your Zengo wallet. There may be certain asset pairs that are not supported for lack of liquidity, but this can change from time to time. The best way to check which pairs are currently available is by selecting them in the app. Want to trade an asset but can’t find it as an option? Reach out to us directly as we’re always looking to expand supported assets.

A trade can take anywhere from 5 to 30 minutes, depending on the asset pair and market conditions. You’ll receive a notification when your trade or swap arrives in your Zengo wallet.

Trade from almost everywhere the Zengo wallet is available.

There are minimum and maximum trade amounts for each asset pair which can vary based on market conditions. We try to optimize the minimum amounts so that the network fees paid to miners to process the transaction are never a significant portion of the total trade. You can see the current minimum and maximum amounts on the trade screen in the app.

If you’d like to trade more than the maximum amount, you can simply split your trade into multiple parts.

As always, our legendary customer service team is here to help, 24/7. Simply reach out via the in-app portal.