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Swapping Tether (USDT) to DAI is a safe and effortless process with Zengo. Within just a few taps, you can trade your Tether for DAI or the other way around. Get started with Zengo, the most secure Web3-ready cryptocurrency wallet app, today.
Tether is an ERC-20 token that is pegged to the American Dollar, meaning that it is designed to always be worth around $1. For this reason, Tether is called a stablecoin. Tether (USDT) tokens are issued by iFinex, a FinTech company that also owns the BitFinex cryptocurrency exchange. Officially launched in 2014 as RealCoin, it rebranded later that year and became the third-largest cryptocurrency by market capitalization over the years. iFinex guarantees that a Dollar fully backs every Tether token and that users can redeem their Tether tokens for Dollars at any given time via the official Tether website or other fiat offramp services like Zengo.
DAI, previously known as Sai, is a stablecoin on the Ethereum blockchain that uses the ERC-20 protocol. It is pegged to the value of the United States Dollar through a series of smart contracts. The issuance of DAI tokens is regulated through MakerDAO, a decentralized autonomous organization composed of owners of its governance token MKR. DAI and MakerDAO are the first examples of decentralized finance applications that achieved significant adoption in the cryptocurrency community.
How to Trade USDT for DAI With Zengo?
To trade Tether for DAI or vice versa, simply download and install the Zengo wallet app from the Google Play or Apple App Store, and follow the onboard process to set up your account.
When you have successfully set up your Zengo wallet app, take the following steps to swap Tether for DAI:
Step 1
Open the app and tap the ‘’Actions’’ button located in the main menu.
Step 2
Tap the ‘’Trade’’ button.
Step 3
Select USDT and DAI, and determine the amount of Tether or DAI you want to swap.
Step 4
To finalize the swap, tap the ‘’Confirm’’ button and await the notification from Zengo, telling you the swap is complete.
Why Zengo is the Best Non-Custodial Crypto Wallet to Swap Tether for DAI
Swapping Tether for DAI is completely secure and effortless with the next-gen Zengo cryptocurrency wallet app. Swap Tether for DAI as simply and with as little friction as possible, just like thousands of other happy Zengo users. Key reasons to start using Zengo today include:
Endless Possibilities
With Zengo, you can send, receive, buy, sell, and swap cryptocurrencies like Bitcoin, Ethereum, Dogecoin, Polygon, Chainlink, and Shiba Inu. Additionally, the Zengo wallet allows you to store NFT collections and provides direct access to NFT marketplaces such as OpenSea. Added to that, Zengo functions as a Web3 gateway into decentralized finance through WalletConnect.
Safety and Security
The Zengo app is the safest and most secure non-custodial cryptocurrency wallet on the markets nowadays that makes use of the latest MPC technology to guarantee the safety of your digital assets through biometrical 3-factor authentication. Forget about writing down difficult seed phrases or printing our QR codes. With Zengo, you simply log in with your facial ID instead.
Accessibility and Control
The Zengo wallet app is fully non-custodial, giving you total control over your private keys that grant access to your digital assets. On top of that, our app is super user-friendly and intuitively designed, which removes any room for error when sending, receiving, or swapping cryptocurrencies. With Zengo, you can rest assured your funds are safe and accessible at any given time.
Fair Fees
Say goodbye to high trading fees! Zengo not only provides users with a great variety of digital assets but also charges its users low, competitive trading fees. In addition, Zengo doesn’t charge any transaction fees to send or receive cryptocurrencies. However, please note that third-party fees may apply. So be sure to take a look at our custom network fees to find out more about our dynamic miner fees.
Effortless Recoverability
Zengo guarantees the recoverability of your digital assets. In the unfortunate event of you losing your mobile device, you can simply use Zengo’s biometric and keyless recovery system to regain access to your crypto portfolio. Forget about storing your mnemonic keyphrase in weird places, and let technology work for you!
24/7 Live Customer Support
If swapping Tether (USDT) for DAI isn’t working for you or if you run into another issue with your Zengo wallet app, simply contact one of our friendly and professional 24/7 available support staff by either email or live chat. Do you have a more general question regarding your account? Then check out our extensive Online Help Center instead.
Disclaimer
Trading and investing in digital assets can be fun, exciting, and profitable. However, most of the cryptocurrency industry is still unregulated, and the majority of cryptocurrency tokens are highly volatile. Zengo goes to extreme lengths to protect your digital asset portfolio and grant you access to Web3, Daaps, and decentralized finance, but it doesn’t constitute financial advice, nor does it recommend buying or selling any cryptocurrencies. Always do your own research before investing in any cryptocurrency.
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FAQs About Swapping Tether (USDT) for DAI
Zengo provides its users with everything they need to make swapping USDT for DAI as easy as possible. However, in case you still have doubts or questions, please check out the FAQ below.
The main difference between Tether (USDT) and DAI is that DAI works in a decentralized manner, whilst Tether is backed by a single entity and is, therefore, considered centralized. Additionally, Tether is backed by stable fiat currency (the United States Dollar), while cryptocurrency tokens back DAI. Although both are considered stablecoins, it is a matter of personal choice which one you prefer over the other.
This means that you trade your Tether tokens and receive DAI tokens in return or vice versa via the Zengo wallet’s built-in swapping feature.
Yes, you will always need a safe and reliable cryptocurrency wallet such as Zengo to trade Tether for DAI and the other way around. Zengo allows you to do this in the safest and most easy way, making it an ideal solution for swapping Tether for DAI. Additionally, Zengo also allows you to trade other cryptocurrencies, such as Bitcoin, Ether, MATIC, Voyager, and Decentraland, at low, competitive fees.
Yes, there are minimum trading amounts between Tether and DAI, but these vary and are based on current market conditions. We recommend logging into your Zengo wallet app and checking the trade screen to find out the current minimum trading amounts between Tether and DAI.
For more information about Zengo minimum trading amounts, fees and limits, click here.
With Zengo, you can trade a wide variety of cryptocurrencies, including but not limited to BTC, ETH, SHIB, DOGE, XTZ, USDC, MATIC, ALPHA, SAND, MANA, and EUROC. All these tokens can be swapped for both Tether and DAI.
Yes, with the Zengo wallet, you can send both Tether and DAI easily to other external wallets. To do this, launch the Zengo app, navigate to the Tether or DAI screen from the main menu, determine how many tokens you want to send, and paste the receiving address. Once you have done this, you should follow the on-screen instructions to finalize the transaction.
You’ll know when your Tether to DAI trade is completed when the trade status changes from ‘’Trade Pending’’ to ‘’Trade Received’’ within the transaction history of the Zengo wallet app. Additionally, you will receive a push notification when this happens.
Yes, you can store Tether and DAI in your Zengo wallet. After all, Zengo is the safest and most secure Web-3 ready non-custodial wallet that allows storing multiple digital assets, including Tether and DAI, safely. Moreso, Zengo makes sure only you can access the private keys to your Tether and DAI tokens via Zengo’s built-in biometric facial recognition 3FA system.
Yes, you can buy both Tether and DAI tokens via Zengo. To do this, open the app, tap “Actions,” then tap the ‘’Buy’’ button, and select either Tether or DAI. Apart from Tether and DAI, with Zengo, you can also purchase other digital assets, including Bitcoin, Ethereum, Dogecoin, Tezos, Shiba Inu, and Polygon. Accepted payment methods include Visa, MasterCard, Apple Pay, and bank wire transfers.
