Understanding the Features
- Portal In
- Concept: Deposit fiat currency (USD, EUR, etc.) and automatically convert it to stablecoins (USDT) within your Shiga Wallet.
- How It Works: Link your bank account, transfer fiat, and receive crypto at competitive rates—no external exchanges needed.
- Portal Out
- Concept: Convert stablecoins (USDT) back to fiat and withdraw directly to your bank account.
- How It Works: Initiate a withdrawal, and Shiga handles the conversion and transfer to your linked bank account.
Why Use Portal In & Portal Out?
- Speed & Convenience
- Skip third-party exchanges—transact directly within Shiga with instant settlements.
- Regulated Security
- Licensed VASP compliance ensures safe, audited fiat gateways.
- Cost Efficiency
- Lower fees than traditional exchanges + optimized conversion rates.
- Global Liquidity
- Supports multi-currency accounts (USD, EUR, etc.) and Pan-African corridors.
- Business Scalability
- Mass payouts (Portal Out) and bulk crypto purchases (Portal In) for enterprises.
Portal In Setup Process
When initiating a PORTAL IN transaction:
- The system generates a virtual bank account in your name
- Supported fiat currencies include EUR, GBP, and USD
- You must specify a settlement stablecoin wallet address
- Supported blockchain networks: Arbitrum, Base, Celo, Ethereum, Optimism, Polygon, Solana, Tron
3. Wallet Management
The wallet management interface displays:
- Existing wallet addresses with their associated:
- SmartChain network (EVM-compatible or Solana)
- Full wallet address (truncated for security)
- Default designation status
Users can:
- Designate default wallets for settlements
- Add new wallet addresses with complete verification
- Select from supported stablecoins (USDT)
4. Currency-Specific Portal Accounts
Each activated currency portal provides:
- Dedicated virtual account details including:
- Account holder name
- Account number
- IBAN (for EUR accounts)
- Bank identification codes
- Important operational notes:
- Accounts don’t maintain fiat balances
- Funds automatically convert upon receipt
- Only accept transfers from same-name accounts
5. Transaction Flow
The conversion process follows clear steps:
- Fiat deposit to designated portal account
- Automatic conversion to specified stablecoin
- Transfer to pre-selected wallet address
The interface provides:
- Rate calculation tools
- Settlement information verification
- Transaction reference details
Security Recommendations:
- Always verify wallet addresses before setting as default
- Only initiate transfers from accounts matching your registered name
- Regularly review your connected wallets and portal accounts
- Utilize the rate calculator before initiating large conversions
This comprehensive system eliminates traditional exchange hurdles while maintaining full compliance and transaction transparency.
Responses are generated using AI and may contain mistakes.