Zengo is a self-custodial wallet for cryptocurrency that is free to use. However, you will have to pay a fee when you buy, sell, or trade cryptocurrency. These fees include
- Network fees (not paid to Zengo)
- Exchange fees
- Service fees (paid only to the providers).
Zengo does not apply any hidden fees or markups on the exchange rate. The fee amount may vary depending on the payment method, currency, and operator. Before you confirm your payment, Zengo provides you with a clear breakdown of all applicable fees.
Note: Zengo service fee is only applicable to Zengo Pro users.
Below is a breakdown of the fees associated with buying Bitcoin using the Zengo wallet.
Payment Method | Provider | Spread | Processing Fee | Gateway Fee | Local Currency Conversion Fee | Network Fee | Minimum |
Bank Transfer | Banxa | 1.99% – 2.29% | Included in spread | 0% | No | Yes | 50 USD/EUR or equivalent |
Bank Transfer | Banxa | 2.9% | Included in spread | 0% | No | Yes | 100 USD |
Bank Transfer | Moonpay | 1.5% – 3.0% | 1.99% (with a min. €3.99/£3.99/$3.99 or currency equivalent) | 0% | Yes (for non-USD/CAD/AUD/EUR/GBP currencies) | Yes | 30 USD/EUR/GBP |
Credit/Debit Card, Apple/Google Pay | Banxa | 3.75% | Included in spread | 1.99% | No | Yes | 50 USD/EUR or equivalent |
Credit/Debit Card, Apple/Google Pay | Moonpay | 1.5% – 3.0% | 4.0% (with a min. €3.99/£3.99/$3.99 or currency equivalent) | 1.99% | Yes (for non-USD/CAD/AUD/EUR/GBP currencies) | Yes | 30 USD (approx.) |
Please note: Zengo fees may vary by country. For specifics, visit the Zengo Fees webpage
FAQs
Buying Crypto on Zengo usually takes a few minutes. The exact time may vary based on network congestion, payment processing time, and exchange partner. Zengo will notify you once the transaction is complete and your Crypto will be available in your wallet.
Does Zengo need ID verification? ›
Zengo works with regulated platforms that adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations. Before purchasing Bitcoin (BTC) or any other cryptocurrency, Zengo's purchasing partners mandate identity verification and the provision of some personal information.
How to buy Bitcoin on Zengo with debit card? ›
To buy Bitcoin (BTC) on Zengo using your credit or debit card, follow these steps:
- Choose the “Buy” option.
- Enter the amount you want to purchase.
- Select credit/debit card as your payment method.
- Complete the transaction.
To receive from another wallet or exchange:
- Go to the "main menu" button.
- Tap on "Receive"
- Choose the asset you wish to receive.
- Use the QR code or copy and share the address directly.
Go to the “Actions” menu, click “Sell,” select the crypto you want to sell and the fiat currency you want to receive (Zengo supports USD, Euros, and GBP), then enter the preferred amount and confirm. Your funds will be transferred to your linked bank account.
What is the easiest Bitcoin wallet to buy Bitcoin? ›
BitPay gives crypto enthusiasts a safe, simple and quick way to buy Bitcoin. Buy with no hidden fees at competitive rates. After buying Bitcoin, manage your assets with the all-in-one BitPay Wallet app featuring industry-leading security.
Has Zengo ever been hacked? ›
Zengo has been in operation since 2018. Not one account has been hacked or taken over since the company was founded.
What is the best Bitcoin wallet without ID verification? ›
Best Anonymous Crypto Wallets of 2024
| Anonymous Crypto Wallet: | Supported Cryptocurrencies: | Fees: |
|---|
| SafePal | 10,000+ digital assets | Depends on the third-party provider |
| SecuX | 1000+ cryptos | Depends on the third-party provider |
| ColdCard | Bitcoin only | Depends on the third-party provider |
| Samourai Wallet | Bitcoin only | 0.00015 BTC |
11 more rowsSep 2, 2024
This system is run by established software escrow and trustee companies that have no ties to Zengo and that can, by way of a public repository on GitHub, trigger the recovery. Basically, you're guaranteed to always have access to your wallet.
Does Zengo accept wire transfers? ›
We've partnered with Banxa and MoonPay to process credit cards, bank wires, Apple Pay, Google Pay (Mastercard only), and instant EU/GBP bank transfers.
In the early days of Bitcoin development, cryptocurrency was traded on specific forums and tech-savvy platforms. But now, buying bitcoin is easier than ever. You can purchase bitcoin online with fiat using multiple payment options such as credit and debit cards, bank transfers, or online wallets - in just a few clicks.
What currency is used in Zengo? ›
Zengo lets you trade PYUSD for other supported assets like Bitcoin, Dogecoin, Ethereum, Tezos, Tether, and more.
How to buy Bitcoin anonymously? ›
To buy Bitcoin without revealing your identity, here are a few tips:
- Use cash or a prepaid debit card to purchase Bitcoin from an ATM. ...
- Consider using a peer-to-peer exchange like LocalBitcoins or Paxful. ...
- Use a decentralized exchange like Bisq. ...
- Mix and tumble your coins.
Holo Token (HOT) Keyless Wallet Security
Using the best in cyber-security protocols, Zengo's wallet is one of the most secure wallets you will find. It makes use of three-factor authentication as well as threshold key signatures, MPC (multiparty computation), and facial recognition to keep your Holo (HOT) tokens safe.
How long does it take for Bitcoin purchase to go through? ›
In general, Bitcoin transactions usually take from one to one and half hours to complete. On occasion, a high volume of transactions taking place on the Blockchain could lead to transaction delays.
How long does it take to receive Bitcoin in my wallet? ›
Typically, Bitcoin transactions can take anywhere from a few minutes to an hour to be confirmed on the blockchain and reflect in the receiving wallet. Higher transaction fees can help speed up the process by incentivizing miners to prioritize your transaction.
How long does it take to pay in Bitcoin? ›
In most cases, Bitcoin transactions need 1 to 1.5 hours to complete. Bitcoin transactions will usually be confirmed with one confirmation within 10 minutes. If several hours have passed without your Bitcoin transaction being confirmed, just wait.
How many days does it take to get 1 Bitcoin? ›
Generally, mining 1 Bitcoin can take around 10 minutes on average, while mining other cryptocurrencies like Bitcoin Cash and Ethereum may have different block times. It's essential to consider these factors when estimating the time needed to mine specific cryptocurrencies.
