Cryptocurrency wallets allow users to store and manage their digital assets and tokens securely. However, most wallets rely on seed phrases – long passwords that must be safely stored and protected. Lose your seed phrase, and you lose access to your funds forever.
This single point of failure poses a huge security risk for crypto investors. But one innovative wallet provides a safer solution: ZenGo.
ZenGo is the world’s first keyless crypto wallet, utilizing advanced multi-party computation (MPC) technology instead of risky seed phrases. MPC uses complex mathematical algorithms to split your private key into multiple encrypted parts. No single entity can access your full key, preventing theft or loss.
In this article, we’ll take an in-depth look at how ZenGo’s groundbreaking approach completely eliminates the seed phrase vulnerability common to other leading wallets like MetaMask, Trust Wallet, Coinbase Wallet, and Exodus. We’ll also explore the other security features and user-friendly design that make ZenGo the most secure option for crypto asset management.
By removing the single point of failure introduced by seed phrases, ZenGo provides investors the safest and most convenient path to adopting cryptocurrency. Let’s examine the details of this revolutionary wallet.
What is Zengo?
ZenGo is the most secure cryptocurrency wallet app and unlike other wallets, Zengo is powered by MPC and has no seed phrase vulnerability. This means that there is no seed phrase that can be lost or stolen.
Buy, swap and sell over 120+ crypto assets with incredible bulletproof security.
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Why Zengo? The most secure Web3 wallet
Zengo is the world’s most secure Web3 wallet that offers the best of both worlds: full on-chain control over your crypto, but no private key vulnerability.
ZenGo applies industry-leading biometric encryption, 3FA authentication and MPC (Multi-Party Computation) cryptography, ensuring easy and stress-free access to your crypto.
Advanced MPC cryptography has been used by multi-billion dollar institutions for years; Zengo is the first cryptocurrency wallet application to offer these same security benefits to consumers.
Zengo’s 3-factor security offers: 1. Total control: No one but you can control your crypto. 2. Effortless recovery: Your wallet is backed up, so even if you lose your phone, you can recover your crypto through a 3-step verification process.
Upgrading to Zengo Pro unlocks a suite of premium security features for as low as $16.67 a month.
Zengo’s leading all-in-one cryptocurrency wallet
Zengo is loved by users
Company Overview
Zengo is a keyless mobile cryptocurrency wallet developed by Israel-based KZen Networks – a company that builds products for the blockchain space with a strong focus on security and user interface.
The company was founded by Gary Benattar, Omer Shlomovits, Ouriel Ohayon and Tal Be’ery in 2018. Their unique mix of engineering, security and cryptography helped the Zengo project raise $4 million in seed funding, including the backing of Samsung.
In 2021, Zengo was able to raise another $20 million in an additional investment round, bringing the total funding raised to $24 million.
The Zengo wallet aims to make cryptocurrency more accessible to all, eliminating technical frustrations while maintaining the highest levels of security. Late 2019 saw the release of the Zengo 2.0 keyless wallet to early adopters.
In early 2022, ZenGo also added support for users to connect to a variety of decentralized applications to keep users safe on web3.
So how does Zengo compare to the competition?
Wallet review
From the first glance at the Zengo wallet, I couldn’t wait to start testing it.
The first thing to note is that it is a keyless mobile wallet, available on Android and iOS. That means there’s no private keys to worry about – you don’t even need a password to log in!
As someone who reviews plenty of crypto platforms, I can tell you my heart sinks every time I have to create a new password or store a seed phrase. It’s a headache that Zengo solves without you having to lose control of your crypto.
Read this to understand how cryptocurrencies traditionally secure your coins.
Security is shared between your device and Zengo’s servers in multiple decrypted bits, which means hackers can’t access your funds just by hacking your phone or Zengo. Plus everything is encrypted using a 3FA. That’s great.
This keyless simplicity is built into an impressive user interface that is intuitive and super simple. To sign up, download the iOS/Android Zengo app. Continue to set up the wallet by entering your email and verifying it.
To recover your wallet you will need to set up the 3D FaceLock verification and save your recovery file on iCloud/Google Drive/ DropBox. This recovery file is NOT a private or a secret share and is useless to a hacker.
It’s easy to set up, without the stressful processes and security caveats often found in software or hardware wallets. Plus, you can add a facial map of a trusted family member or person to secure your cryptocurrency if something happens to you.
The wallet itself works as you would expect from a cryptocurrency wallet. You can receive cryptocurrencies using public addresses and QR codes, send funds securely, and choose from a range of coins to store your wealth.
Coin support is currently limited, with many big name tokens such as XRP, Solana, Avalanche, Litecoin and Bitcoin Cash not available on Zengo.
Other wallet features
Grow Your Crypto
Grow Your Crypto allows you to earn compound interest and rewards on your funds. This is done through staking coins on blockchains using proof-of-stake. You can quickly and easily stake coins like Tezos directly from your Zengo wallet and earn over 5% interest.
Buy Bitcoin and Crypto on Zengo
Buying crypto on Zengo is easy and secure. You can buy Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC) and more with your credit card (Visa and Mastercard), Apple Pay (Visa and Mastercard), bank transfer (SEPA and Swift) or debit card (Maestro).
You can buy crypto through MoonPay and Banxa in 188 regions worldwide.
Exchange
Zengo users can exchange cryptocurrencies in the Swap tab. You can swap between supported currencies for a competitive fee of just 0.125%. Again, it’s an intuitive feature that allows you to make trades in 30 minutes or less, depending on network speed and your chosen currencies.
Currencies and payment methods
Currently, Zengo supports over 120 cryptocurrencies, and more will be added as the product matures. Most major tokens are available on the platform, such as:
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Cryptocurrencies can be exchanged for other cryptocurrencies on the platform or users can purchase cryptocurrencies with fiat currency using these payment methods:
If you wish to sell your crypto and receive fiat currency in your bank account, you will need to use MoonPay or Banxa within the Zengo app to process withdrawals which can take up to 2 business days.
Supported countries
The wallet is available worldwide for those who wish to use it specifically to store and use cryptocurrencies, and anyone over the age of 18 can use the app.
There are some countries where purchases cannot be made, including:
As far as the United States is concerned, there are some states that are not supported at all – as well as some states that have restrictions on the purchase of certain cryptocurrencies. The following states are restricted from purchasing any crypto using Zengo:
The following U.S. states only have restrictions for ADA, BNB, BUSD, DOGE, ETH, MATIC and USDC:
Crypto-to-Crypto
Swapping crypto-to-crypto has a processing fee of up to 2% and spread up to 2%. The minimum and maximum limits depend upon the buying and selling pair and marketplace liquidity on the time you’re making your exchange.
Receiving crypto has 0 fees and sending crypto has the simplest network fees applicable. There is likewise no minimum or maximum amount whilst sending crypto.
Fiat-to-Crypto
Minimum deposit: Moonpay allows you to buy with a minimum of $30.
Fees: Bank transfer: Spread + processing + gateway fee is 1.99-2.29%. For credit card Spread+processing fee 3.75% and gateway fee is 1.99%.
Crypto-to-Fiat
Selling crypto for fiat currency the usage of MoonPay has a price of 1.Ninety nine% on pinnacle of community fees. There is a minimum transaction amount of 0.001 BTC, 0.01 ETH, 0.05 BCH, 30 USDC & 30 USDT. As for optimum withdrawal quantity, there is a every day restriction of €10,000 EUR and a month-to-month restriction of €20,000 EUR or equal.
Zengo Limits
For buying cryptocurrencies on Zengo you’ll need to confirm your identity. There are three tiers of verification, every with its very own shopping for restriction.
Customer Support and Online Reviews
Zengo has a comprehensive assist center with posts that solution nearly any query you may have, along side designated guides that will help you use the service. There is likewise a live chat to be had on the website, where you may talk to a actual individual with a median respond time of less than three mins.
There is a robust on-line presence with an active twitter profile, interacting with users and the industry as an entire. I always want to see this, as it is a signal of a team keen to assist and train users, instead of totally that specialize in sales.
I did try and contact the organization with a easy request approximately costs thru e-mail guide, but alas no reaction arrived in an inexpensive time.
Reddit customers and boards appear to be positive toward Zengo so far, with feedback on its person pleasant nature.
In the Apple Store, the app achieves a score of 4.7, which is very good. There are not many complaints or frustrations of system errors. With over 3000 reviews at the time of writing, the 4.7 average is an excellent achievement for Zengo.
If you want to learn more about Zengo Wallet and download it CLICK HERE!
Is ZenGo Wallet Safe?
Zengo wallet is the most secure crypto wallet on the market. The security model speaks for itself: 0 Zengo wallets have been hacked or stolen since founding in 2018.
They use Zoom’s facial reputable software program. They even offer their users to test the system by trying to restore the account with a picture or video of your face. It will fail. What this means is that the system cannot be spoofed with a high-resolution picture, video, or even a 3D mask
By offering multiple decryption codes stored in locations (your tool and their servers) it makes it noticeably tough to your pockets to be hacked, if no longer not possible. Zengo even positioned out a hacking venture for a wallet with 1 Bitcoin in it, and no person changed into able to hack into it, in addition displaying the power of the wallet’s security.
Zengo is now offering its new users Zengo Pro:
Zengo Pro: While Zengo Essentials continues to be offered for free, upgrading to Zengo Pro unlocks a suite of premium security features for as low as $16.67 a month.
Priority 24/7 Support: typically response time of under 3 minutes, supporting 180 languages.
Conclusion
Zengo is an innovative company that solves the big problem of private keys. I’d say that’s a high compliment in an industry completely driven by innovation.
I love using the wallet. It’s easy to use, intuitive and just a pleasure, while removing the technicalities and complexities of storing cryptocurrencies. It really caught my attention.
It’s also packed with additional features, such as easy coin wagering and interest, which is a step beyond many competitors.
I’ve looked at many cryptocurrency wallets over the years and Zengo seems to be one of the best. Passwords and private keys are eradicated and the user interface is ridiculously simple. Definitely worth going if you are looking for a secure mobile cryptocurrency wallet.
Zengo is now offering its new users two special offers:
Special offer:
Bank transfers for purchase are now expanded to include: USA, Europe, UK, Australia, Canada, Turkey, South Africa and Brazil.
And in addition, they have two new features which are:
