Zengo is the world’s first keyless crypto wallet that provides security with no comfortability tradeoffs. This article will present how the cryptocurrency wallet operates and observe everything needed to know about the wallet.
Zengo Review Summary
Zengo, which is based in Israel, provides a wallet having both security and simplicity in use that is considered to be rather unusual qualities among crypto wallets. By securing your account on the company’s servers using up-to-date cryptography, Zengo wallet makes private keys outdated.
Zengo is a useful addition to the crypto wallet portfolio, yet it has a comprehensible UI and extra crypto services, such as purchasing and swapping crypto. Also, it is the smoothest way to store your crypto safely. ZenGO provides the best customer service. That’s all about Zengo in brief.
Should you want to have a total report, continue getting acquainted with the article. Here’s the list of issues the users should know about:
- Company Overview
- Wallet Review
- Other Wallet Features
- Currencies and Payment Methods
- Supported countries
- Buying Limits
- Customer Support
- Conclusion
1. Company Overview
Zengo is a keyless cryptocurrency wallet created by Israel crypto company KZen Networks whose products are focused on usability and security. This is a nice way to earn some extra money.
Wallet Zengo was founded in 2018. Its creators are Omer Shlomovits, Gary Benattar, Tal Be’ery, and Ouriel Ohayon. Each of them is the CEO to some extent. Thanks to their skills, even Samsung pumped the money into the Zengo project.
This keyless wallet is meant to make the crypto economy available by offering the highest level of security. The ZenGo 2.0 keyless wallet to newbies was released in 2019. And how does it work?
2. Zengo Crypto Wallet Review
The most important thing about the ZenGo wallet is that it is available on IOS and Android. The second thing is that you don’t need a passcode. And it’s quite useful because you don’t even a seed phrase. It’s worth saying that everything is encrypted by a 3D biometric scan of your face, which means hackers can’t get access to your bitcoin funds by hacking your mobile device or ZenGo. Every private key is stored by a third party as well, but they are encrypted with your password.
The usability of the wallet is uncomplicated and comprehensible. To become a user of the bitcoin storage app, all you need is an email address and fingerprint lock. For setting up the ZenGo wallet on your device, follow the step-by-step tutorial, which you can find on the Internet. There is no password or private key complexities: no crazy setup or seed phrase to remember or lose. In addition, the Zeno wallet has the fastest and most secure setup in crypto. Every user has full control of their bitcoin funds.
Your crypto storage account links to your iCloud or Google Drive and is secured with face-mapping to create a backup file of your wallet. The decryption code is separately stored in your iCloud or Google account. The app is easy to set up, as there are no stressful processes and security warnings that are usually found on software or hardware wallets. Also, there is a possibility to add a face map of any person you trust if anything happens to you.
What concerns the work of the wallet, it functions as it was expected. There is a technology named threshold signatures. This is a distributed multi-party signature protocol that includes distributed key generation, signature, and verification algorithms. You can receive bitcoin funds using the public address and QR codes, send your bitcoin funds securely and choose from a range of tokens to store. The coin support is still limited. For instance, Litecoin does not function yet, but undoubtedly it will sooner or later.
3. Other Wallet Features
Grow Your Crypto: it helps you earn high interest and rewards on your money. This is done by staking coins on blockchains using proof-of-stake. To earn over 5% interest, you can stake crypto at something like Tezos directly from your ZenGo wallet.
Buy Crypto -purchasing cryptocurrencies can be done by using a debit card or a credit card or bank transfer within the app. When bought, a range of coins deposits into your wallet immediately.
Swap – you are able to trade cryptocurrencies from the tab that has the name “Swap.” Users can switch between supported coins for a competitive fee of 0.125%. It’s worth mentioning again that this is an intuitional function that allows trade within 30 minutes or less, which depends on network speeds and coin choices.
4. Currencies and Payment Methods
For the time being, ZenGo backs the cryptocurrencies mentioned down below. With the Zengo app, you can purchase BTC, ETH, and USDC with a credit card. The new ones are going to be added as the product developed.
- Bitcoin (BTC)
- Binance Coin (BNB)
- Ethereum (ETH)
- Tezos (XTZ)
- 0x (ZRX)
- Augur (REP)
- Basic Attention Token (BAT)
- Loom (LOOM)
- Maker (MKR)
- OmiseGo (OMG)
- ChainLink Token (LINK)
- Chiliz (CHZ)
- Civic (CVC)
- Dai (DAI)
- Decentraland (MANA)
- Golem (GNT)
- Huobi Token (HT)
- Leo Token (LEO)
- Paxos Standard (PAX)
- Tether (USDT)
- TrueUSD (TUSD)
- USD Coin (USDC)
Users can also purchase cryptocurrencies within the app via a MoonPay API using Visa, MasterCard, Apple Pay, and Swift.
5. Supported Countries
Accessible all around the world, the ZenGo wallet is suitable for those who have a desire to use it specifically for storing and using cryptocurrency.
Restrictions among countries only apply to buying coins with fiat currency on the platform. You can find a full list of countries here.
6. Buying Limits
You will have to verify your identity to buy cryptocurrencies on ZenGo.
There exist 3 steps of verification. Each of them has a purchasing limit:
Level 1: Up to €150 per month
Level 2: Up to €20,000 per month
Level 3: Up to €50,000 per month
7. Client Support and Online Reviews
As ZenGo is still a newly-made app trying to attract new people, client support and online reviews are not well-developed. Nowadays, it seems that the company is getting more and more experienced every day. ZenGo support can be used via the embedded chat feature within the app. Buying crypto is simple, and you’re always one tap away from our friendly support team.
There is a profile on Twitter that interacts with users and the industry as a whole. This is a great opportunity for users to ask questions about the app if they have one. Such interaction with people shows that a team not only focuses on sales but also tries to educate those using ZenGo.
Reddit users and forums look positive toward ZenGo so far with comments on its user-friendly nature.
If we have a look at the user reviews on the Play Store, we will see that they gave us 4.6 stars. Fortunately, there are not many complaints about system bugs and so forth. It’s a rather positive start for the app.
8. Conclusion
ZenGo is a newly-invented project solving the widespread problem of private keys and passwords. It can be called a big compliment in an industry driven by new technologies.
I am keen on using the wallet. It’s easy to use, uncomplicated, and besides, it gets rid of technicalities and complexities from storing cryptos. The wallet really drew my attention.
It has extra features as well, involving easy coin staking and interest, which is another step ahead of competitors.
The supported coins are stable enough to cover more early adopters. Though, it would be nice to be able to have more alternatives. The lack of Litecoin support was disappointing to me.
The bitcoin storage platform is ready to use as a wallet, but fees are imposed on trading and buying cryptocurrency. Though, it’s not bigger than the industry standard.
I’ve observed a great number of cryptocurrency wallets over the years, and ZenGo seems to be the best one to use. There are no passwords and private keys, and the UI is straightforward. Any credit card can be used. Give it a try if you are searching for a reliable cryptocurrency wallet to install on your mobile phone.
FAQs
Is ZenGo wallet safe?
Zengo bitcoin wallet is safe because users can set up a face id, which means hackers can’t get access to your bitcoin funds by just hacking your mobile device or ZenGo. In addition, accounts are connected with users’ iCloud or Google Drive (depending on what they use) and secured with face-mapping to create a backup file of the wallet in case if a user needs account restoration.
Is ZenGo secure?
As I have mentioned above, ZenGo appears one of the most secure bitcoin storage apps. It has a stable range of cryptocurrencies, and it’s also supported around the world. As the app continues developing, it’s also becoming more and more secure every day.
What is ZenGo?
The ZenGo service is a bitcoin (and other kinds of cryptocurrency) wallet without a private key, seed phrase requirements, and passwords, and it works with reliable servers. It has a huge range of cryptocurrencies, with the exception of Litecoin. The wallet supports Ether, Bitcoin, and Binance Coin and offers users to buy crypto conveniently with reliable server options, a simple setup no seed phrase needed. The name “Binance” is based on a combination of the words ‘binary’ and ‘finance.’ Bitcoin (or BTC for short) is the most widespread cryptocurrency. ZenGo is developing every day, attracting more and more newbies by using social media.
What are the best crypto storage software products?
It goes without saying that ZenGO is the best wallet that exists. Nobody has had a bad experience using this app— search for negative reviews on the service. It has a great number of unique features, various cryptocurrencies to each user’s taste, and so on. Also, this app is very secure. There’s no need to remember a pass code just because you don’t even need to create it. I think it’s a rather useful function because, in our modern world, we have to keep a lot of information in mind. So, if you are in search of the best crypto wallets with good service ZenGo is definitely for you! Read reviews and reread this very article to be certain as to what bitcoin wallet services to pick.
