Zengo Review: Is It Worth It?
In this Zengo review, we will be examining whether or not the Zengo is safe, secure, private, and overall worth your time!
Disclaimer: We want to emphasize that this is not financial advice. Cryptocurrencies operate in a volatile market, where values can drastically fluctuate in a blink of an eye. It is imperative to conduct thorough research and seek guidance from a qualified financial advisor before investing.
Background And History
Founded in 2018 and led by KZen Networks, a prominent figure in blockchain technology, Zengo maintains a steadfast dedication to enhancing security and refining user interaction.
Situated in the vibrant Sarona neighborhood of Tel Aviv-Yafo, with a parallel operational hub in Vienna, Zengo stands at the forefront of reshaping crypto wallet paradigms. Diverging from the conventional path, Zengo introduces a pioneering concept—an non-custodial keyless wallet. In the realm of crypto assets, the idea of being "keyless" is revolutionary yet elegantly straightforward: neither Zengo nor the user generates or stores any private keys. This groundbreaking feature is not mystical, but a result of the advanced cryptographic methodologies harnessed by Zengo.
Zengo marries a fusion of cutting-edge design principles and robust security protocols, culminating in an ecosystem where users can seamlessly transact, safeguard, and manage their crypto assets with unparalleled peace of mind. This commitment to security is a foundational pillar in Zengo's philosophy, ensuring that customer experiences remain resolute and uncompromised.
At the heart of Zengo's mission lie two unwavering values: an obsession with security and an enduring commitment to delivering exceptional customer experiences. These guiding principles serve as the guiding star for every facet of Zengo's pursuits. With a resolute focus on security and user-friendliness, Zengo has forged a path that establishes new standards in the crypto wallet arena.
Main Features
Zengo Pro Elevates Your Crypto Experience: While Zengo Essentials remains freely available, the upgrade to Zengo Pro introduces an array of premium security features, all starting from as low as $16.67 per month. This enhancement ensures not only the safeguarding of your digital assets but also the seamless execution of various crypto activities.
Introducing Legacy Transfer Functionality: Zengo pioneers a groundbreaking feature reminiscent of traditional inheritance systems – the Legacy Transfer. This self-custodial tool, an industry first, permits you to grant beneficiaries access to your digital assets in scenarios involving extended absence or unfortunate demise.
Unparalleled Security Measures: Zengo fortifies your peace of mind with cutting-edge security measures. The 3D FaceLock biometric verification shields against unauthorized withdrawals, bolstering the safety of your assets. This pioneering security layer reflects Zengo's unwavering commitment to user protection.
Shielding Against Web3 Threats: Navigating the dynamic landscape of Web3 demands comprehensive protection. Zengo offers an Advanced Web3 Firewall, conducting real-time risk assessments and issuing alerts against potential Web3 attacks. This proactive defense mechanism ensures a seamless crypto journey.
24/7 Priority Support in 180 Languages: Zengo's dedication to user satisfaction extends to its support system. With an average response time of under 3 minutes, available 24/7 in an impressive 180 languages, users receive unparalleled assistance whenever they require it.
Embarking on the Zengo Experience: Within the realm of cryptocurrencies, Zengo emerges as an all-encompassing solution, catering adeptly to both novices and seasoned enthusiasts. Seamlessly navigate the intricate world of crypto with Zengo, where an array of features awaits your exploration.
Effortless Portfolio Management: Zengo empowers users to masterfully manage their crypto portfolios. This inclusive platform allows secure storage, seamless transactions, trading, and interactions with a diverse selection of cryptocurrencies, effectively centralizing your crypto endeavors.
Global Accessibility Redefined: Zengo's global accessibility is amplified through its cryptocurrency swapping capability. Seamlessly convert crypto assets, transcending geographical boundaries and creating a truly borderless experience. With support for over 70 crypto assets, including stalwarts like Bitcoin and Ethereum, alongside emerging contenders like Dogecoin and Shiba Inu, Zengo caters to a plethora of preferences.
Human-Centric Support Round the Clock: The user-centric ethos of Zengo comes to life with its unwavering human agent support available 24/7. This personalized assistance assures users of immediate aid, enhancing their overall interaction with the platform.
Flexible Transaction Management: Zengo's transaction management options epitomize innovation. Effortlessly cancel or expedite transactions with a single tap, even before blockchain confirmation, showcasing a level of control and convenience rarely encountered elsewhere.
Empowerment Through Earnings: Zengo transcends mere asset holding, offering users the opportunity to earn. With an annual percentage yield (APY) of up to 8% on crypto assets, Zengo transforms dormant holdings into potentially lucrative investments. This enticing APY feature embodies Zengo's holistic approach to serving its valued users.
Security
Zengo adeptly navigates the complexities of this intricate landscape through a fusion of innovation and robust security measures.
In the realm of traditional custodial wallets, the vulnerability to hacking poses an ongoing concern, resulting in substantial daily losses. Zengo's approach addresses this risk by replacing the conventional single-point private key storage model. Instead, it embraces a dual-secret share strategy, dividing one share to your device and the other to its servers. This dual-layer protective mechanism ensures that no single weakness can jeopardize your holdings, affording you an unparalleled level of security. Additionally, by eliminating conventional private keys, the potential for accidental loss is eradicated.
Zengo's commitment to security extends beyond standard two-factor authentication (2FA) through its progressive three-factor approach (3FA). Your email is fortified with a magic link for heightened verification. A recovery file, securely stored in your personal cloud service, acts as a safety net. Going even further, a securely encrypted mathematical representation of your facial features—safeguarded on Zengo's servers—facilitates seamless account restoration during device changes or app removals.
The ingenious blend of these factors with MPC (Multi-Party Computation) cryptography showcases Zengo's prowess in risk mitigation. By harmonizing robust authentication methods with cutting-edge cryptographic techniques, Zengo effectively neutralizes the threats that frequently surround cryptocurrency storage.
Zengo goes a step further with Chill Storage™, a pioneering assurance of fund access in dire circumstances. This innovation underscores their dedication to providing a secure haven for your assets.
Privacy
Zengo's commitment to privacy starts with the minimal data it requires from you. The principle is clear: only the essential information necessary for the app's operation is requested. The threshold for entry is set at an email address, ensuring that the sign-up process is straightforward and uncomplicated. Your email becomes your gateway, a single point of contact without delving into unnecessary personal details.
For those who opt for the recommended keyless backup feature, Zengo maintains its pledge to minimalism. The process involves generating an encrypted mathematical representation of your face. It's important to highlight that this isn't an actual photograph. This unique approach to authentication underscores Zengo's dedication to safeguarding your identity, ensuring that your personal features remain in your control.
Zengo's stance on privacy extends beyond individual identifiers. While cultivating a private experience, Zengo does gather non-personal information that pertains to app usage and transaction details. This collection serves an intrinsic purpose: to refine and enhance the service itself. The intent is to optimize user experience and service quality, all while upholding a commitment to maintaining the utmost discretion when it comes to personal data.
Fees
Within the Zengo app, a range of services are available, some with associated fees while others are offered free of charge. It's essential to acknowledge that the core functionalities of sending, receiving, and securely storing your cryptocurrency within Zengo are provided without any cost. This fee-free approach applies universally, transcending geographical boundaries and removing limitations.
Zengo's fee structure is not fixed; it's designed to be flexible. Changes can occur periodically, ensuring that the platform remains responsive to the evolving landscape. These fluctuations in fees depend on the specific services being accessed. For the most up-to-date and accurate information regarding fees, it is recommended to refer to the provided link.
As a continuously evolving entity in the cryptocurrency sphere, Zengo keeps flexibility and transparency at the forefront. By adopting a dynamic fee system and offering critical functions free of charge, Zengo aims to achieve a harmonious balance between user convenience and financial sustainability.
Supported Assets
The list of assets supported by Zengo is often updated, for the latest list of supported assets, follow the link below.
Usability
The cryptocurrency wallet landscape often veers into the territory of being unwieldy and bewildering, an aspect that Zengo has addressed with remarkable finesse. Their concerted effort in crafting an interface that's not just functional, but a delight to engage with, resonates deeply with their user-centric philosophy.
Zengo's commitment to user experience is palpable. The notion of building the simplest and most gratifying wallet experience is evidently embedded in their ethos. This pursuit isn't just a fleeting focus; it stands as a steadfast principle that stands shoulder-to-shoulder with their paramount priority: security.
Navigating through Zengo's app, one can't help but appreciate its aesthetic appeal and user-friendly design. The simplicity of use stands out prominently. It's an embodiment of their dedication to ensuring that users are spared the complexities that often plague crypto wallets. From the layout to the interactions, every element appears thoughtfully crafted to create a seamless journey for users.
Zengo Pros & Cons
Zengo: Pros
- The keyless wallet technology
- The savings feature
- Very user friendly
- Strong security and privacy features
Zengo: Cons
- Need to store the Keyless Recovery Backup on iCloud or Google Drive
- Only available on mobile
- Buying and selling are not available in some countries and US states
Zengo Review: Verdict
After our Zengo review, we found this to be one of the most interesting products in the crypto market today!
Zengo is extremely user-friendly, it has great security and privacy features, fees are reasonable, it offers a savings feature and its keyless wallet technology is truly revolutionary.
On the downside,Zengo requires you to store the Keyless Recovery backup on either iCloud or Google Drive, which, as we know, are far from great for privacy.
Zengo is also only available on mobile, it can't be accessed via a desktop.
Buying and selling are not available in some countries and US states, something which, hopefully, will soon change.
In the near future, Zengo is looking to add wallet-connect features while moving into web3, it's also looking to add support for NFTs, and will soon be adding SOLANA as a supported asset.
If you'd like to sign up for a free Zengo account, simply follow the link below!
