ZenGo Wallet Review

ZenGo Wallet Review

Robert McDougall 

January 2, 2023

Cryptocurrency

Buying cryptocurrencies is easy. There are thousands of centralized crypto exchanges that can help you buy a variety of crypto assets with a single click through several payment methods. But can those exchanges keep your assets safe? Are they reliable and trustworthy? Recent events in the crypto industry indicate otherwise. One of the most popular centralized exchanges, FTX, filed for bankruptcy due to incompetent management and a series of events that led to a disaster. Millions of crypto investors lost their hard-earned money, shattering the trust of the whole crypto community.

To combat this problem, you can use a self-custodial crypto wallet where no exchange has access to your funds. You will have full control over your assets without having to trust a third-party's management or security. ZenGo crypto wallet is one of the top choices available, so let's see what they offer.

What is ZenGo crypto wallet?

ZenGo is the most secure crypto wallet. While many cryptocurrency wallets rely on private keys for the primary security of the wallet, ZenGo crypto wallet utilizes an MPC cryptographic security system proven to protect against usual hacks, breaches, and phishing attempts. With no secret key vulnerability, users don’t have to worry about getting their keys hacked or breached.  ZenGo crypto wallet is a next-gen crypto wallet that does it all, but in a better way.

ZenGo crypto wallet comes with features that allow users to buy, trade, send, stake, and receive cryptocurrencies in a few simple steps. You have access to over 80+ crypto assets across different networks. With an easy-to-use interface and premium customer support, you will find it easy to use ZenGo crypto wallet. You can get started just by installing the ZenGo app on your mobile phone and setting up the wallet.

About ZenGo Crypto Wallet

ZenGo is a next-gen cryptocurrency wallet that makes it easier for users to access the blockchain industry. Launched in 2018, the wallet currently has over 700,000 users. ZenGo has been endorsed by big media outlets for their unique services and robust security system, and the wallet is available globally.

ZenGo Crypto Wallet Pros & Cons

Pros
  • Most secure crypto wallet with no private key vulnerability, and guaranteed account recovery
  • Premium security features and built-in firewalls
  • Buy, trade, send, stake, receive, and store crypto
  • Available on iOS/Android devices
  • Excellent 24/7 immediate support
Cons
  • Limited range of 80+ cryptocurrencies
  • Not available on desktop

ZenGo Crypto Wallet Features

Self-custodial wallet with full control:  ZenGo crypto wallet is a self-custodial wallet that offers full control to users. There is no third-party involved in managing your assets or funds, eliminating any chance of a centralized entity interfering with your funds, holding them, or preventing withdrawals. 

With most self-custodial wallets, users need to be very careful in managing passwords and key phrases. Once you lose your key phrase, you lose your funds, as the platform has no control over your account to recover it. However, with ZenGo crypto wallet, you do not need to use key phrases. To understand the concept better, see the next point below.

No private key vulnerability:  As key phrases, passwords, and long-tail phrases can be hacked, lost, or otherwise compromised, ZenGo crypto wallet has built their ecosystem with no private key vulnerability, providing the highest level of wallet security. ZenGo bases their security model on MPC (Multi-Party Computation) cryptography system. MPC has been used by plenty of other enterprises to secure billions of dollars. This bulletproof framework keeps hackers and scams away from your funds, offering you peace of mind all the time.

Instantly buy cryptocurrencies with different payment methods:  Some crypto wallets do not allow users to make crypto purchases, but only allow users to deposit funds from another wallet. With ZenGo crypto wallet, you get instant access to buy cryptocurrencies within seconds through the provided payment methods.

ZenGo crypto wallet has partnered up with several third-party payment merchants, like Banxa, Moonpay, and Coinmama to buy crypto using a variety of payment methods. You can use your credit or debit card, bank transfers, or utilize e-wallets to buy the available cryptocurrencies. You can even access 0% fees on your first purchase on ZenGo using Banxa (up to $200), which is an excellent way to get started!

One-tap crypto trading and swapping:  You can also trade and swap your crypto assets on ZenGo crypto wallet. Since its focus is on being a secure wallet and not a professional crypto trading platform, do not expect detailed charts, advanced tools, and other types of insights. However, for simple crypto trading and swapping, ZenGo can do the job for you easily. Simply select an asset that you currently own and choose the asset that you want in return on the second tab. The fee will be shown at the time of the trade, and you can proceed to complete the transaction. The trading system integrated into ZenGo crypto wallet is powered by Changelly, a premium trading platform that has been offering crypto services for years.

Multiple networks are supported:  ZenGo is a multi-chain wallet that supports over 80+ cryptocurrencies based on different networks. If you want to diversify your portfolio, ZenGo crypto wallet can help you. Whether you want to hold BTC, ETH, or smaller altcoins, you can access them all in the same place, thanks to the multiple networks supported by the wallet.

Access Web 3.0 with ZenGo crypto wallet:  NFTs, DeFi, and gaming are the new hot topics in the crypto industry. ZenGo crypto wallet offers an easy gateway to web 3.0, providing users access to hundreds of DApps. You can also access OpenSea (the biggest marketplace for NFTs) and Sandbox (to enter the metaverse). Keep in mind that accessing the DApps with ZenGo crypto wallet requires you to have WalletConnect that is connected to ZenGo through a QR code.

Guaranteed recovery with 3FA:  As stated earlier, with most non-custodial wallets you cannot recover your funds when you lose your key phrase. To counter this problem, ZenGo crypto wallet has a 3FA system that guarantees you will never lose your crypto. The wallet implements this system by utilizing the email accounts of users, biometric scan, and recovery kit. You can switch devices without having to worry about a key phrase. Your face will be the biggest tool to recover everything you own.

Available on Android and iOS devices:  ZenGo crypto wallet can be downloaded on Android and iOS devices, so you can access your crypto wherever you are. The mobile apps have a user-friendly interface, making it easy for anyone to buy, stake, send, receive, and store their crypto.

Built-in firewall to prevent malicious attacks:  Malicious attacks, hacks, and viruses are some of the most common ways to get into your crypto wallet and fetch crucial data to steal your funds. But with a built-in web 3.0 firewall, ZenGo crypto wallet alerts and notifies you of any suspicious activity, attack, or attempted breach. With automatic protection, all the attacks are filtered out to keep your funds safe. 

Learn and grow with the ZenGo blog:  ZenGo has a separate blog section for users who are new to the cryptocurrency industry and want to increase their knowledge and understanding. There are countless articles available here, including a complete guide to buying cryptocurrencies, as well as anything you want to learn about ZenGo.

Supported cryptocurrencies on ZenGo

ZenGo supports over 80+ cryptocurrencies, including the most popular ones. This range of coins means you have the opportunity to bring diversity to your crypto portfolio by exploring and investing in the best projects. Before you make any investment decisions, remember to do your own research and never invest more than you can afford to lose. The following are some of the crypto assets that you can access on ZenGo: 

All of these cryptocurrencies are available on their respective network, and ZenGo does not impose any restrictions when it comes to different blockchains. ZenGo regularly adds more assets for their users to access. There is even a list provided of the tokens that are not yet on the platform. You can select the ask option in front of those assets to let the platform know your interests.

ZenGo crypto wallet Customer Support

To provide customers with the best possible experience, ZenGo crypto wallet has a professional customer support team to solve users’ problems. With the chat button available on the app, you can instantly connect with any available agent and raise your issue with them. You will either be provided with a detailed guide that you can read, or receive a tailored solution specific to your problem. 

ZenGo crypto wallet's customer support is available 24/7, but during busy periods you may need to wait a few minutes or longer to get a reply. While you are waiting, you can visit the ZenGo blog section to try and find a quick solution.

ZenGo Fees

ZenGo crypto wallet's fee structure is as follows:

ZenGo crypto deposits and buying fees

Depositing crypto to your ZenGo crypto wallet is free of charge.

Purchasing cryptocurrencies through third-party payment merchants will incur fees. Here are the fees and spreads based on various payment methods and merchants.

  • Banxa (Bank transfers): 0% gateway fee, 1.99% spread (except stablecoins: 0.1% spread)
  • Banxa (Wire transfers): 0% gateway fee, 1.99% spread (except stablecoins: 0.1% spread)
  • Banxa (SEPA): 0% gateway fee, 1.99% spread (except stablecoins: 0.1% spread)
  • Banxa (Credit/debit cards): 1.99% gateway fee, 3% spread
  • Banxa (Apple Pay, Google Pay): 1.99% gateway fee, 3% spread
  • Moonpay (Bank transfers): 1.99% processing fee, 1.5-3% spread + currency conversion fee
  • Moonpay (Credit/debit cards): 1.99% gateway fee, 4% spread + currency conversion fee
  • Moonpay (Apple Pay, Google Pay): 1.99% gateway fee, 4% spread + currency conversion fee
  • Coinmama: See Coinmama's fee structure

When buying cryptocurrencies through such methods, make sure to keep the minimum amount in mind to avoid problems.

ZenGo crypto trading fees

ZenGo charges a fixed processing fee of 0.5% for crypto trades, and the spreads can be up to 2%. The network fee is also imposed when executing trades. The spreads will vary depending on the chosen crypto trading pair.

ZenGo crypto withdrawal and selling fees

Crypto withdrawals to external crypto wallets carry a variable fee determined by the network and the congestion. The fee is usually high when network traffic is high, so it is better to withdraw your assets when the network traffic is low.

If you want to sell your cryptocurrencies for fiat, to be withdrawn to your bank account, Banxa charges a processing fee of 1.99%. The spreads when you sell crypto are usually between 1.5% to 3%.

What do the reviews and ratings show?

ZenGo has an excellent average rating of 4.6 out of 5 stars on the most popular reviewing platform, TrustPilot, from around 500 user reviews. There are over 80% 5-star reviews, with only around 9% of users dissatisfied with the wallet’s services.

On another reviewing platform called G2, there is a 4.6-star rating for ZenGo based on around 30 reviews. Users on Google Play store and iOS App Store have also given ZenGo a high rating.

How does ZenGo compare with the competition?

With hundreds of crypto wallets available, competition is tough. Compared with one of the most popular crypto wallets, MetaMask, ZenGo has a better security infrastructure. MetaMask is a non-custodial wallet, but it comes with key phrase encryption. However, the key phrase can easily be hacked and breached through several methods or can simply be misplaced by users. In contrast, ZenGo crypto wallet offers the highest levels of security with no private key vulnerability. Everything is based on the MPC cryptography system with facial and biometric recognition.

When comparing to hardware wallets such as Ledger or Trezor, ZenGo's advantage is that it is free to download and can be used easily on your phone at any time. You don't need to carry a physical wallet or risk losing it and/or the recovery phrase. There is no private key vulnerability, and guaranteed account recovery with ZenGo.

ZenGo also has better customer support than most crypto wallets. MetaMask or Trust Wallet do not have a dedicated customer support team, while ZenGo has 24/7 live chat. ZenGo crypto wallet is lacking a little when it comes to variety in cryptocurrencies, as competitors like Ledger, Trezor, and Coinbase wallet support thousands of assets. However, for the majority of users, the range of 80+ supported coins on ZenGo will be sufficient.

How safe is ZenGo?

ZenGo’s mission was to replace the traditional security infrastructure of crypto wallets and establish something that is more advanced, secure, and easier to use. They have succeeded by creating a non-custodial wallet with no private key vulnerability. There is no risk of private keys being stolen, and no need to worry about losing 24-word key phrases and therefore losing access to your funds. Thanks to Multi-Party Computation (MPC) and cryptography, your face is the ultimate security of your funds. ZenGo has also imposed a biometric verification system so that they can ensure the right person is accessing the funds. 

With ZenGo’s 3FA, you will never have to worry about losing access to your funds. They have made account recovery easy with the email address, encrypted biometric scan, and recovery tool kit. Now you can switch devices and access your portfolio without any worries. With the web 3.0 firewall, ZenGo also blocks all sorts of malicious attacks and hacks. Indeed, ZenGo is the most secure crypto wallet with the latest-gen features.

What makes ZenGo unique?

ZenGo is not only a simple crypto wallet but it also allows you to buy, sell, trade, and stake cryptocurrencies. Users can store more than 80+ popular cryptocurrencies, and they regularly add support for new coins. ZenGo has also partnered up with WalletConnect to open the portal to NFTs, DeFi, gaming, and other web 3.0 features. You can explore a whole new world of digital art and virtual reality and see how it can benefit you.

ZenGo's main point of difference is the security system, with no private key vulnerability, and powered by MPC cryptography instead. This ensures that your crypto is always safe from hackers, and also means that you never have to worry about losing access to your own funds.

Frequently Asked Questions

Is ZenGo crypto wallet legit?

Yes, ZenGo is a legit and safe crypto wallet, released back in 2018, and currently has more than 700,000 users. ZenGo has also been endorsed by several big media outlets.

How can you buy cryptocurrencies on ZenGo?

ZenGo partners with third-party payment merchants like Banxa and Moonpay to facilitate the purchase of cryptocurrencies. You can use your credit/debit cards, e-wallets, direct bank transfers, and other methods to purchase crypto.

Is ZenGo available in the US?

Yes, ZenGo is available globally including in the US. Some cryptocurrencies on ZenGo are not available for specific jurisdictions, but you will get the same services offered by ZenGo everywhere.

Is it safe to use ZenGo?

Yes, ZenGo is the most secure crypto wallet you can find. It uses an excellent cutting-edge security system based on MPC cryptography, biometrics, and 3FA infrastructures. 

What cryptocurrencies does ZenGo offer?

ZenGo offers over 80+ different crypto assets. You will find all of the most popular coins here, including BTC, ETH, USDT, DOGE, and more.

Can you trade crypto on ZenGo?

ZenGo offers a quick trade or swap option, which allows users to trade their coins instantly with other coins.

Conclusion

If you are tired of keeping your key phrases of your crypto wallets safe, then it might be time to replace those wallets with a more secure and efficient option. ZenGo is the first non-custodial cryptocurrency wallet with no private key vulnerability and guaranteed wallet recovery. 

ZenGo crypto wallet has never been compromised since they use some of the best security systems in the world. With MPC cryptography and biometric scans, you alone are in charge of your funds. You can connect thousands of DApps with ZenGo and check out NFTs, DeFi, and games. With exceptional 24/7 customer support, a growing community, and endorsements from big media outlets, ZenGo is definitely a wallet to consider.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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