ZenGo is described as a global, decentralized crypto wallet that does not have any KYC requirements. This makes it easy to access crypto with a simple, flawless onboarding process. As per the vendor, the wallet provides all the benefits of a self-custodial wallet solution devoid of dangerous drawbacks such as private keys to store, lose, or forget.
What is ZenGo?
ZenGo is a non-custodial keyless crypto asset wallet. This means that the company or the user does not hold the private key since it never gets created.
|Supported hardware wallet||No|
|Charges||Zero fees for storing, sending, or receiving crypto, but charges network fees, processing fees, local currency conversion fees, and spread fees|
How does ZenGo work?
This software allows you to store and manage your digital assets safely online. Using advanced cryptography, the team behind the service says it has eliminated the single point of failure synonymous with custodial wallets that store private keys on their servers. Being keyless, the ZenGo server stores an encrypted copy of your device share, and the decryption code is stored separately in your personal cloud account. So, you can only access the encrypted share only with your biometric face map.
Features of ZenGo
The features of the software are listed below:
- It offers a referral program.
- All the cryptography is open-source, so it can be audited by anyone publicly.
- An e-wallet service (Chill Storage) is offered to ensure you can access your funds even if ZenGo were to cease its operations.
- It has been thoroughly audited.
- A ZenGo payment card powered by Visa is available.
What kind of wallet is ZenGo?
ZenGo is a hot wallet. So, it’s a form of digital storage that is accessible through your phone or computer and is linked to the internet.
How to send cryptocurrencies using ZenGo
In order to send cryptos using this platform, you need to follow the steps below:
- Swipe right on the asset you want to send in the Home Screen. Alternatively, tap on the asset and then tap the “Send” button
- Key in the amount you desire to send in your preferred currency
- Enter the sending address
- Prior to completing the transaction, a summary screen will pop up, allowing you to confirm all the details before sending
What currencies does ZenGo accept?
ZenGo supports a variety of coins. Examples include Bitcoin, Ethereum, Binance coin, Tether, Luna, Polygon, Chainlink, Dogecoin, Shiba Inu, Dai, Tezos, and many more.
Is ZenGo safe?
The company uses 2 mathematical secret shares that have been created independently. One of the shares is stored on your mobile gadget, while the other is kept on the server. Since there is no single point of failure, your assets will remain safe even if something happens to any of the shares. The company can never access your funds.
Does ZenGo wallet charge fees?
ZenGo allows you to send, receive, and store your cryptos safely free of charge in any part of the world, without restrictions. However, there are some services that will attract some fees, which do not necessarily go directly to ZenGo. These fees include network, spread, processing, and local currency conversion fees.
Customer support and reviews
There are various support options for this service. If you have any questions, you can email the team directly. Alternatively, you can visit its help section and type your question. A live support chat is also available to help you with your queries.
Going by the 2.2 rating for this software on Trustpilot, it is clear that clients’ experiences with it are bad. Some of them have complained about losing money on the platform. Another claim is that the customer service offered is useless.
As mentioned earlier, using the software is free. The vendor says that it will remain free for the near-term. However, they plan on adding premium paid services in the future.
ZenGo vs competitors
ZenGo’s facial recognition feature sets it apart from its competitors. Unlike many other crypto wallets that require you to set your own password, ZenGo allows you to control your funds with facial biometrics. According to the vendor, this makes the wallet the fastest and safest setup in crypto.
Final thoughtsFinal thoughts
- A referral program is available
- Is keyless
- Most of the services are free
- Negative customer feedback
- Doesn’t support numerous currencies compared to other crypto wallets