ZenGo Wallet Review

To start off our ZenGo wallet review, let’s cover some of the core benefits that you may expect to receive whilst using the wallet in question. Admittedly, there are actually quite a few interesting features to cover, too! One of the most evident of these is the fact that ZenGo is a non-custodial wallet.

A Non-Custodial Cryptocurrency Wallet

Among the different industry jargon that you can often hear thrown around, “non-custodial” is a term that comes up rather often. This is especially true in regards to crypto wallets and exchanges – this ZenGo wallet review is no exception, either.

What do “custodial” and “non-custodial” stand for? In layman’s terms, “custodial” refers to a crypto service ‘holding’ your wallet private keys, and in turn, theoretically having access to your crypto assets, as well.

As opposed to that, non-custodial wallets put all of the responsibility in your hands – you are the only one that controls your own private keys. This is a bit more dangerous, since there are absolutely no guarantees on the wallet’s side of things, if something were to happen to your cryptos – all of the responsibility lies in your hands.

On the flip side, multiple ZenGo reviews will tell you that this is actually the way to go. If you want to truly feel safe regarding your cryptocurrencies and crypto tokens, knowing that you’re the only one having access to them can be very reassuring.

What’s the deal with ZenGo, then? Well, in short, ZenGo is a non-custodial wallet – meaning, you’re the solemn party that has access to your own funds.

Well…. Kind of. ZenGo’s security model is actually rather unique.

With the wallet in question, you’re not going to have any private keys. Instead, they are replaced in favor of two unique signatures – one belongs to you, while the other one is stored on ZenGo’s servers.

What does this mean to the user? Well, looking through the crypto enthusiast ZenGo wallet reviews found online, you’ll learn that, even if your device were to be compromised, with ZenGo having the other unique signature, this would add an extra layer of security to your wallet – and a reliable one, at that!

With a very unique approach to private keys and their “replacement”, ZenGo is able to remain non-custodial, while still providing certain guarantees to its users, in regards to security. While this is awesome in of itself, it’s actually just scratching the surface.

Major Emphasis on Security

As you might be aware of by now, there are few things in crypto that get as much attention and emphasis placed on them as the topic of security. Even before you acquire your first crypto coin or token, you’ll be hearing about security quite a bit.

And you should, actually! Even with all of the security talk that are present in the space, and the topic being explored and seemingly drilled into newbie crypto enthusiast minds on a constant basis, there are still plenty of horror stories about individuals downloading a keylogger, getting their assets tolen, and all of their accounts compromised.

ZenGo utilizes a variety of different features in order to guarantee that your assets remain safe and sound. They begin with the above-discussed “keyless wallet” functionality. With two different signatures stored on both your device, as well as ZenGo’s servers, the company emphasizes that there remains no single point of failure, thus minimizing the chances of a potential break-in.

On top of that, all of your transactions are encrypted, in a specific sense. Meaning, ZenGo will not see what you do with your assets – where you send them, trade them, or who you receive them from. All communication happens with the server, and the company does not interfere or have access to this information.

Two major benefits that cannot be ignored are the fact that ZenGo cryptography is open-source, as well as that the wallet is constantly being audited. Being open-source, it guarantees that the code behind ZenGo’s cryptotography is transparent and issue-free, and that it can be checked at any point in time, by anyone who would like to do so.

Furthermore, the frequent audits are also a huge point to consider, as well. They showcase the commitment that ZenGo has to keeping its users informed and assured on the services that the wallet provides. This is actually something that isn’t mentioned all that often in user ZenGo wallet reviews – a shame!

How to Use ZenGo?

As per tradition, we’ll finish off our ZenGo wallet review by taking a closer look at how you can set your wallet up, and start using it.

ZenGo claims that the registration and setup process shouldn’t take more than 20 seconds. Let’s see if that’s really the case, shall we?

How to Register on ZenGo?

Starting off, let’s download the actual app itself. I’ll be using an Android device, although the process is extremely similar on iOS, too.

Step 1: On your phone, navigate to the ZenGo app that you have downloaded.

Step 2: You will be asked to enter your email address, and a referral code, if you have one. Do so.

Step 3: Next, you’ll need to confirm your email address. This is a pretty standard process. It has to be done from the same device that you are using ZenGo on, though!

Step 4: Once you confirm your email, you will then be asked to enable Device Lock. This will allow you – and ONLY you – to scan your fingerprint, and unlock (enter) the app this way.

Step 5: Once you do all of that, that’s practically it! You now be able to explore the app, check out all of the available features, and set everything up to your liking.

Truth be told, ZenGo wasn’t lying – if you have already signed in to your email on your device, the “registration” process is truly super-quick! All that you really need is an email account, and you’re set to go!

How to Send / Receive / Buy / Sell / Trade / Earn Cryptocurrencies on ZenGo?

That’s a hefty list of processes, yes. However, all of them can be performed from a single screen on ZenGo.

On your wallet, at the bottom menu row, press the “Actions” button. This will take you to a separate screen where you’ll find all of the aforementioned processes.

Now, all that you need to do is pick the process that you want to, well… Perform.

If you want to receive cryptocurrencies, you’ll need to perform the earlier-discussed biometric backup. Then, all that you’ll have to do next is choose the crypto that you’d like to receive, and a wallet address will be generated for you – the process is the same as with any other major multi-currency wallet out there.

From here, you may also trade, send, and earn cryptos, too. Earning them references the APY functionality of ZenGo – you simply dedicate part of your savings (in a specific cryptocurrency) to a savings section on the wallet, and earn a passive yield over time.

Now, if you want to buy crypto, as we’ve already discussed earlier in the ZenGo wallet review, you’ll be able to do so with a credit or debit card, Google Pay, or a bank transfer. Naturally, you will need to perform the biometric backup before doing so, too, but the rest of the process is very self-explanatory. ZenGo does a good job of guiding you through it, too!

Conclusions

To conclude this ZenGo wallet review, I have to say – while the wallet in question may not be the most popular hot storage solution on the market, with the features that it has available at this time, combined with those yet to come, it might definitely become one!

ZenGo is a very interesting piece of software, and has a whole lot to offer to its users. We’ve covered all the main benefits that you can expect to receive while using this platform, but there are new and improved features that are constantly being added to the wallet.