July 14, 2024

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A Review of the ZenGo Mobile Wallet

ZenGo is a mobile wallet that uses facial biometrics to authenticate users. It then stores a backup of the private key share in an encrypted format on a user’s personal cloud storage. This backup can be restored quickly on a new device and can be used to re-access a wallet. This makes ZenGo a safe way to store your cryptocurrency.

ZenGo supports several different cryptocurrencies. For example, it can be used to buy bitcoin, and it supports credit cards, debit cards, Apple Pay, and bank wire for EU/UK residents. The app also features a library of high-quality content, including helpful articles, videos, and podcasts. It has received high ratings on the App Store and has minimal customer support issues.

ZenGo offers a secure wallet that is free for users. Its multi-party computation means that no single party is in control of user funds. Additionally, it is easy to use and does not require any extra documents. The system also allows for simple cryptocurrency transactions, and users can send, receive, buy, and sell crypto.

The wallet supports more than 180 currencies, and a user can purchase cryptocurrencies using their preferred payment method. Once they purchase crypto, ZenGo will send them to a non-custodial wallet in minutes. The wallet can also be used as a savings account, allowing users to earn daily interest and rewards on their crypto.

Another feature of ZenGo’s wallet is its ability to earn compound interest on funds held with it. Users can earn interest by staking coins on blockchains using proof of stake. To use this feature, a user must first create a ZenGo account. Afterwards, a user can purchase cryptocurrencies using a credit card or the MoonPay API, allowing the payments to be processed directly into their wallets. Users can also trade cryptocurrencies within the Swap tab of their ZenGo wallet. It offers competitive fees of 0.125% and can complete transactions within 30 minutes.

To protect user privacy, ZenGo uses 3D biometric facial recognition software to authenticate users. The system scans the user’s face at the time of account creation and stores the data on its servers. If the user’s account is lost, the data can be recovered with the 3D biometric data. It eliminates the need for a long seed phrase. Users can also purchase cryptocurrencies directly from ZenGo and store them in the wallet immediately.

Another benefit of ZenGo is that it supports selling bitcoin for cash. Users can sell their coins in the United States, UK, and European Union using their accounts. The system also allows users to exchange cryptocurrency and trade digital assets with zero fees. However, the users must verify their identities to use the wallet. There are three verification levels: basic, intermediate, and advanced.

ZenGo is a secure and easy to use crypto wallet. It is also the first Web3 wallet to eliminate the vulnerability of private keys. Moreover, it allows users to earn 8% interest on cryptoassets. Users can also use NFT & DeFi Dapps, which makes the software unique among other cryptocurrency wallets.