ZenGo Software Wallet

Remembering cryptocurrency private keys can be challenging. However, the world’s first keyless wallet, ZenGo, has made it more accessible. You can easily control your funds without having to keep up with passwords, private keys, and seed phrases. When dealing with cryptocurrencies, the user needs to remember the private keys or long seed phrases. You might require a hardware wallet to store the keys securely. The ideal solution is a software wallet like ZenGo. It lets you trade without any restrictions on minimums or maximums. Remembering cryptocurrency private keys can be challenging. However, the world’s first keyless wallet, ZenGo, has made it more accessible. You can easily control your funds without having to keep up with passwords, private keys, and seed phrases. When dealing with cryptocurrencies, the user needs to remember the private keys or long seed phrases. Or you may require a  hardware wallet to store the keys securely. The ideal solution is a software wallet like ZenGo. It lets you trade without any restrictions on minimums or maximums.

What is ‘ZenGo’?

ZenGo grabbed the attention of most crypto investors when the company launched its keyless software wallet. Both Android and iPhone device users can take advantage of all the features provided by this non-custodial wallet. Crypto investors can buy the coins and tokens from this application using their Apple Pay account or credit card. ZenGo wallet provides excellent security because it comes with Multi-factor authentication.

Why do you need to buy ‘ZenGo?’

You can easily install the ZenGo app on both Android and iPhone devices. There won’t be any issues while making transactions, even for new crypto investors. If you are looking for a software wallet that lets you buy or sell in a few taps without having to remember the passwords, ZenGo is the best decision.

Key Features of ‘ZenGo’

  • Supported for Mobile Device: Currently, the ZenGo app is available for iPhone and Android device users. From the app store, you can download ZenGo wallet on Android and iOS.
  • Cryptocurrencies Supported: It supports 70 cryptocurrency assets and tokens.
  • Keyless Crypto Access: In most cryptocurrency wallets, you must remember the recovery seed phrases, private keys, and passwords but, it is not the same with ZenGo. It is a keyless crypto wallet app.

Key Security Features of ‘ZenGo’

  • Threshold Signatories: ZenGo uses threshold signatories to share the generated mathematical secrets between two parties independently. One share will be stored on the crypto investor’s mobile device and another on the app’s server. Even if something happens to the device or the server, the investor’s assets will remain safe.
  • Secure Funds: In case ZenGo is not operational, the Escrow will get a request from the Trustee to send the decryption key to GitHub’s dedicated account.
  • Three-Factor Authentication: Unlike most crypto wallets, you will find three-factor authentication features in ZenGo. After confirming the email address and backing up the file, the app will use a face map to restore your account.

How do Threshold Signatures Work?

Generally, users cannot have the benefits of both custody and convenience of their crypto funds. However, ZenGo changes the goalpost by harnessing the power of “Threshold Signatures” to provide high-grade security in non-custodial wallets.

The system works as follows.

  • Instead of storing the private key on a separate device like a smartphone (risk of loss or theft), ZenGo divides the private key into two sections. One part is stored on its server, while the other is stored on the user’s smartphone. Private key computation will not occur unless both components interact, providing an additional layer of security.
  • As users sign up for ZenGo, it scans their facial features and stores an encrypted backup on the user’s cloud storage. It has the benefit of being accessible even if the user loses the phone. In addition, a quick face scan can re-authenticate to decrypt the private key stored on the Cloud and allow access to the crypto funds. 

How to use ‘ZenGo: Step by Step Instructions

  1. Go to zengo.com and select between Google Play Store and App Store, depending on the mobile device.
  2. After downloading the wallet on your mobile device, open the ZenGo wallet.
  3. Enter your email address. Check the email for the verification process and click on “Confirm.”
  4. In the app, click on “Enable Device Lock.” You have to add a code to lock the device.
  5. Add your fingerprint so that others can’t use the wallet. Your account is fully set up.
  6. From the menu, you need to click on “Deposit Funds” to access the wallet.
  7. Choose an asset to deposit. We will take the example of Bitcoin to deposit our money.
  8. Before a user makes a deposit, their biometric data is created. Using a face map, your biometric data will be captured. You need to click on “Continue.”
  9. Fit your face in the provided space. Then, click on “Done.”
  10. Then, click on the cryptocurrency that you want to purchase. For instance, click on the “Buy Bitcoin” option to add Bitcoins to our wallets.
  11. You have to fill in some details in the dialog boxes, like the name and date of birth.
  12. Then, simply provide the credit card details to make an instant purchase. Follow the instructions to complete the transaction process and successfully add cryptos to your wallet.

ZenGo Pros and Cons

ProsCons
No need for recovery seed phrases or private keysNot fully non-custodial
Earn interest on their crypto with no lock-upNeed to store Keyless Recovery Backup
One tap customer care serviceConfusing for crypto beginners
Most accessible wallets to set upNot available in some countries
Buy and sell within the app
Free Bitcoin and bonuses
Three-factor authentication

Conclusion

We hope now you understand the features and benefits of using the ZenGo app on Android and iOS devices. It is easy to manage ZenGo. Features like easy navigation and 3FA security make the app helpful and user-friendly. The company provides a unique combination of crypto assets to invest in cryptocurrency safely. You can earn free Bitcoins after making the first deposit in the app. Trading in cryptos has never been easier before. ZenGo ensures that your crypto funds are secure all the time. 

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