ZenGo Wallet Review

The rise of the crypto economy and the surge in the popularity of digital assets has further highlighted the need for having a secure and reliable solution for their storage. Each cryptocurrency wallet hack and theft that has taken place over the years has provoked further technology improvement and the development of new, advanced security features.

This natural evolution in the field is precisely what gave birth to the ZenGo wallet review. In the following few paragraphs, I will focus on the pros and cons of the first keyless wallet and cryptocurrency app and what makes it stand out compared to other crypto wallet apps.

zengo wallet app review

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About ZenGo – One of the Best Crypto Wallets

ZenGo is a crypto wallet app launched in early 2020 with the goal to address the complexities of hardware wallets and the security issues of software wallets. Alternatively, it wanted to become the solution that takes the best out of both worlds to bring the masses a secure yet intuitive and easy-to-use wallet app.

ZenGo is the first keyless non-custodial crypto wallet. But what does this mean?

To skip the technicalities and say it in simple terms:

ZenGo has a different approach to crypto security and storage than traditional non-custodial wallets, where you would normally be forced to memorize and/or securely store a 12-24 seed phrase.

I’m sure you’ve heard stories of people losing their secret keys and therefore their crypto forever! ZenGo’s bulletproof 3-Factor authentication process ensures that

  1. No one but you can control your crypto
  2. Your wallet is backed up, so even if you lose your phone, you can recover your crypto through a simple 2-step verification process.

Furthermore, accessing your crypto holdings is easy as it is authorized through advanced facial biometrics. While the ZenGo Keyless wallet technology is really impressive in terms of security, design and simplicity, it has some flaws, but more on this in a minute.

Through the ZenGo app, you can buy, sell, store, and receive crypto easily and directly from your phone. The supported crypto assets include Bitcoin, Ethereum, Dogecoin, Binance Coin and many more.

The non-custodial wallet app is available for iOS and most Android devices.

It supports various payment methods, including credit or debit card payment, Apple and Google Pay, bank transfer and more.

The ZenGo project was founded by the KZen Networks and has received the backing of many prominent investors. In 2020, the company processed over $100 million in crypto transactions. As of the start of 2021, it has over 300,000 crypto users.

Click Here to Download The ZenGo App for Free

ZenGo Wallet Features

The ZenGo team claims its mission is to provide personal finance for everyone, everywhere and without any complexities. While the app is still at the beginning of its journey, it has set a stable foundation to build upon going forward. At that point, however, the features remain a bit limited and might not tempt those looking for an all-in-one crypto app.

Buy, Sell and Store Crypto Assets

The ZenGo crypto wallet app gives you an easy and straightforward way to buy, sell and store digital assets.

The setup is very user-friendly and lightning-fast. You can set your ZenGo account in less than a minute. Once you are done, you can start trading a wide (and continuously expanding) range of supported cryptocurrencies. Buying and selling are simplified to the maximum and take just a few taps to conclude a transaction.

The app partners with MoonPay to process credit cards, bank wires, Apple Pay, Google Pay (Mastercard only), Samsung Pay (Mastercard only), and GBP instant bank transfers. It also partners with Coinmama to process credit cards, Apple Pay, Swift, and SEPA payments.

The “Buy crypto” functionality is available to users from over 188 countries. However, before you are able to buy or sell crypto, you will need to verify your identity on MoonPay and/or Coinmama, depending on which one you will be using. You can find more about this here.

However, the selling feature is currently available only to users from 28 countries and regions (the US, UK, and EU included). According to the ZenGo team, other locations will be added soon.

ZenGo Savings

ZenGo offers you the opportunity to earn interest on a daily basis on the assets in your wallet.

There are two ways to earn passive crypto income – either by lending (loaning your crypto for others to borrow) through Nexo, or staking (contributing to the security of a proof-of-stake asset like the Tezos network).

There are no extra fees, aside from the network ones that you pay basically with every asset, and ZenGo even offers one free withdrawal per calendar month for any asset with Nexo! There’s a minimum deposit of 0.0022 Bitcoin, while with Tezos, the minimum deposit is 1 XTZ.

ZenGo Savings recently announced an opportunity to earn 5% interest on your Bitcoin through the end of January 2022! The offer is for up to $50,000 worth of Bitcoin, and you’ll earn 1% APY on any additional amount.

They’re also about to start offering updated APYs on stablecoins and additional assets, with some of the most competitive interest rates in the industry! Keep an eye out for the announcement.

Find out more about ZenGo Savings here.

ZenGo Fees

zengo fees

When using ZenGo to buy and sell cryptocurrencies, you will be charged several types of fees, although not all are attributed to ZenGo itself.

These include a network fee (for the blockchain operator of the particular asset), a local currency conversion fee, a spread, and a processing fee.

If curious about the complete fee policy, you can find more here.

In a nutshell, there are no processing fees, minimum and maximum requirements for users who send and receive crypto.

The fees for buying crypto depend on the payment method you choose and the terms of the processing service provider. In the general case, expect to be charged anywhere between 1.99% and 5.99%.

There is also a spread, the exact amount of which isn’t specified. Instead, the app states it is “a few %.”

The minimum requirements also depend on the payment processing provider but are between $20 to $100. With MoonPay, the maximum requirement depends on your identity verification level. With Coinmama, it is EUR 2,000 daily or EUR 10,000 monthly.

Network and currency conversion fees also apply.

Trading crypto is subject to a fee, in addition to a spread and the fee to the network. The minimum and maximum requirements depend on the trading pair and the available liquidity.

Crypto Wallet Security and Reliability

What really makes ZenGo a great wallet is its security technology. The employed security mechanism is far superior to the majority of the software wallets, developed by third parties like crypto exchanges.

The wallet eliminates the single-point-of-failure risk and gives you full control over your funds.

The threshold signatures model and multi-party computational models are features typical for some institutional-grade crypto wallet solutions. A proof of this is that ZenGo has never been hacked, even though it put out a hacking challenge for a wallet with 1 Bitcoin in it.

Another fact that shows that ZenGo’s team is dedicated to continuously-improving security is ZenGo X, a group composed of researchers from academia and industry that conducts its own research and collectively works to progress crypto security.

Furthermore, the wallet’s infrastructure is regularly audited.

Of course, this is not to say ZenGo is flawless (and the company recognizes it and promotes constant dialogue with its users in a bid to become even better).

One particular difference is that the wallet eliminates the use of seed phrases. Furthermore, with the infrastructure of the wallet ZenGo has developed, you are essentially storing your keys with two centralized authorities (your phone and their servers).

While lacking a seed phrase isn’t so risky, it doesn’t make the wallet 100% non-custodial since third parties store the data to recover your wallet. For many users, this won’t be a dealbreaker (and rightly so), but it is worth keeping in mind. True cryptocurrency believers usually insist on having a seed phrase stored in several secure locations.

Who Is The ZenGo Wallet Best For?

ZenGo is best for users who want a middle ground between the proven security of hardware wallets and the ease of use of software wallets. Alternatively, they are looking for something more secure than the average cryptocurrency wallet while remaining simple to use and understand. And with ZenGo, sending and receiving crypto is as easy as it gets.

Beginners will enjoy ZenGo due to its great UI (on both Android and iOS devices), convenient functionalities, and always-available 24/7 live customer support.

While the wallet supports a pretty good set of cryptocurrencies, it isn’t the best choice for investors who want access to DeFi protocols on Ethereum. At this point, ZenGo doesn’t support many ERC-20 tokens, but it plans to expand its coverage in the upcoming months.

ZenGo Review Summary – The Keyless Crypto Wallet for the Everyone

The ZenGo wallet shines in terms of security, UX, and UI. It looks after its users and has excellent customer support that is always available to assist, 24/7

The team behind the project continuously works to improve its offering and is highly invested in security development. They also try to initiate dialogue with their users and provide regular updates about the latest news around the company and the wallet’s features.

To sum up the essence of this ZenGo review, we can say that it gives users everything they need to buy, sell, receive and send crypto. It is a great solution if you want to ensure the easy and secure management of all aspects of your crypto portfolio through a mobile app. While not as popular as other solutions to date, the truth is that if you are looking for a software wallet, ZenGo must be among the first on your list.


  • Among the best software wallets in terms of security
  • Great UI and UX
  • Lots of supported assets
  • 24/7 customer support
  • A “Free Bitcoin” feature that gives you a $10 cashback on your first Bitcoin purchase;
  • An open and proactive team that promotes dialogue with its users.


  • Relatively high partner fees
  • Not 100% non-custodial
  • Limited availability in some of its services.

Overall Rating



Is ZenGo a Good Wallet?

Yes. ZenGo is a good cryptocurrency wallet and is available for iOS and Android. The app combines high security standards with an easy to use interface.

What say users about the ZenGo App?

The ZenGo App has 2,900 ratings on Google Play with an average score of 4.4/5 and 1,600 ratings on Apple App Store with an average score of 4.6.

About the author: Alexander is the founder of daytradingz.com and has 20 years of experience in the financial markets. He aims to make trading and investing easy to understand for everybody, and has been quoted on Benzinga, Business Insider and GOBankingRates.