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This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
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A wallet that is “open source” makes its software code public (e.g. on Github). Either the entire program code or at least significant parts of it are publicly accessible. This has the advantage that many parties can review the code and security gaps or other vulnerabilities are discovered and improved more quickly.
The so-called "private key" is a unique sequence of numbers and characters and the private key that gives you direct access to and control over your cryptocurrencies. The private key is used to sign transactions. In simple terms, it can be seen as a digital fingerprint that proves that you are the owner of the cryptocurrencies. If you store your cryptocurrencies on so-called "custodial wallets" (e.g. crypto exchanges), you are not the owner of your private keys.
The anonymity of “non-custodial wallets” is generally relatively high. However, there are differences between providers when it comes to collecting and storing user data. There can also be differences in the ordering process for hardware wallets as to which user data is stored and for what period of time
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
Some wallets offer an integrated trading function within the wallet to buy and sell cryptocurrencies directly. This functionality is usually made possible by a connection to the web interface of an exchange. The integrated trading function in wallets offers enormous advantages: cryptocurrencies can be bought in the same place where they are to be stored. The manual transfer of cryptocurrencies from an exchange to your own wallet is therefore no longer necessary, which can save time and money.
Multisignature wallets or multisig wallets are wallets that require at least two private keys to sign a transaction. This additional process makes it possible to greatly increase security against unwanted access, for example through personal threats. This security mechanism is particularly useful when storing particularly high assets.
If the hardware wallet or the device with the corresponding software wallet is lost or damaged, there is no need to panic. As long as you have your private key or recovery seed (also called “seed phrase”) in your possession, you can restore your wallet at any time. The recovery seed is a combination of 12-24 words and is the most common backup method for wallets. Important: Keep your recovery words and private keys secret and never share them with other people!
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ZenGo is pioneering an innovative approach with its "Keyless Wallet". The wallet is designed with a strong emphasis on beginner-friendliness and usability. Traditional processes involving recovery words (seed phrase), backups, and verification can often be cumbersome. ZenGo eliminates these hurdles with a hybrid solution: instead of a private key, two "secret shares" are created. One share is stored on ZenGo's servers and the other on the user's mobile device. ZenGo cannot access the stored assets but can still assist in restoring a backup if needed. Verification is accomplished through biometric facial recognition. This approach significantly enhances usability, making ZenGo highly recommended for beginners. However, crypto purists who prefer full control over their private keys may want to consider another wallet. For everyone else, we endorse ZenGo and concur with the positive user reviews.
Zengo
Overview
Quick Facts
ZenGo is a crypto wallet known for its exceptionally simple operation and backup processes. ZenGo eliminates the need for recovery words or private keys due to its use of biometric facial recognition and keyless wallet system.
Informations
Pro's & Con's
- Innovative keyless approach enhances usability.
- Ideal for beginners with a focus on simplicity.
- Biometric facial recognition for secure verification.
- Eliminates the need for traditional recovery phrases and backups.
- Positive user reviews and endorsements.
- Lacks full control over private keys, which may concern crypto purists.
- Reliance on ZenGo's servers for part of the security.
- Limited customization options for advanced users.
- Some users may prefer more traditional wallet setups.
Zengo
Hardware
Offer and features of
Zengo
Functionality
Unique Features
- Lending (earning interest)
- Web3 connection through WalletConnect
Platforms
Our
Zengo
Review
Test Result
Conclusion
ZenGo is pioneering an innovative approach with its "Keyless Wallet". The wallet is designed with a strong emphasis on beginner-friendliness and usability. Traditional processes involving recovery words (seed phrase), backups, and verification can often be cumbersome. ZenGo eliminates these hurdles with a hybrid solution: instead of a private key, two "secret shares" are created. One share is stored on ZenGo's servers and the other on the user's mobile device. ZenGo cannot access the stored assets but can still assist in restoring a backup if needed. Verification is accomplished through biometric facial recognition. This approach significantly enhances usability, making ZenGo highly recommended for beginners. However, crypto purists who prefer full control over their private keys may want to consider another wallet. For everyone else, we endorse ZenGo and concur with the positive user reviews.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
Zengo
User Reviews
Most of our users say that Zengo is simple and easy to understand. For what I've been told, the app is well designed and easy to use. It has step by step tutorials on setting up the wallet and simple to send and receive money. There are some specific features that users have suggested as areas for improvement.
Zengo offers a variety of features that have been well received by users, including support for purchasing cryptocurrencies directly from the app. However, some users would like more advanced features, such as built-in trading capabilities or advanced analytics tools.
Zengo is praised for supporting a range of cryptocurrencies. The wallet supports popular cryptocurrencies such as Bitcoin and Ethereum, but also a number of altcoins. However, some users would like to see an even wider range of supported cryptocurrencies, especially when it comes to lesser-known or newer altcoins.
Zengo is praised for its innovative approach to key management and security. The use of threshold signatures to avoid a single point of failure is viewed as a positive. However, some users express concerns about the trust aspect, as part of the security responsibility lies with Zengo.
The Zengo Wallet is often described as being particularly beginner-friendly. Users praise the wallet's ease of setup and use and the well-designed tutorials and guides. However, some users note that despite the general user-friendliness, a certain amount of training time is required.
Overall, user experiences with Zengo support are positive. Users report quick and helpful responses to their questions. The availability of support through various channels, including email and social media, is also highlighted positively. However, some users express a desire for live chat support directly in the app or website.
In summary, Zengo receives mostly positive reviews, particularly for its ease of use and innovative security architecture. Users appreciate the ease of setup and support for multiple cryptocurrencies, although some would like more advanced features and a greater variety of supported assets. Opinions on beginner-friendliness are mostly positive, with some users mentioning some learning curve. Customer experience with support is also mostly positive, with a desire for live chat support. Overall, experiences are mostly positive, indicating general user satisfaction with Zengo.
About
Zengo
Zengo
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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