Are you curious to know how Zengo increases crypto wallet security? If yes, then you are at the right place. Read this article as we have shared the reason behind its success among other crypto wallets.
What is Zengo?
Zengo is a crypto wallet that allows users to quickly access their funds, make transactions, and connect with various blockchain networks. Zengo provides theft protection as it is designed with the best security features that address the weakness in seed phrases by providing solutions like multiparty computing cryptography. The MPC guarantees no single entity owns all the keys, which makes it difficult for malicious actors to compromise wallet security. Zengo uses your face, recovery file, and email to keep your assets safe. Also, it doesn’t control your cryptocurrencies. Moreover, the Cryptocurrency wallet Zengo has introduced some new features with a new subscription plan called Zengo Pro.
How Zengo Increases Crypto Wallet Security?
If you want to begin a transaction from your Zengo wallet then all parties need to approve the transaction. In this situation, the secret shared will stored on your device and the secret shared stored on the Zengo server is required. Zengo provides you safety as in case you lose your phone or it stops working then you can easily recover your wallet on the new phone by using the recovery file that is stored in one of your online cloud storage accounts like Dropbox or iCloud Drive. However, you need to confirm your actions from your email.
Moreover, Zengo Pro users require a face scan for the transactions, this way even if someone knows the password of your account they will be unable to use your wallet. Also, Zengo wallet will alarm you if you are going to send money to the scam with a new risk assessment system (a so-called “web3 firewall”).
6 Best Features of Zengo
Below, we mentioned the 6 best features of the Zengo wallet that help to increase your crypto wallet security.
- Keyless Security: Zengo uses the private key to ensure that the assets are secure from potential threats.
- Real-Time Alerts: It keeps you updated with instant transaction notifications that allow checking your wallet’s activity easily.
- Easy to Recover: Zengo provides a simple and easy recovery process to retrieve your wallet.
- Extra Layer of Security: It uses the face ID integration, which adds an extra layer of security and ensures that only authorized users can access the wallet.
- Cryptocurrency Support: With Zengo, you can handle multiple types of cryptocurrencies in one place.
- Easy to Use: Zengo has a simple and insightful interface that makes it approachable to beginners in the crypto world.
Zengo Wallet is Best For?
- Zengo is best for cryptocurrency owners who forget their seed phrase or are worried about losing their passwords.
- For the crypto owners who want additional security.
- It is the best choice if the owners want to be able to pass their belongings to friends and family.
FAQs
Q: Can I trade on Zengo?
A: As a multi-chain cryptocurrency wallet, Zengo offers over 180 cryptocurrencies including, Bitcoin, Ethereum, and Polygon.
Q: What countries is Zengo available in?
A: Zengo has a worldwide presence and can be accessible in the majority of the countries. However, it is currently unavailable in some countries due to due to local regulations.
Q: What makes the Zengo wallet different from other traditional wallets?
A: Zengo provides safety and security from hacking attempts as it uses multiparty computing cryptography (MPC) that eliminates vulnerabilities linked with traditional seed phrases.
Final Words
In this article, we have mentioned how Zengo increases the crypto wallet security as a secure crypto wallet that has no private key vulnerabilities. Also, it allows you to buy crypto easily and securely with its advanced features like threshold signatures, MPC security, and 3FA.
