Software wallets come in all shapes and sizes. What most of them have in common is their excellent usability, quick and easy interaction. However, just a few of the solutions on the market have a flawless reputation when it comes to security.
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ZenGo is intended to bring software wallet security to the next level by eliminating the risk of having a single point of failure.
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The bottom line – even if someone penetrates your hot wallet, he simply won’t be able to steal the funds. How so? Through dividing the private key into two parts and decentralizing its storage on the company’s servers and your device. That way, a transaction can’t be authorized without interaction between both parts of the key.
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While the security model isn’t as robust as with the most advanced hardware wallets, the truth is ZenGo hasn’t been hacked yet. Furthermore, its team is very much invested in security and conducts ongoing research and analysis to develop new and better mechanisms to protect user funds.
But ZenGo isn’t only about security. The wallet has a fantastic UI and is very beginner-friendly. It is stacked with many great features, including the option to buy, trade and sell crypto in just a few taps, support for various payment methods, 24/7 human support, fair and transparent fee policies and an interest-earning program where up to 5% APY can be earned on BTC.
