We’re different in two main ways:
1. Better security without seed phrase or private key risks
The “be your own bank” model is promising in theory, but for most people, bank-grade security is harder to implement than it sounds, which leads to human error and loss of funds. On the other hand, leaving your funds in a custodial wallet is also risky. An estimated $2.7M is stolen from custodial wallets by hackers every day.
Using advanced MPC cryptography, we’ve removed the single point of failure that exists with custodial wallets that store private keys on their servers and self-custodial wallets that store private keys on your personal phone or computer.
With Zengo, there are no private keys to lose. We are a genuinely keyless wallet, and while incredibly easy to set up and use, we made it really hard for hackers to take over your crypto account or for you to lose your wallet.
We also made it very easy to recover your wallet if you lose or change your phone and even if Zengo stops one day its operations
2. Better Transaction protection with Clearsign: the web3 firewall
Zengo offers unique protection when you use web3 applications like NFTs of Defi with Clearsign, a unique Firewall that clearly informs you ahead of risky transactions and avoids falling for phishing attacks or scams
3. Ease of use and outstanding customer experience
We deeply understand the problems with using crypto wallets today -- namely that they are clunky and confusing. So we’ve put a lot of thought and work into building the easiest and most enjoyable wallet for our customers. This is one of our core principles and will always be a top priority for us (right after security).