- ZenGo
- Centralized Wallets
- Decentralized Wallets
ZenGo | Centralized Wallets | Decentralized Wallets | |
No private key. Self-custodial | The wallet operator manages a private key on your behalf | The private key is stored on your device | |
No KYC Required | |||
Funds Are Non-Custodial
You have full control of your fund and they are verifiable at all times on the blockchain
| Your funds and private keys are in custody in a central system and are not verifiable | ||
Keyless Security
No possible attack on the private key
| No private key. MPC / Threshold Signatures | ||
Fast Setup
< 10 sec
| Often time requires a long sign up process, KYC and / or downloading additional software for 2FA | At a minimum requires writing down a 12-24 word mnemonic phrase and storing it somewhere "safe". it's the only way to recover | |
Fast Recovery
< 10 sec
| Very Fast | Recovery only possible if you remember your password and have access to your 2FA app | Recovery only possible if you saved your seed phrase |
Distributed Security Model
Versus single point of failure
| Even if ZenGo is hacked, the attacker cannot access your funds | If the operator is hacked, your funds may be jeopardizes | If your device is hacked, your funds may be jeopardized |
Password-Free Security | Doesn't require to write, remember, or store any password or text | ||
Owner Guaranteed Protection | Guarantees only the owner can access funds | Wallet operators are routinely hacked and customers funds are lost | Whomever has your private key can spend your funds |
Systemic Guaranteed Access | Guarantees 100% of your funds are available if ZenGo stops operating | FeatureSome operators offer minor fractional insurance, never 100% | Only if you have your backup, no guarantee, no insurance |
SIM-Jacking Resistant | Often times account is protected by SMS 2FA which makes it susceptible to SIM jacking | Often times users store their seed phrase or password in a software like Gmail or Dropbox which is vulnerable to SIM jacking | |
Recovery Protection Guarantee | Backup is mandatory before any deposit | You can skip backup and still deposit funds | |
So Simple, Even Your Grandparents Can Use It | Buy Now | Buy Now | Buy Now |