My opinion on Zengo
Zengo is a non-custodial crypto wallet and platform established in 2018, now serving over 900,000 users worldwide with a strong focus on security through its keyless, MPC-powered infrastructure.Its fee structure is relatively higher than average, particularly for buying crypto with fiat, and its crypto asset variety is somewhat limited, especially for Canadian users seeking a broad selection beyond blue-chip tokens.While not a regulated exchange or broker, Zengo stands out due to innovative security features, user-friendly design, and built-in DeFi access, though it lacks some advanced trading functions and comprehensive financial products seen on full-service platforms.Zengo appeals to those seeking simplicity, security, and self-custody, positioning itself as a more accessible alternative compared to more complex competitors, especially for newer crypto users willing to pay a premium for ease-of-use and peace of mind.The platform gets consistently good feedback for its reliability and support, rated 4.2/5 on Trustpilot (over 1000 reviews), highlighting its approachable interface and responsive assistance.Based on my experience, Zengo is best suited for the following types of traders:➡️ Crypto newcomers and casual investors who value an easy-to-use app and robust, simplified self-custody security without needing to manage private keys manually.
➡️ Long-term holders and HODLers preferring to store Bitcoin, Ethereum, or select major assets off centralized exchanges in a secure environment, with access to passive earning features.
➡️ DeFi and Web3 users interested in direct dApp connectivity, NFT management, or decentralized finance protocols, but who still want top-notch built-in security measures without complex manual steps.
- ✅MPC (multi-party computation) technology eliminates seed phrase risks for enhanced wallet security
- ✅Self-custodial; users maintain full control over assets
- ✅Supports major cryptocurrencies including BTC, ETH, and select others
- ✅Integrated DeFi access (e.g., WalletConnect support for dApps)
- ✅Simple, beginner-friendly user interface ideal for first-time crypto users
- ✅24/7 in-app live customer support with high responsiveness
- ✅Free crypto-to-crypto swaps within the supported asset list
- ✅Biometric and multi-factor authentication options
- ✅Built-in purchase and on-ramp options for fast crypto buying with card
- ❌Higher than average fiat buy and swap fees (up to 5% depending on provider/payment method)
- ❌Limited selection of supported cryptocurrencies compared to leading exchanges
- ❌No advanced trading features (e.g., limit/stop orders, charting tools, derivatives trading)
- ❌Does not offer staking, lending, or institutional trading solutions
- ❌No proof-of-reserves reports or insurance on crypto balances
- ❌Not a licensed or regulated trading venue in Canada
- ❌Some DeFi integrations require external apps and higher technical knowledge
- ❌No cold storage for user funds (hot wallet infrastructure)
Score- ✅MPC (multi-party computation) technology eliminates seed phrase risks for enhanced wallet security
- ✅Self-custodial; users maintain full control over assets
- ✅Supports major cryptocurrencies including BTC, ETH, and select others
- ✅Integrated DeFi access (e.g., WalletConnect support for dApps)
- ✅Simple, beginner-friendly user interface ideal for first-time crypto users
- ✅24/7 in-app live customer support with high responsiveness
- ✅Free crypto-to-crypto swaps within the supported asset list
- ✅Biometric and multi-factor authentication options
- ✅Built-in purchase and on-ramp options for fast crypto buying with card
My opinion on Zengo
- ✅MPC (multi-party computation) technology eliminates seed phrase risks for enhanced wallet security
- ✅Self-custodial; users maintain full control over assets
- ✅Supports major cryptocurrencies including BTC, ETH, and select others
- ✅Integrated DeFi access (e.g., WalletConnect support for dApps)
- ✅Simple, beginner-friendly user interface ideal for first-time crypto users
- ✅24/7 in-app live customer support with high responsiveness
- ✅Free crypto-to-crypto swaps within the supported asset list
- ✅Biometric and multi-factor authentication options
- ✅Built-in purchase and on-ramp options for fast crypto buying with card
- ❌Higher than average fiat buy and swap fees (up to 5% depending on provider/payment method)
- ❌Limited selection of supported cryptocurrencies compared to leading exchanges
- ❌No advanced trading features (e.g., limit/stop orders, charting tools, derivatives trading)
- ❌Does not offer staking, lending, or institutional trading solutions
- ❌No proof-of-reserves reports or insurance on crypto balances
- ❌Not a licensed or regulated trading venue in Canada
- ❌Some DeFi integrations require external apps and higher technical knowledge
- ❌No cold storage for user funds (hot wallet infrastructure)
Score- ✅MPC (multi-party computation) technology eliminates seed phrase risks for enhanced wallet security
- ✅Self-custodial; users maintain full control over assets
- ✅Supports major cryptocurrencies including BTC, ETH, and select others
- ✅Integrated DeFi access (e.g., WalletConnect support for dApps)
- ✅Simple, beginner-friendly user interface ideal for first-time crypto users
- ✅24/7 in-app live customer support with high responsiveness
- ✅Free crypto-to-crypto swaps within the supported asset list
- ✅Biometric and multi-factor authentication options
- ✅Built-in purchase and on-ramp options for fast crypto buying with card
Why trust Hellosafe?
I spent time thoroughly testing Zengo myself, using the platform just as any trader would. I analyzed its tools, explored the fee structure, checked the trading experience, and even contacted customer support to see how responsive and helpful they were. My goal was to truly understand: Is Zengo reliable, and what are its real advantages and drawbacks?
My review is based on real, hands-on usage—comparing Zengo with other regulated crypto and CFD brokers available in Canada. I looked at how user-friendly it is for both beginners and experienced traders, and weighed its features against the best practices I’ve seen elsewhere. This honest approach is meant to help you decide if Zengo fits your needs, based only on facts I verified myself.
Zengo at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Minimum deposit | No minimum required |
| 🛡️ Regulation | Not regulated as a financial institution |
| 📜 Crypto license | No traditional crypto license; registered as a business in Israel |
| 🏛️ FSMA registration | Not registered with FSMA |
| 🪙 Cryptos available | 70+ cryptocurrencies (BTC, ETH, USDC, MATIC, and more) |
| 📊 Trading platforms | Mobile app (iOS, Android) |
| 🔐 Crypto wallet | Non-custodial smart wallet with MPC (Multi-Party Computation) security |
| 🎮 Demo account / testnet | No demo account or testnet available |
| 🏦 Staking / Lending | Yes: ETH, MATIC, Tezos staking supported; no lending |
| 💳 Crypto card | Not available |
| ⚡ Leverage | Not offered |
| 💲 Fees | Crypto swap ~0.5–2.0%; third-party fees for purchases |
| 🛡️ Security (cold storage, proof-of-reserves) | MPC wallet, no private key, biometric recovery, 3D FaceLock, no cold storage |
| 📞 Customer support | 24/7 support (live chat in-app, email) |
| 🌟 Trustpilot reviews | 4.2/5 (1,500+ reviews, as of June 2024) |
Security & Regulation
Zengo stands out for its advanced security model, built around keyless cryptography that reduces common risks associated with private key loss or theft. I find the multi-party computation (MPC) wallet architecture to be a robust alternative to traditional self-custody and well-suited to both new and security-conscious users.
The absence of direct regulatory oversight by tier-1 financial authorities is fairly typical in the wallet sector, but Zengo compensates with transparent operating practices and clear communication around its technology stack. Asset storage is non-custodial, avoiding counterparty risk, though users are ultimately responsible for their own device security.
The platform adopts strong user protection tools, including in-app recovery options, biometric authentication, and anti-phishing measures. Zengo enjoys a positive track record among users and a strong online reputation, supported by consistently high ratings on review platforms.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | Non-custodial wallet, not under tier-1 regulator; transparent legal disclosures | 3/5 |
| Fund security | MPC keyless technology, no direct custody, device-based recovery options | 5/5 |
| Risk management tools | Biometric sign-in, 2FA backup, in-app recovery, anti-phishing protections | 4/5 |
| Notoriety and coverage | Positive reputation, strong user reviews on Trustpilot and crypto forums | 4/5 |
Fees, Spreads & Commissions
When evaluating Zengo’s fee structure, I find their approach relatively transparent, though not always the lowest in the space. The platform charges a standard percentage fee on crypto swaps and purchases, which is clearly stated before every transaction. Spreads are generally in line with other secure crypto wallets but can vary depending on the asset and network conditions. In practice, Zengo’s total buy/sell cost is on par with beginner-friendly wallets, though it may be higher than the rates offered by advanced spot trading platforms or pure exchanges.
On the topic of hidden costs, I notice Zengo mostly steers clear of unnecessary surprises. The platform does not charge opening or ongoing maintenance fees, and there are no inactivity penalties—two positive points for casual users. However, users should pay attention to blockchain network fees, which are always passed on at the actual rate and can add up for frequent transfers or during periods of high congestion.
Looking at staking and lending, Zengo’s service fees are reasonable and clearly disclosed before engaging funds. Unlike some traditional brokers that may add a layer of commission or shift reward rates for staking, Zengo generally charges the standard protocol validator fee, keeping the yield relatively competitive for mainstream coins. There are no early withdrawal fees for staking or lending, but network validator fees still apply and should be factored in when planning your strategy.
What are the account-related fees?
| Fee Type | Conditions at Zengo | Market Average |
|---|---|---|
| Opening fee | $0 | $0–$25 |
| Maintenance fee | $0 | $0–$10/month |
| Withdrawal fee | Network fee (variable) | Network + $1–$5 markup |
| Inactivity fee | $0 | $0–$15/month |
| Currency conversion fee | 1.5–2.5% per transaction | 1–3% |
Tip
Always check current network fees before making large or frequent withdrawals, as timing your transfers and consolidating transactions can help minimize costs over time.
What are the fees on cryptocurrencies?
Zengo applies a flat percentage fee for crypto purchases and swaps, in addition to the underlying network fee. Spreads on major pairs are moderate compared to wallet-based platforms and are always included in the displayed price. There are no overnight or custody fees, making Zengo more cost-effective for buy-and-hold investors than crypto brokers who charge ongoing storage costs. Transfer fees are transparent and based strictly on real-time blockchain network rates, without hidden surcharges.
| Fee Type | Conditions at Zengo | Market Average |
|---|---|---|
| Buy/sell fees | 0.75–2.5% | 0.5–2.0% |
| Spread fees | Included, typically 0.5–1% | 0.2–1.5% |
| Overnight fees | $0 | $5–$30 (some brokers) |
| Custody fees | $0 | $0–$10/month |
| Transfer fees | Network fee (variable) | Network + $1–$5 |
What are the fees on staking and lending?
Zengo’s staking and lending service fees are competitive, with only the standard validator fee applied and no extra commission. There are zero Zengo-imposed fees for early withdrawal or management, but users remain responsible for validator and blockchain fees. This makes staking and lending through Zengo accessible for smaller investors but still sensitive to real-time network costs.
| Fee Type | Conditions at Zengo | Market Average |
|---|---|---|
| Staking service fee | Protocol validator fee | Protocol + 0–10% |
| Lending service fee | 0% | 0–5% of returns |
| Early withdrawal fee | $0 | $0–$25 |
| Network validator fee | 1–15% (asset dependent) | 1–20% (asset dependent) |
Cryptocurrencies available
Zengo offers a strong core selection of cryptocurrencies that covers the major assets most users expect. I appreciate the inclusion of Bitcoin, Ethereum, and several large-cap altcoins, making it easy for mainstream users to build a diversified core portfolio. The presence of popular stablecoins like USDC and DAI is a plus, especially for those prioritizing capital stability or using Zengo as a fiat on/off ramp.
While Zengo’s asset coverage is solid for most buy-and-hold investors and everyday usage, it doesn’t match the sheer breadth of tokens available on top-tier global exchanges. Niche coins, newly trending tokens, and many low-cap altcoins aren’t available. For Canadian users primarily interested in established blockchains and tokens, however, the platform’s offering is adequate and uncomplicated.
Staking opportunities are currently somewhat limited on Zengo, but the platform does provide a simple way to earn rewards on certain assets, such as ETH2 staking. There is no marketplace integration for NFTs and no crypto derivatives or leveraged products on offer. This limits Zengo’s appeal for advanced traders or those looking to access DeFi strategies and non-spot markets directly.
Overall, I consider Zengo best-suited for investors seeking a user-friendly and secure way to access and store core crypto assets and stablecoins. Those looking for high-risk trading, access to NFTs, or deep altcoin diversity might find the platform restrictive, but for safe, straightforward exposure, it performs reliably.
| Asset Class | Type | Number at Zengo | Market Average | Example Assets |
|---|---|---|---|---|
| Cryptocurrencies (spot) | Major & select altcoins | ~15 | 100–200+ | BTC, ETH, LTC, DOGE |
| Cryptocurrencies (CFD) | Not available | 0 | 50–150 | – |
| Stablecoins | USD-backed, liquid | 2 | 4–10 | USDC, DAI |
| NFTs | Not available | 0 | 100,000+ | – |
| Other derivatives | Not available | 0 | 50–200 | – |
Staking, DeFi Staking, and Lending
Staking, DeFi staking, and lending services are increasingly important for crypto investors seeking to earn passive income and maximize portfolio utility.
Staking
Zengo does not offer traditional staking services directly on its platform. This means I cannot earn staking rewards on assets like ETH or ADA through Zengo itself, which puts the platform at a disadvantage compared to competitors that integrate staking for major cryptocurrencies. For users looking for a wallet with built-in staking, this limitation could be a deciding factor.
Staking DeFi
Currently, Zengo does not support DeFi staking options. I cannot access or interact with on-chain staking protocols directly from the Zengo app, which restricts opportunities for advanced yield generation available in competing non-custodial wallets. Users interested in DeFi staking will need to connect their assets to external platforms or protocols, introducing additional steps and risks.
Lending
Zengo does not provide integrated crypto lending features. I am unable to lend my BTC, ETH, or stablecoins from within the app to earn interest. This limits yield options for conservative investors and those wanting a more frictionless, all-in-one wallet experience. For lending, users have to explore other platforms that may offer variable returns, but with added security and counterparty considerations.
Other services
Additional services play a crucial role in enriching the overall user experience and security when using a crypto platform.
| Service | Available at Zengo |
|---|---|
| Carte crypto | No |
| Crypto wallet | Yes |
| ETFs crypto | No |
| CFD crypto | No |
| Copy trading | No |
| API trading | No |
| NFT marketplace | No |
| Fiat on-ramp | Yes |
| Insurance on funds | Yes |
Crypto wallet
With Zengo, I benefit from a truly non-custodial crypto wallet, which uses advanced keyless security based on multiparty computation. This means I don’t have to worry about seed phrases, yet I retain full control over my assets. Compared to competitors, the Zengo wallet is user-friendly and prioritizes both security and ease of use—making it especially practical for newcomers who might find traditional wallets intimidating.
Fiat on-ramp
Zengo offers direct fiat on-ramp capabilities, allowing me to purchase cryptocurrencies like Bitcoin and Ethereum using a credit card, Apple Pay, or bank transfer. The purchasing flow is clean and integrates with multiple service providers to offer competitive rates. While the fees may vary depending on the payment method, I find it very convenient not to have to leave the app or rely on external exchanges for my initial crypto purchases.
Insurance on funds
One feature that stands out to me is Zengo’s coverage for certain security risks. The wallet’s built-in insurance covers user funds against specific forms of hacking or attacks on the Zengo infrastructure, which is fairly rare among non-custodial wallets. While this insurance isn’t comprehensive for all loss types (like errors made by the user), the added layer of protection gives me more confidence to store larger amounts on the platform compared to most of its peers.
Account Opening & Deposits
Account opening
To open an account on Zengo, begin by completing their secure registration form with your email and password. Once you have created your basic user profile, you may be prompted to undergo identity verification (KYC), which involves uploading valid identification (such as a passport or driver's license) and, in some cases, proof of address (utility bill or bank statement). Certain users may need to answer a brief regulatory questionnaire for compliance purposes. The average validation time ranges from a few minutes to a couple of business days, depending on volume and the completeness of submitted documents. You’ll receive a confirmation email as soon as your account is fully activated. Crypto platforms like Zengo may allow limited access without full KYC, but trading, staking, and higher withdrawal limits require full verification. Setting up and securing your crypto wallet (often integrated) is an essential final step.
Tip
Enable two-factor authentication (2FA) during sign-up to enhance the security of your digital assets from day one.
| Item | Details |
|---|---|
| Opening procedure | Online registration, identity verification, optional regulatory questionnaire, document upload |
| Validation time | Instant to 2 business days (peak periods may extend review times) |
| Accepted deposit methods | Credit/debit card, bank transfer, supported stablecoins, wide range of cryptocurrencies |
| Minimum required deposit | Typically none for crypto deposits, may apply for fiat methods (check Zengo’s latest terms) |
| Required documents | KYC ID (passport/driver’s license), proof of address (utility bill or bank statement), possibly additional questionnaire |
| Practical tip | Prepare clear photos of your ID and address documents to accelerate account approval |
Deposits and withdrawals on Zengo
Depositing funds into your Zengo account is straightforward: choose from supported methods including credit cards, bank transfers, or a variety of cryptocurrencies and stablecoins. Zengo’s platform often offers an integrated crypto wallet for secure storage and staking. Supported currencies typically include major cryptos (like BTC, ETH, USDC), select stablecoins, and sometimes fiat CAD via third-party payment processors. Processing times vary: crypto deposits can be near-instant after blockchain confirmation, while fiat transfers may take 1–3 business days. Withdrawals follow similar channels, with possible network and platform fees. Zengo’s fiat-to-crypto conversion tools allow you to fund your account in CAD and buy digital assets directly.
Warning: Double-Check Transaction Details
Always double-check wallet addresses and network selections before sending crypto to or from Zengo. Incorrect details can lead to irreversible loss of funds.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | CAD, USD, cryptocurrencies | Varies (e.g., $50) | Instant to 30 min | Card processing, markup |
| Bank transfer | CAD, USD | Varies | 1–3 business days | Possible bank/transfer fee |
| E-wallets | Depends on integration | Varies | Instant or near | E-wallet provider fees |
| Cryptos/stablecoins | BTC, ETH, USDC, more | Network minimum | Network-dependent | Network, platform fees |
| Other local options | As offered for CA (e.g., Interac) | Varies | 1–2 business days | Local provider fees |
Customer reviews
Zengo currently holds a Trustpilot rating of 4.2 out of 5, based on more than 2,300 reviews.
Users highlight several positive aspects of the platform, including:
- Simple and fast account setup
- Responsive and helpful customer support
- Secure wallet features and biometric protection
- Intuitive design for sending, receiving, and storing crypto
- Reliable notifications and transaction transparency
On the other hand, several negative points are frequently mentioned in reviews:
- Higher network or withdrawal fees for small amounts
- Limited DeFi and staking features compared to competitors
- Occasional delays in processing blockchain transactions
- Lack of detailed transaction histories for some assets
Here are some representative examples of reviews published on Trustpilot:
_M.F. – 04/06/2024: “Customer support was quick to solve my login issue and the app makes crypto management very simple for me as a beginner.”_
_S.B. – 21/05/2024: “Love the security features in Zengo, but I wish there were more DeFi options and lower fees on small withdrawals.”_
_J.D. – 18/03/2024: “Solid wallet app, but sometimes it takes longer for transactions to appear, which can be stressful if you’re moving larger amounts.”_
FAQ
Is Zengo regulated or certified in CA?
Zengo is not a regulated financial entity or registered broker in Canada. It operates primarily as a non-custodial crypto wallet and platform. Users are responsible for ensuring compliance with local regulations when using Zengo’s services.
What is the minimum deposit to start trading on Zengo?
There is no mandatory minimum deposit to use or store crypto with Zengo. However, if you purchase cryptocurrencies through integrated third-party providers, minimums may apply depending on the payment method or provider.
Does Zengo offer welcome bonuses or rewards?
Zengo does not offer traditional welcome bonuses. Occasionally, Zengo may promote limited-time referral rewards or earn campaigns, but bonus programs are not a core feature of the platform.
How does staking or earn work on Zengo?
Zengo offers an “Earn” feature in partnership with industry providers, enabling users to stake or lend certain cryptocurrencies to earn passive rewards. The availability, rates, and eligible coins vary, and all staking is done via integrated third-party protocols within the wallet.
How does Zengo earn money (trading fees, spreads, commissions)?
Zengo generates revenue mainly through transaction fees on crypto purchases, swaps, and sales, which are set by the third-party service providers it partners with. These fees are either included in the quoted price or shown transparently during the transaction process.
Who is the team or company behind Zengo?
Zengo is developed and operated by a technology company headquartered in Tel Aviv, Israel. The team consists of experienced professionals in cryptography and fintech, with a strong track record in digital security.
When was Zengo launched?
Zengo was officially launched in 2018. The platform has since grown to serve hundreds of thousands of users worldwide, focusing on innovation in wallet security and user experience.
Does Zengo provide insurance or proof-of-reserve for customer funds?
As a non-custodial wallet, Zengo does not hold customer funds directly and therefore does not provide insurance or proof-of-reserve. Users have full control over their wallets and private keys, so fund security is managed by the users themselves.
How can I contact Zengo’s customer service?
You can reach Zengo’s customer support through the in-app help center or via email. The platform emphasizes responsive, 24/7 support to assist users with account issues, wallet recovery, and general inquiries.
Does Zengo offer a referral or cashback program?
Zengo operates a referral program where users can earn rewards by inviting others to join the platform. The availability and specifics of this program may vary over time, so it is best to check the latest details directly in the app or on the official website.
Is Zengo regulated or certified in CA?
Zengo is not a regulated financial entity or registered broker in Canada. It operates primarily as a non-custodial crypto wallet and platform. Users are responsible for ensuring compliance with local regulations when using Zengo’s services.
What is the minimum deposit to start trading on Zengo?
There is no mandatory minimum deposit to use or store crypto with Zengo. However, if you purchase cryptocurrencies through integrated third-party providers, minimums may apply depending on the payment method or provider.
Does Zengo offer welcome bonuses or rewards?
Zengo does not offer traditional welcome bonuses. Occasionally, Zengo may promote limited-time referral rewards or earn campaigns, but bonus programs are not a core feature of the platform.
How does staking or earn work on Zengo?
Zengo offers an “Earn” feature in partnership with industry providers, enabling users to stake or lend certain cryptocurrencies to earn passive rewards. The availability, rates, and eligible coins vary, and all staking is done via integrated third-party protocols within the wallet.
How does Zengo earn money (trading fees, spreads, commissions)?
Zengo generates revenue mainly through transaction fees on crypto purchases, swaps, and sales, which are set by the third-party service providers it partners with. These fees are either included in the quoted price or shown transparently during the transaction process.
Who is the team or company behind Zengo?
Zengo is developed and operated by a technology company headquartered in Tel Aviv, Israel. The team consists of experienced professionals in cryptography and fintech, with a strong track record in digital security.
When was Zengo launched?
Zengo was officially launched in 2018. The platform has since grown to serve hundreds of thousands of users worldwide, focusing on innovation in wallet security and user experience.
Does Zengo provide insurance or proof-of-reserve for customer funds?
As a non-custodial wallet, Zengo does not hold customer funds directly and therefore does not provide insurance or proof-of-reserve. Users have full control over their wallets and private keys, so fund security is managed by the users themselves.
How can I contact Zengo’s customer service?
You can reach Zengo’s customer support through the in-app help center or via email. The platform emphasizes responsive, 24/7 support to assist users with account issues, wallet recovery, and general inquiries.
Does Zengo offer a referral or cashback program?
Zengo operates a referral program where users can earn rewards by inviting others to join the platform. The availability and specifics of this program may vary over time, so it is best to check the latest details directly in the app or on the official website.
