Zengo: the crypto wallet with no seed phrase

Zengo's MPC (Multi-Party Computation) technology eliminates the main vector of crypto loss: the seed phrase. With a classic wallet (MetaMask, Ledger), if you lose your seed phrase (12 or 24 words), your crypto is gone for good. Zengo solves this by splitting the private key into several parts: one stored on your phone, another on Zengo's servers, a third on a personal cloud service (Google Drive, iCloud). To reconstruct the key, all three parts are needed together — neither Zengo alone nor an isolated hacker can access your funds. Account recovery is done via FaceID and your email. For a comparison with traditional wallets, Ledger Wallet uses a different physical approach.

Zengo has 1.5 million users worldwide and shows a 4.78/5 rating on the App Store and 4.78/5 on Google Play — among the best ratings in the crypto-wallet sector. These high scores reflect ease of use (no seed phrase, intuitive interface) and recognised security (no hack reported since launch). Zengo is recommended by many crypto experts for beginners who don't want to handle the complexity of a seed phrase. For more advanced users preferring full control of their seed phrase, Ledger Wallet offers a more complex hardware solution with no dependence on Zengo's servers.

On 15 April 2026, eToro announced the acquisition of Zengo for around $70 million (mostly cash). eToro — the Nasdaq-listed social-trading platform with 38 million users across 140 countries — is using the deal to expand its self-custodial (non-custodial wallet) crypto offering. For Zengo users, tighter integration with the eToro ecosystem should make it easier to move between the eToro trading platform and the Zengo wallet, and it signals financial solidity. For complementary crypto solutions, Ledger Wallet (hardware wallet) and Deblock (self-custody wallet with a French account) are other players worth comparing.

Zengo supports a wide range of cryptocurrencies and tokens: Bitcoin (BTC), Ethereum (ETH), the main ERC-20 tokens, Solana (SOL), Polygon (MATIC), Binance Smart Chain (BSC) and many more. Zengo also gives access to NFTs and DeFi (decentralised finance) protocols via the built-in Web3 browser. The app lets you buy crypto directly via partners (bank card) or receive crypto from other wallets. To store a large number of different crypto-assets, Ledger Wallet gives access to over 5,500 cryptocurrencies via Ledger Live.

Zengo offers a unique security level in the crypto-wallet sector. Authentication is done via FaceID (iPhone) or facial recognition (Android) — more secure than a PIN. The MPC private key is split into 3: a part on your phone, a part on Zengo's encrypted servers, a part in your cloud (Google Drive or iCloud). If you lose your phone, recovery is done via FaceID + email + the cloud part: no seed phrase to find. Zengo shows 0 hacks since its creation. For maximum cold-storage security (no internet connection), Ledger Wallet remains the absolute reference.

Zengo positions itself differently from the main wallets. MetaMask (software wallet, mandatory seed phrase): the sector reference but vulnerable to seed-phrase loss. Ledger Wallet (hardware wallet): maximum security but a physical seed phrase, hardware cost (€79-149), less practical day-to-day. Coinbase Wallet: simple but with a seed phrase. Trust Wallet: seed phrase too. Zengo is the only mainstream wallet with no seed phrase and guaranteed recovery. For daily crypto use with maximum security, Zengo + Ledger is the recommended combination (Zengo for frequent transactions, Ledger for long-term storage).

Zengo lets you buy cryptocurrencies directly in the app via integrated partners: credit/debit card (Visa, Mastercard), Apple Pay/Google Pay, SEPA transfer. Purchase rates include the payment partners' fees (generally 1.5 to 4% depending on the payment method). The crypto bought arrives directly in your MPC-secured Zengo wallet. For lower fees, centralised exchanges such as Kraken and Bybit usually charge less but require an account and KYC verification.

Zengo includes a Web3 browser giving access to DeFi (decentralised finance) protocols and NFT marketplaces (OpenSea, Blur). From Zengo, you can connect your wallet to DeFi protocols to lend, borrow, do yield farming, or buy/sell NFTs. Web3 access via Zengo is secured by MPC technology — every DeFi transaction is validated by the 2 key parts (phone + Zengo servers). For diversified crypto portfolios including staking and DeFi, the combination of Zengo (simplified custodial) + Ledger Wallet (non-custodial, cold storage) is recommended.

Zengo is an Israeli company. In most jurisdictions, crypto-asset service providers must register with the local financial regulator; the EU's MiCA regulation is progressively standardising these rules across Europe. Check Zengo's regulatory status in your country before use. The acquisition by eToro (a Nasdaq-listed, EU-regulated company) should help Zengo's regulatory compliance across the European area. For crypto players registered with France's AMF (PSAN), Deblock and Meria are French references.

Zengo's 'promo code' is actually a referral code. Sign up with a code such as ZENKX3RN and, as a new user, you get $10 in Bitcoin cashback after your first crypto purchase in the app. The referrer earns 50% of the commissions Zengo makes on the invitee's purchases for one year. So it's not a classic discount code on a subscription, but a crypto welcome bonus. To round out your ecosystem, Ledger Wallet secures your crypto in cold storage and Bybit lets you buy and trade at reduced fees.