Tangem Wallet is a hardware wallet that can be used as a card or a ring. It securely saves users private keys offline in an encrypted format, allowing them to monitor, purchase, sell, exchange, and stake thousands of cryptocurrencies across 70 blockchains via the associated application. Like other hardware wallets, this device safeguards users private keys, essential for verifying ownership of their cryptocurrency assets and authorizing transactions, by providing additional protection.

The Tangem Wallet is distinguished by its intuitive card-shaped form, diverging from traditional hardware wallets. It emphasizes accessibility and user-friendliness, including NFC functionality, comprehensive cryptocurrency support, and advanced security measures like hidden private key creation. NFC technology enables the utilization of the Tangem wallet without manipulating a recovery phrase inscribed on paper. Users can access the app and do transactions by merely tapping the card against the phone with the Tangem application installed. This is an operational two-factor authentication, with the Tangem card representing the possession element and the access code denoting the knowledge element. Tangem mitigates third-party risks for individuals seeking to purchase, sell, and trade directly within the wallet while eliminating vulnerabilities associated with recovery seeds.

Background of Tangem Wallet

Tangem, founded in 2017 and based in Zug, Switzerland, by Andrey Kurennykh (co-founder and CEO), aims to transform the hardware wallet sector by focusing on smartcard wallets. Their premier product, the Tangem wallet, has received acclaim for being the fastest to configure and most user-friendly wallet currently available. The team consists of exceptional leaders with a collective experience exceeding 80 years.

Andrey Kurennykh (co-founder and CEO) possesses over twenty years of experience in technology and management. Before joining Tangem, he served as the Head of Mobile Solutions at Compulink Group. He was the managing director and founder of Airtime ATMs and held the post of CIO at MosMart. Andrey Lazutkin (Chief Technology Officer): Andrey possesses over 15 years of experience in the digital products and technology sector, specializing in FinTech. Vijay Sondhi has over 27 years of experience in finance and management, having served as CFO and CEO in financial and FinTech organizations. Patrick Storchenegger possesses over 20 years of expertise in law, corporate taxation, legal advising, and notary services, rendering his talents and knowledge an invaluable addition to Tangem.

The company has achieved significant success and secured sufficient funds through investment rounds, enabling the expansion of its activities with branches in North America, Eastern Europe, and the Asia-Pacific region. Tangem secured $15 million in funding from SBI Crypto Investments Ltd. in 2019 and has accumulated $23 million across two funding rounds.

Features of Tangem Wallet

Security

Tangem wallets are protected by a distinctive private key generated by an internal chip within the card that remains unavailable to others, even Tangem itself. The wallet features an EAL6+ security certification akin to that employed in biometric passports. The card’s chip produces a private key using a True Random Number Generator (TRNG), which remains confined to the card. This guarantees that the private keys remain unknown to Tangem and cannot be intercepted under any circumstances. Tangem’s firmware has undergone two audits. Initially, in 2018, it was acquired by the Swiss firm Kudelski Security, followed by another in 2023 by Riscure, an international security laboratory. Both audits verified that the firmware lacks backdoors or vulnerabilities, is non-updatable, and lacks concealed algorithms.

Intuitive Design

Its user-friendly interface distinguishes Tangem. Its card-shaped design renders it one of the most accessible wallets available. The setup process is exceptionally swift and uncomplicated.

Cryptocurrency and NFT Support

Tangem supports over 6,000 digital assets, including Bitcoin (BTC), Tether (USDT), USD Coin (USDC), Ethereum (ETH), XRP (XRP), Solana (SOL), Cardano (ADA), Binance Coin (BNB), Dogecoin (DOGE), and TRON (TRX), while being compatible with more than 40 blockchains. The wallet perpetually incorporates additional networks in response to community demand. The cryptocurrency wallet facilitates non-fungible token transactions via WalletConnect, enabling access to NFT marketplaces with a single tap of your card.

No Recovery Seed Needed

In contrast to most other hardware wallets, Tangem does not necessitate a recovery seed. The two supplementary cards function as a backup by retaining duplicates of users private keys. Nonetheless, users may still create a seed word for their wallet if they prefer it.

Integration of DeFi and dApps

Users can immediately access DeFi platforms and dApps via the Tangem wallet app with WalletConnect. Users can exchange, purchase, and liquidate cryptocurrency without exiting the Tangem application.

Pros and Cons of Tangem Wallet

How Does Tangem Wallet Work?

Tangem utilizes a unique methodology for hardware wallets, diverging from traditional designs. The official Tangem website characterizes the cards customers purchase as analogous to identical house keys. Conventional hardware wallets typically resemble USB drives or smartphones, serving to hold a user’s private keys. Conventional hardware wallets usually have a compact display for transaction validation and utilize recovery seed words as an extra security precaution in cases of loss or the necessity to retrieve funds.

Conversely, Tangem’s hardware wallet provides a more efficient and cutting-edge alternative. Tangem Wallet also uses NFC technology to automatically authenticate cryptocurrency transactions on a linked smartphone, obviating the need for recovery seed phrases, batteries, or wires. The procedure is streamlined to a direct tap-and-go approach.

Upon users tapping the wallet card on their device, its chip produces a random private key to safeguard their cryptocurrency assets. The key is transmitted to their other cards over a secure link. Upon obtaining their keys, users can engage with the wallet using a mobile application, available for complimentary download on iOS and Android platforms. The wallet can also be downloaded directly from its website. Users can store, purchase, sell, and exchange thousands of cryptocurrency assets within the application.

Tangem Wallet System

The Tangem chip, ring, and card constitute a hardware wallet system designed to hold private keys for digital assets securely. Tangem devices employ advanced technology to produce and secure private keys, boasting an impeccable record of zero hacks. The Tangem firmware has undergone two independent audits: the first conducted in 2018 by the Swiss firm Kudelski Security and the second in 2023 by Riscure, a global security laboratory. Both audits verified that the firmware lacks backdoors or vulnerabilities, is non-updatable, and lacks concealed algorithms.

Tangem Chip

Each Tangem Wallet contains a robust, verified chip created with Samsung Semiconductor. The Tangem chip produces a random private key retained on the device. The chip constitutes the fundamental element of the Tangem wallet system. The authenticity of the Tangem chip and firmware is also checked by the Tangem application installed on users’ devices. Each card has an integrated microprocessor, resembling a 1 x 1 mm microcomputer. The chip is protected to EAL+6 standards, safeguarding users against invasive and non-invasive threats. The chip exhibits optimal resistance to dust, water, and temperature extremes (–25° to 50°C) and protection against X-rays, electromagnetic pulses, and electrostatic discharge.

Tangem Ring

The Tangem Ring, the inaugural ring-shaped hardware wallet, was introduced during the Cardano Summit in November 2023. This portable hardware wallet enables users to manage their complete crypto portfolio without the necessity for cumbersome gadgets, cables, or smartphones. Users can transport their digital assets and access over 6,000 cryptocurrencies, along with a comprehensive array of cryptocurrency services. The Tangem ring contains private keys on the ring and two accompanying cards, priced at $160. The Tangem ring is constructed from robust and lightweight zirconia ceramic, built for prolonged wear and exhibiting high resistance to scratches, dust, water, and extreme temperatures ranging from -25° to 50°C.

The wearable cryptocurrency wallet features NFC (Near Field Communication) antennae, facilitating seamless connectivity with compatible smartphones. The wallet features an intelligent backup system, and upon activation, the ring’s integrated chip produces a random private key, guaranteeing its security against compromise. The private key is retained on the ring and two Tangem cards, with no other copies existing in space or time. Tangem Rings are offered in sizes 8 through 13 US. Measurements can be converted to millimeters (mm) for diameter and circumference and to ring sizes in alternative systems such as the UK, EU, and Japan.

Features of Tangem Ring

• EAL6+ CC-certified Secure Element: The Tangem Ring is created in partnership with Samsung Semiconductors, offering exceptional protection against invasive and non-invasive threats. The ring is resistant to scratches, dust, moisture, and extreme temperatures. Ideal for quotidian use, imparting an element of sophistication to your daily routine.
• NFC Connectivity: The Tangem Ring facilitates a seamless wireless connection with compatible smartphones. This wearable cryptocurrency wallet features NFC (Near Field Communication) antennae, enabling seamless connectivity with compatible smartphones.
• ISO Compliance: The Tangem Ring is designed to withstand electromagnetic pulses, electrostatic discharges, and X-rays.
• Intelligent Backup Technology: The ring and two backup cards are connected to a single wallet, with encrypted private keys securely allocated. Upon activation, the ring’s integrated chip produces a random private key, guaranteeing its security against compromise. The private key is preserved on the ring and two Tangem cards, with no other copies existing in space or time.

Tangem Card

A card that retains private keys facilitates wallet access on any mobile device. Users may utilize a collection of two or three cards, each granting equivalent access to their wallet. A three-card set gives customers a superior probability of regaining access to their wallet compared to a two-card set. While the 2-card is more economical at $54.90, the 3-card, priced at $69.90, offers more excellent safety. Customers can use the remaining card to access their wallet if a card is lost or stolen. However, if they misplace one card and forget their access code, they will require a third card to reset it. Consequently, acquiring the 3-card set is frequently advised. If the Tangem Wallet card is stolen, a third party cannot access the wallet, as the access code safeguards it against unauthorized entry and brute-force attacks.

Tangem App and Wallet Connect

To utilize the Tangem Wallet on a mobile device, users must download the complimentary Tangem app for iOS or Android from the App Store or Google Play. The Tangem app is user-friendly and has numerous capabilities, including the following:

• Monitor and Analyze: Users can track their cryptocurrency portfolio expertly, utilizing real-time pricing for several tokens. Daily, weekly, and monthly price fluctuations are shown elegantly on a chart. The Tangem hardware cryptocurrency wallet enhances functionality by providing market information, including liquidity, holder count, and buying pressure. These insights assist users in identifying the optimal moments for purchasing and selling.
• Buy, Sell, and Exchange of Cryptocurrencies: Tangem Wallet provides more than only secure cryptocurrency storage. The program allows users to enhance their portfolio by acquiring numerous cryptocurrencies using debit or credit card, Apple Pay, Google Pay, or bank transfer, facilitated by integration with Mercury. Nevertheless, a transaction fee of 3.95% applies.
• The wallet functions as a quasi-exchange, enabling direct sales of your cryptocurrency to your bank account or card through MoonPay. Alternatively, one may convert cryptocurrency into another cryptocurrency. For instance, you can exchange BTC for ETH or SOL for DOGE with a single click.
• Stake Tokens: Through the Tandem app, users can stake numerous cryptocurrencies and earn passive income from digital assets. The tokens are secure and can only be compromised if an external entity successfully infiltrates the network. The users consent to stake their tokens, rendering them unsellable or untransferable throughout this period, as they are used to validate transactions and uphold the blockchain network.
• Utilize decentralized applications (dApps): Tangem facilitates user access to decentralized applications by collaborating with WalletConnect. Users may proceed if they wish to engage with DeFi and employ their cryptocurrency through staking, yield farming, or lending.

Tangem Wallet and Wallet Connect

WalletConnect is an open-source protocol that facilitates secure connections between mobile wallets and decentralized apps (DApps). WalletConnect enables the integration of Tangem Wallet with various DApps on desktop and mobile platforms. WalletConnect facilitates the transfer of tokens for staking, cryptocurrency swapping, liquidity pool contributions, and the buying or selling NFTs, among other functions.

WalletConnect in Tangem Wallet is compatible with the following networks: Solana and various EVM networks, specifically Arbitrum, Areon, Aurora, Avalanche C-Chain, BNB Smart Chain, Base, Blast, Canxium, Cronos, Cyber, Ethereum, Ethereum Classic, Ethereum PoW, Fantom Opera, Flare, Kava EVM, Gnosis, Manta Pacific, Mantle, Moonbeam, Moonriver, Optimistic Ethereum, Polygon, Polygon zkEVM, PulseChain, RSK, Shibarium, Telos, and zkSync Era.

Connecting Tangem Wallet to Wallet Connect

To connect with the DApp (decentralized application), please adhere to the following steps:

• Access the website or application of the DeFi service.
• Select the “Connect your wallet” option.
• In the following menu, select “WalletConnect.”
• When visiting the DApp on a mobile device, locate “Tangem” within the available wallet options. Adhere to the on-screen instructions presented by the Tangem application.
• A QR code will appear on the screen when connecting via a PC. To scan a QR code, adhere to the following procedures:
• Launch the Tangem application.
• Select the three dots situated in the upper right corner.
• Choose “WalletConnect.”
• Select the “+” icon located in the upper right corner.

Conclusion

The Tangem Wallet is distinguished by its intuitive card-shaped form, diverging from traditional hardware wallets. In addition to its premium aesthetic, the wallet is equipped with an EAL6+ Samsung Chip, guaranteeing the security of your cryptocurrency. Concurrently, the user-friendly Tangem App enables you to purchase, sell, and stake with a single click.