In the world of digital finance, ensuring the security of our interactions with financial apps is paramount. While mobile crypto wallet apps have become popular, they often pose security risks due to seed phrases being generated on internet-connected devices. But what if I show you how to use this - looks just like a credit card, right? It’s in fact a hardware wallet that offers both security and ease of use.
This is what Tangem Wallet is exactly. It’s an open-source, multi-currency, multi-chain, DeFi compatible solution that is revolutionizing the way we store and trade cryptocurrencies and this is my quick review of this wallet, after using it for a few weeks already.
In the video above, I also show you the unboxing too, although, there isn’t that much to show - this wallet is like no other. It comes in the shape of a credit card and in the box you’ll find 3 cards (that’s the bundle I got, there’s also a version with just 2 cards). Either way, you have one that you use and the others are simply backup. Similar to how you would store 2 or 3 backups of your seed phrase with other wallets…except, here you don’t have to bother with seed phrases, that’s not necessary because there aren’t any.
Confused? Don’t be. Tangem has made things extra-simple, by not generating a seed phrase, it stores all data in the security chip it uses and instead of making copies of a seed on paper or other materials, you actually keep duplicate cards as your backup. Your private keys are being generated in the chip just in front of you, once you activate your wallet, and afterwards stored securely in the chip of the card while no one has access to it - neither Tangem, nor you, nor anyone else.
This is a true self-custodial solution. It’s impossible to extract the private key from the chip, and everything you need to do to sign a transaction is to just tap the card against your phone with the Tangem App installed. This way you’re not in danger of someone else finding your seed phrase and stealing your crypto. The backup cards are associated with the same private keys as the main card is and they are protected by an access code you set in the app by yourself. All cards are synced with the same application on your mobile, so even if another person finds the cards, they can’t access them with the app on another device, because they wouldn’t know your access code to be able to link your cards to their device.
So, first, it’s seed-free and it requires only a smartphone with NFC support and you’re ready to go. This innovative approach is not only user-friendly but it also eliminates the vulnerabilities associated with seed phrases and provides a very secure alternative.
Another one of the standout features of Tangem Wallet is its advanced security chip. This is an advanced standalone microcomputer that has been independently certified with the highest standard of security known as EAL 6 Plus. It’s even protected against electromagnetic pulse (EMP), electrostatic discharge (ESD), and X-rays in compliance with industry standards (ISO 7816-1). This level of protection is comparable to that of NASA systems and the US Air Force.
Additionally, the wallet is designed to withstand extreme conditions, including dust, water, freezing temperatures, and hot environments. Don’t be fooled by its simple design and appearance. With Tangem Wallet, you can have peace of mind knowing that your crypto assets are well protected, in a really compact and lightweight card, which is why it’s become such a great product and is indeed in the top ranking for cold wallets now. So far this is the only hardware wallet with the highest possible protection rate against environmental conditions. It’s durable enough to perform from -25℃ (-13℉) to+50℃ (122℉).
It is entirely safe from dust, water, and hacking attempts. You can even drop it in snow without repercussions. The cards have 25+ years warranty, which means that both the device and the chip are very resistant and long lasting. And let’s not forget the backup system. Since we don’t have to deal with seed phrases, Tangem allows users to create backup copies of their wallets using the additional cards. I would recommend getting at least two backup cards. These can be stored in different geographical locations, providing an extra layer of security and redundancy. In the event of loss or theft, you will just start using one of the backup cards. A stranger will not be able to sync the card to their own phone app, so you don’t have to worry about that. The firmware is audited by the world's top laboratory — Kudelski Security.
About the app: it's available for both iOS and Android devices and it’s easily one of the most user-friendly I’ve used. Very simple and minimalist UI, which I like. More importantly, the source code of the app is open and available on GitHub, allowing users to verify its integrity and ensuring that there are no backdoors built into the wallet. This transparency is crucial in the crypto space, where trust and security are of utmost importance. The app works with biometrics, so that makes it even easier and more secure for you. It’s got a clean interface you can see the wallets for various blockchains and as you scroll down you will find the Add More button where you get to the list of all supported blockchains, so you can choose which ones you want to activate or hide. You don’t need to scroll through all, you can use the search button to save time.
Setting up Tangem Wallet is a breeze.
First step will be to install the app on your phone and then pick the first card to sync. The app will ask you to tap the card on the back of your phone and that’s it. This should work through your phone case but if you have one of those heavy-duty cases that are too thick and sturdy, I would suggest you take the case off for the setting up, just to make sure you don’t make it harder for the sync. I kept mine on for the most part, but at some point I wasn’t sure if one of cards was reading well, so I took it off in the end.
During the setting up process the card generates a random private key that remains unknown to both Tangem and the wallet holder. This unique approach ensures that your private keys are never exposed, making it virtually impossible for anyone to steal your funds or trick you into giving away sensitive information. After you setup your main card, you will repeat the process with the backup cards. The app will navigate you through the process and will even require you to tap the cards in order according to their numbers, so pay attention to the number of the card that the app is asking you to tap. I wasn’t aware of their unique numbers, so I tapped one of the 3 cards by random first, maybe that’s how I determined it was my main one, then the other 2 became the backups.
In terms of usability Tangem Wallet excels. The user-friendly interface of the app makes it suitable for beginners, while its integration with the One-Inch exchange allows for seamless altcoin trading directly within the app. You will see the “swap” option in the app. You basically have “send”, “buy” and “sell” and “swap” options wherever applicable.
The wallet supports a wide range of cryptocurrencies, including Ethereum, Bitcoin, and various ERC-20 tokens. With Tangem Wallet, you can manage your crypto portfolio, lend, borrow, and stake funds, all from the convenience of your smartphone. I will post another video soon where I will show you how to use the app. RIght now I’m just going through all the features and things you should know when making a choice for your cold storage.
And of course, pricing is another key consideration for many crypto users, so with this wallet you have a very affordable solution. Compared to other hardware wallets on the market, Tangem Wallet is really competitively priced, it’s under $60, making it an excellent choice for beginners and those looking to introduce friends and family to the world of crypto. With free shipping, my discount and the option to pay with cryptocurrencies, Tangem Wallet makes it easier than ever to get started with self-custody and secure your digital assets.
You can get it even cheaper with my discount code CRYPTOCORNER from this link: https://tangem.com/en/?promocode=CRYPTOCORNER
On top of that, I negotiated an exclusive Crypto Corner giveaway, so make sure to leave comments and also head over to twitter, where you will find this tweet I just posted - retweet and tag 3 friends for your chance to win one of these for yourself. It will be sent directly by the company, there will be no third party involved. All you have to do is retweet this, tag 2 friends, make sure you’re following me and Tangem too - this is all you have to do. I will pick winners next week, so you have a few days to get on with this.
In conclusion:
Tangem Wallet is possibly the most simple and easy-to-use wallet. Here are the 10 reasons why I recommend this wallet to anyone - beginner or experienced crypto OG:
- User-friendly: The Tangem Wallet eliminates the need for wires, batteries, or even a PC. All you require is a card and a smartphone with the Tangem app.
- Highest Security Certification: Tangem hardware crypto wallets possess the market's highest level of security certification, EAL6+ (Common Criteria Evaluation Assurance Level 6+ certified). This certification is equivalent to the level attained by electronic passports, ensuring top-notch security.
- Reliable Design: Unlike its competitors, the Tangem card consists only of plastic, an antenna, and a chip, eliminating uncertified, unreliable, and potentially vulnerable components. The monolithic secure element chip has undergone rigorous security certification, guaranteeing enhanced reliability and fewer points of failure.
- Robust and Durable: These cards are IP68 rated, making them resistant to dust, water, heat, and cold.
- Independent Auditing: The card firmware has undergone thorough auditing by an independent Swiss company, Kudelski Security, ensuring the highest standards of security and reliability.
- Intelligent Backup Mechanism: The Tangem Wallet incorporates an intelligent backup mechanism that enables you to link up to 3 cards to a single wallet. This innovative approach eliminates the need to rely on writing the key or seed phrase on paper, which can be easily compromised in other wallets.
- Simultaneous Cryptocurrency Support: You can use multiple supported cryptocurrencies simultaneously, eliminating the need for downloading additional applications onto the card. Currently Tangem supports 24+ blockchain networks and 6000+ tokens and represents the highest coverage by the number of assets.
- End-to-End Attestation Mechanism: The card employs an end-to-end attestation mechanism and anti counterfeit technology, rendering the need for hologram-protected packaging obsolete. Once the user initiates the card activation, the application automatically verifies that the card is issued by Tangem and has unmodified firmware installed.
- Enhanced Security Features: The card can be protected with an access code that can be restored using the smart backup function.
- Powerful Chip: It utilises a powerful chip from Samsung, enabling it to sign transactions with hundreds and thousands of inputs. This feature is particularly important for wallets used in mining. In contrast, some competing hardware wallets struggle to handle such transactions, and may even be unable to sign them at all.
This is certainly a unicorn among hardware wallets, offering robust security, ease of use, and affordability. Its innovative approach to private key storage, and advanced security features, and user-friendly interface really make this a top choice for crypto hodlers regardless of your experience.
!! Don’t forget you get a 10% discount with this link, so make sure to use that.
Or, you might be lucky enough to get a freebie from the giveaway - you have to act fast, I’m going to pick 2 winners on Tuesday, so you have 2 more days to take part.
☝These are my opinions, not financial advice, always DYOR.
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The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this article reflect solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.
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