Tangem Wallet Review | Why Are Their Reviews So Great?
Jack Moreau
Apr 2024
8 min read
Fact checked
Introduction: The crypto space offers a myriad of wallet choices making it very hard to figure out which one to use. Our meticulous Tangem Wallet Review presents a clear picture of its attributes, pros and cons to help you quickly decide if it's the right fit for your digital asset storage needs!
Tangem was founded in 2017 by Andrew Pantyukhin, Andrey Kurennykh, and Anselm Schmucki with the goal of developing smartcard-based hardware wallets and mobile applications.
Tangem website
Tangem is headquartered in Zug, Switzerland, with branches in North America, Eastern Europe, and APAC. The company has raised over $15 million from SBI Crypto Investment Ltd and at the time of writing, the company has over 50 employees.
Tangem is a self-custodial hardware wallet that gives users full control of their private keys (assets) while being compatible with a wide range of DeFi applications.
The company is working closely together with Samsung, Visa and other well known companies to advance the field of secure decentralised solutions.
Tangem partners
The Tangem wallet is a cryptocurrency hardware wallet that allows users to store their digital assets offline on a physical card. The wallet has the same size as a credit card and can be connected to a smartphone or computer via NFC.
Tangem wallet warranty
At the time of writing, the wallet supports over 6,000 cryptocurrencies across 34 blockchains like Bitcoin, Ethereum, BNB SC, Solana, Avalanche, Litecoin, TRON, Arbitrum, Cosmos and many others.
Besides the Tangem smartcard-based hardware wallet, the team has also developed Android and IOS mobile applications for seamless integration. The mobile applications have been downloaded tens of thousands of times and have stellar reviews of over 4.8 stars based on 3,000 reviews.
Tangem Android Application
Tangem Crypto Wallet
To get started with a Tangem wallet, users need a mobile that supports NFCa and three minutes of their time. The first step is to install the Tangem app either on Android or IOS and then scan the Tangem card.
Tangem app functionality
Once the screen shows the "Create Wallet" option, scan the card again. Users have the option to scan up to 3 cards in one wallet as a backup should they lose any of the other cards. Users must finally create access passwords without which the funds in the wallet cannot be accessed.
Tangem differs from other hardware wallets by offering an alternative to traditional seed phrases which come with different risk vectors. Instead, Tangem offers a more secure alternative.
Tangem USPs
When users initiate their Tangem Wallet, a chip inside the card creates a unique private key that remains hidden. No one, including Tangem, is privy to this key which can be transferred to multiple cards.
So rather than relying on a seed phrase, Tangem uses extra cards for backup which is why they typically sell the wallet in sets of two or three cards. This means that users must make sure not to lose all of their cards as in that scenario, they would also lose all of their funds.
Tangem Cards Price
Tangem have also developed mobile applications available for Android and IOS which let's users easily display the funds stored in the cards via NFC wireless connectivity.
The phone itself never stores the users assets but simply displays what's available in them. And if Tangem the company would one day cease their operations, this would in no way impact the functionality of the cards which would still work.
The Tangem mobile apps have been downloaded by tens of thousands of users across Android and IOS and have received a stellar 4.8 star rating based on over 3,000 reviews.
Tangem Wallet Features
When it comes to product features, by connecting their wallet cards to the Tangem wallet apps via NFC, users are able to easily send and receive over 6,000 digital assets. The mobile apps also allow for swaps via third-party integrations with DeFi applications like Uniswap, 1inch, OpenSea and many others.
WalletConnect support is also available which enables users to seamlessly connect to DeFi and Dapps across the over 35 blockchains that are supported by Tangem. This means that users can trade on exchanges, access lending opportunities, buy NFTs and much more.
Tangem Wallet Reviews
Users can further easily get an overview of their portfolio balance and even buy cryptocurrencies directly from the Tangem wallet. At the time of writing, the wallet offers support for two fiat currencies in USD and EUR.
The Tangem Wallet allows its users to simultaneously store over 6,000 digital assets. It supports 34 networks including popular options like Bitcoin, Ethereum, Ripple, Solana, Cardano, Polkadot, Cosmos, Litecoin, Avalanche and many more others ensuring a broad range of ecosystem compatibility.
Tangem Wallet offers top-notch security as one of world's safest cryptocurrency wallet. Its chip is on par with the secure microcomputers found in biometric passports and boasts a Common Criteria EAL6+ certification, one of the industry's highest standards.
Tangem Smart Backup
Additionally, Tangem is both dust and water-resistant, handling extreme temperatures from -25 to 50°C and has an IP68 rating.
The wallet is designed without any vulnerable components like batteries or cables. The wallet's app is open-source, ensuring transparency and user privacy, and is available for scrutiny on GitHub.
Tangem Open Source
Even if Tangem stops operating, the app can still function. Further, its firmware has been independently verified by the Swiss firm, Kudelski Security.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
