Cryptocurrency Help Logo

Cryptocurrency help is reader-supported. When you buy through links on our site, we may earn an affiliate commision.

Tangem Crypto Wallet Review

By Jinia07/28/2023

Share

The Tangem wallet is a unique card-shaped hardware wallet that boasts the capacity to store over 6,000 coins and tokens across 13 blockchain networks. 

This hardware wallet provides a record replacement warranty of over 25 years; unlike most hardware wallets you will come across, it is resistant to water, dust and extreme temperatures.

As one of the first-ever card-shaped hardware wallets, it offers a sleek and compact solution for securely managing your digital assets. 

With a simple app, you can access the card and swap or transfer tokens on the blockchain without compromising the security of your private keys. Here is a detailed breakdown of everything you need to know about the Tangem Wallet.

Pros

  • Easy to use

  • Stores over 6000 coins and tokens

  • Supports multiple chains

  • Comes with backup cards

  • Built on an open-source application

  • Durable and rugged

  • It boasts an independent firmware audit

Cons

  • Only comes in packs of 3 maximum

  • No passphrase is provided during the setup

  • It only works with NFC-supported devices

TLDR of Tangem Wallet

If you are in a hurry, here is a quick overview of what the Tangem Wallet has to offer:

  • Tangem AG, a Switzerland-based company with offices in Asia Pacific, North America and Eastern Europe, founded Tangem Wallet
  •  This wallet combines simple smartcard-based hardware with mobile technology for convenience and security.
  • Tangem eliminates the vulnerability of seed phrases found in traditional wallets with a private key that is stored directly on the card.
  • There are backup cards, and you can set up the wallet with multiple backups.
  • Developed by Tangem, a leading blockchain company founded in 2017, Tangem is headquartered in Zug, Switzerland, with branches worldwide.
  • Tangem partners with industry giants like Samsung, Visa, Cardano, and GBBC. The company aims to bring cryptocurrencies to the masses in a secure and simplified manner.
  • It provides a user-friendly experience with streamlined processes.

History of Tangem Wallet

Born from the vision of Tangem AG, a trailblazing high-tech company in the blockchain sector established in 2017, Tangem Wallet has quickly become a game-changer. 

With its headquarters nestled in the vibrant tech hub of Zug, Switzerland, and branches spanning across Eastern Europe, North America, and APAC, Tangem has solidified its position as a global leader in the industry. The company boasts an impressive array of partnerships, collaborating with renowned names within and beyond Web3. 

From household brands like Samsung, Visa, and Cardano to the esteemed Global Blockchain Business Council (GBBC), Tangem has forged alliances that reflect its commitment to driving the widespread adoption of cryptocurrencies.

The core mission of the Tangem team is to make cryptocurrencies accessible to the masses, transcending technical barriers while ensuring paramount security. 

By streamlining the user experience, Tangem Wallet simplifies the complex intricacies associated with cryptocurrency storage. With Tangem Wallet, individuals can bid farewell to cumbersome seed phrases and convoluted processes, embracing a hassle-free approach to managing their digital assets.

Tangem Wallet Basic Set up

Setting up the Tangem Wallet is straightforward:

1. First, you must download the wallet’s mobile app, which is available on iOS and Android devices. 

2. Next, you will hold up your Tangem wallet to your NFT-enabled smartphone, triggering the app to initiate the setup process. The app will then generate a private key for your wallet. 

3. You can back up the private key generated on the blockchain on the other 1-2 cards that come with the package by scanning those extra cards with the app. 

4. Then you will be prompted to create an access code. Finish the setup and backup process, and you are done. 

5. You can now use the card to send and receive crypto or swap tokens on the app. 

The smartphone app comes with access to the 1Inch decentralized exchange that allows you to swap tokens directly on the app. 

Tangem Wallet Features

The Tangem wallet boasts a ton of features. These include:

Non-Custodial

This is a hardware wallet; you get complete control of your private keys. The private keys are stored in the card, and unlike most hardware wallets, you don’t need to back up a seed phrase for the wallet. You get a guarantee that neither Tangem AG nor any other third party knows your private keys. As long as you back up your private keys, you can always recover your wallet, even if you lose one of the cards. 

Security

Security must have been top of mind for the creators of the Tangem wallet. It boasts backup cards in case you lose one and one of the highest standards of EAL6+ chip security. Moreover, the fact that the firmware the app is built on is open source means you can verify that there are no backdoors for the wallet. Be sure to order directly from the manufacturer, as  Dubious stores are known to trick buyers into stealing their coins. Also, don’t use the wallet if it’s already set up. 

Supported cryptocurrencies

This wallet supports over 6,000 coins and tokens for any crypto enthusiast with an extensive portfolio across multiple chains. 

With a capacity to store coins and tokens across 13 chains, you can use the Tangem wallet to store coins such as:

  • Bitcoin
  • Ethereum
  • Ripple
  • Cardano
  • Tezos
  • Binance 
  • Dogecoin
  • Stellar

Price and Fees

Regarding pricing, Tangem is one of the more affordable hardware wallets, with prices starting at about $43. Most popular hardware wallets, such as Ledger Nano and Trezor Model T, are priced at $70 to $159. This makes the Tangem wallet a decent bargain for those looking for an affordable alternative. 

Is Tangem Wallet Safe?

Tangem Wallet prioritizes security and implements measures to ensure the safety of users’ digital assets. Using smartcard-based hardware, Tangem Wallet adds an extra layer of protection against potential threats. 

The smartcard securely stores private keys, keeping them isolated from online vulnerabilities. This innovative approach reduces the risk of unauthorized access and mitigates the possibility of hacking or phishing attacks. 

Additionally, Tangem’s commitment to rigorous security standards, not to mention independent firmware audits and its partnerships with industry leaders, further bolster the wallet’s credibility. While no system is entirely immune to risks, Tangem Wallet’s robust security features and focus on safeguarding users’ cryptocurrencies make it a safe and reliable option for managing digital assets.

Conclusion

The Tangem Wallet offers a groundbreaking solution for securely storing and managing cryptocurrencies. Its unique combination of smartcard-based hardware and mobile technology offers users convenience and peace of mind. 

Tangem Wallet’s user-friendly interface and simplified setup processes make it accessible to individuals of all levels of expertise. 

With more people joining the crypto bandwagon, the simplicity of the card-shaped Tangem wallet will make it easier for mainstream users to adopt cryptocurrencies.

Article tags

Wallets
Jinia

Author

Jinia is a fintech writer focused on the cryptocurrency market and passionate about blockchain technology. With years of experience, she contributes to some of the most renowned crypto publications such as Cointelegraph, Coinmarketcap and others. She also has experience writing about the iGaming industry.

Further reading

Exodus Review: Wallet and Services image
Exodus Review: Wallet and Services02/27/2023
Ledger Nano S Plus Review image
Ledger Nano S Plus Review02/27/2023
Coldcard Wallet Review image
Coldcard Wallet Review05/24/2023
Trezor Model T Review image
Trezor Model T Review05/25/2023

Recent News

Kraken Exchange Considers Nuclear Energy for Data Centers image
Kraken Exchange Considers Nuclear Energy for Data Centers07/10/2024
Will Solana Get an ETF? What About BNB or Cardano? image
Will Solana Get an ETF? What About BNB or Cardano?07/01/2024
What’s a Good Amount to Invest in Cryptocurrency? image
What’s a Good Amount to Invest in Cryptocurrency?06/24/2024