Tangem’s Crypto hardware wallet stands out for its innovative use of NFC technology, ease of use, and robust security features. This review will delve into the benefits and drawbacks of this unique wallet.
Benefits 👍
- Simplicity and Accessibility: With its sleek card-shaped design and NFC (Near Field Communication) capabilities, the Tangem wallet offers a user-friendly experience. Manage your transactions with ease by tapping the card on a mobile device equipped with the Tangem app.
- Robust Security: Enjoy the peace of mind that comes with EAL6+ security certification, comparable to biometric passports. This high level of security ensures your crypto assets are well-protected against backdoors and undocumented features.
- Seedless Solution: Tangem’s approach to security stands out – no traditional seed phrase is needed. This feature appeals to users seeking a simpler method of securing their assets without compromising safety. The wallet also supports recovery options within the app, mitigating the risk of loss due to company failure or card loss.
- Comprehensive Cryptocurrency Support: Over 2,700 cryptocurrencies, including ERC-20 tokens and NFTs, are supported by the Tangem wallet. Users can manage a wide range of digital assets with this versatile solution.
- Affordable Option: Compared to many other hardware wallets, Tangem offers a more budget-friendly option. Packs of two cards start at a lower price point, making it a great choice for those seeking cost-effectiveness without sacrificing quality.
Standout Feature: Innovative NFC-Enabled Hardware Wallet
The Tangem crypto wallet sets itself apart in the hardware wallet market through its innovative integration of smartcard technology with NFC (Near Field Communication), offering a user-friendly and secure way to manage cryptocurrencies. This card-shaped wallet simplifies transactions, allowing users to authenticate and sign transactions quickly by tapping it against an NFC-enabled smartphone, without the need for cables or entering seed phrases. With high-security chips (like those in biometric passports) and the ability to bypass traditional seed phrases while ensuring recovery options via the app, Tangem enhances security. It supports a broad spectrum of cryptocurrencies and enables direct in-app buying, selling, and swapping, eliminating the reliance on third-party exchanges and reducing counterparty risk. This combination of convenience, security, and versatility makes Tangem a distinctive choice for both newcomers and seasoned crypto enthusiasts.
Drawbacks 👎
- Potential Risks of Losing the Card: As the wallet takes the form of a physical card, there’s always the possibility of misplacing it. Tangem addresses this concern by offering packs of two or three cards and backup features to manage funds if one card is lost.
- Limited Device Compatibility: Older iPhone models or devices lacking NFC support may not be compatible with the Tangem wallet. Users should ensure their devices meet the necessary requirements to use the wallet seamlessly.
- Absence of a Display: Tangem’s hardware wallet stands out for its sleek card design, but it lacks a built-in display. Users must rely on the mobile app for transaction details, which might not be ideal for those who prefer direct verification on their hardware wallet. However, this design choice aligns with Tangem’s focus on simplicity and ease of use, as it eliminates the need to navigate on-device menus.
Conclusion
In summary, the Tangem Crypto hardware wallet offers a unique blend of user-friendly design, robust security, and support for a wide range of cryptocurrencies. Its innovative approach to security, with a focus on seedless storage and NFC functionality, makes it a compelling option for users seeking a modern take on crypto storage. Additionally, its affordability compared to many other hardware wallets adds to its appeal.
While Tangem’s offering has its advantages, it’s crucial to remember that no storage solution is entirely risk-free. Users should always follow best practices for securing their digital assets, such as keeping their devices up-to-date, backing up their recovery information, and storing their wallets in secure locations. Additionally, users should be aware of the legal and tax implications of cryptocurrency transactions in their respective jurisdictions.
The Tangem wallet is available for purchase on its official website and from select retailers. Users can choose from various card packs, including the Tangem Twin (a set of two cards for added redundancy and security) and the Tangem Trilogy (a pack of three cards designed for users who wish to separate their funds or gift crypto to friends and family). These options cater to different needs and preferences, further enhancing the versatility of the Tangem wallet.
Overall, the Tangem Crypto hardware wallet is a promising solution for those seeking a secure, accessible, and affordable way to manage their digital assets. Its innovative features and focus on user experience make it a compelling option for both novice and experienced cryptocurrency users.
Industry News
Easy Crypto launches new Australian wallet aimed at first-time crypto investors
Published date: 21/08/2024
With over AUD$2 billion in total sales to date, Easy Crypto today announces the launch of a new ‘beginner wallet’ aimed at Australians looking for an easier way to buy, swap, hold, and sell their crypto.
Easy Crypto, New Zealand’s largest non-custodial cryptocurrency exchange, is expanding its trans-Tasman presence in Australia with its first Australian wallet designed for those new to crypto. The Easy Crypto Wallet has been created to deliver the simplest and safest experience for anyone looking to manage their own cryptocurrency. It acts as ‘one wallet for all your crypto’ – offering investors a broad breadth of 50 popular coins backed by the latest security and recovery technology – all within a single simple app.
While there are other crypto wallets on the market aimed at seasoned crypto investors familiar with the technical processes and jargon of the sector, Easy Crypto’s wallet is designed specifically to meet crypto beginner’s needs. It aims to onboard the next wave of first-time crypto investors by simplifying buying, selling, swapping, and storing crypto and its hundreds of thousands of current users can testify to this.
Cold Hardware Wallets: The Ultimate Security Solution
In addition to the streamlined features of the Easy Crypto Wallet, consumers can further enhance their security by utilizing cold hardware wallets. These physical devices are designed to store private keys offline, providing an additional layer of protection against unauthorized access and theft.
By using a cold hardware wallet, individuals can effectively mitigate the threat of phishing attacks and other cyber threats. Even if a user is tricked into clicking on a malicious link or downloading malware, their private keys remain safe within the hardware device. This prevents attackers from gaining control of their funds, ensuring that their digital assets remain secure.
The Easy Crypto Wallet was originally launched in New Zealand in November 2023.
Demand for crypto wallets is growing in line with increasing institutional adoption of the asset and acceptance of crypto as a viable investment option. In 2023, the total number of crypto wallet users globally was 84.02 million, up from 76.32 million in 2021 (source: Polaris Research).
There is growing investor appeal for everyday Australians of all ages investing in crypto but many would-be consumers don’t know where to start. An estimated 1 in 5 Australians currently own crypto with many more expected to move into crypto investments in the coming years.
“There are a plethora of wallets and competitors in this space; but most are focused on catering to what the industry calls ‘crypto bros’ – the experienced crypto core. These wallets are not easy to use; and haven’t been designed for beginners who don’t want to miss out on the next crypto bull run,” explains the Chief Commercial Officer at Easy Crypto.
Recognizing that first-time crypto investors want to be able to ‘buy’ and ‘safely store’ their crypto with ease and confidence has been key to the new wallet design. Every button and function in the Easy Crypto wallet has been road-tested with a range of consumers of all ages, backgrounds and genders.
“Easy Crypto believes our new all-in-one wallet will aid a seamless ‘onramp’ to crypto. Our Easy Crypto wallet puts you in control as customers hold their own coins, not Easy Crypto, so we remove any middlemen and give users complete certainty of where their crypto is,” added the Chief Commercial Officer.
In addition, consumers won’t have to worry about losing their wallet access thanks to cutting-edge security and recovery features. This means consumers are safeguarded from the complicated seed phrases associated with traditional crypto wallets. This includes bringing enterprise-grade security technology like multi-party computation (MPC), to a consumer wallet.
“With over 1 million Australians looking to invest in crypto assets in the coming year, Easy Crypto wants to help make this more accessible by actively supporting the next generation of crypto-curious investors to get on board faster and reach that next million sooner,” adds the Chief Commercial Officer.