The Tangem cold wallet, my thoughts
Good morning/evening.
Tangem cold wallet.
https://tangem.com/en/
So I went and got myself a Tangem cold wallet and I would like to share with you what I have learned so far. I have a ledger nano and I quite like it but the model is being discontinued and I was concerned that updates if any would stop or become an issue. As much as I like the Ledger sometimes I do find it (or I) can be a bit slow, check,click, check click......So I thought let's try the Tangem wallet. This would not be for long term storage, more of an extra layer of protection for my daily use wallets, predominantly Solana and Phantom. The idea was that Tangem would not be so clunky and when you want to spend your funds, you simply tap it to your phone and it’s authorized and signed using NFC technology, The only thing with that is there is no display so you don't know if what you are authorizing is right, you just have to 'trust' the smart contract.
The Tangem hardware wallet is quite simple and elegant as it’s just an NFC based card that you tap to your phone. You can purchase sets of 2 or 3 cards and a ring is also an option.
Each Tangem card has the NFC antenna connected up to a Samsung produced S3D350A chip. The card’s chip is EAL 6+ certified and the whole card is water and dust proof with an IP68 rating. They also claim it’s able to withstand X-rays, EM pulses and even electrostatic discharge along with temperature ranges of –25° to 50°C.
Also you can only use the Tangem wallet on a mobile device, which although not the best for me as I do prefer using a laptop it was not the end of the world.
Order process
This was easy and we could pay with crypto, I used SOL and I had a confirmation almost immediately. Couldn't fault this.
Delivery
Again this was super quick especially for where we live and we received this in under a week
Ring
We ordered the ring thinking it would be handy when we are away from the house. We spent an age measuring rings I currently have that fit as well as tying things around my finger and measuring that. We chose a size and although a little large for the intended finger, it did fit on another finger so all was fine, but after wearing it for a day, I found it really chunky and uncomfortable. I presumed that as crypto is mostly male orientated that the ring was possibly designed for a male, so I then made my husband wear it for a day to see if he found it more comfortable. It is now back in its box! He also found it uncomfortable but one of us will possibly have to wear it at some point.
As for set up and use, the NFC chip in the ring is not as easy as the card, it is either take the phone cover off or take the ring off as it takes quite a lot of tries to get it to work if your wearing the ring and if you are slightly impatient like me it is a bit annoying.
Cards
We had 2 cards as back ups, these were very easy to set up, just a tap on the phone and are a lot easier to use than the ring. Set up was very easy with clear instructions and only took minutes. You also had the choice of storing your seed phrase within the chip or writing it down and storing it yourself (I did this)
Wallet connect
So far I am not a fan, it seems slow (but I find everything seems slow after using Solana for so long!) I have not played around much but I did send some HNT over to test. It does say HNT is a supported token but once there though I was unable to swap or sell it. I know it is not a widely used token so it wasn't really a problem.
The fees on everything I have done so far seem around 5 cents per transaction, so not too bad, not Solana great either, but it seems like I would have to move all assets to Wallet Connect for it to work with Tangem which is not really what I want. The Tangem wallet supports a lot of tokens and wallets but not Phantom and not the Dapps I am currently using. (My bad, I should have done more research).
So to conclude I think the Tangem wallet is probably ok for long term storage of many tokens but that is not really what I wanted it for. If I am honest I should have just got a newer Ledger device with a touchscreen and probably will at some point, but that is just me. I like the cards and the ring would be great if it was not so chunky and the NFC chip was not so tempermental to interact with. It will have its uses at some point in the future and there may be updates too. I will have to play around with it a bit more as these are just my initial experiences for now.
Have you got a Tangem cold wallet? What is your cold wallet of choice and why?
As always thank you for reading and please feel free to comment.