Tangem is launching their newest cold wallet soon. The only thing is… it doesn’t look like a wallet but a cold storage ring.
The first 100 prototype rings were revealed at the 2023 Cardano Summit and Tangem was nice enough to give these rings to the attendees to gain feedback and create the perfect product that everyone wants to see.
The new Tangem wallet will be the first of its kind but what is it exactly? How does it work? And when will it be available?
If you are not familiar with Tangem, they are one of the current popular cold wallet manufacturers in the crypto industry.
Their recently launched Tangem 2.0 wallet is one of the best wallets right now taking just a few minutes to set up using nothing but your phone and one of the most affordable hardware wallets you can find from a price range of $55 – $70 USD (plus shipping costs).
About The Tangem Ring
Tangem decided to do something that no cold wallet brand has ever done and that is to make a wearable crypto wallet — it’s more of a fashion statement than it is a wallet.
The ring will work similar to the Tangem cards with the hardware being mostly identical; that means it is NFC compatible so you can access your crypto assets with a swipe of your finger.
Just like the Tangem 2.0 cards, you can generate a seed phrase or import an existing one you might have. And of course the Tangem app will support the ring so you can set up your own PIN code and biometric authentication.
The ring will also come with backup cards so that way if you lose your ring or your card, you will still have a way to access your funds. Even if you were to lose your ring, you don’t have to worry because that does not grant anyone access to your assets because they would still need your PIN code or your biometric authentication if you had that set up.
Design and Durability
The ring will be pretty inconspicuous — it will look just like a normal ring and it might even come in different colors and sizes.
It will also be just as durable as the Tangem cards so you can just wear it like a normal ring without having to worry about damaging your crypto wallet.
Its durability is a result of being crafted from zirconium dioxide which is a strong ceramic material often found in other rings, dental crowns and even joint implants — it’s known for its hardness making it ideal for extreme wear, harsh temperatures and even the toughest environments.
Although unconfirmed, Tangem is even considering collaborating with designer jewelry brands to create a more premium version of the Tangem Ring — of course, this is all just speculation since Tangem is known to have frequent strategic partnerships with their Tangem cards, and nothing is set in stone at this point.
Tangem said that it should be available sometime in Q1 of 2024, so we can expect to see this ring on the market anytime between January to March of 2024.
Tangem’s latest innovation may disrupt the hardware wallets market by introducing a unique and stylish approach to cold storage making it stand out among its direct competitors.
As the newest hardware wallet in the form of a ring blurs the line between fashion and cryptocurrency security; this should be an exciting product lineup of cold storages setting new standards in style and functionality.