Since 2018, Tangem has produced over 1,000,000 cards and has never been hacked – an astonishing achievement in the crypto industry. Many users also appreciate Tangem’s quick 3-minute setup time and unparalleled digital asset security. So, what exactly is Tangem Wallet and how does it work?
What is Tangem Wallet?
Tangem Wallet is a non-custodial cold wallet that uses powerful secure element chips developed in collaboration with Samsung Semiconductor. Tangem Wallet offers various functions such as convenient storage, buying, selling, sending, receiving, and exchanging multiple cryptocurrencies, as well as access to DeFi and dApps. Here is a brief explanation of how it works.
How does Tangem Wallet work?
Tangem Wallet consists of two main components. One component is the hardware wallet device – two to three physical Tangem cards. The other component is the Tangem mobile application, which can be used on iOS and Android platforms. Tangem cards and the application communicate via Near Field Communication (NFC), a wireless technology that allows devices to interact at close range through magnetic field induction.
Tangem Wallet features
Security
Tangem Wallet prioritizes security through the following features:
Anti-counterfeit protection: The application ensures the authenticity of the chip and firmware.
EAL6+ level security: Tangem’s chips adhere to the highest security standards, protecting users from invasive and non-invasive attacks.
Audited firmware: Independent verification by Kudelski Security and Riscure confirms no backdoors or vulnerabilities. The firmware is not updatable and has no hidden algorithms.
Open-source code: The Tangem application’s open-source code is on GitHub and verified by the community. It ensures transparency and allows for recreation if needed.
Smart backup system: The chip generates a random private key, securely transferring it between your other cards with no other copies existing.
Access code protection: Tangem cards resist unauthorized access and brute force attacks through user-selected access codes or biometric authentication.
Reliability
Tangem Wallet is IP68 certified, offering maximum resistance to dust and water. The wallet can operate between -25°C to +50°C and is protected against EMP, ESD, and X-rays according to ISO 7816-1 standards.
Privacy
Tangem operates independently, with all crypto operations connecting directly to public blockchain nodes or API services. No KYC services are required.
Simplicity
The card-shaped Tangem Wallet is portable, durable, and convenient. The setup takes only 3 minutes, and 24/7 support makes it easy for beginners to use.
Getting started with Tangem
To use the Tangem Wallet card, you will need a smartphone with full NFC support and the official Tangem application. The setup process includes scanning the card, creating a wallet, generating a private key, and creating a backup.
