- Tangem is introducing a trendy new way of securing your crypto portfolios – with a sleek, black ring.
- The hardware wallet intends to combine the security of cold storage with the convenience of a wearable device, allowing day-to-day usage.
- Eventually, Tangem plans to integrate a Visa chip into the device to allow convenient spending of crypto assets within the EU.
Unfortunately, no. Blockchain tech has not come far enough to produce a ring that allows its wearer to go invisible and afford them unmatchable power… yet… However, Tangem has taken one step toward this reality with its newest hardware wallet – a wearable ring.
The ring will operate like any other hardware wallet, allowing self-custody over crypto assets while its nature as an accessory will unlock the convenience of day-to-day transactions.
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Tangem Wallet Holdings to be Protected Even if Ring is Lost
A few obvious concerns come to mind when we think of a wearable crypto wallet. The main issue is that rings are pretty easy to lose, especially after a night out on the town. Is it really the best idea to be risking thousands (if not more) worth of crypto by spruiking your slick ring in public?
As this is the most obvious problem, it’s something that’s been addressed by the Tangem development team:
The ring, like the Tangem wallet in card form, is protected by an access code…Inside, there is an EAL6+ secure element, which is impossible to hack…
Tangem CTO Andrey Lazutkin The founder of CyberScrilla, a hardware wallet expert, also noted several security advantages of the Tangem product.
Even if you lose it, there are security measures in place to ensure that no one can access your crypto, even if they discover that the ring is a crypto wallet
Alex Gomez, Founder of CyberScrilla Visa Chip to be Integrated Next Year
The biggest plus of a crypto ring – or any wearable for that matter – is combining the security of cold storage with the convenience of day-to-day usage. One of Tangem’s core philosophies is that digital assets aren’t meant to sit inside a bank vault – they’re meant to be spent. And unless you’re sitting at a desk all day, using a USB device to trade or transact crypto tokens isn’t always practical.
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The Tangem hardware wallet is slated for an October launch and will be available to European and UK customers. For the first few months of its existence, the ring won’t actually have payment capabilities, so will mostly operate as a trendy way to securely store your assets.
However, Tangem plans to integrate a Visa payment chip in 2025 to take its functionality to the next level.
Source:
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