Tangem has released a non-custodial cryptocurrency wallet in the form of a ring

[NikeFit_7777]

Hardware wallet maker Tangem has released a non-custodial cryptocurrency wallet in the form of the Tangem Ring.

The gadget is available for pre-order for $160, with shipping starting in late October. It supports bitcoin, Ethereum and other cryptocurrencies, and has a waterproof and scratch and extreme temperature resistant case, according to the website.

The wallet connects to a smartphone via NFC. To activate it, you need to tap the ring using the company's mobile app. In the same way, the signature of the transaction is carried out. During activation, the chip embedded in the ring generates a private key, which is stored on the device and still in the form of copies on two Tangem cards. These are supplied in the kit.

The functionality of the Tangem Ring is completely the same as the Tangem Wallet cards except for the form factor. If a new wallet is lost, you can regain access to your crypto assets using the supplied cards.

Tangem Ring supports cid-phrase import and is compatible with all second-generation cards. As a reminder, hardware wallet manufacturer Trezor unveiled its new flagship Safe 5 in June.

News link: https://x.com/Tangem/status/1813525543028982212

[Freemind]

Interesting idea and concept. It reminds me a lot of Bolt Ring and Waynance Ring, although Bolt is designed for payments only. The problem I find with the Tangem ring is that I don't know if the software that needs to be installed on the smartphone is open source or proprietary, since at the moment I have not found that information on the official website. I'll keep looking to see if I'm lucky. If the software is open source it could be an interesting option, since the price is not expensive, but if the software is proprietary I prefer not to use it.

[ABCbits]

This hardware wallet definitely have unique design. Although $160 price would discourage people from buying it when their competitor offer cheaper hardware wallet. And while carrying wearing it outside our house sounds unsafe things to do, i guess some people would prefer keeping their valuable with them all the time.

[Charles-Tim]

This hardware wallet definitely have unique design. Although $160 price would discourage people from buying it when their competitor offer cheaper hardware wallet. And while carrying wearing it outside our house sounds unsafe things to do, i guess some people would prefer keeping their valuable with them all the time.

It is not even about the price of the ring hardware wallet but about privacy and safety. Some people can know the difference between the wallet and other wallets and this might lead to no privacy and physical attack. If I have a hardware wallet, I will prefer to have it save someone at my home than to be wearing it about.

[ABCbits]

This hardware wallet definitely have unique design. Although $160 price would discourage people from buying it when their competitor offer cheaper hardware wallet. And while carrying wearing it outside our house sounds unsafe things to do, i guess some people would prefer keeping their valuable with them all the time.

It is not even about the price of the ring hardware wallet but about privacy and safety. Some people can know the difference between the wallet and other wallets and this might lead to no privacy and physical attack. If I have a hardware wallet, I will prefer to have it save someone at my home than to be wearing it about.

I mentioned price since i expect average people would consider it's price first. And while i agree people should consider security and privacy first, i don't expect that many people could tell difference between this Tangem ring, smart ring and ring.

[Freemind]

It is not even about the price of the ring hardware wallet but about privacy and safety. Some people can know the difference between the wallet and other wallets and this might lead to no privacy and physical attack. If I have a hardware wallet, I will prefer to have it save someone at my home than to be wearing it about.

I also prefer to have the wallet at home, but depending on the use we give it, the ring can be very useful. If we live (or visit) a place where we make payments with Bitcoin or other cryptocurrencies in our daily lives, the ring is easy to use and most importantly, no one has to know that the ring we are wearing (except stores) is for make payments. I suppose it is a matter of taste, of the use we give it, but above all of being clear about the necessary security.

[Charles-Tim]

I also prefer to have the wallet at home, but depending on the use we give it, the ring can be very useful. If we live (or visit) a place where we make payments with Bitcoin or other cryptocurrencies in our daily lives, the ring is easy to use and most importantly, no one has to know that the ring we are wearing (except stores) is for make payments. I suppose it is a matter of taste, of the use we give it, but above all of being clear about the necessary security.

Yes it would be a matter of preference. If I make use of bitcoin for frequent transactions, I will leave some of the coins on my hot (mobile) wallet which I will be using for the frequently payment. But I do not like the idea. I will prefer to spend fiat. I do not like the idea because people that you sent the coins can trace the coin to you and know about some of your other coins if not spending it wisely. You may need a mixer for it every time. I can easily covert to fiat which makes me prefer it than to go for extra stress of privacy than usual.

[PX-Z]

That's definitely a unique design there. But for it only to be used using the mobile wallet? It does not make any difference from any mobile wallet available then. So i will prefer to use a mobile wallet instead. Well, it depends on personal preference, maybe for collectors, that would be another item to be added.

[dkbit98]

That's definitely a unique design there. But for it only to be used using the mobile wallet? It does not make any difference from any mobile wallet available then. So i will prefer to use a mobile wallet instead. Well, it depends on personal preference, maybe for collectors, that would be another item to be added.

I wouldn't say that ring shape is unique design.
We already have similar devices used before for nfc payments, and I know two more manufacturers who are making ring shape hardware wallets that should be with open source code.
This type of hardware wallets are less secure than hardware wallets with screen and address confirmation, so I wouldn't recommend people holding a lot of coins with ring.

[bee]

Tangem Ring supports cid-phrase import

I'm new to this term, can anyone explain more?
And how is it imported? Will the phrases be displayed on the phone screen?

[joniboini]

I'm new to this term, can anyone explain more?
And how is it imported? Will the phrases be displayed on the phone screen?

I think that's a typo. Judging from their description on the webpage[1], they're referring to seed phrase just like other wallets. Not sure how the process is done, but assuming the ring offers no UI you'll definitely need your phone to manage it. I don't think that's new considering we've seen NFC-based wallets or something similar in the past. Not to mention their description basically says the ring is just another form of their card. CMIIW.

[1] https://tangem.com/en/ring/

[libert19]

Tangem Ring supports cid-phrase import

I'm new to this term, can anyone explain more?
And how is it imported? Will the phrases be displayed on the phone screen?

I have tangem card, and ring also works similar, you swipe tangem ring to your NFC enabled phone, and tangem app will let you do the rest including importing seed phrase.

[dkbit98]

I have tangem card, and ring also works similar, you swipe tangem ring to your NFC enabled phone, and tangem app will let you do the rest including importing seed phrase.

You mean the same APP that leaked backup keys that resulted in people losing all their coins? 
I would stay away from all tangem products, until they decide to change their policy, be more transparent and switch to open source code.
There are much better alternatives in card format and I think more manufacturers will try making ring HW devices.

[libert19]

I have tangem card, and ring also works similar, you swipe tangem ring to your NFC enabled phone, and tangem app will let you do the rest including importing seed phrase.

You mean the same APP that leaked backup keys that resulted in people losing all their coins? 

I don't have any idea about that, can you link me news?

[dkbit98]

I don't have any idea about that, can you link me news?

C'mon man, don't be that lazy,there a re a bunch of articles written about that 
They claimed this ''bug'' is now fixed and they even wrote an article about that on their website blog page:
https://tangem.com/en/blog/post/tangem-resolves-log-issue/

I also don't like they are pushing users not to use seed words backup... that could result in even more catastrophic losing of coins.
If Tangem goes bankrupt or hacked, there won't be any way to recover your coins on any other wallet.