Tangem Wallet Review 2024
Tangem AG is a high-tech cryptospace company with headquarters in Switzerland and subsidiaries in North America, Eastern Europe and Asia-Pacific. They have developed a very special hardware wallet the size of a credit card: The Tangem Wallet.
Securely hold, buy, stake, send and swap more than 1.000+ (to the complete list) tokens in one app. Everything is confirmed by briefly tapping the card to the smartphone. Find out how this works and what else you need to know about the Tangem Hardware Wallet here.
First Impression
Buy the Tangem Wallet online
You can order the Tangem Wallet in our own store from around 50,00 $ (click here to check the current price). Tangem wallets are always available in a set of two or three cards, as one card always acts as a backup at the same time. More on this later.
Various payment methods are available in the store, including credit card, PayPal and cryptocurrencies. Shipping costs are added to the normal price.
Hardware Wallets should preferably be ordered directly from the manufacturer or official resellers if possible. Dubious stores or private sellers on platforms like ebay or amazon could manipulate the devices for their own purposes or trick the buyer. This way, the thieves can steal all the coins from your hardware wallet at a later time. Unfortunately, there have already been such cases in the past.
Unboxing the hardware wallet
The Tangem hardware wallet comes in a rather small box that is sealed on the underside. This allows you to check whether the box has already been opened.
The entire contents of the Tangem Box
When you open the box, you are immediately confronted with the Tangem wallets. Underneath there is a short quick start guide and legal information.
The cards are cards the size of a normal credit card. They are completely in matt black and have a very high-quality appearance. There is a unique identification number on the back.
The cards are made of plastic, are 85x54x1mm in size and weigh 6 grams. According to the manufacturer, the hardware wallet can withstand temperatures from -25°C to +50°C. It also looks very robust in other respects and can be bent slightly without any problems.
Setting up the Tangem Wallet
To set up the Tangem Hardware Wallet cards, you need to download the corresponding app from the Google Play Store or Apple App Store.
Never use a hardware wallet that is already set up. You must choose your own PIN code or password and do the backup yourself. This is not given by anyone!
As soon as you start the app, you will be taken by the hand and the set-up process can begin.
Create the wallet
As soon as you are prompted to do so, tap the card to the smartphone for about a second. You will then be asked how you would like to create your wallet. There are three possibilities:
- Generate a new wallet and leave the private keys on the card. This is recommended by Tangem. Because you still have one or two backup cards, it is unlikely that you will lose access to your cryptos.
- Or you can choose the solution known from other hardware wallets and have a recovery seed generated in the form of 12 words. Of course, there is a risk that someone could copy and steal the seed. However, you still have a backup even if all the cards are gone or defective.
- Or thirdly, you can import an existing wallet with the help of a recovery seed.
Your Recovery Seed is the backup key to all your cryptocurrencies and apps. The Recovery Seed (backup) can only be viewed once. Never make a digital copy of the Recovery Seed and never upload it online. Keep the Recovery Seed in a safe place, ideally also safe from fire and water. Special backup products, for example Billfodl are suitable for this.
No one but yourself can be held liable for any financial losses caused by improper handling of sensitive data.
Create the backup and set an access code
For this test, I opted for the recommended first method. You should then link one or two backup cards to the Tangem hardware wallet. This is the only way to be protected if a card is lost.
To protect your Tangem wallets, you can assign an access code consisting of any characters. Later, a different code can be defined for each card. It is important to know that you can reset the code with a backup card, so you should not keep all cards in the same place.
To complete the set-up process, you need to tap all the cards up to the smartphone one by one. The setup is then complete and you can activate biometric unlocking of the app if necessary. This allows you to unlock the app without the card and you don’t always need to enter the access code when interacting with the card.
The following video shows the entire setup process for the Tangem Wallet.
When you play this YouTube video, data is transmitted to Google.
Conclusion of the Setup
The app is very user-friendly and tidy. This makes the setup very easy to do. The cards are recognized very quickly via NFC on my test smartphone. The haptic feedback when creating the map is really fun and everything seems very well thought out. As promised, setup is completed in just a few minutes.
Handling the Tangem Wallet
After activation, you can use the wallet to manage cryptocurrencies. The app displays the current prices, the total value and the details of the individual cryptocurrencies stored on the card.
Making transactions
To carry out a transaction, simply tap the card to the smartphone and select the desired action, such as sending, receiving or exchanging. The staking of cryptos is also planned. The app displays the necessary information, such as the address, the amount and the fees. To confirm the transaction, you have to tap the card to the smartphone again and enter an access code that you set during activation or select biometric unlocking. This step serves as an additional security layer to prevent unauthorized transactions. The app displays the status of the transaction and updates the wallet accordingly.
Web3.0 and dApps on the Tangem Wallet
WalletConnect is a protocol that enables the connection of Tangem Wallet to various dApps (decentralized applications). WalletConnect helps to send tokens for staking, swap crypto, buy or sell NFTs and much more.
WalletConnect in Tangem Wallet supports almost all common EVM networks.
Manage multiple wallets
What I also like is that you can manage several wallets in the app, including different Tangem wallets. You can also rename the individual wallets so that you don’t lose track.
Supported cryptocurrencies and devices
The Tangem Wallet is designed for mobile use and is therefore only supported by Adroid and iOS.
1.000+ (to the complete list) tokens are currently supported on various blockchains. A complete list with search function is available on the official Tangem website: Tangem cryptocurrencies. Among others, the following coins are supported:
- Bitcoin
- Litecoin
- Dash
- IOTA
- Tron
- Tether
- Solana
- Shiba Inu
- Avalanche
- Dai
- Quant
- Stellar
- Tezos
- Ethereum
- Dogecoin
- Ripple
- Cardano
- BINANCE COIN
Documentation and Support
The Tangem website has a dedicated knowledge section, a FAQs section, and a page that assists with the setup process. The content is created in English.
Support can also be reached via the app’s built-in chat function or via Telegram.
Tangem Wallet Security
Like every hardware wallet, the Tangem Wallet generates a unique private key that never leaves the hardware wallet. With Tangem, it is also possible that not even the recovery seed will be released. Instead, you can set up multiple Tangem wallets, with the others serving as backups in case of loss.
However, many argue that you don’t really own your cryptos if you don’t also own the keys. So it’s good that Tangem offers both options here.
Tangem safety summary from the official website
Assessment security level EAL6+ certification
Tangem has also had its safety concepts externally certified. According to Tangem, the wallet has the highest certification level among direct competitors, which guarantees that there are no backdoors – EAL6+ from Common Criteria. This was tested by the world’s leading laboratory Kudelski Security. They confirm the security in their report: “In particular, we didn’t find any backdoor, malicious or suspicious undocumented feature in the firmware.”
No display
One disadvantage of the Tangem Wallet is the lack of a display.
Without a display, a hardware wallet is very vulnerable to attacks by the software to which it is connected. For example, if we want to create a new address to receive cryptocurrencies, we have to rely on the software, in this case the Tangem app, which shows us the address on the smartphone. But what if the software has been hacked and shows us a wrong address that doesn’t match our hardware wallet? We have no way of checking this on the hardware wallet and could therefore lose our cryptocurrencies.
The same problem exists with transactions. Without a display, we cannot be sure whether the software is sending us the correct transaction for signing to the hardware wallet or whether it has secretly prepared another transaction that is going to a different recipient.
However, this is more of a theoretical problem, as the app is open source and targeted attacks on smartphone apps are rather rare.
The Tangem app is open source
Tangem promises that there are no back doors in the app. Anyone can check it for themselves by looking at the source code on GitHub. No personal data is collected and no dedicated servers are operated to carry out transactions on the blockchain.
IP68 protection class
Furthermore, the hardware wallet is optimally protected against external environmental influences thanks to its simple design. According to Tangem, this makes it the only hardware wallet with the highest possible level of environmental protection – IP68. The IP68 certification defines on the one hand that the device is dust-proof, and on the other hand the protection against permanent submersion up to a maximum water depth of 1.5 meters for a maximum of 30 minutes. Moreover, the card is durable enough to work from -35°C to +85°C. The chip does not break – there is nothing to break, and the service life is at least 25 years.
Product Specifications
| Advantages | |
| Disadvantages | |
| Compatibility | DApp |
| Cryptocurrencies | Bitcoin, Litecoin, Dash, IOTA, Tron, Tether, Solana, Shiba Inu, Avalanche, Dai, Quant, Stellar, Tezos, Ethereum, Dogecoin, Ripple, Cardano, BINANCE COIN |
| Package Contents |
|
| Brand | Tangem |
| Platform | Android, iOS |
| Altcoin Support | |
| Supported Coins | 1.000+ (to the complete list) |
| Open Source | |
| Secure Element | |
| Display as 2FA | |
| Interfaces | NFC |
| Weight | 6g |
| Size | 85.6 x 54 x 1mm |
User Reviews 28
is the seller on amazon the tangem manufacturer themselves? i can see the seller storefront name is tangem but i dont no if its actually tangem themselves? as i wont purchased from a thirty party no wallet is tamper proof
Last night I had my WMT, Meld stolen all because Tangem wouldn’t let me swap it back to Eth so I could send in back to my Exchange…who cares if Tangem has back up…means nothing if you can’t swap Token back to Eth…my money was basically frozen before a scammer contacted me to tell me how I could fix this Tangem issue….yes I got scammed…but it never would have happened if it wasn’t for Tangem in the first place…don’t Use Tangem
Horrible user interface
Worst wallet I have used so far
This is a shit company. They took my money and told me the wallet will arrive within 6 weeks. It’s been nearly 2 months and I never received it. Very disappointing!!
Did you try contacting them? I’m serious. They have great customer service, in my experience, and answer within 24 hours.
what if the internet goes down , how do I get at my money ? cash I got in my pocket or under my bed . No internet no money .
If the Internet goes down the world basically stops. Banks go down, Phones go down, everything goes down. If I were you I would take all my money out of the bank while you still can and put it under my mattress for safe keeping.
How to retrieve crypto if tangem went bust? no seed phrase to use on another wallet
If Tangem suddenly disappears, their software will keep working. It is not dependent on Tangem. At that point get a different wallet and transfer your funds on the chain.
Customer service is non existent and that’s usually a great sign of how the product works. Website is lacking info and everything so far seems like it was put together by 8th graders. I’ll keep it as a backup in case something happens to my Ledger, D’Cent or Ellipal. But this isn’t what I hoped it would be when I ordered it.
Customer service its now top notch and their website is one of the best out there. Give it another look.
Is this a wallet ? Can I send crypto to it or just buy with it?
It is a wallet and, yes, you can send and receive transaction. You might want to look at their website. Tons of info there.
This is the worse wallet I ever used. Transactions carried out wrong, assets not arriving at the wallet, transfers getting lost and although found back it should not happen, I would stay very far away from this thing and rather use my BC Vault, Ledger Nano X or Safepal S1 at least they work properly and although they are more expensive they are more reliable, by the way Safepal is around the same price and air gapped
how are the backups made? doesn’t it mean the key is exposed to the app??? Is the app generating the key? Something’s strange ..
no your card has the key generated on it. the app doesn’t get the key nor do you to lose.
This is from Tangem’s Help page.:
When a backup is created, a secure communication channel is established between the cards using the Diffie-Hellman key exchange protocol, after which the keys are transferred from one card to the other. This mechanism is fully protected against man-in-the-middle attacks since the first step involves the cards authenticating each other with a two-way attestation, and the encryption is done with a 256-bit key. This is a top-level encryption protocol, and the application will not be able to decrypt the keys under any circumstances.
Can a si gle Tangem Wallet card support multiple blockchains and crypto like Bitcoin, XRP, Cardano simultaneously?
Yes.
I find this easier type of hard wallet fascinating. It is exactly what we need in order to make it user friendly enough to be mass adopted.
The only detriment is that it is not open source.
Are there any similar products that are open source? Please let us know.
The software is allll open source and available for download on GitHub. The firmware is not open source s they use a Samsung chip for security and they require a non-disclosure for security. Not even Tangem can get into the firmware to change anything. It is locked down tightly. All other card based systems have the same setup. The security is in the fact that the firmware in untouchable. On the other hand it has been audited twice and found to be clean. See Tandem’s]’s website for details.
It’s the best hardware wallet for me. It’s easy for use, EAL6+, secure, mobile, no batteries
I must be a lucky to find this wallet. Everything I was searching to just in here. All coins I need and security standards that I believe the only right. Even if the company stops working please no doubts your wallet is alive and working because it’s work does not depend on any of company’s servers. Switzerland guarantees the high quality. My crypto is in the most secure wallet now one hundred percent.
What happens if the company goes out of business? Say the app goes down then what? I have to have the app to access my crypto. So what if there’s no app all the sudden? No app=no crypto??
Was asking myself the same thing, and they gave an answer to that to someone that asked them on Twitter: https://twitter.com/LibertyCoiner1/status/1543071074933526528
Is there anyway to use your app on my GrapheneOS based phone?
The app is not tied to Tangem except for keeping your history up to date. The app will keep running even if Tangem disappears with no warning. If the App quits and iPhone and Android both quit carrying it without warning at the same time then it is downloadable from GitHub and can be recompiled. If you don’t have the skills, give it a day or two and someone who does will make it available. I find that scenario rather far fetched, though. If you are that worried then you can now download the seed phrase and recreate the wallet on any other hardware wallet.
It is very good product 👍
FAQ 4
Ask your own questionWhat makes the Tangem Card unique?
It is guaranteed that the private key will never be disclosed. Handing over a card is inherently a payment transaction outside the blockchain. You can sell them as merchandise, send them as gifts, or use them as payment. Basically, it’s a secure, smart banknote for digital assets.
What is Multi-Sig?
Multi-Sig is a security feature enabled by asymmetric cryptography. It allows two keys, stored securely and secretly in the security element of each card, to independently sign a transaction to send money from the same wallet address. With this level of security, users can reduce the risk of a single-key wallet.
How can I give away cryptocurrencies safely and easily as a gift?
Christmas, a birth, a wedding or a birthday is coming up and you want to give something special. In the process, it is becoming increasingly popular to give away cryptocurrencies like Bitcoin. Because these gain more and more importance and often also value over time. But what is the best way to give away cryptocurrencies?
Of course, you can generate a wallet for the recipient and give him the private key. This can be done in the form of a paper wallet or write the recovery seed in a card. However, this is cumbersome for both sides and requires some basic knowledge on the part of the recipient.
It is easier and more elegant to use a certain type of hardware wallet. These are wallets that act like a traditional banknote and often take the form of a credit card. An example of this is the Tangem Note. You can easily “load” them with cryptocurrencies via smartphone app and then give them away. The recipient can keep the card, give it away or later also spend the cryptocurrencies via smartphone or send it to a trading exchange of his choice, for example.
Give away cryptocurrencies safely and easily with Tangem Note
The major advantages of giving away cryptocurrencies this way are the following:
Of course, this comes at a further cost, but give away a great value of cryptocurrencies, the investment is definitely worth it.
What’s the difference between a 2-card and a 3-card set?
A 3-card set gives you a better chance at recovering access to your wallet than a 2-card set. If one card is lost or stolen, you can use the other card to access your wallet. But if you lose one card AND forget your access code, you’ll need a third card to reset the access code. Therefore, we recommend getting the 3-card set.