Tangem Ring: The Future of crypto security and self-custodial crypto wallet

Like Beyonce once said, "if you liked it then you should have put a ring on it!" Prepare to put a ring on the world's first wearable crypto hardware wallet, the tangem ring - a novel self-custodial crypto wallet shaped like a ring. This device aims to blend the security of hardware wallets with the convenience of everyday wear, enabling seamless cryptocurrency transactions.

A ring that is totally inconspicuous

WallStreet Journal recently released a documentary, exploring how easy it would be to access all of your money in your bank if a person could just get their hands on your phone password. Upon unlocking your phone, the thief can swipe out everything from your bank account in just a matter of seconds. So how is the crypto ring different, you would ask? Would I be the target for people to steal my crypto assets if I am wearing this in public?

The short answer is no. Unlike a bank card, which is a clear indication that it has money inside, the Tangem ring looks so much like any other accessory ring that no one would know that you are wearing a crypto wallet on your finger unless you announce it at the top of your lungs.

Best option among other self-custody wallet choices

Just like any other wearable ring, the greatest advantage is accessibility and portability. How often do you realise that you have left your wallet or phone in the jeans or coat that you wore to work yesterday? This is a common issue that users face when they are using their phones or cards as their e-wallets. But I can assure you that you will never face this issue with this ring because it is on your finger 24/7.

The ring is IP6 water resistant and made of ceramic material that gives the ring its strong and steady exterior, giving you the go about your day without having to worry that you would accidentally damage it.

The Tangem ring also doesn't have a battery in it, so you won't have to worry about it running out of battery. All you would need is your phone, the Tandem app, and your ring.

Well-rounded protection system

Tangem has reassured users that the company employs robust protection. Using an access code and an EAL6+ secure element, it ensures that your ring is resilient against hacking attempts. The fact that you are wearing the ring on your finger also adds another layer of security as it makes it literally impossible for another person to take it from your finger without you noticing. Even in the event of loss or theft, the stringent security measures that are put in place would prevent unauthorized access to the cryptocurrency stored on the ring.

The Tandem ring is also a cold wallet, meaning that it is not connected to the internet. This means that hackers would have no way of getting into your tangem ring and getting their hands on your assets.

A move towards the future

The regulatory landscape for self-custodial wallets such as the Tangem Ring is evolving. Initially launching without payment capabilities, the ring plans to integrate with a Visa payment chip by 2025. This cautious approach aligns with global regulatory frameworks, ensuring compliance in regions where Tangem operates, including Europe and the UK.

European regulatory concerns about self-custodial solutions, including proposals to restrict crypto payments, have surfaced but were ultimately abandoned. This context highlights the dynamic nature of cryptocurrency regulation and its implications for emerging technologies like wearable wallets.

In conclusion, the Tangem Ring represents a significant advancement in making cryptocurrency more accessible and secure for daily use. As the market embraces self-custodial solutions, these innovations could catalyze broader adoption of cryptocurrencies for everyday transactions and financial management.