Tangem Crypto Wallet Review

Storing crypto easily and effectively is what most of us are looking for.

We want convenience and security within the reach of our back pockets.

So, imagine carrying around your crypto in a secure cold wallet just like a credit card. 

Tangem Wallet claims to give you just that: the highest crypto security in the palm of your hand. 

This post will provide a Tangem crypto wallet review, guiding you through the fees, supported cryptocurrencies, pros and cons, and the set-up process.

We will even compare it to other crypto cold card wallets and determine whether Tangem is best for safeguarding digital assets.

What Users Are Saying About Tangem Wallet

Right off the bat, the reviews are mixed. Tangem Wallet has been on the scene since 2017, registered as a Swiss-based company. 

It is a hardware wallet that uses NFC technology to sign into your account by simply tapping the card on your phone. You can purchase 2 or 3 card sets, depending on how many physical card backups you want.

The company aims to keep things simple and clear for users, valuing convenience and security as their top-selling features. 

Here’s what Tangem Wallet users have to say:

The Good,

The Bad,

And the Ugly…

Improvements For Users

Tangem Wallet has kept its sleek, credit card-sized design with NFC functionality.

This is valued among users as it provides easy portability and quick access.

Recent app updates have also aided in usability by introducing support for co-branded Tangem cards. This allows for more flexibility and an improved user experience.

Our Complete Review of the Tangem Wallet

When choosing a hardware wallet, it’s vital to look at user experiences, but not everything you read can be taken at face value.

To help you decide if the Tangem Wallet is right for you, we’ve reviewed its security, usability, supported assets, and pricing to help you understand how the Tangem Crypto Wallets function and if it’s worth it!

💰 Pricing & Fees

• Two-card set: $54.90
• Three-card set:$69.90
• Transaction Fees: No additional Tangem fees apply, only standard blockchain transaction fees. This is for when you buy, sell, or trade crypto.

🔐 Security Features & Certifications

• EAL6+ Secure Chip: This is considered the highest security certification for a hardware wallet.
• Seedless Backup Model: No 12- or 24-word seed phrase is needed; instead, you can activate multiple backup cards.
• NFC-Only Access: Private keys never leave the card.

🧑‍💻 Setting Up & User Experience

1. Download the Tangem app.
2. Tap the card to your phone via NFC.
3. Follow the prompts.

🪙 Supported Cryptocurrencies

• More than 6,000 assets over 80+ networks.
• NFT & DeFi compatibility via WalletConnect for the use of decentralized apps.

🗣️ User Feedback: What’s Good & What Needs Improvement?

✔ Pros:

✅ Easy setup & fast access.
✅ Security without a seed phrase: Some users like that they don’t require another cold wallet backup.

❌ Cons:

⛔ Customer support needs major improvement.
⛔ Privacy concerns: Some users (and ourselves) are skeptical of the lack of a traditional seed phrase for recovery.

Potential Issues with Tangem Wallet

One of the biggest concerns about Tangem Wallet is what could happen if any of the physical cards are lost, stolen, or broken.

Usually, a hardware wallet will always have seed phrase recovery integrated into its setup.

It is a security feature that is almost indispensable, which is why Tangem Wallet was “forced” to introduce this security feature in 2024.

Up until then, Tangem argued against the use of a recovery phrase for your crypto! 

Potential Issues With Tangem Crypto Wallet

1. Tangem now offers seed phrase recovery if you’d like to set it up. But, they don’t offer any protection for these seed phrases other than suggesting that you write it on a piece of paper.

2. The cards themselves are made of plastic. Not steel or another strong material, so the possibility of them snapping or breaking is a high risk with wear and tear from everyday use. 

Similar to a paper wallet, the potential of losing your private keys due to storing them physically on a destructible material is not the safest option.  

3. Anonymity and privacy are questionable with Tangem Wallet as they require KYC verification.

The platform relies on third-party apps, such as MoonPay for buying and selling crypto, which means your private information is also shared with these service providers and makes your crypto history traceable. 

Alternative Cold Cards

When searching for alternative cold wallet options, there are so many on the market that promise to safeguard your crypto.

Read our updated review of Arculus vs. Tangem Here.

Cypherock, Ledger, Trezor, and Arculus wallets, all share similar objectives to crypto storage, but Material Bitcoin stands out among these options for a few reasons. 

Final Thought on Tagnem Wallet

The idea of a sleek and convenient cold ward seems like a great option for users looking for fast access, including the additional “backup” cards that can be used for added security.

But the reality is that KYC regulations, lack of customer care and support, and the fragile state of the physical cards itself, doesn’t add a sense of safety but rather raise doubts about the wallet’s security standards and measures. 

Material Bitcoin offers a great solution appealing to all the positive aspects of Tagnem without the worry of third-party interactions or fear of damaging the card itself. 

FAQs

How safe is the Tangem wallet?

• Tangem wallet uses EAL6+ secure chip to protect against cyber threats, however the lack of anonymity to transactions and third-party affiliates questions the wallet’s safety protocols. 

Are Tangem cold wallets good?

• Yes, Tangem cold wallets are known for their easy-to-use set-up and interface, along with their backup card options. A good wallet option for those looking for quick and fast access to crypto assets. 

Is Tangem Wallet traceable?

• Yes and No. Its use of NFC technology eliminates connecting to online platforms which aids in the safety of your private information, but transactions rely on third-party set-ups, such as MoonPay, credit cards, and bank transfers, which all possess your private information. 

What is the difference between Tangem and Arculus?

• Tangem uses an EAL6+ secure chip with no seed phrase, while Arculus uses 3-factor authentication (card, PIN, biometrics).

What is the difference between Tangem and Material Bitcoin?

• Tangem is a mobile NFC wallet with an EAL6+ secure chip, while Material Bitcoin is a 100% offline metal cold wallet that stores your private keys. Tangem is ideal for on-the-go use, while Material Bitcoin is best for long-term, offline storage.