Innovative Crypto Cold Wallet That You Can Wear On Your Finger – Tangem Ring Review

When it comes to keeping your crypto secure, yet portable and inconspicuous, this is the new Tangem Ring, which is in fact a cold wallet for multiple cryptocurrencies and you will never guess it!

Can’t get any better, but is it really that secure?

Let’s find out.

First Impressions

When I first heard of this product back in late 2023, I was instantly sold. I am drawn to compact devices because I travel all the time.  9 months of the year I’m on the road, so I am always on the lookout for a small, lightweight, super portable device that doesn’t look too obvious. Nothing better than a ring in that case, right? Some countries now require you to declare if you’re holding cryptocurrencies and I don’t like that, since most of the time I’m simply holding these, I’m not importing money into the country, I’m not selling on their territory, so it’s not an act I should be declaring. 

So, having something as inconspicuous as a ring fits the bill perfectly.

It’s been almost a year of waiting to get my hands on this, so I’m very excited about it. And upon first impression, it’s just as I expected. It’s indistinguishable from other rings I’ve seen made of this material and if you’re passing by security, nobody will suspect it to be a crypto wallet. That wins me from the get go.

If you do like this review and want to grab this device with extra 10% discount, use this invite link: https://bit.ly/shop-tangem

Design & Build

If you’ve seen the previous Tangem cold wallet, you’re familiar with these (cards), right? Basically, what we have here is 2 cards and a ring. All three of these can be used as its own device. The cards are mainly intended as backups, because the firmware creates a seed inside its own device and it never gets exposed or shared. Instead, it is shared between the three devices similarly to a multisig wallet. Each of these can operate on its own and for restoring a wallet you typically need two of the three components. So, one of the two cards will surely go into my parents house and these will stay here with me. I like the credit card format already, I’m using my Tangem cards and the one from CoolWallet – It’s really a great product, super convenient for day-to-day use. 

This ring stands out with a very sleek, wearable design made from high-purity zirconia ceramic—it’s actually a material we use mainly in dental implants and crowns. This is a really durable material that ensures the ring can withstand daily wear and tear, including exposure to water and extreme temperatures. With an IP68 rating, it is fully waterproof and resistant to environmental conditions, making it perfect for everyday use.

The IP68 rating is a standard used to classify the level of protection provided by a device against dust and water ingress.

• The first digit (6) indicates the level of protection against solid objects, with 0 being no protection and 6 being completely dust-tight.
• The second digit (8) indicates the level of protection against liquids, with 0 being no protection and 8 indicating protection against continuous immersion in water.

So, right off the bat, this device has no rival when it comes to water resistance. While all modern cold wallets have super security and some boast durable metal casing and so on… none of them can actually withstand being fully submerged in water for a prolonged period of time. They all have electronics that will give up after a while. Not this guy!

Security

Security is the most important feature of any hardware wallet and the Tangem Ring does not disappoint. It incorporates several cutting-edge security methods. From the specifications listed on their website I see that it has a Secure Element, certified  E A L 6 +  C C.

Developed in collaboration with Samsung Semiconductors, this chip provides unparalleled protection against both invasive and non-invasive attacks. Its certification level is the highest currently on the market, ensuring my private keys are safe from physical brute-force attacks. To be honest, even with E A L 5+ which is the most commonly used chip, the security is robust enough, it’s the chip of Ledger, Ellipal, OneKey, Keystone, SecuX and many other devices, so 6+ is indeed an upgrade, but the real kicker is a Non-Upgradable Firmware. This sounds ideal, but it baffled me for a moment, because as we know, new features and perhaps new blockchain networks, support for new tokens… many of these features require some upgrades to the firmware, but quite frankly, we usually don’t need every new feature and many of those can be done via simple software upgrades since you will be using a mobile app to navigate all features. So, unlike many other hardware wallets, the firmware on the Tangem Ring cannot be upgraded remotely. I like this for not one, but two reasons: First, this significantly reduces the risk of remote hacks by eliminating potential vulnerabilities introduced through software updates and Second, kinda as a result of the first point, the device becomes even less vulnerable to any troubleshoots in the future – what I mean is, last year I had a major error when I was upgrading the firmware of my KeepKey device and the process could not get completed, so the device malfunctioned mid-way through the process and I could never recover it. I had to import my seed into a new device to continue using my wallets. This is why I hate firmware upgrades and KeepKey had too many of those. Every few months. So every time I would connect my device, before I did anything else, it would ask me to update its firmware and it was tedious. I’m so glad I don’t have to use that device anymore.

Anyway, if you’re worried about your coins in the case of any damage or loss, don’t be. Tangem’s smart Backup Technology means that each ring comes with two backup cards linked to the same wallet. When you first set it up, you will also set up the two cards to sync with the ring, so they act as back up. During activation, your private keys are securely distributed across these three devices, providing multiple layers of redundancy. It’s similar to multisig, but not quite. Each of these cards or the ring can be used together with the mobile app, to approve transactions or other operations.

Compatibility

The coins and tokens supported are updated regularly in the mobile app and this is what you use to navigate your device, so with all Tangem products, you find that they support loads of coins, loads of blockchain networks and all their tokens. Every major network, like Bitcoin, Ethereum, Tron, Solana, Binance Smart Chain, Kaspa, Avalanche… you name it, it’s there. I often use the Binance Smart Chain versions of tokens like Tether or even Chainlink, because I save on fees this way.

App & Asset Management

Using the Tangem Ring is remarkably straightforward thanks to its tap-and-go functionality via NFC connectivity. NFC is the system your phone uses for wireless payments, like when you tap it to the card reader in a shop. Here’s how you interact with it:

You will download the Tangem app – you can do that my scanning the ring using NFC, and choosing how you want to configure your wallet—whether by using a seed phrase, importing existing ones, or setting it as a seedless wallet – this is the recommended method as it will not expose your seed anywhere, even to you, but that also means that you cannot lose your backup cards or else you can’t recover the wallet in the future. I like this option though, because with the extra 2 backup cards, it’s very hard to lose all of these. The one reason why I like having a seed phrase, is that 10 years from now, technology will have advanced and I might need to switch to a different device, which I am already doing with some of my early wallets. But since I have several wallets and many crypto accounts, I will be using this one for day-to-day stuff, not for the long term, so I like not having to bother with a seed for this. That’s the main reason I opt for multiple cold wallets from different brands – I can spread my holdings across several devices and not worry about losing all my crypto by mistake or by force. Either way, you have a choice if you want to use it with or without a seed and that’s great.

With the help of the app you will then navigate through the wallet. You can choose the tokens and coins to display, you can remove the ones you don’t need, you can get your wallet addresses and receive coins even without using the device, once you finish the setting up, the app will be able to display your balances with or without the device connected to it. For transactions, you need to have the device so you can tap it to the phone and approve or confirm various operations. Transactions are seamless, which I like, the app is very quick and your accounts are synced easily and instantly. With some of my other wallets I sometimes have to wait for several minutes and refresh the screen several times before things get up to date, so I like that here the app is much faster and my balances are always up to date.In fact, this is the only problem I had with OneKey – great wallet, but very lagging app – I always have to spend 10 minutes at least, until my balances get updated and I often see balances from like 3 months ago, even though I know I’ve made transactions since then. It’s just not updating instantly like Tangem does. And this is why I am such a fan of this brand. I simply hold the ring flat against the back of my phone near the NFC antenna to manage my cryptocurrency portfolio. I can buy, sell, and swap tokens directly within the app and the swap is super fast, I think Changelly is the service they use for token swaps. I’ve done several by now and the process is fairly quick and straightforward. I do this when I don’t have the patience to send the tokens to an exchange to do more complex trading. For just quick swaps, I do it right here in the app.

And also, the ring is compatible with any NFC-enabled iOS or Android device, there’s no need for cables or batteries; just your phone and the ring. That’s it. Can’t get any simpler than that.

Also, you get a 10% discount with my invite link: https://bit.ly/shop-tangem

So, to recap, what do I like about this device and what I feel needs some improvement:

PROS:

Okay, let’s summarize the pros and cons about this product.

First, what I like about it:

The Ring offers several unique features like the fact that it’s a ring to begin with… It’s the first device of this kind to use a ring format. This makes it the most portable, miniature, lightweight and inconspicuous hardware wallet on the market.

It provides protection against electromagnetic pulse (EMP), electrostatic discharge (ESD), and X-rays—making it ideal even during airport security checks

You can import or generate seed phrases ranging from 12-word to 24-word combinations, ensuring flexibility in setting up your wallet securely.

Since firmware updates aren’t necessary due to non-upgradable firmware design, you only need to update your phone app when new features or network support become available.

It allows DeFi operations like token swaps, staking, yield farming and more.

Of course, security is a must and with the latest Secure Element version, this device meets my criteria.

No batteries, no cables, no complicated setups make it ideal for both newcomers and OGs like me.

CONS:

Now, onto the negatives. 
Erm… there aren’t any.

Okay, if I have to think of something to critique, it’s that due to not having a screen, I can’t import a seed phrase directly on the device itself, but I have to do that via the mobile app. This isn’t ideal, because it means I will expose my seed phrase to my phone and if my phone is compromised, it can be a problem. This is why I will not import a seed here, I will just use it seedless. If there’s anything I would like to see improved, it would be the price. I know, at 160 bucks, it’s not the cheapest product on the market, but to be fair, for its category, it’s a fair price and you can get it with a discount if you use my invite link in the description below. You can save 16 dollars, so grab the link and while you’re at it, download my free eBook with all the best crypto wallets today. It’s a complete guide into wallets, from hot to cold wallets, non-custodial and custodial, I will go through everything you need to know about wallets and how to choose the right one for you. You can scan this QR code or just download it from the link in the description below. I give you detailed reviews of the top hardware wallets and I’ve tried all of them by now, so it can be a great guide for you to choose the right device.

All in all, the Tangem Ring stands out among other hardware wallets primarily because of its compact wearable form factor combined with robust security measures.

While traditional card-style wallets offer some level of convenience, they often lack durability compared to the ring’s zirconia ceramic construction. Additionally, having multiple cards increases complexity; hence, using just two backup cards linked directly to each wallet simplifies management significantly.

But none of these are big drawbacks really. Especially for someone who is new to crypto, this will be ideal as it has less things to confuse you or complicate the user experience. Definitely a good thing in this regard.

To get this device with extra 10% discount, use this invite link: https://bit.ly/shop-tangem

Superiority over Competitors:

Compared to competitors like Ledger, while both offer high levels of security, the tangibility (literally wearing it around) makes regular interactions more natural and secure without additional risks associated with screens or batteries found in competing products. Its EAL 6+ certified secure element puts it in the lead right now since most of its competitors are using a previous version of this chip, mostly EAL 5+ (with the exception of Keystone and OneKey). I’m pretty sure we will see other brands copying the idea of the ring format, so maybe next year I will be reviewing another similar device, but for the moment, this is unique and a frontrunner in this category.

I must say that I am a big fan of the credit card format too. I use my Tangem cards, my Cool Wallet Pro card and to some extent my SecuX card too, but SecuX and CoolWallet Pro need this extra device to charge them because they have screens to power, which means they’re not as portable as Tangem. Also, the use of a screen creates an extra point of failure in the future. The screen can get damaged, it can malfunction, like it already happened to me – it just messes up the digits, so I couldn’t see what I’m typing. These are all things that matter for the long run, because with daily wear and tear, you can expect in a few years that this can be a problem. So, yet again, the simplicity of this, the fact that it doesn’t need a battery, not a screen, make it last longer and its material make it even more durable and resilient for the long run.

In Conclusion:

The Tangem Ring is a significant innovation in the crypto storage sector. Its unique blend of style and functionality ensures that managing cryptocurrencies becomes easier than ever before. It offers unparalleled security through advanced chip technology coupled with innovative smart backup systems, and gives me a peace of mind knowing my assets are protected at all times.

For those looking into purchasing this product, it’s currently priced at $160 for a pack including two backup cards – this is in the price range of other similar category products like Cool Wallet Pro and SecuX Shield Bio – but with my discount code it’s cheaper than either of them. You are looking at 144 bucks with my discount. Not bad at all.

It’s available for pre-order but expected to be officially released soon after its rigorous testing phases complete. And as for its value proposition: The ring offers unmatched portability along with top-tier security making it ideal not just for tech-savvy individuals but also mainstream investors who need reliable cold storage.

Overall, if you’re considering upgrading your crypto storage solution or simply want something stylish yet highly functional—you might like this piece of jewelry designed specifically for safeguarding your crypto! 

You’re literally wearing your crypto vault. It blends into your daily life more naturally than any other crypto device, so it’s ideal for day-to-day, quick crypto interactions. It’s the only crypto wallet that doubles as a stylish accessory, making it appealing to a broader audience and particularly for those like me, who often misplace your wallets and cards.

So, there you have it. This is my honest review, I covered everything that’s important, if I missed anything, do let me know. Leave a comment below. Or if you have any questions, feel free to ask. 

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You can also download my eBook guide to all major crypto wallets – hot and cold, I talk about the differences between these, which ones I recommend from my personal experience and I go through all of the top hardware wallets there, so you can make the right choice which is the wallet for you. It’s a free eBook, just get it from this link.

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☝These are my opinions, not financial advice, always DYOR.

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⚠️ DISCLAIMER ⚠️

The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this post reflects solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.