The idea of having a non-custodial wallet has become more appealing with the increasing need for transparency, decentralization, and accountability in crypto. Non-custodial wallets became especially expedient as people want to exercise complete control over their funds to avoid unauthorized access to assets by third parties.
If you’re looking to own a super non-custodial wallet, then Tangem is your go-to solution. With Tangem Wallet, it is your key, your crypto. You have zero worries over third-party interference. Tangem Wallet lets users store their crypto assets securely and accessible while backing up their private keys in a portable good-to-go card.
What Makes Tangem Wallet Unique?
In all non-custodial wallets, the user reserves exclusive authority over their private key. However, one must be careful when generating and storing the private key to avoid being extracted or copied by another. But Tangem’s wallet security is top-notch.
Tangem Wallet comes with an EAL6 + (Evaluation Assurance Level 6, the highest level of security acquired by a mobile component) certification. It has a Secure Core non-breakable microchip from Samsung that ensures the security of your private key. The private key is generated and stored within the chip rendering it unextractable and the only way for the wallet owner to execute transactions is by having the NFC-enabled card in proximity with the mobile phone’s NFC reader.
The wallet developers were thoughtful enough to equip it with an access code plus security delay features to ensure your assets are safe and secure. Also, it uses 3DES, AES, RSA, and ECC cryptography. Tangem’s security is top-notch since Kudelski Security, a renowned cybersecurity solutions firm, handles its audit.
Key Features of Tangem Wallet
Tangem supports backup to one or two cards
One thing that discourages people from using non-custodial wallets is the issue of backup. Once you lose your private key, you lose your fund since there is no backup. But Tangem developers thought hard about this and presented a solution. Tangem Wallet allows you to store the wallet’s private keys on up to three external cards for safekeeping. In case one of the cards is lost, you can use the other one to gain access to the assets.
Image Source: Tangem.com
Multi-currency wallet:
Tangem Wallet supports over 6000 cryptocurrencies, allowing you to manage your favorite crypto across 27 blockchains with access to over 100 decentralized exchanges, DeFi protocols, NFT marketplaces, 100+ decentralized applications, and more through WalletConnect.
The best thing is that you can access these offline with a Tangem card. The wallet integrates multiple crypto services for seamless and fast trading and exchange of coins.
In-app DEX aggregator:
Tangem Wallet is seamlessly integrated with 1inch DEX, which allows you to execute instant swap and/or purchase of supported tokens from within the application.
Access code reset For Reliable Backup:
Tangem allows you to reset your access code with the second card to protect your funds if you forget or misplace the first one. Cards linked to the Tangem wallet are protected with independent and encrypted passwords. So, when you forget your card password, you can easily reset it with another linked card and unlock it with biometric authentication.
Lower risk of hardware wallet hack:
Tangem mobile app is reliable for entering and verifying transaction amounts and destinations. The single chip provides direct end-to-end attestation, which protects the card against counterfeiting, ensuring that users always interact with a genuine Tangem Wallet. End-to-end attestation is a valuable safeguard, especially at times when the markets are flooded with several counterfeit hardware wallets resembling some of the reputed brands in the industry.
It is easy to use:
You don’t need to charge it, connect to a computer, or enter complex codes, and no need to write down seed phrases. You can perform all operations on an NFC-enabled smartphone.
Initially, wallet access authorization required you to tap your card on the smartphone without biometric authentication. However, as Tangem continues to improve, it introduced an easy biometric authentication. Just place your finger on the fingerprint scanner or look into the camera for a Face ID.
- Tangem Wallet supports Schnorr and BLS signatures for Bitcoin Taproot and is compatible with Ethereum 2.0.
- It works on the BIP-44 Wallet protocol for improved privacy.
- Open-source SDKs for both Android and IOS users.
Quick and Easy Setup
Setting Up Tangem Wallet is easy, and once it is set up you can use it just like any other wallet.
Download and install Tangem Wallet mobile application from Google Play or Apple App Store. Once the app is installed, you can open the app and start following the detailed step-by-step instructions to set up the wallet.
In case you don’t have the NFC-enabled multicurrency hardware wallet handy, the app also lets you order one.
Once the wallet is setup, you can create a maximum of two backups of the private keys for safekeeping, to be used in case the primary card containing the private key is lost or damaged.
How Long Has Tangem Been On The Market?
Tangem has been making waves in the crypto market since 2018, beginning with the launch of the first-of-its-kind electronic crypto banknotes. Each of these single-currency digital banknotes could support denominations anywhere between 0.01 BTC to 0.05 BTC, which was later expanded to support other crypto assets as well. Tangem started rolling out its new generation Tangem Wallet, crypto wallets, and Tangem Note single-currency electronic banknotes in December 2021. So, the firm has been in business for over a year without any complaints from users regarding the security of its services.
Bottom Line
Tangem is one of the most secure and highly advanced non-custodial wallets. It is safe and convenient to use while securely managing your crypto assets with the Tangem wallet. With its IOS and Android-supported mobile wallet application, users can now enjoy easy biometric authentication, a safer method of accessing their coin balances, and completing transactions to ensure funds reach the right destination.
Buy your own Tangem Wallet here
Image Source: Apple App Store