Introduction
If you are looking for a simple and secure way to store your crypto assets, you might want to check out tangem cold storage, a device that looks like a bank card but acts like a hardware wallet. Tangem cold storage is a device that keeps your private keys offline, away from hackers and malware. It also has a smart design and features that make it stand out from other cold storage options.
What is Tangem?
What is tangem cold storage?
Tangem cold storage is a device that looks like a bank card with a chip and a QR code. It is designed to store and manage your crypto assets securely and privately. Tangem cold storage supports over 600 cryptocurrencies and tokens, including Bitcoin, Ethereum, Litecoin, Dogecoin, and many more. It also supports ERC-20 tokens, NFTs, and decentralized applications (dApps).
Tangem cold storage has several advantages over other cold storage devices, such as:
– Simplicity: Tangem cold storage is very easy to use. You just need to tap the card to your phone and install the tangem app to activate your wallet. You can also use the app or the web interface to buy, sell, transfer, and swap your crypto assets. No wires, Bluetooth, USB, or batteries required.
– Security: Tangem cold storage stores your private keys in an encrypted chip that is immune to malware or viruses. It also requires you to scan the QR code on the card to authorize each transaction. This makes it harder for hackers to access your funds without your knowledge.
– Backup and recovery: Tangem cold storage allows you to create multiple backups of your private keys using different methods, such as QR codes, microSD cards, or paper wallets. You can also use a recovery seed phrase or a Shamir backup scheme to restore your wallet in case of loss or damage.
– Customization and personalization: Tangem cold storage allows you to customize your card according to your preferences and needs. You can choose from different colors, skins, and stickers to personalize your card. You can also adjust the sound, brightness, and language settings. Tangem cold storage also supports firmware updates and new features.
How to Use Tangem
Using tangem cold storage is simple and straightforward. Here are the basic steps to set up and use your card:
- Step 1: Tap your card to your phone and follow the instructions on the screen to create a PIN code and a recovery seed phrase. You can also choose to enable the remote wipe feature, which allows you to erase your card in case of theft or loss.
- Step 2: Choose the cryptocurrencies you want to store on your card and transfer them from your existing wallet or exchange account. You can also buy or sell crypto using the app or the web interface.
- Step 3: To send or receive crypto, use the app or the web interface to create a transaction and scan the QR code on the card to confirm it. You can also use the card to enter the amount and the address manually.
Risks and Challenges of Tangem
Tangem cold storage is a simple and secure cold storage device, but it also has some risks and challenges that you should be aware of, such as:
- Cost: Tangem cold storage is not a cheap device
It’s a pack of two $55 or pack of 3 cards for $69.However, it also offers more features and functionality than most of them.
- Availability: Tangem cold storage is not widely available yet. It is currently sold only on the official website and some selected retailers. You might have to wait for a while to get your card or pay extra for shipping and customs fees.
- Compatibility: Tangem cold storage is compatible with most cryptocurrencies, but not all of them. Some coins or tokens might not be supported by the card or the app. You should check the compatibility list before buying or transferring any crypto to your card.
- Responsibility: Tangem cold storage gives you full control and ownership over your crypto assets, but it also means that you are responsible for keeping them safe and secure. You should always backup your private keys and your recovery seed phrase and store them in a safe place. You should also never share your PIN code or your recovery seed phrase with anyone. If you lose or damage your card or forget your PIN code or your recovery seed phrase, you might lose access to your funds permanently.
Conclusion
Tangem cold storage is a cold storage device that offers a simple and secure solution for storing and managing your crypto assets. It has a smart design and features that make it stand out from other cold storage options. It supports over 600 cryptocurrencies and tokens, including Bitcoin, Ethereum, Litecoin, Dogecoin, and many more. It also supports ERC-20 tokens, NFTs, and dApps. It has a simplicity level, a security level, a backup and recovery system, and a customization and personalization system. However, it also has some risks and challenges, such as the cost, the availability, the compatibility, and the responsibility. You should weigh the pros and cons of using tangem cold storage before buying or transferring any crypto to your card.
