Smart rings have just got a new functionality – Tangem presented the first hardware crypto wallet in a form of a ring.
Tangem, a tech company focused on blockchain hardware, has introduced Tangem Ring, the world’s first ring-shaped hardware crypto wallet.
Tangem Ring is a wearable ‘cold’ self-custody wallet which has all the functions of the firm’s other product – Tangem Wallet 2.0 cards. The ring can be used to send, receive, buy, or swap over 6,000 digital tokens. However, unlike the wallet cards, the new wearable is more compact and durable. It is waterproof and dustproof and can be taken anywhere with you, 24/7.
Besides, the ring enables authorization of crypto transactions with a simple tap on the go. As Tangem explains, “It blends into your daily life more naturally than any other crypto device, encouraging regular and secure crypto interactions.”
The product, now available for pre-ordering, was first unveiled at the Cardano Summit in November 2023. Since then, the ring design has been modified and the wallet has been continuously tested.
The ultimate version is made of Zirconia ceramic and is equipped with an NFC (Near Field Communication) antenna, to connect with compatible smartphones. In addition, the Tangem Ring doesn’t have a battery. It’s powered by NFC instead, when in proximity to your phone. Therefore, this crypto storage and payment device never needs charging.
According to the firm, the ring also has an EAL6+ CC-certified secure element to protect against invasive and non-invasive attacks. Another measure of security protection is a randomly generated private key stored on the ring and two Tangem backup cards linked to a single wallet. You can also create a backup between the rings if you buy two or more sets. Besides, the device’s firmware cannot be upgraded, which reduces the risk of remote hacks.
The unique feature of the new ring-shaped wallet is that it combines self-custody with daily transactions. Its creators believe such multifunctionality can boost the crypto technology adoption, making it mainstream.
At the moment, customers can pre-order the ring in various sizes, from 8 to 12 US, at the Tangem website. The first product deliveries are expected at the end of October.
