Hardware wallet manufacturer Tangem has launched a non-custodial cryptocurrency wallet in the form of the Tangem Ring.
Wear your crypto with the Tangem Ring. Available for pre-order. The future is now!https://t.co/vjDwXQdTQN pic.twitter.com/JklexDaoMb
— Tangem (@Tangem) July 17, 2024
The gadget is available for pre-order at $160, with deliveries starting at the end of October. It supports Bitcoin, Ethereum, and other cryptocurrencies, featuring a waterproof, scratch-resistant, and extreme temperature-resistant casing, according to the website.
The wallet connects to a smartphone via NFC. Activation requires touching the ring using the company’s mobile app, which is also used for signing transactions.
During activation, the chip embedded in the ring generates a private key, which is stored on the device and as copies on two Tangem cards included in the package.
The functionality of the Tangem Ring mirrors that of the Tangem Wallet cards, except for the form factor. In case the new wallet is lost, access to crypto assets can be restored using the cards provided in the package.
The Tangem Ring supports seed phrase import and is compatible with all second-generation cards.
In June, hardware wallet manufacturer Trezor introduced its new flagship, the Safe 5.
In December 2023, Jack Dorsey’s company Block opened pre-orders for the Bitkey hardware Bitcoin wallet.