Parallel wallet
The most secure hardware wallet for your Parallel
Secure your Parallel with Tangem, the wallet of choice for a thriving crypto community.
How to secure your Parallel with Tangem?
When you buy or hold Parallel in Tangem, it secures your private keys in many ways:
- With the seedless setup and smart backups on extra devices, your Bitcoin is safe and accessible only to you.
- Tangem is IP69K water and dustproof, built to protect against extreme temperatures, EMPs, ESCs, and X-RAYS.
- An access code and biometric authentication protect against unauthorized access.
- Private keys are generated and stored on its EAL6+ CC secure element.
How to get a Parallel Crypto Wallet?
Tangem products are for everyone, from beginners to experts. They keep your crypto safe and easy to manage. With cutting-edge technology, Tangem lets you control and protect your digital assets.
Get TangemWhy choose Parallel wallet with Tangem.
Privacy
No registration and KYC required to use the app. We don't track your data.
Security
Your private keys are encrypted and never leave your device. Only you have control over your funds.
Convenient designs
Choose from a variety of elegant designs, including unique co-branded editions and our innovative ring-form factor wallet, ensuring both style and functionality.
24/7 Customer care
Fast support for your needs. Live chat and email support for customers from all over the globe.
What is Parallel (PAR)?
Parallel is a stablecoin introduced by the Mimo Protocol, operating on blockchains like Ethereum, Polygon, and Fantom. It’s unique due to its Euro peg, ensuring that it maintains a stable value. This synthetic asset operates under a decentralized model governed by vMIMO holders, emphasizing its non-custodial and overcollateralized status.
What is a Parallel wallet?
A Parallel wallet aids in the management of your PAR holdings by storing the private keys needed to access your specific accounts. While the wallet doesn’t actually store PAR, it facilitates access to the blockchain where your assets reside. Its main role is to secure these private keys, letting you manage, send, and receive PAR seamlessly.
How does a Parallel wallet work?
Parallel wallets function using pairs of public and private keys that manage your blockchain accounts. Your private key is crucial for accessing a specific account and should remain confidential, while your public key can be shared freely to receive PAR. To withdraw, the private key linked to the public address is needed. Tangem Wallet uses its chip to generate and protect these keys safely.
What are the types of Parallel wallets?
Exchange Parallel Wallets: Centralized platforms like Coinbase, Binance, and Kraken facilitate PAR purchases and storage using custodial wallets. Users must consider potential risks such as restricted access to funds.
Software Parallel Wallets: These types of wallets reside on devices, enabling private key management and PAR transactions. They are user-friendly but may be prone to cyber threats, and can be used across mobile, desktop, or browser platforms.
Mobile Parallel Wallets: Applications designed for smartphones to manage PAR transactions.
Desktop Parallel Wallets: Software installed on personal computers that save private keys on local storage devices.
Hardware Parallel Wallets: Physical devices like Tangem offering offline storage, enhancing protection against digital threats.
How to Choose the Best Parallel Wallet
Selecting an effective wallet depends on your personal preferences, balancing ease of use, dependability, and security needs. For storing substantial PAR amounts securely and mitigating online risks, a hardware wallet such as Tangem is an outstanding choice.
Parallel PAR
Tangem supports other cryptocurrencies
Reliability and convenience at your fingertips. Manage thousands of cryptocurrencies with peace of mind anywhere and anytime
See all supported cryptosParallel FAQ
- For storing and using PAR, Tangem Wallet is a strong choice thanks to its offline key storage and mobile-friendly design.
- Software wallets for Parallel are often free, but hardware wallets usually require a one-time purchase. Sending transactions may involve network fees.
- A strong Parallel wallet uses dedicated hardware to safeguard private keys. Tangem uses a specialized security chip, similar to those found in banking cards and passports, which keeps keys isolated and reduces the risk of unauthorized access or data compromise.
- A Parallel wallet is a tool that lets you store, send, and receive your digital assets. It manages your private keys, which prove ownership of your PAR.
Related articles
