This special edition AMA is all about unveiling the Tangem Ring, the world's first wearable hardware crypto wallet. It was hosted by two outstanding Tangem team members: Ana, our Community Lead, and Darya, our Chief Commercial Officer, who's been deeply involved in this project since its inception.
Introduction
Ana: Hello everyone! I'd like to introduce Darya, our Chief Commercial Officer at Tangem. Would you like to say hello and share a bit about your role?
Darya: Thank you, Ana. Hello everyone! I'm Darya, and as Ana mentioned, I'm the Chief Commercial Officer at Tangem, overseeing our sales and marketing teams. It's an honor to be here today to present our latest innovation, the Tangem Ring. This product will set new standards in the crypto industry, and I'm thrilled to share all the exciting details with you.
The inspiration behind Tangem Ring
Thank you, Darya. We're all eager to learn more about the Tangem Ring. Could you tell us what inspired Tangem to create this groundbreaking product?
Currently, about 7% of the global population owns digital assets. In the US alone, 40% of adults hold crypto assets — a 33% increase from last year. While crypto adoption is proliferating, security remains a significant concern. Shockingly, in just the first quarter of 2024, users lost $1.4 billion due to security breaches.
Despite the availability of highly secure hardware wallets, only 2-4% of crypto users use them. We saw this as both a challenge and an opportunity. Why aren't more people using hardware wallets? Existing solutions may be too complicated or focus too heavily on security at the expense of user experience and convenience.
That's where Tangem comes in. We've always aimed to combine security, simplicity, and convenience. Our card-shaped Tangem Wallet, introduced in late 2021, was a step in this direction. It's easy to use, requires no cables or batteries, and can be carried in your pocket, ready to sign transactions 24/7.
The success of our card wallet — with 1.6 million produced and zero security incidents — encouraged us to push boundaries further. We wanted to create a hardware wallet that users could wear daily, making crypto management a seamless part of their routine. Your crypto is always with you, whether at a bar, driving, hiking, or the gym. That's how the concept of 'wearing your crypto' was born, leading to the creation of the Tangem Ring.
The story behind the Tangem Ring
Developing the Tangem Ring was a long and exciting journey. We started working on it a year ago and faced several hurdles.
One of our biggest challenges was finding the suitable material. We needed something that could meet Tangem's high standards. Remember, we offer an industry-leading 25-year replacement warranty on our cards, and we wanted to maintain this level of quality with the ring.
Another crucial aspect was ensuring the ring was monolithic for maximum reliability. However, the most significant challenge was fitting an NFC antenna and our secure element — the Tangem chip — into such a small casing while preserving its radio-electronic properties.
After extensive research and development, we chose high-purity, hypoallergenic zirconia ceramic for the ring. This material gives the ring a sleek appearance and makes it incredibly resilient. It's waterproof, resistant to scratches and extreme conditions, and can withstand high temperatures. And yes, we're also maintaining our 25-year replacement warranty for the ring.
What's in the box?
We've redesigned our packaging for the Tangem Ring, and it's stunning. I can't wait to see all the unboxing videos when people receive their rings!
Inside the Tangem box, you'll find two cards and one ring. We're offering six sizes, from 8 to 13 US sizes, so you must choose carefully. This first drop is limited to 10,000 rings across these six sizes.
Why include two cards with the ring? This is part of our unique approach to cold wallet security. Instead of relying on a seed phrase, we've introduced a model where the private key is securely cloned on the ring and the two backup cards. If you lose your ring, your assets are safe, as two other devices have the same key.
It's important to note that this is our first venture into wearable tech, and we're keen to learn from this initial release. Based on community feedback, we're already exploring new colors and designs for future batches. So please send us your ideas and suggestions; we'd love to hear them!
Setting up your Tangem Ring
Let's walk through the setup process for the Tangem Ring. It's remarkably straightforward, and I'm excited to show you how it works.
First, I'll demonstrate with my own ring. A key feature to note is that you can't scan the ring while it's on your finger. This is a brilliant security measure for those worried about someone potentially scanning their ring without permission. You need to take it off to use it.
Once you've removed the ring, open the Tangem app on your smartphone. The app interface is clean and intuitive, guiding you through each step. Press the 'Scan’ button and place the ring near your phone's NFC sensor. Within seconds, it's scanned and ready to go.
The next step is to add your backup cards. Remember, these come in the package with your ring. You can add up to two backup cards, which are crucial to our security system. Finally, you'll set an access code, and that's it! You're all set to start using your Tangem Ring.
The whole process takes about two to three minutes. We've timed it ourselves to ensure it's as quick and painless as possible. This simplicity makes Tangem accessible to crypto newcomers and seasoned enthusiasts.
Security features of Tangem
At the heart of our security is our certified hardware. We use EAL6+ CC-certified secure elements designed in collaboration with Samsung Semiconductors. This certification is the highest level of security available for consumer devices. This means that our chip is protected against both invasive and non-invasive attacks. If someone finds your ring or card, they can't hack it or extract your assets without knowing your access code.
Two renowned companies—Kudelski Security from Switzerland and Riscure from the Netherlands—independently audited our firmware. These audits confirmed that our firmware has no backdoors or vulnerabilities. Once installed, it can't be updated, ensuring its integrity.
We're also big believers in transparency. That's why our Tangem app software is fully open-source. You can find it on GitHub and audit it yourself if you're so inclined.
Another crucial security feature is our anti-counterfeit protection. When you activate your wallet, the app verifies that Tangem indeed produced the secure element. This prevents any potential use of counterfeit devices.
Let's talk about private keys. They're generated inside the wallet chip during activation using a hardware-certified true random number generator. Nobody, not even Tangem, has access to these keys, which exist only within your devices.
Our smart backup system is unique, too. Instead of relying on a single device, you have three hardware wallets (your ring and two cards) where all your key copies have the same security level. This means your keys exist only in these three devices, in space and time, with no other copies.
Lastly, let's not forget about our devices' physical durability. The Tangem Ring is made from zirconia ceramic, which is incredibly resilient. It's rated IP68, meaning it's highly resistant to scratches, dust, water, and extreme temperatures from -25°C to 50°C. We've even conducted deep-dive tests, submerging our devices to depths of six kilometers!
All these features combine to create a secure, user-friendly system that we're incredibly proud of. It's simple, safe, and secure — perfect for anyone looking to manage their crypto assets with peace of mind.
Ensuring user-friendliness of the Tangem Ring
Regarding the Tangem Ring, we've put a lot of effort into making it as user-friendly as possible. The user experience is a critical part of our hardware wallet design, and we've taken several steps to ensure it's accessible to everyone.
First and foremost, our Tangem app is designed to be incredibly intuitive. It guides you through every step, from activation to daily usage. We've worked hard to make it one of the most user-friendly apps in the crypto space.
The ring itself embodies our 'tap and go' functionality. It's always ready, always with you — right there on your finger. You simply take it off and tap it on your phone when you need to use it. It's that easy.
We're constantly working on adding new features to enhance user experience. For instance, we recently introduced Tangem Express, an aggregator for different swap providers. I'm excited to share that we're adding a new provider next week, on August 6. We've also got two more swap providers in the pipeline — Rango and Tor Chain. We're also working on adding more on-ramp and off-ramp services to Tangem Express.
Language support is another area where we're making strides. On August 12, we're launching the Tangem app in four new languages: German, French, Japanese, and Ukrainian. Spanish support and a dedicated Spanish-speaking Telegram channel for our community will be available later in August.
We're also big believers in community feedback. That's why we've created the Tangem Club, where users can get early access to app builds and provide direct feedback to our development team. It's our way of co-creating with our users, ensuring we always meet their needs.
Lastly, I want to mention our commitment to education. We have various resources available, including detailed guides and YouTube tutorials, to help users understand how to use the Tangem Ring effectively. For instance, we have a guide on measuring your ring size correctly, which is crucial for a comfortable fit.
All these steps combined make the Tangem Ring not just a secure crypto wallet but also a user-friendly one. We're constantly listening to our community and working on improvements to make your experience with Tangem as smooth and enjoyable as possible.
Security and practicality of wearable crypto storage
First, the Tangem Ring, like our cards, is protected by a user-specific access code. This isn't just any ordinary password; it's a robust defense against unauthorized access. Even if someone were to get their hands on your ring, they'd still need the correct access code to use your wallet. It's like having an invisible, unbreakable safe wrapped around your finger.
Here's a neat feature: Within the app, you can assign different access codes for each Tangem card or ring. This adds an extra layer of security and flexibility to your setup.
But the risk of losing a ring is probably higher than misplacing a card tucked away in your wallet. That's where our backup system shines. When you get your Tangem Ring, it comes with two backup cards. These aren't just any cards; they're identical in functionality to your ring. So, if you misplace your ring (we've all been there with keys and socks), you're not left high and dry. Your assets remain safe and accessible through the backup cards.
This triple-device system is one of the things that makes our approach unique. It's not just about having a cool gadget on your finger; it's about having a comprehensive, secure system for managing your digital assets.
Now, let's address the elephant's cousin — the visibility of wearing your crypto storage. The beauty of the Tangem Ring is its discretion. To the casual observer, it looks like any other stylish ring. There are no flashing lights or crypto logos giving the game away. It's just a sleek, modern accessory that happens to be safeguarding your digital wealth.
The Tangem Ring vs other wearable storage
Now, you might be wondering, "Why a ring? Why not just put a device on a necklace?" It's a fair question, and the answer is convenience and design.
The ring form factor is brilliant in its simplicity. It's on your finger, a natural part of your daily wear. A ring just exists, unlike a necklace that might get tangled or caught on clothing or a bracelet that could interfere with typing or writing. It's concealed, always accessible, yet out of the way.
But the form factor is just the beginning. The Tangem Ring inherits all the unique features that set Tangem products apart in the hardware wallet market. For instance, we offer a 25-year replacement warranty. This isn't just a marketing gimmick; it's based on the minimum chip lifetime. We're that confident in our product's durability.
Speaking of durability, the ring is a monolithic device. This means maximum resistance to dust, water, and extreme temperatures. We've tested it in conditions ranging from -25°C to 50°C. Whether skiing in the Alps or sunbathing in the Sahara, your Tangem Ring has got you covered.
Another key feature is the simplicity of its internals. The ring contains only an NFC antenna and our secure element chip. No batteries, no moving parts — nothing that could wear out or break down over time. This simplicity isn't just about longevity; it also means fewer potential attack vectors for would-be hackers.
The Tangem Ring isn't just different because it's a ring. It's different because it's a Tangem product, bringing with it all the security, durability, and innovation that our brand stands for. It's not just about wearing your crypto; it's about confidently wearing it.
Future variants of the Tangem Ring
At present, we're exploring various possibilities for ring production. Color variations are high on our list. Perhaps you'd like to see the Tangem Ring in white, green, or blue? We want to focus on the colors you, our users, really want. So don't be shy; let us know your preferences!
Our current release is quite limited. This first batch has only 10,000 rings available. This exclusivity allows us to gather feedback and refine our product before scaling up production.
While we're excited about potential variations, we don't have plans to launch anything different this year. We're entering Q4 soon, and our next batch will likely be available in early 2025. This gives us ample time to collect and act on your feedback.
But variants aren't just about colors. We're also exploring collaborations with designers, artists, and even fashion industry brands. Imagine limited-edition collections of Tangem Rings designed by your favorite jewelry or fashion brand. We're also looking into other wearable forms—bracelets, pendants, even earrings. The possibilities are fascinating!
If you're a creative designer yourself, we'd love to hear from you. We're always open to collaborations that could bring fresh perspectives to our products.
Our upcoming' stealth wallet' cards are a great example of how community feedback shapes our products. This idea came directly from our users, who wanted cards without logos — just plain, discreet cards. We listened and and researched, and now these cards are in production.
Remember, it often starts with just one person, one idea. A couple of smile reactions in our community channels can snowball into a poll, and before you know it, we're developing a new product variant.
So, while I can't give you a definitive list of future variants today, I can promise you this: you, our community, will shape the future of the Tangem Ring. Keep those ideas coming; we're listening!
Is the ring durable?
Finding the suitable material was one of our biggest challenges in developing the Tangem Ring. We needed something that could meet our high standards for durability and comfort. After extensive research, we settled on high-purity zirconia ceramic.
This material is seriously tough. It's highly scratch-resistant, so you won't need to worry about scuffing it during your daily activities. We've rigorously tested it to ensure it can withstand the wear and tear of everyday use.
But durability isn't just about avoiding scratches. The Tangem Ring is fully waterproof, with an IP68 rating. This means it's resistant to dust, water, and extreme temperatures ranging from -25°C to 50°C. Whether you're washing dishes, swimming, or braving extreme weather, your Tangem Ring can handle it.
We've also considered your comfort. The ring is designed with hypoallergenic properties, so it won't cause skin irritation. You can wear it all day, every day, without worry.
Our goal wasn't to create a device you'd use for a few months or even a year. We want the Tangem Ring to be a long-term solution for managing your digital assets. We offer a 25-year warranty based on the minimum chip lifetime. Yes, you read that suitable — 25 years!
One of the keys to this longevity is the ring's simplicity. There are no cables, no batteries, and no moving parts. It's just you, the ring, and the chip inside it. Your phone acts as the device's screen, meaning the ring itself can remain simple and durable.
Are there any limitations to the Tangem Ring?
First, there are no storage limitations. You can hold as many assets as you like on your Tangem Ring. There are also no geographical restrictions — you can use it anywhere.
We take your privacy seriously. Tangem doesn't provide KYC services or have servers that collect user data. All your crypto operations go directly to public blockchain nodes. We don't collect IP addresses, balances, transactions, or personal data.
As for asset compatibility, the Tangem Ring natively supports all the assets our app supports. But it doesn't stop there; you can also add custom tokens to our support networks. We're constantly expanding our roadmap to include more assets and entire blockchains.
How do I measure my ring size?
We offer sizes from 8 to 13 US, but it's important to note that international sizing standards can vary.
To help you choose the right size, we've created a detailed PDF guide and a YouTube video tutorial. These resources explain different methods for measuring your ring size at home. You can find these on our checkout page when purchasing the ring.
We recommend visiting a local jewelry store for professional sizing if you're unsure. It's essential to get this right, as we can't offer refunds or exchanges if you choose the wrong size.
Remember, ring size can vary depending on the finger you plan to wear it on. It can also fluctuate slightly throughout the day due to temperature and hydration. We suggest measuring at different times of day for the most accurate result.
If you end up with a slightly too big ring, don't worry! Many of our users have found creative solutions, like wearing the ring as a pendant on a necklace. It's a stylish alternative that still keeps your digital assets close at hand.
Live Q&A Session
As we wrapped up our presentation, we opened the floor to live questions from our community. The enthusiasm was palpable, and we received a flurry of exciting queries.
Q: Will there be different colors?
One of the most frequent questions was about future color options for the Tangem Ring. While our initial release is in sleek black, we're exploring other colors for future iterations. We're particularly interested in what you, our community, want to see. White has been a popular suggestion in our initial research, but we're open to all ideas. Please let us know in our community channels if you have a color preference. Your input directly shapes our product development!
Q: Can I go through Airports with the Ring?
An interesting question came up about airport security: "Can I go through airport control without setting off alarms?" As frequent travelers, we can confidently say that the Tangem Ring doesn't trigger airport security alarms. It's designed to be discreet and travel-friendly. Many of us have traveled with multiple Tangem Wallets without any issues. So you can wear your ring confidently as you jet around the globe.
Q: Can I remove the chip by myself to make it custom?
We received an intriguing question from a card designer about removing the chip to create a custom card. While we appreciate the creative spirit, we strongly advise against this. Tampering with the device could compromise its security and functionality. However, if you're a designer interested in creating custom Tangem products, we'd love to hear from you! We're always open to collaborations that could lead to exciting new designs.
Speaking of customization, our team is working hard on an online customization tool. Soon, you can add icons, your name, flags, or even specific token designs to your Tangem card. We aim to launch this feature either later this year or early 2025.
Q: What do you think about mainstream adoption?
A comment that resonated with us was about the Tangem Ring being "a step in the right direction for mainstream crypto adoption." This aligns perfectly with our mission. When we look at the statistics and see that only 2% of crypto users are using hardware wallets, we know there's a massive opportunity for growth.
Our goal is to make hardware wallets more accessible and user-friendly without compromising security. The Tangem Ring, like our card wallets, is designed to be intuitive and convenient. This approach is critical to bringing more people into crypto and encouraging safer storage practices.
Q: Can I connect the Ring to non-Tangem wallets?
We were asked if the Tangem Ring can connect to non-Tangem wallets. The short answer is no, and this is by design. While you can import an existing seed phrase into our ecosystem, we don't allow direct connections to other wallet systems, as this could pose security risks. However, you can connect to dApps through WalletConnect, maintaining the security of your assets while interacting with the broader crypto ecosystem.
Q: Can I buy the Ring separately?
A common question was whether the Tangem Ring could be purchased separately from the cards. The short answer is no, and there's a good reason for this. The Tangem Ring comes as a set with two backup cards, which is crucial for our security model.
You have to do your backup. The app won't let you continue without at least one backup unit. This approach ensures that if you lose your ring, you'll still have access to your assets. It's a fundamental part of our strategy to provide security and peace of mind.
We offer two sets for our Tangem cards: a three-card set and a two-card set. The ring follows a similar principle, coming with two backup cards. This multi-device system sets us apart and provides an extra layer of protection for your digital assets.
Q: Will there be a POS functionality (pay with tap) in the future?
We received an interesting question about the potential for integrating Tangem Pay capabilities with the ring. While our Tangem Pay card (which allows you to use crypto at Visa terminals) is currently a separate product, we're exploring future possibilities for the ring.
Yes, it will be possible in the next batches. But it's not going to be in 2024. We're most likely talking about 2025. It's exciting to think about the potential of tapping your ring to make payments, but we want to ensure we get it right before rolling out such a feature.
Q: How can I check for authenticity?
A crucial question came up about how users can verify the authenticity of their Tangem Ring upon receipt. This is where our anti-counterfeit protection comes into play.
When you start tapping cards or the ring to your phone, the Tangem app attests to the chip inside and proves that it's authentic and was produced by Tangem. This verification process is built into our app, providing a seamless confirmation of your device's authenticity.
While we've made some changes to our packaging (some might remember that we no longer use the blue seals), the app remains the critical feature for checking authenticity. If there's any issue with your device, the Tangem app will alert you immediately.
Q: Are you planning chip implants in the future?
As we wrapped up, we touched on some exciting developments. We're working on a new format for our roadmap updates to make it more intuitive based on community feedback. Keep an eye out for this in the coming days as we enter August.
We also hinted at potential future innovations. While we're not currently planning any subdermal implants (a fun question from the community!), we're always open to exploring new ideas based on user interest. It's a testament to how closely we listen to our community's suggestions and feedback.
Final Comments
As the AMA drew close, Daria said, "Thank you so much for having me again here in this live stream. I enjoyed it a lot, and thank you guys for all your lovely comments. Appreciate it and wear your crypto to enjoy the Tangem Ring!"
We're thrilled about the enthusiasm for the Tangem Ring and can't wait for you to experience it. Remember, shipping starts at the end of October, so stay tuned for delivery details.
Follow us on Discord to stay updated on all things Tangem, including the winners of our Tangem Ring giveaway. We have a 24/7 moderation team across various platforms, including Telegram, Reddit, and Twitter, ready to answer any questions. We even have an AI bot named Tangemo on our Telegram channel that responds immediately to common queries.
Thank you all for your engagement and support. Here's to the future of wearable crypto technology!