Tangem Ring: A Wearable Crypto Wallet đź’Ť
Tangem, a hardware wallet company, has released the Tangem Ring, a self-custodial crypto wallet designed in the form of a ring. The ring aims to bring self-custody and hardware wallets closer to everyday life, enabling users to manage their crypto holdings on the go.
Security Concerns
While the Tangem Ring offers a convenient way to manage crypto, some may question its security. Tangem claims the ring has similar security features to its Visa-integrated hardware wallet, including an EAL6+ secure element that is virtually impossible to hack. However, some users might be hesitant to wear such a valuable asset on their finger.
Regulatory Implications
The Tangem Ring is expected to be available in all countries where Tangem Pay operates, including Europe and the UK. However, regulators are increasingly scrutinizing self-custodial options and related payments. The European Parliament recently considered imposing a $1,100 limit on crypto payments from self-custodial wallets but ultimately abandoned the initiative.
The Tangem Ring is currently available for pre-order and will start shipping to customers from the end of October. The company plans to integrate the ring with the Visa payment chip sometime in 2025.
The development of wearable crypto wallets like the Tangem Ring highlights the growing interest in self-custody solutions. As the crypto industry matures, we can expect to see more innovative products and services that cater to the evolving needs of crypto users.
