TANGEM WALLET: An Innovative Seedles Cold Wallet Setup

[fillippone]

Meanwhile, Tangem has been shortlisted for the WAIBsummit in its "Most Trusted Wallet Award" category. https://waibsummit.newcampus.com/nominees

I don't know how they make the selection, since the Bitbox is missing. That's weird, isn't it?

Many quality brands are missing from that list. Nothing about that deserves to be called a trusted wallet list. I have never heard of Youhodler but it looks like a crypto tech company. Ledger is on the list and this company hasn't radiated trust the last couple of years. The other two "wallets" are for the OKX and Bitget exchanges. And last but not least there is Tangem.

Maybe those who pay the most get a nomination and stand a chance to win the award.

I guess you are right.
In other industries, there are similar prizes, and the award gets to the person who pays the most the organizer of the prize itself.
You can buy your own prize by buying a few tables at the gala dinner of the award ceremony, in a terrific circular reference.

Sad to see a similar approach in such a critical topic as signing device security.

[dkbit98]

Even Electrum mobile has a weird concept that can be considered as coin control. They allow you to freeze coins and addresses, leaving the one/ones you want to pay from unfrozen. Like I said, a weird way to implement coin control.

That exist on Electrum desktop version also, but I don't see anything wrong with that.
You can always import keys in any other wallet and send those coins, it's not like they are actually locked.

I get your concerns, but one important thing to note: even if Tangem shuts down, the wallet won't become useless. While the app itself isn't fully open source, Tangem has published their SDK on GitHub, so it's possible to build a custom app manually.

Nobody is going to do that.
Even for more popular discontinued wallets nobody ever made fork that actually works and have updates.

First, the Tangem app is open source software. This means that even if the Tangem company were to shut down, the community could audit, fork, and maintain the app independently.

I don't care if app is open source if it is crap, and if it is combioned with closed source firmware junk.
You don't mix pure water and mud expecting it stay clean.

Therefore, if Tangem company were to shut down, the cards would continue to function as intended.

No they won't, and I predict you will see that in near future.
They simply can't compete with open source alternative like Satochip and Keacard.

[satscraper]

I don't care if app is open source if it is crap, and if it is combioned with closed source firmware junk.

Then I may assume that you equally don't care about Visa and Mastercard credit cards because they also rely on proprietary and closed source firmware. Did you ever use bank cards? If yes, then you are inconsistent.

No they won't, and I predict you will see that in near future.
They simply can't compete with open source alternative like Satochip and Keacard.

You probably meant Keycard.

Regarding open source alternatives. I think your should be cautious about saying "can't." For instance, Windows isclosed source OS, yet it has successfully competed with Linux, which is open source. ^{I have a few machines, some running Ubuntu and others running Windows. Capable hands can cope with any OS} .

And after all, I’ve addressed the technical matters, but it seems like you want tp transfer it into belief plane rather than argue substantively.

[Pmalek]

Even Electrum mobile has a weird concept that can be considered as coin control. They allow you to freeze coins and addresses, leaving the one/ones you want to pay from unfrozen. Like I said, a weird way to implement coin control.

That exist on Electrum desktop version also, but I don't see anything wrong with that.

Electrum for desktop has proper coin control, allowing you to pick which coins to spend from and no one ever has to use the freezing option unless they want to. Electrum on mobile doesn't. If I have 10 UTXOs on my mobile Electrum app and I wish to spend from one, I have to freeze the remaining nine. On the desktop version I just spend the one I want to. That's why it's an unusual and weird solution. It's not weird to have a freeze option. It's weird that it's the only way to use coin control.

For instance, Windows is closed source OS, yet it has successfully competed with Linux, which is open source.

That might not be the right way to put it. Despite someone's feelings towards Windows, the reality is that Windows has a much bigger market share than all other OSs combined. So it's not Windows that is competing with others, it's open-source alternatives that are successfully or unsuccessfully competing with Windows when it comes to taking their piece of the pie and userbase.

[satscraper]

For instance, Windows is closed source OS, yet it has successfully competed with Linux, which is open source.

That might not be the right way to put it. Despite someone's feelings towards Windows, the reality is that Windows has a much bigger market share than all other OSs combined. So it's not Windows that is competing with others, it's open-source alternatives that are successfully or unsuccessfully competing with Windows when it comes to taking their piece of the pie and userbase.

Agreed. This is open source Linux that is trying to compete with closed source Windows, rather than the other way around. In general, I find it a bit unreasonable to be completely obsessed with the idea of open source without considering other important factors, just because the fact that software is open source, doesn't automatically make it superior. Open source projects can be just as buggy as closed source ones. For example Linux and Electrum had also their issues.

[Kagaru]

I think those who romanticize open source as something that is always better by default are not wrong, yet, one should remember that it all comes down to how a particular software is built and maintained as well as supported, so that always one might be able to testify to the superiority of open source. open source allows great freedom and this is great bearing in mind that this offers a lot of transparency but this does not always offer the best user experience particularly to the ordinary user who simply wants to everything to work well. Windows took the stage due to its ease and wide host compatibility and accessibility usability not due to its closed source nature. Well, both the models are strong, it is not a matter of one being better automatically.

[satscraper]

Michael Batuev, VP of Global Products at Tangem on 2025 Paris Blockchain WEEK:

Key notes: TangemPay will be launched this year, relevant app will allow users to manage multiple wallets, swaps, buying crypto with fiat, converting crypto to fiat, and more. Visa involved  transactions are authorized via a smart contract that ties to the cardholder’s data.

[fillippone]

Michael Batuev, VP of Global Products at Tangem on 2025 Paris Blockchain WEEK:

Key notes: TangemPay will be launched this year, relevant app will allow users to manage multiple wallets, swaps, buying crypto with fiat, converting crypto to fiat, and more. Visa involved  transactions are authorized via a smart contract that ties to the cardholder’s data.

I can't remember if we already stated that Tangem Pay has nothing to do with Tangem wallet. Completely different products, infrastructure, business line, target customer, and customer needs.
Only similarity: made by Tangem.

[satscraper]

Michael Batuev, VP of Global Products at Tangem on 2025 Paris Blockchain WEEK:

Key notes: TangemPay will be launched this year, relevant app will allow users to manage multiple wallets, swaps, buying crypto with fiat, converting crypto to fiat, and more. Visa involved  transactions are authorized via a smart contract that ties to the cardholder’s data.

I can't remember if we already stated that Tangem Play has nothing to do with Tangem wallet.

Sure, Play has nothing to do with Tangem wallet  

Regarding Pay, Tangem CEO holds the opposite view.

The cards designed for POS payments ^{i.e. utilizing Tangem Pay technique} will generally differ from regular Tangem wallet cards, though they’ll share some basic elements.

As for the mobile app, it seems they’re simply enhancing it to support Visa-eligible cards. I’d expect both types of Tangem cards to use similar key generation and backup methods, despite their different purposes.

[fillippone]

Regarding Pay, Tangem CEO holds the opposite view.

My understanding of the situation, reading the above statement, confirm my toughs: Tangem Wallet is meant to interact directly with your funds and smart contracts.
Tangem pay adds a “Visa Layer” to it, but it will be done via a different card and app.
At least, this is my text comprehension.

[satscraper]

Regarding Pay, Tangem CEO holds the opposite view.

My understanding of the situation, reading the above statement, confirm my toughs: Tangem Wallet is meant to interact directly with your funds and smart contracts.
Tangem pay adds a “Visa Layer” to it, but it will be done via a different card and app.
At least, this is my text comprehension.

You got it right.

The slide in Michael Batuev presentation lists the main features of their app relevant to Tangem Wallet:

• Order card
• User onboarding
• Activate card and wallet
• Backup
• Check balance
• Transaction history
• p2p payments
• User authentication
• Wallet management
• Card management

[Pmalek]

I assume those will be physical VISA cards and not virtual cards. Either way, that surely means KYC, AML checks, SoF inquires, and you name it. I don't buy into the our cards will be self-custodial notion until I see the fine print. They are not going to allow anyone to deposit and pay whatever they want and there will surely be geographical and political restrictions to who can use it.

Not that long ago, the AQUA VISA card was being marketed as the next best thing. Turns out it's very restrictive with many countries banned from using it.

[satscraper]

I have found the latest Tangem's roadmap.

According to what it says users can expect that the long-awaited ^{also by me personally} multiple address support has to be implemented pretty soon. It's stated for some release in Q3 which has already begun. From my point of view such feature as 'Send via Swap' ^{coming in July} will also add points to Tangem.

P.S. The latest release of Tangem mobile app is5.25.0 which was dropped out 4 days ago.

[CamilaStar]

Michael Batuev, VP of Global Products at Tangem on 2025 Paris Blockchain WEEK:

Key notes: TangemPay will be launched this year, relevant app will allow users to manage multiple wallets, swaps, buying crypto with fiat, converting crypto to fiat, and more. Visa involved  transactions are authorized via a smart contract that ties to the cardholder’s data.

I can't remember if we already stated that Tangem Pay has nothing to do with Tangem wallet. Completely different products, infrastructure, business line, target customer, and customer needs.
Only similarity: made by Tangem.

Your actually right.
Tangem pay and tangem wallet are very separate products with their different purposes and audience This tangem wallet is actually a secure self custody solution for holding crypto, while the Tangem pay is mainly on fast, everyday payment.

[babo]

I assume those will be physical VISA cards and not virtual cards. Either way, that surely means KYC, AML checks, SoF inquires, and you name it. I don't buy into the our cards will be self-custodial notion until I see the fine print. They are not going to allow anyone to deposit and pay whatever they want and there will surely be geographical and political restrictions to who can use it.

Not that long ago, the AQUA VISA card was being marketed as the next best thing. Turns out it's very restrictive with many countries banned from using it.

exactly even if it is a very beautiful and very complex system, everything breaks down from that point of view, namely the KYC and AML check
having these becomes quite an exercise in style, since it takes little to be burned

It can have some use cases for sure, but it's not for me.. I tend to reject everything that is KYC now

[satscraper]

exactly even if it is a very beautiful and very complex system, everything breaks down from that point of view, namely the KYC and AML check
having these becomes quite an exercise in style, since it takes little to be burned

It can have some use cases for sure, but it's not for me.. I tend to reject everything that is KYC now

I use crypto cards like Wirex to pay at POS terminals, and I find it very convenient. All these cards need KYC, so using TangemPay cards that connect directly to my Tangem app doesn’t really make a difference for me. That said, people are different and all are free whether to have such option or not. I think TangemPay cards will find their customers.

[Becassine]

With the European travel rule, states want to track and identify BTC addresses, and that doesn't seem to bother the majority of people.

Despite everything, Binance is losing a few customers in Europe due to the numerous and improbable documents that the platform now requires. Tangem Pay will, of course, have an audience that isn't bothered by KYC because the ultimate goal of this audience is solely to make a profit. This audience isn't particularly interested in anything else, I think.

Some CBs linked to platforms have been banned in France because it's not easy to recover the 30% flat tax with people who pay with this type of card. TangemPay will certainly have difficulty establishing itself in France, unless Tangem sends the statements directly to the tax authorities and the tax authorities then inform the taxpayer of the amount to be paid. Some will undoubtedly be in for some surprises.

[fillippone]

I have found the latest Tangem's roadmap.

Just preventing some other user comment: it's 2025q3 and still no coin control.
It's a feature that I would like to be implemented, maybe activating some "expert mode" feature, not to clutter the UI for the beginners.

[dkbit98]

Then I may assume that you equally don't care about Visa and Mastercard credit cards because they also rely on proprietary and closed source firmware. Did you ever use bank cards? If yes, then you are inconsistent.

You are comparing bank cards for money that you don't own, system that is fully centralized, with bitcoin, decentralization and open source.
I don't use card payments much, and I prefer cash as better alternative.
You can't use open source for something that doesn't exist.

For instance, Windows isclosed source OS, yet it has successfully competed with Linux, which is open source.

Dumb comparison because wind0ws is older and it had monopoly for years.
They even forced PC manufacturers to allow only win0S to be installed on their devices.


Now back on topic, and reminder for everyone:
Tangem is closed source garbage so don't use it.

Go Satochip, Go Keycard and Go open source.

[satscraper]

I’d like to highlight one feature of Tangem that I personally find valuable, i.e.commission-free stablecoin swapping. This is made possible through the Changelly platform, which offers competitive market prices for nearly any coin or token you may want to exchange within Tangem. The swapping process is almost instant, making it a seamless experience without any hassle. I highly recommend this wallet for anyone looking for a reliable and convenient solution on the go.


P.S. Don't go to amateur solutions like Keycard.