What's wrong with Tangem wallet?
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- Опубликовано: 12 сен 2024
- The Tangem cold storage hardware wallet is one of the simplest, most interesting options in the space. But, there's something that doesn't quite feel right with this wallet. Let's talk about it!
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Tangem's Broken Seals
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⚠️ Disclaimer: The information provided in this video is for educational and informational purposes only and should not be considered financial or investment advice. Always conduct thorough research and consult with a professional before making any investment decisions related to cryptocurrencies. Safeguard your wallet and follow best practices to protect your digital assets.
I really love the ease of use with the Tangem wallet and the fact that it is the only cold wallet that supports both Kaspa and Chia. But like you, I also have similar reservations. There’s no such thing as the perfect cold wallet which is why I use 3 different ones lol. Tangem, Keystone, and ColdCard for the trifecta
@javishernandez3554 Do you mean that you divide your assets among the three wallets?
You can generate your seed, the chip is airtight, and warranted for 25 years, what are the chances you fk up all the 3 cards? The fact about 12-24 seeds it s just a jerk! 12 seed phrases is 2^132 you have more chances to be struck by a lightning 10 times in the same day than someone to find your phrase! Also the problem of generating your private seed or not it s silly….both the cards and seeds should be treated as gold! And if someone finds your seed you re fked, if someone finds your card, still there s a code as a layer of protection
The amount of paranoia in average user is astonishing. I agree with every word you said.
For 99% of users, Tangem has everything they need to store and secure their crypto.
I understand if Satoshi Nakamoto would have doubts keeping his 1 million BTC on one wallet but for majority of users that's not an issue.
Yeah but you’re forgetting not your keys not your crypto, if tangem goes under yeah it’s open source but those with seed phrase will be saved faster than someone who can replicate their chips
What if you want to set up it to a new phone..you need to just tap !?
@@rastazorastra1772 what are you saying? If tangem goes under what? Replicate the chip? In what world? The seed in on the chip tangem has nothing to do with it ahaha
I've never lost my house keys, car keys, regular wallet, drivers license, birth certificate etc. I'd much rather have a metal backup of seed than cards as a "backup". And the point isn't exactly to say that they had to release this version - which, by the way, 12 seed phrase is not as secure as 24 and it's not just the math behind it - the point was to get views and grow my channel. You do understand this concept, right smart guy? Do you have any idea how many teeny tiny channels are out there with much more in depth technical details about wallets that aren't getting views for shit because they don't know how to market their videos with use of better ideation, thumbnails, and titles? No doubt. You clearly know everything.
They have the option to generate a seed phrase now with the ranged 2.0😊
but only 12 words and you have no display to prove the transaction
That's right, and that'd be the entire purpose of this video. Did you watch more than 45 seconds of the video? I mean this is literally the entire point of the video.
For me, the annoyances are: (1) need to trust proprietary closed source firmware and Samsung secure element, (2) cannot enter 25th word to ensure that RNG is not faulty or malicious, (3) no external screen to verify transactions, (4) I don't understand how Diffie-Hellman alone has any ability to prevent man-in-the-middle attacks and obtaining private key while doing the syncing process. But Tangem wallets are still generally pretty good.
Heeeeyyy! Somebody that knows something! Like a breath of fresh air vs these clowns who say dumb crap like, "how many backups do you need bruh?". 👍
Nice comment! Which cold wallet is the best? Pls answer I'm a n00b
DH is pretty secure against MITM if configured correctly. But bearing in mind the realistic range of the NFC is ~20cm max I like to think you'd notice them sat next to you stealing your keys.
@@DC-uf6veWell.. yea, and the firmware is actually open source not closed source like the other commentor said. It is on github. Still, they actually know what diffie-hellman is and main in the middle attacks. I probably should have mentioned that the seed phrase backup is done via generating the seed on your phone which isn't great; plus I think that means it's not really random since phones don't have a TRNG as far as I know. I'm not a cyber security specialist so I don't know a lot about DH or more it secures from MITM. I've only done basic configs for VMWare VPNs. Still though, much better commenting than about a third to half of the other comments that have rolled in from what I will only describe as juvenile degenerates.
@@Coinopoly the firmware is open source? I cannot find any github repo for it and people appear to agree that the card firmware is closed.
for me , the anxiety is losing my trezor wallet. while i am traveling for job etc. so as i seen tangem, i totally canceled my trezor purchase and went for this one. easy with mobile (which i use most often anyway) and i have some safe backup at home in worst case. Also cheap. Only thing that would be a good improvement to attract more customer is ; if we can buy a NFC pad that connect to USB port and work on PC/Laptop. that would be awesome and totally a good purchase
what's the best place to store your seed phrase? That is the biggest concern for me as if someone finds it they can take your crypto, if you lose it you lose your crypto. etc.
Agreed. That's why tangem is finally what I've been looking for for 3 yeara!
Think of it this way. If I store my seed phrase in a safe in my bedroom, someone has to break in and threaten my family or fuck me up to the point I may or may not give it to them or violence in the process. It’s the same as them coming to your house and violating your very existence at that point there is nothing saving you but you it’s on you. Something happens to Tangem it’s on them. You’ll feel bad not being the last resort, decentralized authority behind your own keys. If tangem rugs or goes under those with seed phrase will be saved a lot faster due to everything being open source then those who can replicate their chips
It is debatable, but to begin with 1) don't tell people you invest in crypto. You don't go around telling people your bank account balance, do you? 2) can store it in a bank safety deposit box 3) can bury it in the backyard 4) can split the seed phrase into multiple locations which gets back to one of the reasons why a 24 word seed phrase is better. If someone gets ahold of 4 - 8 of your 12 words, it is much more plausible to eventually enter the remaining words correctly vs if you had a 24 word seed phrase. I wouldn't go nuts worrying about your seed backup. Get a metal backup. Secure it. I mean look, do you lose sleep at night regarding the security of your debit card? Credit card? Social security number? Passport? Drivers license? No, right? Why would you flip-out over the seed backup?
@@Coinopoly I don't have to worry about DL or SSN because those are recoverable if lost. Your bitcoin isn't recoverable if lost. Plus banks deposit boxes have been broken into & the feds can sieze it. You need to be very careful when custodying your life savings.
@@rastazorastra1772 I don't even want to use the seed phrase option, but if I did, I'd probably write half of the words on one piece of paper, and the other half on another... or at least keep half/half somewhere, so a thief would most likely only have half of your words.
Perhaps this is a silly question, but how do I know that the seed phrase is really randomly generated and not perhaps created when the hardware wallet was sent from the manufacturer? This is a general question and applies to all hardware wallets I guess?
No way that I know of. In my case, I don't use the new Tangem 2.0 with a seed phrase generated on the Tangem anyway. I imported an existing 24 word seed phrase I was already using. But, as you said, then you could apply the same question to the wallet I generated that seed phrase from. Unfortunately, I don't have a good answer to that at this time.
@@Coinopoly Ok, no worries. Thank you
So you can increase the security of the Tangem wallet simply by importing a pre-created 24-word seed phrase?@@Coinopoly
It's a very good question. :). What you do is generate your own seed phrase and import it to your new hardware device.
So far tangem has not had 1 card hacked
My biggest nagging issue is that it doesn't generate fresh addresses for sending crypto to my wallet like my ledger did.
Fire is my biggest worry. That's why it's a bad idea to keep all of the cards in the same place, like different areas of a house. I have no idea where I'm going to keep mine. A fireproof safe for one of them sounds ideal.
Yea. The funny thing is I just posted a video today about a Stonebook & storing it in a fire box along with other important items (passport, deed to your house, title to your car, birth certificate, Stonebook, other seed backups, etc).
Keep one in your wallet at all times.
@@Lam-he6mj I'm 52, and I've never used a wallet. I have one card in the box under my car seat.
@@BillGraper Car is good idea, I will do that as well.
@@Lam-he6mj Also, I used to be against using a seed phrase. I changed my mind. Seed phrases are good, because you can recover your crypto if something happens to the cards. I ordered another tangem, and used the seed phrase option. Then I sent all of my coins from the first tangem to the new one. Here's what I did:
I grouped the words into thirds. Then I put them in a different order. Then I made different colors in the background of each group. I know what order the colors go, because of something I do with photo editing. Here's the extra security. I LEFT OUT the last word. Also, the group that has one less word is not the 3rd group. THEN I saved the image & sent it to 4 different email addresses that I own. Then I starred them in my email, so I could easily find them later.
If anyone somehow gets a hold of my image & figures out the sequence of colors to enter my seed phrase, they would still be missing one word. 😉 I found an image that I downloaded, which reminds me what the word is. It would still be super difficult for anyone to get my crypto using the seed phrase. Since I use Tangem, it was never online, and never on my computer.
If you don’t use Tangem for BTC, What do you use as your long-term bitcoin wallet?
Right now a Safepal S1 and Keystone 3 Pro, but I might get either a Blockstream Jade or a Coldcard for BTC specifically. The Coldcard is supposedly the gold standard for BTC only hardware wallet. Blockstream Jade is also supposed to be good as is the Bitbox02.
Bitlox
@@Coinopoly thanks!!!
Not sure yet , just got mine today . I will set it up and let you know !!! Thanks
Nice! Yea, honestly my Tangem "classic" is in the box still. Been lazy. Well, I don't have a microcap to buy on a dex right now anyways so I didn't bother with it. But, now with the new tangem, I'm about 90% sure I'll be ordering the new model soon and just leaving the classic in a box for a while longer. Likewise, I want to see if the tangem classic and new tangem will work on the same phone at the same time. I read somewhere it will but you know how that goes. Seeing is believing. If they both work, I might transfer me HODLs to the new tangem w/ seed phrase recovery, and then put really high risk not available on central exchanges type of assets on the tangem classic as those will be buys of $100, or $200, and holding for 3 - 6 months. Maybe shorter term even.
@@Coinopoly I bought two and both had the seals opened. I'm returning beware, it was opened very carefully, almost unnoticeable.
@@user-zn5zi3ek9gMine too, very scary!
Not kool. Did you buy it direct from tangem? Thanks for the info
@Coinopoly when is the new one coming out?
What do you recommend Tangem or Safepal S1 Pro for altcoins ?
Anything that doesn't require QR code scanning. Between the Safepal S1 vs the Tangem, that'd be the Tangem. I've now used three which do require QR code scanning, own two, and QR scanning is a PITA believe it or not. Almost never works right, at least not with the camera in my Samsung Galaxy S22. I used to really like my Safepal S1, but NFC cards like the Tangem or D'cent or others like it don't do QR code scanning and so you don't have to wrestle with it for 5 or 10 minutes trying to get all the codes to scan. Also keep in mind, you're not likely going to find a hardware wallet that supports everything you might want. Sure, they'll support 1,000+ other things you don't care about, but if you're looking at dozens of different tokens - especially low cap or micro cap alts - don't expect to find any hardware wallet that supports them all. The beautiful thing there though is you can just use a software hot wallet. Not as secure, but if you're only spending small amounts on microcaps it's worth the tradeoff in my opinion. And as far as seed backup, I just got a Stonebook not long ago. Backup dozens of seeds for wallets for $35. Toss the notebook in a fire box. Good enough for me. The Stonebook isn't just a notebook. It uses more rugged materials. Stonebook + software hot wallets + archival pens (pigmented ink pens) + fire box if you want to go that extra mile, and you should be good.
My biggest concern is that it's manufactured in China.
Yep. They already were caught bugging a lot of computer equipment. Google for article "The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies".
Tangem is the best. 3 cards, so 2 fail safes (ideally at different hidden locations), optional seedphrase if you want it. But if you don't use seed phrase, you need a card and pin number/thumb print/facial scan to approve any sending of crypto
What would you recommend..? I just did a factory reset on an old android now could I set it up with that and seed phrase it and still use my regular iPhone to login and make transfers considering all my exchanges is on the iPhone
Is optional seedphrase only available on 2.0? If I don't need the seedphrase do I get 1.0 coz it is cheaper? Or should I still get tangem 2.0 anyway?
This is not the case with Tangem 2, you can generate a seed phrase if you want it now.
yea no shit
They have that as a option, seedpharse
Yeah. That'd be the entire premise of the video which you didn't watch to that point.
Hello all,
I just received my tangem card 2.0 and seals were open, I don't know if the customs did it or if it happened during transit..
How could I check and verify if these cards are genuine and not exchanged and replaced for duplicate cards...?
Please do reply and help me, as I am very paranoid now..
send it back
I was sent an email from tangem stating that seals may be broken and not to worry , luckily mine came sealed. I did find this to be a strange email. It was a legitimate tangem email.
ruclips.net/video/nB9u7dUfnCg/видео.html
The Tangem software verifies the cards are genuine.
Like you said… conduct a reality test every few months. If one backup goes to shit, order a new three pack, transfer & you’re good to go. These are easy to use, super safe with the no seedphrase approach, and priced perfectly. I like ‘em. Plus- water proof, and resistant to extreme temperatures. Done.
Yea, sort of have to if you don't use the seed phrase option. Which I do on the new tangem. I also own the previous tangem. And TBH, D'Cent has an nfc card wallet too which is cheaper but works different. And there are other nfc card wallets on the market as well.
While a 24 word seed is definitely more secure than a 12 word seed, the odds against breaking a 12 word seed are so astronomically high that it might as well be considered impossible to do with a super computer in 1000 years. A multi-sig wallet with to hardware wallet (Cold Card) backups has effectively one backup in your scenario. For that reason I check both keys every quarter and they are widely separated. I'm not sure that the Tangem is any less secure for the reasons stated. That said, I'm not going to move my funds from multi-sig to Tangem.
People seem stuck on the math of 12 word vs 24 word. Some people split their seed phrase backups into multiple locations. THOSE people would benefit from a 24 word seed phrase IMO. Also, I just don't see the point of the debate. 12 words are ultra secure, why use 24 word? I have a question to answer that question: why NOT use a 24 word phrase? To save 2 minutes? That's how I look at that. But yea you're right, 12 word is also secure. Oh, and let's not forget - this is RUclips. Gotta get views somehow, or it's pointless to even be on RUclips. I'm somewhat surprised this video is still getting views. It's like it is on a treadmill. As far as Coldcard, yea they're good as is a Blockstream Jade, except they hold nothing but btc. I might get one for my btc at some point. But, need other wallets for anything that isn't btc.
But, they do allow you to have the option to store your passwords OR you can have them on the card OR you there are ways you can add 6 cards, on top of the first three. Also if you choose to write down your 12 passwords etc instead of having them on the cards you can also go a step further (Whether they are written on paper / metal stamped cards etc) by splitting them up further with different divisions of Shamirs secret.
yea, and if you watched the video through or read the dozen+ similar comments I've replied to, you'd see that's the entire point of this video
One of my cards died on me while having it in my wallet. They sent me a new set I made a RUclips video about it and they asked me to take it down.
My friend, you never send tangem the cards back. They asked multiple times to do so but you refused it!
@@CryptoFamilie Interesting.... Don't know who you are but I still have the emails of them telling me they are working on postage for me to return the cards for investigation(that's all they say with no follow up) So, there's that. The only way you would know that is if you're working for them or just guessing. Also, I haven't received an email from them since they asked me to take my video down.
It isn't worth taking a video down over a $60 product if you ask me. I reached out to a larger RUclips channel about Tangem. I'm an active member in their discord. They're reaching out to Tangem about issues with broken security seals. I still haven't heard anything back from Tangem since yesterday on X, but it's the weekend. Likewise, I doubt I will hear anything back. As I said in another comment, I'm just going to put some BTC in a wallet setup w/ Tangem I recently received that had broken security seals. If the BTC disappears - aka gets stolen - I'll most likely make a video about it. Two other people have commented here they received Tangems with broken security seals. That said, the security seals are a joke. They're so flimsy I don't even know why they put a seal on it. They really need to spend less on the box, and more on the seal and shipping packaging. I also saw a video earlier this year about a tangem card failing after carrying it around in a wallet. I don't remember if I saw that a month ago, two months ago.. 5 weeks ago.. or what.. and it wasn't really a RUclipsr. More like a one off video. Anyway, companies that bribe you to leave a positive review or insist on taking down a negative review before they replace defective product aren't great.
@@Coinopoly That video you saw recently is me. That's the video tangem told me to take down. I just recently took it off private. The person who responded to my comment just before you got me thinking they lied on me. That's why I reposted it. They were supposed to be sending postage so I can send them the set with the one damaged card but they never emailed me after they asked me to take the video down. This over a month ago. I was trying to honor their request since they did send another set very quick and I wasn't trying to make them look bad just make people aware of a possible flaw. I even ask tangem to make a video to at least warn people of not putting it in their pockets to prevent this from happening they said they would look into it and that's it.
It may not give you a seed phase but if you use a seed phrase that you already have then you have a seed phrase back up
Both options are only available with the new Tangem 2.0 wallet. Which is the entire point of this video: talking about the new Tangem 2.0 wallet and the fact that a seed phrase backup or import is now an option.
If you put a seed phrase/ import or whatever into the tangem it has to be entered on the mobile phone itself which would make it a Hot wallet.
@@stevolanddownunder3549No, that doesn't make it a hot wallet. EVERY hardware wallet has companion software. EVERY companion software has an internet connection. You cannot setup a wallet on the blockchain without ever connecting to the block chain. It doesn't work that way. You'd also never be able to see anything in the wallet if you were never connected. This is a cold wallet because it keeps your private keys offline, and outbound transactions are signed with your private keys offline.
@@stevolanddownunder3549 and dangerous if you input seed phrase on your phone..
i just received and bought two brand new tangem wallets and ordered directly from the manufacture. It was mailed to me from apparently through a third party. Both showed the security seal was tampered with. I'm very upset and won't activate these as i have no faith or confidence in them. The company wants me to pay for the shipping all the way to Hong Kong when it came from Utah. I WILL NOT be using these. BEWARE FOR TAMPERED SECURITY SEALS.
I ordered directly from the manufacturer as well and paid for international shipping, but by checking the tracking information , I don’t think they ship it from the manufacture. And yes, BOTH of the security seal was tampered on mine also!
Actually, mine arrived with a one broken seal also. The packaging of the Tangem Classic and the new Tangem are different. I have both. The new Tangem has a nice box it comes in, but the security seals are very flimsy. And the Tangem box came in a very small bubble wrap. I think what most likely happened is the outer bubble wrap envelope was rubbed up against things which caused the flimsy security seal to break. Still worrisome. I think I'll set mine up and put $100.00 of BTC in it and see what happens. I also just sent them a message on X (Twitter) publicly about this.
@@Coinopoly Mine came in a plastic envelope with no shock packing. They should of had these boxes sealed plastic wrap as well. They will only refund me if its not used so I'm not willing to try it, i don't feel confident the security is breached and unprotected.
@@Vireues I wouldn't trust it. Most videos i watch say to make sure seals are intact. I'd inform them, they only have email, they want us to pay for shipping which is a joke since the seals are broken. they are too lazy to plastic wrap it for secondary safety.
@@user-zn5zi3ek9gI chatted with them online, their CS told me the seals were opened by the customs for inspection. But the problem is, I don’t think it went through customs at all, the first entry of the tracking information was from my home town already. (I paid international shipping for it) The packing envelope with the shipping label on it was never open. Well, I don’t know how’s the customs nor shipping works. And I also notice the serial numbers on three of my cards are not in series, I’m not sure is it intentional or not…..
But you can generate seed phases in Tangem 2 without internet connection. That would be the good thing?
Like airplane mode
YES CORRECT , BUT IS NEW VERSION 2.0 I THINK HAVE START SEED ...DO TOU SEE NEW VERSION ?
A) do you see the Tangem in the thumbnail? B) tell me you didn't watch the video without telling me you didn't watch the video, as that is the entire point of the video, pal. C) Did you read any of the other comments? I've replied to this same "observation" 10x over already. Watch. The. Video. And. Maybe. You. Will. Know. What. The. Video. Is. About. :)
new cards come with seed phrase
Yep, that's pretty much the entire point of this video. The new cards have the option to backup a seed phrase.
loved the part about , "just go to your secondary phone"
I make sure I always have at least one old phone I don't sell/trade in and just have as a backup. In case of emergency, if I lose my seed phrase, lose my phone, if it gets factory reset or compromised, etc, I always have my backup phone logged into all my accounts/wallets
It actually saved my butt once too. My phone was acting glitchy last month so customer support sent me repair software to run myself. I ran it and it factory reset my phone. All my apps logins were wiped and needed to be re-entered again
I thought "no big deal, I'm using the Tangem wallet. A quick tap and everything's back to normal" but then I remembered I was testing a new wallet out of curiosity with the plans of eventually going back to Tangem. All my crypto was in the wallet I was testing when my phone was wiped
And me being an idiot, I thought since I wasn't planning on sticking with that wallet permanently I didn't need to write down the seed phrase. So when I realized all my crypto was in a wallet I just wiped and didn't have the seed phrase for my heart sank and I broke down for a few days.
I didn't remember logging into that wallet on my second phone since again, I wasn't planning on using it long term. Because of that I never bothered checking my second phone. But after days of grief and denial I checked my second phone just for the sake of it and apparently I DID log in to that wallet, all my crypto was right there still on my device. I've never felt a greater wave of relief in my life!
So I acknowledge that I made multiple mistakes to get to that point, not just one, but I still highly recommend having some sort of second device. In this case it's what saved me. Just hold onto an old phone or a family member's old phone or buy a cheap phone and just keep it as extra insurance
Finally someone else is talking about this
what is the best alternative according to you ?
As shown in the video, they released the new tangem which does allow for seed backup if you want to do that. So, the best alternative to the tangem classic would be the new tangem for that style of hardware wallet. There are a huge variety of wallets and I'm only familiar with a small number of them. There could easily be something else similar that I learn about tomorrow that I could feel is better than the new tangem.
That said, I recently received my keystone 3 pro which I like so far but that's a totally different style wallet. Right now I have four hardware cold wallets using three wallets, in terms of three sets of public/private keys.
For physical hardware cold wallet devices I have the safepal s1, keystone 3 pro, tangem classic, and the new tangem. I like the safepal s1 a lot for the price and functionality, but dynamic QR code scanning is a PITA with that device.
The same wallet (public key/private key pairs) is setup on the safepal s1 and keystone 3 pro. The tangem classic generates its own wallet with no option to load existing public/private keys or back them up. And then the 3rd wallet (set of public/private keys) is with the new tangem.
"Wallet" is confusing because it can refer to a software wallet solution like trust wallet, or a hardware wallet like keystone 3 pro - but it also refers to the digital wallet where the actual public/private keys are being used by the software or hardware wallet.
When you get a mnemonic seed phrase backup that is a backup of your wallet and wallet's public/private keys; private keys being the critical keys that you always need to keep confidential as those are used to sign and authorize transactions of crypto out of your wallet.
If you have 12 seed phrases, you can literally load that same wallet onto dozens of hardware wallet devices with access to the exact same cryptos (assuming all the hardware wallets support all the cryptos) and you'd be using "one wallet" with "many wallets". They'd also have to support whatever number of seed phrases as necessary. For example, I have wallets with 24 seed phrase and the new tangem only supports 12 seed phrase.
great answer, thank you so much !@@Coinopoly
How is funny to hear comments for tangem when people speak, what if i loose two card then i have just one for backup 😂, i mean its for normal people, even if you loose your one credit card someone can use your money from card if you not call service and block card, on tangem wallet page need to write its for normal humans not for retarded people, etc 😅, wtf. what is with humans today? 😒
You nailed it! 👍🏼😂
If you lose all three cards you shouldn't own any crypto. LOL
That analogy is flawed. If you lose your credit card you can easily call the credit card company and cancel it. That isn't possible with these cards. You're more than welcome to create a RUclips channel and show the world how brilliant you are. I'm sure it'll work out great.
Are there any report that any card failed due to quality?as far as i know this cards are really durable,-50 degres c, water prof,even if you leave it on botton of ocean for 1 year would still work,even emf pulse wouldnt damage her probably.i guess fire would destroy her of fizical force. there is more chance to loose card than card to stop working.And if you have only pack of 2 cards is not good. 3 card pack are safe .But imidiatlly if you loose 1 you need to get another pack of 3set,and make new wallet.and never keep all 3 card on same place if someone finds all 3 of them thats what i think.I also own ledger but i thrust more to tangem.
There are people in the comments who said their cards failed.. so, yes. But that's to be expected. Nothing is 100% every time. And if you have any fail, don't count on the 25 year warranty. Very few people get in touch with Tangem and successfully get an exchange.
bigger chances are that you loose funds because of own mistake than because of card fail.I use it as my prime cold store wallet and i think is safe to have any amount storred on it as far you are smart and dont do stupid things.But if you are millionare than you need more wallets by default.
@@Coinopoly
How does it generate seed phrases? If it's displayed on app ? Does app not copy seed phrases?
Yes, this is a security risk and why Tangem didn't include a seed phrase originally.
That isn't why the didn't allow a seed to be exported. They even state why in their own blog. They feel that having a seed phrase out in the world is a security risk. The fact it can be lost, stolen, placed in the cloud, etc. Then, after boat loads of people asked for the option, they finally caved and provided the option.
After much research , I have told by tangem inorder to avoid seed phrase capture by malware/copy stroke programming - that wallet user's who do choose option to create seed phrases should buy new mobile handsets and go forward. This eliminating any risk .
But at your own risk , because they can't verify where or who you purchase mobile devices from . 🧐
Tbh, it's verry difficult to loss more than 1 card and even Tangem advise their users to buy the 3 card wallets and buy the new one if they loss one card...
It's not hard if you keep 3 cards at home in your desk drawer and your house burns down. It's extreme, I know, and believe me there are plenty out there WAY more extreme about their wallets, backups, exchanges, privacy, etc. But, ya. It's still certainly possible. Or what if you live in an area that floods? Your belongings can get washed away and lost. Can get a bank safety deposit box, but really I'm not doing that. Maybe one day if I have hundreds of thousands or millions of dollars worth of crypto, but I certainly don't now.
ahahah Tangem suggests you to keep the cards separate... and even if the card ends up in water it will still work :)@@Coinopoly
Not for transferring Bitcoin to another wallet. They charge 8% (Tangem 1) at the lowest cost option. That's worse than banks, credit cards and PayPal combined.
You sure you're not confusing that with network fees?
I may be but 8%? @@Coinopoly
Cipher devices where do u get this?
Wallet manufacturers usually sell them. Safepal and keystone both do.
I don't like the idea there os a whole nunch of site that you can't connect to with wallet connect , dont like the idea i cant store my PLS
What wallet do you use for your Bitcoin storage?
Right now I am just using the legacy BTC address setup via my Safepal S1, but I will be moving that BTC to a newer Segwit address generated by Tangem. In the future, I might get a Blockstream Jade or a Coldcard just for BTC (those only support BTC).
The best cryptocurrency storage wallet can only be found in the Utopia ecosystem
You can backup your seed in tangem wallet 2
Yeah. That'd be the point of this video. Let me guess, you watched for 30 seconds then decided to leave a comment.
Great video
Even for nfc people speak how stop work, how i using all my bank cards with nfc how this always work for me, i not understand, and tangem has chip which generate every time different code, i not see problem on this technology, actually i wait tech like this, because i scare to put money in device with battery and electronic which people use before like wallets
Then you have no idea what a wallet is.. With seed phrase and knowledge of derivation path used to generate the keys originally, you can find a compatible hardware or software wallet to restore your seed words to and you're fine.. that is literally the entire point of a seed phrase backup. Maybe learn something before just shooting off your mouth talking all that trash.
Doesn't Ledger only use a 12 seed phrase?
As far as I know. you can restore a wallet to a Ledger using 12, 18, or 24 seed words but if you generate a wallet with a Ledger it will be a 24 word seed phrase.
I'm pretty sure a longer seed phrase = higher tansaction fees. 12 words is random enough. I think I heard it was nearly all the molecules in the universe.
@@sang3Eta All the molecules in the universe? I suggest you re-think that one.
@Coinopoly Maybe it was the 24 word seed phrase and atoms in the universe. They're both really big numbers though.
Give me tangem with ICP ♾️
Horrible!! After watching this and several other videos decided to purchase Tangem. Places order on November 14... An nothing!! Not shipped, not real customer support and no response on my email.
Still didn't receive it?
I cancelled, and bought Keystone 3 pro.
I guess if you know the encryption key you can make copies🤔
That'd be the point of the new tangem and the video
Tangem is a new company and I don’t trust the chips. Relying on these cards w millions of dollars is risky.
My concern is they are manufactured in China, China recently caught putting bugging devices in US manufactured computer systems and other tech goods, Google the big hack China infiltrated USA companies, keen on the tandem concept need them to manufacture in the United States of America.
I am not going to put ever my trust in Tangem wallet.
The phone app is the real potential weak link.
Not even lol
All cold storage hardware wallets have a mobile app and/or desktop app or there's no way to use them; some are from the vendor, though some vendors don't provide an app. Like the Keystone 3. You have to use Metamask, Blue, Sparrow, etc. However, yes, the software can be compromised but that's no different than your web browser being compromised and you losing your retirement account or bank account funds.
@@Coinopolyother hardware wallets do the private key generating and displaying on the device itself not on the app. If that info is on the app it could be leaked to the Internet and hacked.
@@Coinopoly Yes, that is true, but for example Ledger and DCENT generates the seed phrase in the device not in the app (ecxample: Ledger Live). The only way Tangem can generate the seed phrase is in the phone app, that then back it up in the car via NFC
This video is out of date since Tangem 2.
You'd have to actually watch the video bud. This video is about the new tangem. lol
Thanks Mr Coinpoly For Making 🇯🇵 Crypto 🇬🇧 Great 🇮🇹 Again 🇫🇷 In 2024 🐉🐉! From Aotearoa 🇳🇿
I think you're crazy just absolutely the way you think it's very
Well, let's see.. I have close to 14,000 views on this video and over 95% likes vs dislikes. Seems to me the majority of the people comprehend the point of this video and apparently don't think I'm crazy. But hey, thanks for stopping by.
I wouldn’t be caught dead with the Tangem. I am not comfortable with the chip in the cards. In the last year I have had the chip in debit cards fail on eight different debit cards
NO THANKS
If you've had 8 different debit cards fail within one year either you're doing something wrong or you're in a sketchy environment. That just makes no sense whatsoever.
👍👍👍💪💪💪
Mine and a lot of people I know have received their wallets with the security tab removed. Super Fraud!!
Ordere from the actual company….
ruclips.net/video/nB9u7dUfnCg/видео.html
I am not a friend of Tangem. I had a pack of Tangem Cards with two cards. The first card worked, but the second card did not. I am not using anymore the Tangem card because the second reason why I do not like this card is that I have the feeling that the second card, my backup card, suddenly does not work anymore. Thank you Tangem but no, thank you.
ruclips.net/video/C_uAWUthyzY/видео.html
Tangem is crap they dont support alot coins ,
Are you kidding? It supports a lot more corners than ledger or anything else.
Can always use the Trust wallet which supports 4.5 million and also decrypts your private keys right there on your phone. And it's free! Just be careful with what software you put on your phone, or that "free wallet" might cost you every last cent you ever put into it in the form of cryptocurrency.
the support all the legit coins
no-one has the seed phrase, is the same as everybody has the seed phrase
That's not even remotely true.
@@Coinopoly how do you know someone doesn’t have access to it ?
@@FlipCoin-ZYou're making zero sense. First you state, "no one has seed phrase is the same as everybody has the seed phrase". The seed phrase correlates to a private key which in turn is also used with a public key. This is known as a key pair. This is how a lot of cryptography works. If you're asking how do I know "nobody has the seed phrase" to mean how do I know that the company doesn't have a back door, or that nobody has hacked the companion app on my phone to somehow extract the seed phrase, I don't. And I'm willing to bet neither do you. Are you a world class cyber security expert? Do you know how to write your own operating system? Can you create your own functioning cryptography with no security holes? That isn't a reasonable ask of the average person. If what Tangem states is even accurate to begin with, the Tangem classic doesn't allow you to do a seed phrase backup at all. In theory, nobody - not even the owner of the wallet - has the seed phrase to recover to any other wallet. Regarding the new Tangem wallet, you have the option to use a seed phrase backup. Again going back to what I said previously, if you're asking me how I know - for a fact - that nobody, anywhere, other than me has the seed phrase. I can't know that. I'm not a security expert. If it works as advertised, the Tangem generates a unique private key using a TRNG which I can then backup via a seed phrase. In theory, nobody else has that but me. The entire point of this video - and it amazes me how so many people completely miss this point - is that if you either use the new Tangem wallet w/o a seed phrase backup, or if you use the classic Tangem which has no option for a seed phrase backup - you have to 100% trust that your cards WILL NEVER FAIL. And there are already cards out there which have failed. For short to medium term holds, probably not a real issue 99.99% of the time. What's really the probability of someone losing all 3 cards or having all 3 cards fail at once? Unless they keep them all in the same same spot and that spot burns to the ground, that's probably not going to happen. However, if I move my BTC to the Tangem classic, verify all 3 cards work, and then never look at either one of the two backup cards for years and years, I am then putting 100% trust into this product which I think is a really dumb thing to do. So, if you want to play this "what if" game, I don't got time for that. You're welcome to go hash it out with whatever think tank you belong to. Now, if you have a more reasonable and sensible question that I might be able to answer, let's hear it.
Outdated information, please remove video or update. The new cards do all of this.
Maybe you should actually watch the video before commenting. Your comment is exactly the point of the video.
ppl be never same happy, ones likes one type cold wallet others likes other type, dont liked? use other ones