As a Canadian crypto trader since 2016, I’ve tested over 30 different cold wallets, and I’m excited to share my insights on the Tangem wallet—a standout option for securely storing your cryptocurrencies. My name is Oleg G., and with nearly a decade of experience in this space, I’ve learned one key lesson: the safest way to protect your crypto is to move it off exchanges and into a private wallet. Self-custody gives you full control over your assets, adding a critical layer of security that exchanges simply can’t guarantee.
Tangem is one of the most unique cold crypto wallets I’ve ever used.
Unlike traditional hardware wallets, it comes in the form of a sleek card—or even a ring—making it ultra-portable and user-friendly. There’s no need for charging cables or batteries, which sets it apart from the crowd. But as with any innovative design, these trade-offs come with pros and cons, which I’ll dive into throughout this Tangem review. Drawing on my extensive experience with cold storage, I’ll break down what makes Tangem special, how it fits the needs of Canadians, and whether it’s the right choice for keeping your crypto secure.
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Pros & Cons
- Tap-to-Use NFC Technology
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Top-Tier Security (EAL6+ Certified)
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Ultra-Portable Card Design (or ring)
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Triple Card Set for Backup
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No Cables, Chargers, or Computers Needed
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Built to Last 25+ Years
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Rugged and Waterproof
- High-Scored Mobile App
- Flexible Setup Options
- Transaction Scam Warnings
- Affordable Price Point
- Broad Coin Support
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Mobile-Only
- No Built-In Screen
- Tricky DeFi Integration
- Potential Security Concerns
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Fees
The cost is around around $67 CAD (roughly $49.99 USD for a two-card set) or $94 CAD (three-card set, ~$69.99 USD)
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Coins
Over 6000
What Coins Does Tangem Wallet Support?
Tangem supports over 6,000 cryptocurrencies and tokens across more than 40 blockchains. This includes widely used coins like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE), alongside numerous ERC-20 tokens and lesser-known altcoins. The range spans both established and emerging projects, offering broad compatibility.
Unlike some hardware wallets that limit the number of assets due to storage constraints, Tangem imposes no cap on how many cryptocurrencies you can manage on a single card. The accompanying app integrates with the card or ring to track your holdings, with support for new coins added through periodic firmware updates. For Canadians seeking a wallet that adapts to a diverse portfolio, this level of flexibility stands out.
Most app-based wallets, or software wallets, keep your private keys on your phone—a device that’s often online and vulnerable to hacks. This setup risks exposing your keys to theft if your phone is compromised. That’s where hardware wallets like Tangem come in, offering an offline alternative. Tangem’s unique twist is its form factor: it’s a slim, credit-card-sized device (or even a ring) that stores your private keys securely without ever needing an internet connection.
How Does Tangem Wallet Work?
Tangem’s unique twist is its form factor: it’s a slim, credit-card-sized device (or even a ring) that stores your private keys securely without ever needing an internet connection.
Unlike traditional hardware wallets with screens or USB ports, Tangem uses Near Field Communication (NFC) technology—the same tech behind contactless payments. To use it, you tap the card against an NFC-enabled smartphone running the Tangem app. The card’s chip, a secure EAL6+-certified microcomputer, generates and holds your private keys offline. When you want to make a transaction, the card signs it internally after you tap it and enter an access code (or use biometrics via the app). This keeps your keys isolated from the internet, adding a solid layer of security.
A common misconception about crypto wallets applies here too: your cryptocurrency isn’t stored on the Tangem card itself. Your assets live on the blockchain, and the card simply holds the private keys needed to access and manage them. The wallet doesn’t “move” your crypto—it authorizes transactions by signing them offline, ensuring your funds stay on the chain.
Tangem’s card-based system has a distinct recovery approach. It comes in sets of two or three identical cards, each sharing the same private key. If you lose one, you can still access your funds with another card from the set, provided you remember your access code. Alternatively, if you opt for a seed phrase during setup, you can import it into a new Tangem card (or compatible wallet) to recover your assets. Either way, losing the physical card doesn’t mean losing your crypto—your funds remain safe on the blockchain, ready to be reclaimed. I prefer the seed phrase method.
How to Use the Tangem Wallet (Canadian-Targeted Version)
When you first get your Tangem wallet, it arrives as a set of three cards. You’ll start by downloading the Tangem app from your phone’s app store—widely available in Canada on iOS and Android, with no import hassles.
Open the app, and you’ll have two options: create a new wallet or restore an existing one. If you’ve lost a Tangem card but have a backup or seed phrase, pick “restore” and follow the prompts to recover access.
For a new wallet, tap one of the cards against your NFC-enabled phone. The app activates the card’s chip, which generates your private keys.
You can choose a seedless setup (just an access code you set) or opt for a traditional seed phrase. If you pick the seed phrase, write it down on paper and store it somewhere safe—don’t snap a photo or save it digitally, as that defeats the offline security. The other cards in the set sync to the same key, making backups easy for Canadians who value redundancy in our unpredictable climate.
To send or receive crypto from Canadian crypto exchanges like NDAX or any others, open the Tangem app and add your desired networks or tokens. It supports major blockchains like Bitcoin and Ethereum, plus CAD-pegged stablecoins popular in Canada—just paste their contract address.
For receiving, tap the card to generate your wallet address, then copy and share it.
For sending, enter the recipient’s address and amount in the app, then tap the card again to sign it. Enter your access code (or use biometrics) to confirm, and the card signs it offline via NFC before the app broadcasts it.
The process relies on your phone and NFC—no cables or extra devices.
Tapping the card for each action might feel odd at first, but it’s fast and suits Canadians who need a wallet that’s as mobile as our winters are long. The air-gapped design—no USB or Bluetooth—keeps your keys offline and secure.
What’s in the Tangem Wallet Box?
The Tangem wallet box keeps it simple, and I love that they’ve stripped it down to the bare essentials—no cables, no chargers, just what you need. Inside, you’ll find three cards, each the size of a credit card with an NFC chip baked in. There’s also a small instruction sheet to get you started. That’s it—no bulky accessories or extra junk to store. The minimal approach means you’re not stuck managing another cable or device, just a sleek, self-contained setup ready to tap and go.
Is the Tangem Wallet Safe?
I consider the Tangem wallet to be a safe option for storing crypto. It’s designed to stay completely offline, relying on NFC for interactions instead of Bluetooth, WiFi, or USB connections, which cuts down on remote hacking risks. The private keys are generated and stored in an EAL6+-certified chip—think bank-card-level security—embedded in each card, and they never leave that chip, even during transactions.
Security hinges on how you handle the setup. With the seedless option, you set an access code that’s required for every tap, keeping things simple but reliant on your phone’s safety. If you choose the seed phrase instead, write it down and store it securely—don’t digitize it, or you’re undermining the offline advantage. Lose a card? The spare cards in the set (or a new one with your seed phrase) let you restore access without losing your crypto, as long as you’ve safeguarded your code or phrase.
The air-gapped design and durable, waterproof cards add to its reliability. That said, past firmware hiccups have sparked minor concerns online, though Tangem patches them quickly. Overall, it’s a solid setup if you manage the basics right.
Tangem’s Recent Vulnerability
I need to mention a significant vulnerability that recently shook my confidence in Tangem. In late 2024, Tangem disclosed a potential security flaw affecting a tiny fraction of users—fewer than 0.1%. Here’s what happened: when activating a wallet with a seed phrase (not the seedless mode), the private key was accidentally logged in the mobile app’s logs. These logs could then be accessed if you contacted support through the app within seven days of activation. If you didn’t reach out to support or used the seedless setup, you were in the clear—no keys were exposed, and no funds were lost either way.
The bug stemmed from an NFC logging tweak meant to boost app performance, but it slipped past initial testing. Only users who both activated with a seed phrase and emailed support via the app in that narrow window were at risk. Tangem says no private keys were compromised, no accounts were breached, and no crypto vanished—still, the possibility gave me pause. A hardware wallet’s whole pitch is ironclad security, so any glitch like this raises doubts.
What I really loved, though, was how Tangem handled it. They publicly admitted the vulnerability, fixed it fast with app updates (version 5.19.1 on iOS, 5.19.2 on Android), and wiped all logs sent to support. They even rolled out a detailed public release—something rare in the crypto world, where companies often sweep issues under the rug. For me, this transparency adds an extra layer of trust. They didn’t just patch it; they owned it, notified affected users, and laid out clear steps: update the app, transfer funds, reset the wallet, and reactivate it. Plus, their bug bounty program shows they’re serious about staying ahead of risks. While the flaw made me question Tangem briefly, their response turned it around—I respect a team that doesn’t hide.
Price
At around $67 CAD (roughly $49.99 USD for a two-card set) or $94 CAD (three-card set, ~$69.99 USD), Tangem is one of the cheaper hardware wallets out there—check tangem.com for exact pricing. I love that it skips cables and extras, keeping costs and clutter low. It’s a solid deal for what you get.
Tangem vs. Ledger vs. Trezor
Here’s how Tangem stacks up against Ledger Nano X and Trezor Model T, its main rivals:
Tangem
- Assets: 6,000+ cryptocurrencies, unlimited storage.
- Features: NFC, no screen, plastic card (or ring), waterproof.
- Security: EAL6+ chip, 100% offline, air-gapped.
- App: Mobile only.
- Price: ~$67–94 CAD (2 or 3 cards).
Ledger Nano X
- Assets: 5,500+ cryptocurrencies, 100 manageable at once.
- Features: Monochrome screen, steel build, Bluetooth.
- Security: EAL5+ chip, optional Bluetooth.
- App: Mobile and desktop.
- Price: ~$209 CAD.
Trezor Model 3
- Assets: 2,800+ cryptocurrencies.
- Features: Color screen, plastic, microSD slot, tamper-evident.
- Security: No Bluetooth, offline option with SD card.
- App: Desktop only.
- Price: ~$294 CAD.
Tangem supports over 6,000 assets with no storage cap, outpacing Trezor’s 1,800+ and Ledger’s 5,500+ (though Ledger limits you to 100 active at a time). For sheer flexibility, Tangem leads, followed by Ledger, then Trezor.
Ledger and Trezor bundle crypto exchanges into their apps (Ledger Live, Trezor Suite), letting you buy straight to the wallet without KYC—handy, but fees are steep, so I’d stick to external exchanges. Tangem skips this, keeping it lean.
Usability-wise, Trezor’s color screen and Ledger’s steel body edge out Tangem’s no-screen card—you rely on your phone for everything. But Tangem’s NFC and minimal design (no cables!) make it ultra-portable, unlike the bulkier Ledger and Trezor.
Security’s tight across all three. Tangem’s EAL6+ chip and full offline status match Trezor’s no-Bluetooth approach, while Ledger’s Bluetooth on the Nano X might worry some (despite its EAL5+ chip). Trezor’s microSD trick—needing the card inserted to work—is a unique extra layer Tangem and Ledger lack.
Tangem’s mobile-only app beats Trezor’s desktop-only limit, though Ledger covers both. At $67–94 CAD, Tangem undercuts Ledger ($209 CAD) and Trezor ($294 CAD), offering top value if you don’t need screens or Bluetooth.
Tangem Downsides (Personal Experience)
I’ve found a few quirks with the Tangem wallet that might not suit everyone. Making a transaction takes extra steps—opening the app, typing my code, tapping the card—which feels slower than wallets with screens or buttons. I’m okay with it for the offline security, but I can see it bugging someone who wants speed over everything else.
It’s tied to my phone with no desktop option, and I’ll admit, I sometimes miss managing my crypto on a bigger screen. There’s also no built-in exchange, unlike my experiences with Ledger or Trezor. I don’t mind using a separate platform I trust, but it’s not as slick if I want everything in one place.
The no-screen setup throws me off a bit too—relying on my phone to confirm everything feels less hands-on than I’m used to with other wallets. For me, the minimalist card is a trade-off: I love its simplicity, but it leans hard on my mobile setup working perfectly every time.
Tangem Wallet Customer Support
I’ve seen mixed chatter about Tangem’s customer support—some users grumble about slow responses or shipping delays, but digging in, a lot of those issues seem tied to user mix-ups rather than the wallet itself.
From my end, I haven’t needed to reach out much. The app’s got a decent help section, and their website covers setup and troubleshooting well enough.
I did poke around their support once for a quick question, and they got back to me without hassle. For me, Tangem’s been smooth sailing, but I’d say their support’s solid if you don’t expect instant hand-holding.
Latest Updates on Tangem for Canadians
Tangem’s been rolling out updates that catch my eye, especially for Canadians.
They’ve expanded their app (version 5.19+ as of late 2024) with better DeFi hooks, letting me tap into decentralized apps more easily—handy since Canada’s crypto scene loves Web3 flexibility.
The card itself hasn’t changed, but I like that they’re tweaking firmware to support more tokens regularly.
Conclusion
Tangem’s a solid choice if you’re starting with hardware wallets or want something easy. I like that it’s a thin card I can slip in my wallet, costs only $67–94 CAD, and lets me sign transactions with a tap—all offline, no Bluetooth or cords needed. I’d say it’s one of the best options for Canadians who care about price and carrying it around. It supports over 6,000 coins with no limit, which works well for me when I trade lots of tokens.
If you’re a crypto user wanting a computer app, Ledger or Trezor might be better—they’ve been around longer and have more features. Tangem’s newer, but I trust it, especially after they admitted that security issue and fixed it fast—most crypto companies don’t do that. It’s not perfect—no screen or built-in exchange means I rely on my phone and other sites—but for my money, it’s a safe, cheap pick.
