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Why I do not like Tangem Wallet - I am responding to hundreds of Q's over the last week:

  • First reason: It is heavily promoted by numerous YouTube channels, which raises a red flag. If something is being excessively hyped, it may be a scam. 
  • Second reason: It does not support BIP39. 
  • Third reason: It is only suitable for small amounts of money.

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Tangem Wallet - good Ledger alternative?

▶️ MAIN YOUTUBE CHANNEL: https://www.youtube.com/investanswers 👋 JOIN THE FAMILY: http://www.patreon.com/investanswers 📈 IA MODELS: http://www.investanswers.io 📬 IA NEWSLETTER: https://investanswers.substack.com Question from Patreon member: Could you comment on the Tangem wallet. Very simple, no seed just back ups on NFC credit card like devices. What does the wallet security expert say. Recording date: June 4, 2023 Original video: https://youtube.com/live/OhBaZhd6tWo #iaclips #investanswers #tangemwallet #cryptowallet #hardwarewallet #besthardwarewallet Disclaimer: InvestAnswers does not provide financial, investment, tax, or legal advice. None of the content on the InvestAnswers channels is financial, investment, tax, or legal advice and should not be taken as such; the content is intended only for educational and entertainment purposes. InvestAnswers (James) shares some of his trades as learning examples but they are only relevant to his specific portfolio allocation, risk tolerance & financial expertise, may not constitute a comprehensive or complete discussion of such topics, and should not be emulated. The content of this video is solely the opinion(s) of the speaker who is not a licensed financial advisor or registered investment advisor. Trading equities or cryptocurrencies poses considerable risk of loss.  Kindly use your judgment and do your own research at all times. You are solely responsible for your own financial, investing, and trading decisions.

Comments

Anonymous

James - this is old information. The new Tangem Wallet 2.0 does in fact allow seed creation. It is optional. The original card does not (and can not) allow seed creation. Tangem Wallet 2.0 is fantastic to use - superbly designed UI.

Anonymous

New Tangem V2 allow you to choose to have seed phrase, and everytime you reset it, it will generate a new seed phase which are different than the original one.

Anonymous

So where the heck should we hold the bags James ? Spread around yes but where exactly?? - ledger has lost market confidence, others seem clunky with respect to UI - have we reached a point of storing where places like Nexo.io that have insurance against theft with Lloyd’s of London and utilise multiple cold storage facilities with a variety of companies 🤷‍♂️🤷‍♂️🎄on clients behalf - merry Christmas 🎅 btw 😁 keep up the great work we do appreciate it 🤩👍

Anonymous

Thanks. I see this wallet promoted on another channel and it seemed appealing. Glad to be here.