Crypto execs discuss how wearable hardware wallets can advance crypto technology and accessibility, promoting adoption.
Wearable hardware wallets can potentially drive mass crypto adoption by making digital asset management more accessible. The Tangem Ring, a ring-shaped hardware wallet, exemplifies this trend. Developed by Tangem, one of the leading hardware wallet providers, the ring supports instant crypto exchange services by Changelly, an instant crypto exchange and application programming interface (API) provider for businesses.
In this interview, Changelly CEO Jake Cormack and Tangem chief commercial officer Darya Karpukova shared insights on the latest advancements in hardware wallet technology, the features of the Tangem Ring and how their partnership is improving crypto accessibility and security.
Changelly and Tangem are established companies in the crypto industry. Can you describe how hardware wallet technology and adoption have changed within the last five years?
Darya Karpukova: Hardware wallets have evolved from simple storage devices to sophisticated tools that support a wide range of functions, including staking, decentralized finance (DeFi) access and seamless integration with platforms and exchanges like Changelly.
Innovations like the Tangem Ring reflect this shift, offering advanced security features such as our EAL6+ certified secure element, eliminating the need for cumbersome seed phrases, and introducing more user-friendly designs. Today, users are looking for solutions that can address all their needs with just one product – their hardware wallet, which has evolved beyond just a secure vault on the shelf.
Tangem Ring has a unique, ring-shaped design, which is quite uncommon for a hardware wallet. What inspired this design, and what sets it apart from traditional hardware wallets?
DK: The inspiration behind the Tangem Ring came from our desire to combine security with the convenience of daily use and simplicity. We wanted to create a hardware wallet that users could wear daily, making crypto management an effortless part of their daily routine. Whether at the gym, traveling or just out and about, your crypto is always on your finger.
What sets the Tangem Ring apart is its unprecedented level of security and sleek design, which not only looks elegant but also integrates advanced security features of a hardware wallet, such as self-custody, durability and resistance, making it both a functional and fashionable tech accessory. High-purity hypoallergenic zirconia ceramic for its sleek appearance contributes to resilience against scratches and extreme conditions.
How does Changelly empower the crypto hardware wallets with seamless exchanges? What is the story of the partnership between Tangem and Changelly?
Jake Cormack: Changelly has enhanced the utility of crypto hardware wallets by integrating its exchange services directly into them. This allows users to swap crypto instantly without transferring funds from their secure wallets, ensuring convenience and competitive market rates.
Our partnership with Tangem exemplifies this. Tangem is working with Changelly to enable instant crypto exchanges within the Tangem wallet interface. This collaboration offers Tangem users access to over 700 coins and 330,000 trading pairs for quick and secure exchanges.
By combining Tangem’s hardware technology with Changelly’s trusted exchange APIs, we are creating a new standard of seamless swap experience for crypto enthusiasts.
One of Tangem Ring’s goals is to simplify crypto management. Can you elaborate on how the ring’s features make crypto more accessible and user-friendly?
DK: Innovations in cryptocurrency technology projects deserve more than just sitting in a safe. Here is where the concept of the ring evolves: your wallet is now always on your finger and accessible with just one move of your hand. There is no longer a need to use chargers, batteries, and USB cables.
The Ring offers tap-and-go access to crypto assets, simplifying management and saving users time. This portable and simple form factor allows crypto enthusiasts to access their wallet anytime, anywhere — running, driving or relaxing. The Ring provides a simple, fast and elegant way to securely store and manage crypto. With one tap, users can buy, sell, exchange crypto and access non-fungible tokens (NFTs) and DeFi, making crypto management intuitive and accessible, even for beginners.
How has Changelly contributed to facilitating the mass adoption of crypto and the usage of hardware wallets?
JC: Education, user-friendly interface and ease of authentication are the keys. In over nine years on the market, we have seamlessly onboarded over 7 million users who access the API solutions that allow various types of enterprises to integrate instant crypto exchange features into their platforms.
Tangem Ring doesn’t settle for less: in their bid to offer the most innovative, secure and customer-oriented approach to all utilities of crypto, they want to push back the frontiers of the hardware wallet industry, and we are delighted to support them with our instant crypto swap infrastructure. With Changelly’s API, Tangem Ring customers can swap crypto literally on the go, and conveniently at that.
Security is a major concern for crypto users. Could you highlight Tangem Ring’s security features and explain how they ensure the safety of users’ assets?
DK: The Tangem Ring incorporates several advanced security features to ensure the safety of users’ assets. It includes an EAL6+ CC-certified secure element, developed in collaboration with Samsung Semiconductors, protecting against invasive and non-invasive attacks.
The smart backup technology links the ring with two backup cards, ensuring that private keys are securely stored. Additionally, the ring’s non-upgradable firmware, audited by Kudelski Security and Riscure, ensures there are no backdoors or vulnerabilities.
Can you tell us more about the specific benefits that Changelly provides to Tangem Ring holders?
JC: To celebrate the launch of a new flagship product by Tangem, we are introducing a special campaign for the first owners of the Tangem Ring. Till the end of July 2024, customers can use the promo code “SWAPFORFREE” to get their rings at a discount. Once their orders are delivered, Tangem Ring users can count on 0% service fee transactions via Changelly in the Tangem Ring app. We have collaborated on a similar Valentine’s Day offer and engaged over 1 million customers who enjoyed 0% processing fee swaps and made thousands of transactions within a week.
What is your vision for the future of crypto mass adoption, and how do you see your collaboration influencing this landscape?
JC: I am confident that the Web3 industry will witness more innovation in wearable crypto-related devices as crypto enters our daily lives. Eliminating the complexity associated with traditional hardware wallets encourages more people to explore and adopt cryptocurrencies, and Tangem contributes its technologies to this shift.
That’s where Changelly comes into play, enabling frictionless instant swaps for Tangem users — whether they want to save their digital assets or explore new hot coins — while crypto becomes more accessible.
Source:- COINTELEGRAPH