Cryptocurrency enthusiasts are embracing a novel ring that enables them to carry their Bitcoin and other digital assets on their finger. The Tangem Ring, touted as the world's first ring-shaped hardware wallet, was introduced earlier this year and has already sold over 10,000 units. "We've witnessed significant interest from all corners of the globe," shared Ana Jacobson, Growth and Community Lead at Tangem. "Our initial batch of 10,000 rings sold out rapidly. Sizes in our second batch are also running out on our website. The third batch is slated to arrive in February."

Jacobson noted that several customers have expressed plans to use the ring as a proposal token for their partners. "It symbolizes a modern commitment," she explained. "It's practical, durable, and stylishly carries digital assets. While some have mentioned using it for proposals, we haven't received any proposal photos yet."

Crafted from Zirconia ceramic, a material known for its durability and lightness, the Tangem ring is scratch-resistant, dustproof, waterproof, and can withstand extreme temperatures. The company claims it's ideal for daily use and comes with a chip backed by a 25-year warranty.

How it functions

The ring set, comprising one ring and two cards, is available for Dh475—a 20% discount off its market price—at the ongoing Bitcoin Conference Mena in Abu Dhabi. "The smart backup technology and seed phrase option offer robust protection against loss or theft of digital assets," said Daria Bystrova, the company's marketing lead. "It facilitates hassle-free access to Bitcoin, Ethereum, and other cryptocurrencies without the need for cables, batteries, or chargers."

Upon activation, the ring's embedded chip generates a random private key, ensuring its security. The private key is stored on the ring and two Tangem cards, with no other copies existing. The smart backup activation is a one-time process with no further modifications required.

Users can tap the ring on their phone to access their wallet for sending, receiving, buying, transferring, and swapping thousands of tokens and coins, as well as accessing DeFi, dApps, and NFTs. Equipped with NFC (Near Field Communication) antennas, the ring connects seamlessly with compatible smartphones. However, for security, the ring must be removed from the finger and tapped on the phone to access the wallet.

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