Cryptocurrency enthusiasts are embracing a novel accessory that allows 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 received a tremendous amount of interest from all corners of the globe," said Ana Jacobson, Growth and Community Lead at Tangem. "Our initial batch of 10,000 rings sold out rapidly. The second batch also saw many sizes sell out on our website. The third batch is anticipated to arrive in February."
Jacobson revealed that several customers plan to use the ring as a proposal token for their significant others. "It truly represents a modern symbol of commitment," she explained. "It's practical, durable, and stylish, making it an ideal way to carry digital assets. Several individuals have mentioned their intention to use the ring for proposals, though we haven't received any proposal photos yet."
Crafted from Zirconia ceramic, a material known for its durability and lightweight nature, the Tangem Ring is scratch-resistant, dust-proof, waterproof, and can withstand extreme temperatures. The company claims it's suitable for everyday wear and comes with a chip that boasts a 25-year warranty.
The ring set, comprising one ring and two cards, is available for Dh475—a 20 percent discount off its market price—at the ongoing Bitcoin Conference Mena in Abu Dhabi. "The smart backup technology and seed phrase option offer maximum protection against loss or theft of digital assets," said Daria Bystrova, the company's marketing lead. "It also provides hassle-free access to Bitcoin, Ethereum, and other cryptocurrencies without the need for cables, batteries, or chargers."
During activation, the ring's built-in 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 in any form. 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, enabling transactions such as 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 ensures a seamless connection with compatible smartphones. However, for security reasons, the ring must be removed from the finger and tapped on the phone to access the wallet.
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