In this article, I will discuss the How to Buy Crypto with Tangem, a simple and secure way to manage digital assets.
Tangem lets you store and manage the crypto using a smart card, adding another layer of security by allowing offline and self-custody. Now let’s breakdown the steps in buying crypto with Tangem.
What is Tangem?
Tangem is a mobile-and hardware-powered digital wallet that enhances the user experience by fusing security with convenience. The wallet relies on physical smart cards which serve to store private keys for cryptocurrencies.
This Tangem wallet smart card is intended to help users manage their cryptocurrencies conveniently without needing to have internet connection. With Tangem, users can securely store, transfer and manage their crypto assets through an easy-to-use interface.
The cards are extremely difficult to break into and utilize powerful cryptography to guarantee that the assets remain safe from unauthorized users. The wallet is a new and innovative approach to self custody because users have custody of their cryptocurrencies while maintaining security over them.
How to Buy Crypto with Tangem
Certainly! Here’s a step-by-step process on how to purchase cryptocurrency through the Tangem Wallet platform:
Download and Install the Tangem App
Download Tangem’s app via App Store or Google Play and install it on your device.
Open the Tangem App
Open the app and create your Tangem Wallet by following the provided instructions.
Select Token
Select the cryptocurrency that you wish to purchase. For this example, we will choose USDT (Tether) as our preferred cryptocurrency.
Tap on Buy
As a next step, select the “Buy” option on the app. This will send you to a secure gateway that is under the supervision of Mercuryo, a service you are already familiar with.
Complete KYC Process
In relation to some KYC/AML rules, it looks like you have to do the KYC process. That means that you will need to submit your phone number, ID, and, in some cases, a selfie.
Choose Payment Method
Choose the payment option that you prefer, for example: Apple Pay, Google Pay or using a VISA credit/debit card.
Enter Payment Details
Fill in the required payment details including email, name, and the amount you wish to contribute. Ensure that the selected country and currency is accurate.
Confirm Payment
Click on the “Pay” button to complete the payment. Your cryptocurrency will be transferred to your Tangem Wallet as soon as we receive your payment.
Check Your Wallet
Make sure to occasionally check your Tangem Wallet to ensure the correct amount of cryptocurrency has been added.
Why Choose Tangem for Buying Crypto?
Greater Protection
The modern digital wallet hoping feature and integration of a smart card is what distinguishes Tangem. Private keys are never placed online and stored in the smart card. This assures the user’s crypto assets cannot be exposed to hacking or theft.
Very Simplified
Cutting edge sensors are combined with Tangem app which makes it user friendly, fun and easy to store, buy, as well as manage all forms of cryptocurrencies. NFC powered cards also work electrically which makes them super easy to use. There is no complicated setup involved making all your funds easy to access.
Self-Custodial
Peace of mind is guaranteed to the user having custody of their private keys with no third party control. All assets or cryptocurrencies are on full control meaning there is no worry about funds getting mismanaged unlike a custodial wallet.
No Connectivity required
An added level of security from cyber threats comes from using tangem cards offline. This is great for individuals who prefer no connectivity for transactions.
Support Across Devices
Tangem is great as it is easily used over a range of devices. This includes both android and apple smartphones which is great as it means you can manage your crypto assets on the device of your choice.
Backup and Recovery
In the event of losing or breaking the card, Tangem’s backup options guarantee fund recovery without losing access to assets.
Pros & Cons
Pros
Top Notch Security: Tangem’s private keys are never connected to the internet because they are kept on their physical smart cards, meaning no online hacks can target them. This makes crypto storage relatively safer.
Easy to Use Interface: Both advance and novice users can easily navigate the Tangem app and are thus able to buy, store, and manage cryptocurrency without any hassle.
Full Self-Custody: You no longer have to depend on third party services to secure your crypto assets as you possess total control over the private keys.
Transacting Offline: Crypto asset management and transfer can be carried out even without an internet connection.
Cross-Platform Compatibility: The app can be used on both Android and iOS devices so different smartphone users can easily access it.
Backup and Recovery: With Tangem, you can regain access with recovery options in case your card is damaged or lost.
Cons
Dependence on a Physical Card: Your personal card needs to be secured as it is used to store keys. If the card is lost without proper backups, access can potentially be lost.
Does not Provide Full Coverage for Some Cryptocurrencies: Users might need to check whether the Tangem platform supports the cryptocurrency they intend to use, as it might not support the user’s preferred digital currencies.
Need a Phone With NFC Capabilities: All devices do not support NFC enabled phones, so in order to use the Tangem card, a smartphone that can access NFC is needed.
No Immediate Exchange Functionality: Users can temporarily store their crypto assets on Tangem cards, but the cards do not work directly as an exchange. Users have to purchase the crypto assets from another platform and then deposit them onto the Tangem card.
Increased Difficulty For First Time Users: Novices to cryptocurrency wallets or the Tangem system might have a difficult time understanding how to use the application, even though it is designed to be simple.
Conclusion
To wrap things up, purchasing crypto with Tangem is simple and safe. To begin, make sure to have your Tangem card handy and download the Tangem app on your mobile device.
After completing the app setup, you are now able to fund your Tangem wallet via bank transfer or other exchanges.
Once you load the card with crypto, access it with the Tangem app and it enables you to manage, transfer, or purchase crypto. NFC technology ensures that your digital assets can be accessed easily and securely.
Managing and buying crypto through Tangem becomes an effortless endeavor while also allowing users to maintain a high level of security over their assets.
