The Difference Between Tangem Wallet Generations

TLDRTangem Wallet 2.0 offers more security and backup options compared to the first gen wallet. The new version allows you to create or import a seed phrase, ensuring access to your funds even if you lose your cards. The first gen wallet only uses the extra cards as backup and does not support seed phrases.

Key insights

:one:Tangem Wallet 2.0 allows you to create or import a seed phrase, while the first gen wallet does not support seed phrases.

:two:Losing cards with Tangem Wallet 2.0 is not a problem, as access to funds can be restored with the seed phrase.

:three:The first gen wallet requires physical cards for access, while the new version can be used with just the seed phrase.

:four:Tangem Wallet 2.0 provides more flexibility by allowing the import of seed phrases from other wallets.

:five:The new version offers enhanced security features and is more durable, with an IP68 rating.

Q&A

Can I import a seed phrase into the new Tangem Wallet?

—Yes, you can import a seed phrase consisting of 12, 15, 18, 21, or 24 words into the new Tangem Wallet.

Is the seed phrase method recommended?

—The seed phrase method is optional, but it provides added security and flexibility to access your wallet on different devices and wallets.

Is Tangem Wallet open source?

—The firmware is not open source, but it has been audited by Swiss auditing companies. The Tangem app, however, is open source.

How long does it take to set up Tangem Wallet?

—It takes approximately 3 minutes to set up the cards, and slightly longer if you choose the seed phrase method.

Does Tangem Wallet support multiple addresses?

—Currently, Tangem Wallet does not support multiple addresses, but it is a highly requested feature that they are actively working on.

Timestamped Summary

00:00The new Tangem Wallet 2.0 offers more security and backup options compared to the first gen wallet.

05:07Tangem Wallet 2.0 allows the import of seed phrases from other wallets, providing more flexibility.

08:47The first gen wallet does not support seed phrases, while Tangem Wallet 2.0 allows you to create or import a seed phrase for added security.

10:12The new version of Tangem Wallet offers enhanced security features and durability with an IP68 rating.

11:18Tangem Wallet does not currently support multiple addresses, but it is a feature they are actively working on.

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