Paying vendor from Tangem wallet

[bada bing]

Is there a downside paying directly from a Tangem wallet as opposed to doing the transaction through Exodus ?
I know that paying directly from an exchange is frowned upon. How about from a cold wallet like Tangem ?

 

[bluewater]

Is there a downside paying directly from a Tangem wallet as opposed to doing the transaction through Exodus ?
I know that paying directly from an exchange is frowned upon. How about from a cold wallet like Tangem ?

I think its all upside. I tried paying a vendor from Coinbase which was rejected (by Coinbase). So I switched to my Tangem Cold Wallet and have never looked back since.

 

[Camlbacker]

What exactly is Tangem cold wallet, and what are some of the ways it can be used that makes it different than, say Exodus?

 

[bada bing]

It's a hardware wallet with matching app for your phone. You have custody of your crypto instead held in your name at an exchange or web based wallet like Exodus. You can find them at Amazon and videos on YouTube

 

[5byfive]

There is no difference. They are just different companies that are essentially doing the same thing. Exodus is a hot wallet, Tangem is a cold wallet (which means its not stored online) but that makes no difference for the transaction.

A cold wallet is more secure (and more of a PIA) but there is no practical difference in using it to purchase off the gray market.

 

[bada bing]

I'm considering purchasing a second Tangem to use as a dedicated crypto transaction account. Reason to consider this is I have more on my existing Tangem than I really want to expose to risky online purchasing. Any crypto-savants around to weigh in on if that's overkill or not ?

 

[bluewater]

I'm considering purchasing a second Tangem to use as a dedicated crypto transaction account. Reason to consider this is I have more on my existing Tangem than I really want to expose to risky online purchasing. Any crypto-savants around to weigh in on if that's overkill or not ?

Your existing Tangem already supports this, so there’s no need to buy another one. You can create multiple named accounts on the same Tangem and use them for different purposes. For example:

Trading Account

• BTC
• Solana
• Ethereum
• Sui

Main Account

• BTC
• USDC
• Other long-term holdings

Peptides Account

• BTC
• USDC

In this scenario, just use the Peptides account for all your research purchases and keep your main holdings separate. It’s a simple way to compartmentalise your funds without needing a second Tangem. Because it is a cold wallet, no-one can send money from your crypto account to a third party unless they have your Tangem Card in their possession. So from that perspective its very secure and low risk.

 

[bada bing]

Your existing Tangem already supports this, so there’s no need to buy another one. You can create multiple named accounts on the same Tangem and use them for different purposes. For example:

Thank you for this. Very helpful. I feel a little dumb for not doing a deep dive on the nuts-n-bolts of the Tangem.
I have a little stash of USDT for vendor purchases and wanted to segregate it away from some BTC I'm holding.