Switzerland-based crypto hardware wallet company, Tangem, has recently announced the development of a unique cold wallet specifically designed for the Shiba Inu (SHIB) cryptocurrency. According to an official tweet from the Shiba Inu team, users can now place pre-orders for these card-shaped wallets starting from May 29. This move has generated considerable excitement within the Shiba Inu community.
The Tangem SHIB Wallet is touted as supporting over 6,000 different cryptocurrencies, along with various decentralized finance (DeFi) applications, such as decentralized exchanges (DEXs), crypto lending services, and non-fungible tokens (NFTs). Notably, Tangem claims that its wallet requires no provision of personally identifying information and is free of any transaction fees.
Developed in collaboration with Shiba Inu Swap, the Tangem SHIB Wallet is expected to have significant modifications related to more than just its outward appearance. However, specific details regarding these changes are still sparse. Apart from the SHIB token, the wallet will also support its related ecosystem tokens, such as LEASH and BONE.
One primary advantage of the Tangem SHIB Wallet is its user-friendly design, resembling a standard credit card, which makes it easy to operate via a smartphone. As a result, it offers users both portability and ease of use. Moreover, the wallet boasts a “smart backup” feature that protects investors and holders from losing access to their wallets.
Instead of relying on seed phrases, the backup feature functions via additional cards that serve as a source for wallet recovery. Therefore, the Tangem Wallet is typically sold in sets of either two or three cards.
In light of this exciting development, the price of SHIB has experienced fluctuations, currently trading at $0.000008542. This represents a drop of 1.87% over the last hour, compared with a decrease of 2.35% over the past twenty-four hours.
While the introduction of Tangem’s SHIB Wallet may be a boon for the Shiba Inu community, it is crucial for aspiring investors to be aware of market conditions and conduct thorough research before investing in any cryptocurrency. Keeping up-to-date with recent news and developments in the world of cryptocurrencies is critical for making informed decisions.
With the anticipated drop in the SHIB price and the growing excitement around the launch of Tangem’s SHIB Wallet, it remains to be seen how the new cold wallet will ultimately impact the broader Shiba Inu ecosystem and the value of the SHIB token. Will this move lead to further gains for its holders, or will it merely be a short-term boost to the cryptocurrency’s value? As with all investments, only time will tell.
Source: Coingape
