Does anyone know how to stake Cardano from a Tangem wallet? I suppose it cannot be done as the Tangem app itself does not keep a transaction record for ADA.
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Hello,
as far as I know, it cannot be done with any of the known cards. (Cardano Foundation branded or the transparent ones with the bird) I don’t know how it is with the new Tangem ring.
If I can recommend something here: It is always clever to write this to the support to show there is demand for such a feature.
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I like the ease of use of the Tangem wallet but I will not move funds from Daedalus or Yoroi if I cannot stake it. Tangem had better get working on it real fast as the community is really loyal and growing.
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According to this thread from June it’s not possible: https://www.reddit.com/r/Tangem/comments/144x4tx/cardano_staking/
I’m a little wary on the whole concept of Tangem. In contrast to Ledger, Trezor, or Keystone, only the signature itself is done on the card with no way to see what exactly it is that is signed there. All the other hardware wallet solutions present you a more or less verbose version of what you are signing to control before confirming.
Moreover, it seems a bit risky to me that the keys are only on the card and you don’t have a rescue option via seed phrase in case your card breaks. They claim that it’s an advantage because seed phrases can get in the wrong hands: https://developers.tangem.com/about-tangem-card But I don’t really buy that.
I like that for the other hardware wallets, it is known how they derive keys from the seed phrase and I can do it in software without any help from them, without even still having a hardware device in case of emergency.
It’s also a bit strange that in https://developers.tangem.com/about-tangem-card they claim:
Tangem card guarantees that it is the only place in the world that holds the private key. Therefore, it is not possible to export, import, restore or in some other way gain access to the wallet private key. Loss or physical destruction of the card is equivalent to loss of the wallet’s funds.
While in https://tangem.com/en/blog/post/how-tangem-wallet-backs-up-private-keys/ they describe how to backup the keys.
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The first article is 2 years old, the second one is about their new card which includes support for seed phrases if desired. The community asked for it and Tangem delivered, so credit where it’s due. I agree about not actually signing on the device… that and no desktop support means I’m still looking around, but it seems Ledger is still way ahead regarding compatibility.
??? None of the articles talks about seed phrases.
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It’s on all the marketing docs for the new version, and here’s their blog post: The New Tangem Wallet Seed Phrase Option | FAQs | Tangem Blog
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yeah, version 2.0 of the card allows you to generate a seed phrase via app - requested feature
of course you can still setup your cards the original way without a seed phrase
if you want a seed phrase i’d only ever do it on a freshy factory reset phone with wifi/sim removed would factory reset the phone again after generation, just about everyone has an old phone - hopefully from a reputable manufacturer
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