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Parachute wallet

The most secure hardware wallet for your Parachute

Join thousands who trust Tangem to store their Parachute securely. Experience top-notch security and convenience.

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How to secure your Parachute with Tangem?

When you buy or hold Parachute in Tangem, it secures your private keys in many ways:

How to get a Parachute Crypto Wallet?

Tangem products are for everyone, from beginners to experts. They keep your crypto safe and easy to manage. With cutting-edge technology, Tangem lets you control and protect your digital assets.

Get Tangem
Firstly

Get the Tangem Wallet.

Take control of your assets with just one tap. It's perfect for anyone new to crypto and offers a great experience for more experienced users too.

Then

Sync Tangem Wallet with our App.

During the activation process, the card’s embedded chip generates a random private key, ensuring that the wallet cannot be compromised.

Finally

Discover the power of crypto.

Manage crypto with balance tracking, secure transactions, and direct purchases or swaps through Tangem Wallet.

Why choose Parachute wallet with Tangem.

Privacy

No registration and KYC required to use the app. We don't track your data.

Security

Your private keys are encrypted and never leave your device. Only you have control over your funds.

Convenient designs

Choose from a variety of elegant designs, including unique co-branded editions and our innovative ring-form factor wallet, ensuring both style and functionality.

24/7 Customer care

Fast support for your needs. Live chat and email support for customers from all over the globe.

What is Parachute (PAR)?

Parachute DAO emerged in 2018, setting its sights on community-driven management and expansion in the cryptocurrency arena. Initially dabbling in freelancing and mining concepts, by 2020, it pivoted towards nurturing diverse offshoot communities. By the end of 2021, Parachute embraced a complete DAO model, granting its community the power to direct governance and product innovation.

What is a Parachute wallet?

A Parachute wallet is responsible for securing your private keys, which grant access to your PAR address. While it doesn't store the PAR coins themselves—they remain on the blockchain—it plays a crucial role in creating and safeguarding these keys. This enables you to access and manage your PAR accounts effectively. In brief, a Parachute wallet is an essential tool for storing, sending, receiving, and controlling your PAR.

How does a Parachute wallet work?

Parachute wallets employ a pairing of public and private keys to handle blockchain accounts. The private key is key to unlocking your specific PAR account and must be kept secure, whereas the public key can be shared to receive PAR. To send PAR, the corresponding private key is required. The Tangem Wallet securely produces and maintains these private keys using its chip technology.

What are the types of Parachute wallets?

  • Exchange Parachute Wallets:
    Major exchanges like Coinbase, Binance, and Kraken offer the purchase of PAR using traditional currency via custodial wallets, which can risk loss of access due to centralized control.

  • Software Parachute Wallets:
    Designed to be installed on various devices, software wallets offer easy management of private keys and PAR, while being susceptible to digital vulnerabilities, including malware. This category includes mobile, desktop, and browser wallets.

  • Mobile Parachute Wallets:
    Apps tailored for smartphone use for managing PAR.

  • Desktop Parachute Wallets:
    These reside on computers, keeping private keys on internal storage like hard drives or SSDs.

  • Hardware Parachute Wallets:
    Storage solutions that remain offline, like Tangem, offering protection from online threats.

How to Choose the Best Parachute Wallet

The ideal wallet is one that aligns with your individual needs, factoring in ease of use, reliability, longevity, and safety. For robust protection against online risks and secure storage of significant PAR amounts, opting for a hardware wallet like Tangem is highly recommended.

Parachute PAR
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Tangem supports other cryptocurrencies

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Parachute FAQ

  • You can buy Parachute on major cryptocurrency exchanges like Binance, Coinbase, or Kraken. You can also use P2P platforms or specialized exchange services. For safe storage, it is recommended to use a reliable wallet like Tangem.
  • For long-term storage of Parachute, a cold wallet such as Tangem is the best choice, offering a high level of security. For active transactions, a hot wallet is more convenient but less protected from hacking.
  • Transfer fees for Parachute depend on the blockchain network load and the exchange or wallet used. Typically, this includes a network fee (gas fee) and possibly additional fees from the platform.
  • To create a wallet for Parachute, install the Tangem app, follow the instructions to set up a cold wallet, and generate a unique address for storing your cryptocurrency.

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