Hardware wallet maker Ledger is one of the few parties that has managed to profit significantly from the collapse of central parties in the crypto industry. There is now a whole laundry list of companies that have collapsed in 2022 and they all teach crypto investors the same thing: “not your keys, not your coins’.
Ledger is a big name in the hardware wallet industry and doesn’t seem to be standing still when it comes to innovations. The current range currently includes the Ledger Nano S Plus and the Ledger Nano X, but that will change in the first quarter of 2023.
Ledger Stax
In fact, Ledger has teamed up with Tony Fadell, the well-known maker of Apple’s iPod and co-founder and former CEO of thermostat company Nest, to develop the latest hardware wallet called ‘Ledger Stax‘ to create.
With this latest model, the hardware wallet manufacturer hopes to develop a more stylish and functional device that can win mass adoption among crypto users. Ledger Stax is a credit card sized device with built-in magnets for easy stacking of multiple devices. The exterior is a wraparound E-ink touchscreen that can display transaction details and even non-fungible tokens (NFTs). It is therefore also possible to customize the lock screen by setting your favorite NFT or photo as wallpaper.
The Ledger Stax will retail for $279.00, compared to $149.00 for the Nano X and $79.00 for the Nano S Plus.
Hardware wallet popularity
It might be the best timing for the manufacturer to launch a new hardware wallet as the popularity of hardware wallets has gone through the roof. After the bankruptcy of FTX, confidence in crypto exchanges has taken a nosedive and investors are opting for it en masse self custody. You could read earlier that Ledger even faced some scalability challenges due to the massive use after the drama surrounding FTX.
In addition, you could read a few weeks ago that Trezor, another well-known hardware wallet manufacturer, had experienced a whopping 300% increase in sales revenue since the demise of FTX. Ledger had also shared that November 14, 3 days after FTX filed for bankruptcy, was the best day of sales ever for the company.
