Ledger Starts Shipping its New Ledger Stax Hardware Wallet After 18 Months

CryptoNews.com

2024-05-27 23:44:42

Ruholamin Haqshanas

Last updated:

May 28, 2024 03:44 EDT | 2 min read

French startup Ledger has finally begun shipping its latest Ledger Stax devices, nearly 18 months after their initial announcement.

Collaborating with Tony Fadell, one of the key designers behind the iPod, Ledger has introduced an updated wallet featuring an E-Ink display, according to a report from TechCrunch.

E-Ink technology, commonly used in e-book readers like the Amazon Kindle and Rakuten Kobo, provides a clear display in daylight while consuming minimal power.

Following the fulfillment of all pre-orders, Ledger plans to list the Ledger Stax on its website once sufficient stock becomes available.

Design Hurdles Led to Delay

The prolonged delay in shipping the hardware wallet can be attributed to the company potentially overpromising on the design front.

The curved E-Ink display incorporated in the Ledger Stax proved more challenging to produce at scale than anticipated.

Unlike its counterparts, the Ledger Stax boasts a larger display with a secure touch screen that directly interacts with the device’s secure element.

This feature offers enhanced user-friendliness compared to the arrow buttons found on other Ledger devices.

While the Nano S Plus exclusively works with a USB-C cable, both the Nano X and the Stax include a Bluetooth chip.

Consequently, users can initiate cryptocurrency transactions from their phones and validate them on their hardware wallets without the need for wires.

Targeting high-end clientele, Ledger initially sold the Ledger Stax for €279 during the pre-order phase (approximately $300 at the current exchange rate).

The company has not disclosed the final retail price, which will be announced when the wallet becomes available again on its website.

Ledger Stax Hardware Wallet Security

In terms of security, all Ledger products store the private keys of users’ wallets.

With Ledger, the private keys never leave the device, providing assurance that even if a computer or phone is compromised, the assets remain safe.

However, it is worth noting that most cryptocurrency hacks are phishing attempts, and while Ledger cannot guard against social engineering and scams, they do offer a subion product for those seeking added peace of mind.

Significantly, the release of the Ledger Stax marks the beginning of a production partnership with Foxconn, a consumer electronics manufacturing company.

Previously, Ledger assembled its devices in Vierzon, France, and although the Nano S Plus and Nano X will continue to be manufactured there, the collaboration with Foxconn signifies an expansion in production capabilities.

Ledger has already sold over 6 million devices to date, and the company estimates that it secures approximately 20% of the world’s cryptocurrency assets.

It is worth noting that Ledger experienced a sharp increase in sales after the chaotic collapse of FTX in November 2022 as consumers rushed to self-custody solutions to safeguard their digital assets.

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