Ledger Partners with iPod Inventor Tony Fadell to Unveil New Hardware Wallet Device

Using a touch screen and large display, the Ledger Stax enables smooth interaction and signing of transactions.

Woman shocked looking at a human hand holding phone with crypto wallet app open including bitcoin ethereum and other crypto coins
  • Hardware wallet maker Ledger has partnered with iPod inventor Tony Fadell to launch Ledger Stax.
  • The device facilitates interaction and signing transactions with a large display and touch screen.
  • The wallet will have a credit card size, capacitive touch, Bluetooth, wireless charging, and many more features.
  • Ledger intends to make the Stax wallet readily available in the first quarter of 2023 for $279.
  • As a result of the FTX crisis, Ledger has seen a huge increase in sales.

Popular hardware wallet provider Ledger has collaborated with Tony Fadell, the inventor of the iPod, to launch its new wallet, identified as Ledger Stax. This development was announced at today’s bi-annual Web3 developer event.

The firm said the device possesses features capable of easing interaction and signing transactions through a touch screen and large display. Ledger added that the Stax device would run as a credit card-size device, featuring a lot of attributes, including capacitive touch, Bluetooth support, and wireless charging. 

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In addition, the firm revealed the new device has a curved E Ink display that can display transaction details, NFTs, and necessary information about the holder. Additionally, it is enveloped with magnets which help users easily organize the storage of numerous similar devices. It can also “stack” them in an orderly way. 

Meanwhile, Ledger seeks to sell the Stax wallet at $279 and intends to make it readily available by the first quarter of 2023. The hardware wallet provider said it would consider making the device available through selected retailers. However, potential users can pre-order it on its official website before its release. 

This is not the first time that Ledger is unveiling its wallet devices. Recall that the wallet provider launched Nano S Plus and Nano X devices earlier. Notably, the devices cost $79 and $149, respectively. Meanwhile, Ledger insisted that the new device is not coming on board to replace the previous devices but to avail customers of more alternatives.

Ledger Records Huge Sales Volume in November

It is noteworthy that Ledger has, since the instigation of the FTX crisis, seen a huge rise in its sales volume. Recall that following the crisis, many investors began to abandon and lose trust in centralized exchanges. They have instead opted to self-custody their crypto assets. This consequently improved the level of patronage usually recorded by the firm.

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According to reports, Ledger recorded its best sales volume in November, double its previous month.

On the Flipside

  • Even though hardware wallets are designed to store cryptocurrency keys offline and are unhackable, they can still be exploited. There are reports of hardware wallets being tampered with during shipping and fake wallets being sent to users to phish private key information. It is, therefore, essential to ensure your device is genuine before using it.

Why You Should Care

As a result of the FTX collapse last month, users’ trust in centralized exchanges has diminished. Ledger might have picked a good time to introduce its new hardware wallet following the demise of FTX and other crypto firms.

 

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Soumen Datta

Soumen has been a dedicated researcher and writer in the field of cryptocurrencies for the last few years. Even though Indian crypto regulations are still unclear, he believes that India will continue to innovate in the years to come. He loves to play his guitar and sing along in his spare time. He holds bags mostly in BTC, ETH, BNB, MATIC, ADA.