Ledger, a company that produces hardware wallets, has introduced a new product. Stax is a cryptocurrency wallet based on the Ledger platform, providing users with unprecedented ease of use and interactivity when dealing with their digital funds.
The company unveiled the Ledger Stax, its newest offering, on December 6th. Together with iPod co-creator Tony Fadell, a new hardware wallet has been created.
The touchscreen device, about the size of a credit card, can be used to control more than 500 digital possessions. Through the use of the Ledger Live app, it can also store NFT collections and connect with a variety of Web3 apps.
According to the press release, Bluetooth connectivity is also available for use with mobile devices. Customers can pre-order the new wallet for the steep price of $279, with delivery expected in March 2023.
The company advertised its curved E-ink screens and “unmatched energy efficiency” in a manner reminiscent of Apple’s. Because of the built-in magnets, customers who require multiple units can stack them.
As CEO of Ledger, Pascal Gauthier bragged, “none ever hacked” of the 5 million Nanos that had been sold.
It’s high time for a device aimed at the general public. But we can’t let security slip.
The company brags that its new payment system is “built on trust.” Unfortunately, in 2020, Ledger was involved in a major data breach scandal that caused some users to lose money.
It flat-out said it wouldn’t compensate victims of scams or phishing attempts. Despite the fact that it was already known that company servers had been breached and their data stolen.
However, as crypto investors grow wary of centralized exchanges, there has been a rise in the popularity of hardware wallets as an alternative. The demise of the FTX exchange hastened the transition to self-custody.
Tony Fadell, a designer, chimed in, “We need a user-friendly… no! A “user-delightful” application that makes digital asset security accessible to everyone, not just computer experts. Fadell joined Apple Inc. in 2001 and eventually became the senior vice president of the iPod division.
Chief Experience Officer of Ledger Ian Rogers chimed in, “Tony Fadell thinks about the circuit board and the billboard when he builds a product.”
He has high hopes for the new wallet, which he calls the “crypto iPod” of the company. The advertising reads like it was lifted from an Apple promotional handbook.
We have created a device that is cool, beautiful, and fun with Ledger Stax,” he said.
In November, Ledger enabled ETH and DOT staking on its Enterprise platform.