- The crypto security company Ledger debuted Ledger Flex, the newest in a series of hardware products that utilizes its patented E Ink technology.
- Ledger, which was founded in 2014, has sold more than six million physical wallets.
- The business is going through a transformation after causing a stir with a crucial recovery service in the previous year.
Ledger, a crypto security company, made the announcement of Ledger Flex, its newest hardware product, live at the Bitcoin BTC +1.93% 2024 conference in Nashville, Tennessee.
The new gadget, like the previously announced Ledger Stax wallet from the France-based company, features Ledger’s patented E-Ink touchscreen display technology, which is meant to make the device easier to use without sacrificing security.
Chairman and CEO of Ledger Pascal Gauthier said, I have proud to say we’re beginning the bar again after a decade of setting the standard for security and self-custody in crypto and digital assets.
One of the safest ways to store cryptocurrency over the long run is via “cold storage” wallets, which hardly ever, if ever, connect to the internet.
According to a press release from the firm, Ledger, which was created in 2014 primarily as a retail brand, has sold over six million hardware wallets, safeguarding the keys to more than 20% of global digital assets.
Flex will interface with Ledger’s Secure OS operating system and link to the Ledger Live desktop and mobile applications. To far, this software has merged with 200 dApps, 10,000 tokens, and 70 blockchains to enable purchasing, selling, and other cryptocurrency financial services. Providers included in this integration include Moonpay, Coinbase, PayPal, and Lido.
Flex is one of Ledger’s more costly products, costing $249. The two “nano” series devices are more reasonably priced; the Nano X retails for $149, while the Nano S Plus costs $79 at retail. After development delays, Tony Fadell, dubbed “the godfather of the iPod,” released the highly anticipated $399 Ledger Stax in May.
After launching its Ledger Recover service last year, which was intended to increase users’ chances of getting their money back in case they misplaced their keys or seed words, Ledger encountered backlash. Because it would re-encrypt and divide users’ private keys between Ledger, the cryptocurrency security company Coincover, and an independent backup service provider, critics viewed this as a possible backdoor.
This followed a 2020 data breach that damaged the reputation of the security company and revealed the emails of around 10,000 clients.
Ledger concluded a $100 million investment round and maintained its $1.5 billion valuation in early 2023 despite challenging market conditions.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
