Ledger, the Bitcoin and cryptocurrency hardware wallet manufacturer who is famous for developing useful, usable and desirable crypto wallets recently unveiled a new hardware wallet named “Ledger Stax.” The wallet has been designed by Tony Fadell who was formerly employed at Apple as an engineer where he designed the iPod and iPhone.

The primary objective of this Ledger Stax crypto wallet is to provide users with a cold storage service wherein their cryptocurrencies can be stored in an offline manner.

If we witness the timing of the product, it has been unveiled at an opportune moment when users have lost huge amounts of money in cryptocurrency due to the FTX exchange collapse. The collapse has made people rethink their choices regarding the ownership of their cryptocurrency. Even the company clarified that during the collapse they had their two best days of sales.

What are the features of the Ledger Stax Crypto wallet?

The Stax Crypto wallet is shaped like a thick credit card and its exterior is completely covered with sensitive E-ink technology. The E-ink technology wraps itself in a 180° manner around the spine of the wallet. This technology helps the user gain greater control over their device due to its seamless configuration.

While it’s at rest the wallet displays your digital art. This technology gives the wallet an aura where the digital and physical experiences culminate within each other giving the device a premium feel.

The overall UI of the device can be termed as intuitive which makes it easier to send and receive cryptocurrency through the physical wallet. The device comes up with a stack of features such as Bluetooth, USB-C charging etc.

Apart from that, the display of the Ledger Stax wallet has a pixel touch paired with an E-ink display supporting 16 shades of grey colour. The wallet is loaded with a range of security features such as two-factor authentication (2FA) and a secure element chip.

To prevent the device from getting hacked it comes with anti-tampering technology and a secure Bluetooth connectivity network.

What are the assets which Ledger Stax supports?

The recently launched Ledger Stax wallet supports the same range of assets supported by Ledger Nano X and Ledger Nano S Plus. The Ledger Stax is currently compatible with 5000 coins and tokens through the Ledger Live app. The Ledger Stax is seamlessly compatible with various Ethereum and Polygon-based NFTs which can also be used to display pictures over the wallet. You can also store Bitcoin, and other blockchain coins too.

What are the product specifications of the Ledger Stax wallet

Display

Size of Display: 3.7 inches
Resolution: 400 × 672 pixels
Colours of display: 16 Shades of grey

Size/Weight

Weight: 45.2 grams
Dimensions: 85mm x 54mm x 6mm

What is the cost and availability of a Ledger Stax wallet?

The Ledger Stax wallet is currently only available for pre-order. The delivery of the wallets is expected to initiate by March 2023. The Ledger Stax wallet can be ordered from their official website. The wallet has been priced at a rate of $400.

Will the Ledger Stax wallet boost mainstream cryptocurrency adoption

Tony Fadel while unveiling the wallet declared that the primary intent behind developing the wallet was to introduce a “user-delightful” product in the ecosystem. The product is centred around bringing in digital asset security among the popular culture and not only among the geek community.

If we look at the history of popularising the smartphone we will realise that smartphones were introduced by Motorola in the year 1970 and the internet was introduced in the year 1990. However, the appeal of smartphones in popular culture started to germinate only after the iPhone was introduced. The form factor paired with the appeal of display and various other factors helped in the mass adoption of smartphones.

The Ledger Stax wallet seems to repeat the same story. The wallet brings in a kind of physical custody of digital assets. It’s a form factor which allows you to show your digital NFTs. The touchscreen feature makes the device as good as a smartphone. Psychologically the crypto wallets help in bringing in a familiar device identical to a smartphone for crypto custody which is a diversion from the original USB-shaped devices.

The entire cryptocurrency community is debating the topic that the incorporation of crypto wallets introduces self-custody among users. This practice should be kept in mind in wake of the recent FTX collapse wherein trusting a custodian resulted in massive losses for everyone.

Final thoughts

Ledger Stax wallet seems to be a great device for users dealing with Defi or NFTs. Although it comes loaded with a premium price the range of features associated with it justifies the heavy cost. The on-chain security provided by the wallet is a must-have in an ever-changing crypto ecosystem. The UI provided by the wallet will help in seamless interaction with Defi or NFT products daily. You should get a Ledger Stax, if you can afford paying the premium price and would love to store your crypto safely.

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Filed under: News - @ December 10, 2022 1:16 pm