Ledger Flex is a new, cheaper hardware crypto wallet launched by French startup Ledger. It features an e-ink display and can be used to protect a range of crypto assets. The device retails for $249.
ledger
Cryptocurrency storage company Ledger has increased the price of its iPod-like Stax hardware wallet by 40% (just three months after shipping it to customers) and launched a cheaper version, a major move for the French startup Product transformation.
The Ledger Stax, which features an e-ink display and allows users to protect their cryptocurrencies, is now priced at $399, the company said Friday. This is an increase from the $279 the Ledger originally cost when it launched in December 2022.
Ledger has finally released its long-awaited hardware crypto wallet, Stax, and is shipping it to users who pre-ordered the product in May. The device was designed by Tony Fadell, the inventor of the iPod and an investor in Ledger.
In addition to increasing the price of Stax, Ledger also released a new crypto hardware wallet. The Ledger Flex uses an e-ink screen, similar to the Ledger Stax.
Ledger Chairman and CEO Pascal Gauthier said that the company’s equipment currently protects more than 20% of the world’s cryptocurrencies. “Our new category of secure touch screens will make self-service storage easier than ever for more consumers and businesses,” he added.
The Ledger Flex costs $249, is smaller than the Ledger Stax, and has a 2.8-inch display. It’s designed to look like a small smartphone or credit card reader, with some iPod influence. The Ledger Flex will be available for purchase on Friday and will begin shipping immediately.
Ledger’s Stax and Flex devices can be used to deposit or redeem a range of tokens, including Bitcoin, ether, Cardano and Solana, and non-fungible tokens (NFTs). NFTs are digital assets designed to represent ownership of digital property, usually artwork. No one NFT is the same as another.
Two-factor authentication
Ledger customers primarily use the devices to store so-called “private keys,” alphanumeric codes used to authorize transactions and prove ownership of a crypto wallet. Thanks to the e-ink display, users can also view their non-fungible tokens (NFTs) on Ledger Flex and Stax wallets.
But Ledger believes its wallet serves a wider range of use cases.
A new software update released by the company will soon allow users to access two-factor authentication on their Ledger Flex or Stax devices to log into a variety of apps – from Google or Amazon Log in to Coinbase and Binance accounts.
When users try to log in, they simply wave the Ledger Flex on their phone, and the near-field communication (NFC) chip in the hardware wallet will approve the login.
Ledger Flex features an e-ink display and can be used to protect a range of crypto assets. The device retails for $249.
ledger
Ledger hopes this will help serve a wider audience than just the crypto crowd, who are often skeptical of using centralized services owned by big tech companies like Google and Amazon.
Ledger also offers its own cryptocurrency trading service called Ledger Live. Ledger Stax and Flex users can pair their devices with the Ledger Live app to check device authenticity, receive the latest operating system updates and install apps.
Why has the launch of Ledger Stax been delayed for so long?
Ledger Stax was the company’s first foray into a hardware wallet with a display, but it faced a series of delays, in part due to supplier bottlenecks affecting the device’s screen.
Ledger’s Gauthier told CNBC in March that the main factor holding back the launch was issues with the product’s curved e-ink display that wraps around the device. “We finally succeeded,” he said in a fireside interview at a crypto event in London.
Stax has a few other design quirks. The product contains magnets, which means multiple devices can be stacked on top of each other, like a credit card.
The company has been working to keep its supply chain in good shape in preparation for the launch of new Flex devices.
Both Ledger Flex and Stax are manufactured by Taiwanese electronics contract manufacturers Foxconn — specifically Apple’s supplier — a production plant in Vietnam.
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