A common complaint about crypto is that it is still relatively inaccessible, and can be intimidating and unintuitive for newcomers.
This can refer to the underlying product itself, in the sense that prices are volatile. It can refer to exchanges and centralized crypto platforms, with the now-disgraced FTX having led the way in defrauding its users and undermining adoption. And, it can refer to the user experience, meaning the tools and applications through which we interact with crypto.
Directly addressing the latter two of those issues (and from there, indirectly, the remaining issue as well), is a new product from the leading cold wallet maker, Ledger, which could, potentially, go down as a significant and influential piece of crypto hardware.
The Ledger Stax is the newest hardware wallet from French company Ledger, unveiled at the Ledger Op3n conference in Paris and scheduled for release by the end of March 2023.
Ledger’s devices up to now have a perfect track record when it comes to security, but where the Stax makes a significant departure is on the surface. It was designed by Tony Fadell, who is known for having designed the Apple iPod, and it looks every bit as sleek and attractive as any Apple product.
It’s small, utilizes a curved, E Ink touchscreen, and several devices can lock together using magnets, so you can carry a handheld stack of crypto and NFTs just as you might bundle together a stack of banknotes.
NFTs can be displayed on the wallet’s surface, QR codes can be generated to quickly carry out transactions, and NFC technology is included in the very smooth minimal-looking package.
Check out the recent London Summit session on the topic: “Digital assets’ marketing under a magnifying glass.”
What Issues Are Addressed by Ledger Stax?
Self-Custody
The end of 2022 has seen an outflow of bitcoin from centralized exchanges, triggered by the collapses of FTX, and, earlier in the year, Celsius and Three Arrows Capital.
Many bitcoin veterans, who have a deep understanding of the leading cryptocurrency’s potential utility, have, in fact, greeted this as a long-term positive development. A common refrain from bitcoiners has always been not your keys, not your coins, with keys referring to the cryptographic keys to your wallet, something you only possess if…
