Bitcoin and cryptocurrency hardware wallet manufacturer Ledger has announced a new wallet designed by former Apple engineer Tony Fadell, named Ledger Stax. The wallet utilizes E Ink technology on a small, rectangular wrap-around screen, similar in appearance to a smartphone.
The device will function as other Ledgers do, allowing users to store bitcoin and various other cryptocurrencies in cold storage, offline. The front of the device will feature a customizable display that can feature photos or NFTs, per the device product page.
Ledger Stax has a price tag of $279 with an estimated delivery date of March 2023, and the device is now available for pre-order. It will also be available in Best Buy stores, as the electronics giant currently stocks the Ledger Nano S Plus and Nano X devices.
The Stax has been designed to introduce a more premium product, going beyond the simple Ledger Nano S, which is small and has features similar to a USB drive. It also comes at an opportune time for the company, as many reconsider their desire to self-custody their cryptocurrency after the massive collapse of the FTX exchange and subsequent loss of billions of exchange-custodied user funds. Indeed, in response to questions from Fortune Crypto, a company spokesperson confirmed that in November “Ledger had its two best-ever sales days.”
In addition, Fadell described his reasoning for his design to Fortune Crypto, saying “We need a user-friendly — no, a ‘user-delightful’ — tool to bring digital asset security to the rest of us, not just the geeks,” said Fadell.
While there is debate amongst the greater Bitcoin Maximalism community in regards to utilizing and promoting wallets that offer compatibility for altcoins, having more users practice self-custody as opposed to trusting in custodians could be considered a net educational benefit for the ecosystem, and theoretically an appealing, well-designed device could introduce more people to that concept.
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