This week, cryptocurrency cold storage wallet manufacturer Ledger, known for its Nano S and Nano X crypto wallets, revealed its new Ledger Stax product, complete with an “E-Ink” touchscreen.
In the wake of the FTX fallout and millions of dollars worth of digital assets now locked away due to third-parties, cold storage is a more important topic than ever before. Here is why that reason and many more could make the Ledger Stax a killer app for the crypto industry.
Ledger Drops New Cold Storage Wallet
The Ledger Stax is now available for pre-order for a price tag of $279, with estimated free delivery expected around March 2023. It’s the latest design to join the Ledger Nano X and S devices that have become a staple for cold storage in the community.
Ledger stores your private keys securely on the device for uncompromising security, locked away by a passphrase you must remember, write down, or otherwise keep safe.
Stax sets itself apart from other Ledger products by including an “E-Ink” touchscreen that is customizable with an NFT or personalizable with a photo displayed on the lock screen – whether the device is on or off.
It also features bluetooth and wireless charging technology, and is “no thicker than a stack of five credit cards,” making it something you’ll want to take with you.
Why The Ledger Stax Could Be Crypto’s Killer App
Motorola first introduced the handheld mobile phone in the 1970s. Even as late as the 1990s as the internet was catching trend, mobile phones were more like giant rectangular boxes with antenna much larger than your face.
It wasn’t until Apple introduced the iPhone with its touchscreen that made mobile phones something everyone in the world had to have in their pocket. Form factor was essential to early success, but it was the user-friendliness of touch and the visual appeal of the screen that made the smartphone a revolutionary product.
The all-new Ledger Stax is the first step toward making a crypto wallet more appealing, more functional, and something you want to carry around or interact with. It’s also one of the first ways to show off NFTs in the physical world beyond your mobile phone or desktop.
But most importantly, the touchscreen again makes the device as user-friendly as the smartphone. Following several cryptocurrency companies going bankrupt and the rampant hacks throughout DeFi, asset security is a hot topic. New cryptocurrency users intimidated by using a USB-like device could find comfort in using something much more familiar feeling in the hand – becoming one of the first killer apps that crypto users absolutely must have.
Featured image from Ledger, Charts from TradingView.com
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Author: Tony Spilotro