Cryptocurrency storage company Ledger has announced a significant price increase for its Stax hardware wallet and the launch of a new, more affordable device called Ledger Flex. The Stax, initially priced at $279 when it was unveiled in December 2022, will now cost $399. This increase comes just three months after the device began shipping to customers who preordered it. The Ledger Stax, designed by Tony Fadell—the inventor of the iPod—features an E Ink display and is intended to secure users’ cryptocurrency assets. The price hike reflects the company’s ongoing product development and the advanced features of the Stax. In addition to raising the price of the Stax, Ledger is launching the Ledger Flex, a new hardware wallet priced at $249. The Flex also features an E Ink screen, similar to the Stax, but is smaller and designed to resemble a small smartphone or credit card reader. The device, which has a 2.8-inch display, aims to make self-custody of digital assets more accessible to a broader audience. Pascal Gauthier, chairman and CEO of Ledger, highlighted that the company’s devices secure over 20% of the world’s cryptocurrency. He emphasized the importance of making secure, user-friendly tools available to both consumers and enterprises. Both the Ledger Stax and Flex can be used to store and manage a variety of digital assets, including popular cryptocurrencies like Bitcoin, Ethereum, Cardano, and Solana, as well as nonfungible tokens (NFTs). NFTs are unique digital assets that represent ownership of digital items such as artwork. Ledger’s wallets are primarily used to store private keys, the secure codes needed to authorize transactions and prove ownership of crypto assets. The devices’ E Ink displays allow users to view their NFTs and other digital assets directly. Ledger is also introducing a software update that will enable users to access two-factor authentication (2FA) features on both the Stax and Flex devices. This feature will enhance security by allowing users to log into various apps, such as Google, Amazon, Coinbase, and Binance, by simply waving their Ledger device over their phone. The devices use a near-field communication (NFC) chip to approve sign-ins, providing an added layer of security for online accounts.
