Last year was great, the future looks even greater
Crypto-currency wallet Ledger generated sales of $52 million last year, successfully solving wallet security challenges that emerged during the year and managing to stay on top, convincing users that their funds were in the best hands.
According to a report published in Forbes, 165 countries adopted the Ledger in 2017. It resulted in an impressive $52.9 million in sales for Ledger, with a significant profit of $29.4 million. The highly reputed hardware wallet manufacturer sold more than one million devices in 2017.
Cyber attacks have become an everyday phenomenon and crypto-hackers are getting more and more sophisticated. Online storage has proven to be more risky than cold storage. As a result, hardware wallets have become more popular.
According to Pascal Gauthier, Ledger’s president, it is the shortage of safe platforms for users regarding signing transactions on the blockchain that explains the increased demand for Ledger Nano S and other hardware wallets.
“Blockchain itself is secure, but signing on the blockchain is a flaw. If you lose the [private key], there’s no bank looking after your assets or any way to recover them.”
During the last couple of years, security gaps, hacks and lost private keys have caused crypto-investors millions of dollars worth of crypto-currencies.
Ledger Nano S not only promises but has also proven to be the solution to potential hacking attacks and to private key loss by enabling users to securely save wallet codes without involving internet use.
Btcmanager.com adds: „Although similar to hardware wallets such as Trezor and Secalot, the flexibility and security that comes with Ledger Nano S have however made it the crypto wallet of choice for a vast array of holders. Ledger Nano S wallets have seen an almost instantaneous success, with captains of industries and hedge fund managers making it a part of their accessories. With the massive acceptance, Gauthier got inspired to create something for the big players in the cryptoverse with Ledger Vault and another security-focused product still in the works.”
Gauthier says that clients were literally queueing outside their office to buy Ledger Vault when it was launched. The milestone storage product is a “multi-user software product with Nano S-style hardware keys,” which means that people in a family office or a larger business group can use one single crypto wallet with the option of setting different permissions and access levels.
BTCManager recently reported that Ledger, in collaboration with Nomura, a Japanese financial firm, and Global Advisors would soon launch Komainu, a business venture with the purpose to enable financial institutions and large cryptocurrency investors to keep their crypto assets in a vault system designed by Ledger and controlled by Nomura.
So, Ledger has managed to stay on top of the game and is looking into the future with courageous ambitions.