- Last week, Ledger announced a significant increase in purchases.
- Unlike software wallets, hardware wallets are usually immune to internet assaults.
- The crypto community has been told by Ledger that FTX does not own the wallet.
Ledger, a hardware wallet manufacturer, announced a significant increase in purchases last week. This comes as people flocked to self-storage alternatives to protect their digital assets.
Read CRYPTONEWSLAND on
google news
Notably, Users’ private keys are safely saved offline in hardware crypto wallets. Unlike software wallets, they are usually immune to internet assaults. However, they aren’t completely secure and have been targeted by phishing attacks in the past.
Nonetheless, the present market is unregulated where lenders and centralized exchanges with opaque finances may and do seize or mishandle people’s assets without warning. Many have hence regarded gadgets like Ledger as steps far above the options.
Last week’s sales results support this. CEO Pascal Gauthier confirmed recent reports that the firm had enjoyed a hefty uptick in sales.
Trezor, Ledger`s main competitor also recorded an uptick in price as noted by Joseph Tetek, a Bitcoin analyst at Trezor. He said that the wallet manufacturer had “indeed seen an exponential increase in sales since November 7.”
“While we welcome the surge in interest in self-storage solutions, we are not happy that the current surge in demand is the result of a massive loss of funds on FTX,” he added.
The Senior crypto reporter at TechCrunch & co-host of chain reaction, Jacquelyn Melinek, has also confirmed Ledger`s reports. She says that amid the FTX collapse, last week was the company’s biggest sales week ever.
In other reports, Ledger has assured the crypto community that FTX does not own the wallet. In a tweet, “FTX owns companies called LedgerX and Ledger Prime, but these are separate entities from us (Ledger SAS).”
Recommended News :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
