- 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.
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).”
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