Blockstream Jade’s Popularity Increases as Investors Are Ditching Ledger

  1. Ledger’s competitors are ramping up their efforts to nab Ledger’s previous customers.
  2. Bitcoin-only wallet Blockstream Jade is offering 10% off, while Trezor wallets are on a 15% discount.
  3. Ledger’s social media team appears to be mum since May 18. 

In the wake of hardware wallet maker Ledger’s public relations disaster, more cryptocurrency investors are abandoning their crypto wallets in favor of other alternatives. 

As expected, the leading option is Trezor, which has long been Ledger’s top competition. However, other alternative wallet makers are ramping up their efforts to nab Ledger’s previous customers.

One alternative is Jade, Blockstream’s own Bitcoin (BTC) wallet. Similar to Ledger, Blockstream Jade is also a hardware crypto wallet, although it only supports BTC. Many Bitcoin investors are now flocking to Jade.

Other popular hardware wallet companies are also offering discounts to take over the market. For instance, Trezor has offered a 15% discount until today, May 21, while Blockstream Jade and BitBox wallets are cheaper by 10%.

In addition, all other hardware wallet manufacturers are emphasizing their open-source framework. 

It is safe to assume that this is so that the Ledger FUD may not spread to their customers. For context, Ledger is not open source, which is why the hardware wallet maker required trust from customers. This is the issue that Ledger is facing, aside from the recent Ledger Recover debacle.

Ledger has yet to reveal its next plan, whether to continue with Ledger Recover or not. Since May 18, Ledger has been mum on Twitter, which others have jokingly interpreted as the social media staff has been fired for their fiasco of a now-deleted tweet saying that the hardware wallet creator can indeed deploy firmware and extract its customer’s private keys. 

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Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.