Tony Fadell, the creator of the iPod, has designed a new hardware wallet for people to store their cryptocurrency.
The product launched yesterday at French startup Ledger’s annual Ledger Op3n event, coming at a time when trust in centralized crypto platforms is fading as a result of the collapse of Sam Bankman-Fried’s FTX.
The hardware wallet is called Ledger Stax, and it resembles a small smartphone or credit card reader. It weighs less than an iPhone and is roughly the same length and width as a credit card.
It sports a black-and-white E-ink display, similar to that of Amazon’s Kindle e-readers, and contains magnets so that multiple devices can be stacked on top of each other, like a pile of books or cash — hence the name.
On the Ledger Stax, users can deposit or exchange a range of tokens, including Bitcoin, ether, cardano, solana and NFTs. The product connects to laptops through a USB cable or phones via Bluetooth.
The product is available for preorder, retailing at $279. The company has already sold more than 5 million devices to date, and said the Stax will start shipping in the first quarter of 2023.
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