Ledger, a French startup mostly known for its secure crypto hardware wallets, has launched a new mid-range device, the Ledger Flex. Available now, priced at $249, the dinky hardware wallet features an E-Ink display to navigate the interface and approve transactions with a tap.
Like all of Ledger’s wallets, the Ledger Flex is built around a secure element where the private keys of your wallet are safely stored. It means that even if your computer or phone is compromised, your crypto assets are safe as they can’t leave your wallet without the private keys.
The alternative is storing your assets on a centralized cryptocurrency exchange, such as Binance, Coinbase or Kraken. In that case, they hold cryptocurrencies on your behalf. It’s easier to use, but exchanges can get hacked or disappear overnight. We’ve seen it with FTX, Mt. Gox and countless other exchanges, big and small.
Ledger customers manager their wallets using the company’s companion app, Ledger Live. This app is available on computers or mobile phones. It lets you access your public keys, connect with various web3 services and initiate transactions. Ledger devices are also compatible with several third-party software wallets in case you want to add an extra layer of security to your existing wallet.
When you want to send crypto assets to another person or another wallet that you hold, the transaction details appear on your Ledger wallet with the amount and recipient. After double-checking that everything looks correct, you can approve the transaction on the Ledger device directly. If you lose the hardware, you can recover the crypto held in the wallet using a secret recovery phrase.
Ledger’s original wallet was a hardware wallet shaped like a USB key with a tiny black-and-white screen and two physical buttons. The company still sells wallets in that form factor with the Ledger Nano S Plus and the Ledger Nano X. The Nano X can connect to your phone using Bluetooth so it’s easier to use with Ledger Live on mobile.
But the company wanted to build something easier to use, which meant adding a touchscreen. That’s why Ledger built the Ledger Stax, a high-end crypto wallet designed in partnership with Tony Fadell. It has a curved E-Ink display, which has created industrial challenges and caused some delays — the company is now processing pre-orders for that device. The Ledger Stax is also expensive as it costs $399.
The Ledger Flex is designed as a cheaper version of the Ledger Stax with some compromises. The most visible difference is it has a flat E-Ink screen, which means it’ll be easier to manufacture at scale.
Other than that, the screen is a bit smaller, the device body is made out of plastic with an aluminum part at the bottom of the device that acts as an accent. There’s a physical button on the device that acts as a sleep/wake button and a USB-C port to charge it.
Just like on the Ledger Stax, the touchscreen interacts directly with the secure element in the device. The Ledger Stax can also replace a YubiKey as customers can also use it as a security key for two-factor authentication. On a phone, thanks to built-in NFC capabilities, you can tap the Ledger device to use it as a security key. However, you have to use a USB cable for laptop usage.
Unlike the Stax, there’s no lengthy pre-announcement for the Flex — which is shipping from today. Its mid-tier price point means it slots into Ledger’s range below the Stax, being $150 cheaper than the curvy premium wallet, but above the Ledger Nano X and the Ledger Nano S Plus, which remain available (costing $149 and $79 respectively).
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