Ledger launches Ledger Flex, a mid-range hardware crypto wallet

Ledger, a French startup mostly known for its secure crypto hardware wallets, has launched a new mid-range device called the Ledger Flex. Currently on sale for $249, the tiny hardware wallet features an E-Ink display for navigating the interface and confirming transactions with a tap.

Like all of Ledger’s wallets, Ledger Flex is built around a secure element where your wallet’s private keys are securely stored. This means that even if your computer or phone is compromised, your crypto assets are safe as they cannot leave your wallet without the private keys.

The alternative is to store your assets on a centralized cryptocurrency exchange like Binance, Coinbase, or Kraken. In this case, they hold the cryptocurrencies on your behalf. It’s easier to use, but exchanges can be hacked or disappear overnight. We’ve seen this with FTX, Mt. Gox, and countless other exchanges, big and small.

Ledger customers manage their wallets using the company’s companion app, Ledger Live. This app can be used on computers or mobile phones. It allows you to access your public keys, connect to various web3 services, and initiate transactions. Ledger devices are also compatible with a variety of 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 you have, the transaction details will appear in your Ledger wallet with the amount and recipient. After double-checking that everything looks correct, you can confirm the transaction directly on the Ledger device. 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 USB key-shaped hardware wallet with a tiny black-and-white screen and two physical buttons. The company still sells wallets in this form factor with the Ledger Nano S Plus and 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. So Ledger created the Ledger Stax, a high-end crypto wallet designed in partnership with Tony Fadell. It has a curved E-Ink display that has created industrial challenges and caused some delays — the company is currently processing pre-orders for that device. The Ledger Stax is also expensive, costing $399.

The Ledger Flex is designed to be a cheaper version of the Ledger Stax with some compromises. The most obvious difference is that it has a flat E-Ink display, meaning it will be easier to produce at scale.

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Apart from that, the screen is a bit smaller, the body of the device is made of plastic, and there is an aluminum piece at the bottom of the device that acts as an accent. The device has a physical button that acts as a sleep/wake button and a USB-C port for charging.

Just like the Ledger Stax, the touchscreen interacts directly with the secure element on 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, you can use the Ledger device as a security key by tapping it, thanks to its built-in NFC capabilities. However, for laptop use, you will need to use a USB cable.

Unlike the Stax, there’s no long pre-announcement for the Flex — it’s shipping as of today. Its mid-range price point means it falls into Ledger’s range below the Stax, $150 cheaper than the foldable premium wallet, but still above the existing Ledger Nano X and Ledger Nano S Plus (which cost $149 and $79, respectively).