Ledger Stax Review: Top Hard Wallet Of Next Generation In Summer 2024?
As cryptocurrencies wallets evolves and their adoption increases, over the years new wallets have been created. The main weapon to protect your digital assets is a cold wallet, which is a very powerful touchscreen tool to stay safe against online theft threats.
In this article we are reviewing the Ledger Stax wallet by exploring the features and functionalities of the next-generation must-have cold wallet that will begins shipping to pre-order customers and set to reopen orders on Summer 2024.
What is the Ledger Stax Cold Wallet?
The Ledger Stax crypto wallet is the latest web3 security solution designed to keep your digital assets safe offered by the industry leader in Digital Asset security for customers and enterprises Ledger. As of us writing this review, individuals can't pre-order yet the wallet BUT will be able to do it on this Summer 2024 while today 28th May 2024 Ledger announced the start of the shipping of its innovative secure touchscreen device, for the already pre-ordered devices.
Who is behind Ledger Stax?
Ledger Stax its a product made by Ledger-- a fast paced, growing company developing a variety of products and services to enable users and companies to securely buy, store, swap and manage their digital assets. Ledger teamed up with Tony Fadell, inventor of the iPod® 1, to bring clarity and confidence to signing transactions and securing your digital value. Ledger Stax TM is a usable way for you to take control of cryptocurrency and digital value. It’s built on uncompromisingly secure architecture, and introduces a unique form designed for unprecedented accessibility and interactivity.. Ledger has also created:
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Ledger Live, the leading omni-chain companion app, enables users to connect seamlessly with their Ledger device. Ledger Live is the most secure way to buy, sell, swap and earn yield on your crypto, integrated with global third-party service providers such as Moonpay, Coinbase, PayPal, and Lido.
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Ledger Enterprise, is a branch of the Ledger company dedicated to businesses, which helps hundreds of digital assets exchanges and corporations to leverage their digital value with the proper governance and security frameworks.
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Ledger Nano X, the most iconic cold wallet designed to keep your digital assets safe.
How Does Ledger Stax Work?
Ledger Stax stores your private keys offline on a Secure Element chip, and provides full isolation between the keys and your computer/smartphone to give you complete control over your assets. Ledger Stax is an hardware wallet which comes with an external app available for multiple platforms such as your smartphone and your laptop and within multiple operating systems like iOS, Windows, Mac and Android. Later we will go in depth on how to setup your Ledger on any of devices mentioned above.
Ledger Stax Supported Coins
With Ledger’s crypto wallet users can store over 10,000 coins and tokens on more than 70 blockchains. This includes the best cryptos like Bitcoin, Binance Chain, Ethereum, Solana, Dogecoin and more. With Ledger Stax you install the blockchain app you want – via the Ledger Live app – and then store all tokens on that particular blockchain without the need of any technical knowledge. Also with Ledger Stax you can interact with approximately 200 dApps have been integrated into the Ledger ecosystem.
For example, within your Ledger Stax you can install the Ethereum app, to safely and seamlessly store any of the thousands of tokens from the Ethereum blockchain, such as ETH, SHIB, TMC, RNDR, CGPT, USDT and SAND. You can repeat the same exact process for any type of blockchain ecosystem you want. It’s fundamental to understand that not all coins or tokens are supported directly in the Ledger Live app, but you can still safely store them in your Ledger Stax.
Is The Ledger Stax Safe?
The Ledger Stax crypto cold wallet is the latest next-generation wallet and it's realized with the help of Tony Fadell inventor of the iPod and it's most safe wallet coming backthis Summer 2024 that can get to safeguard your digital assets and stay protected against the malicious attacks online for the day-to-day use of your crypto & NFTs with clarity and comfort.
Industry-Leading Safety With Software and Hardware
The Ledger Stax hard wallets contain a secure element chip called CC EAL 6+ certified Secure Element and a proprietary operating system called BOLOS (Blockchain Open Ledger Operating System). The first element is designed and built to isolate cryptographic transaction signing from the rest of the wallet, thus to minimizing points of failure. The BOLOS software, on the other hand, is an element what gives the Ledger Stax multi-chain support. Because of that, you can install various blockchain apps and store a variety of promising cryptos and NFTs in your Stax available on the Web3.
PIN Protection and Physical Buttons
To access your Ledger Stax wallet, you need first to enter a PIN combination of up to eight numbers that you can enter only three times otherwise you will need to reset your Ledger and re-enter your secret-phrase. What further increases your protection accuracy is that all the numbers are laid out from zero to nine on your OLED screen and you have to press the physical buttons to get to each number. Once you select a number, the device randomly jumps from the selected number to another number, making it impossible for anyone trying to figure out your PIN by looking at how you press the buttons. Once you access your Ledger Stax, select which blockchain app to use if you have multiple installed. Every time you make a transaction on the blockchain, you will have to sign it by pressing both buttons. This means, no one can drain your account unless you physically approve the transaction.
Bluetooth Security
Some users worry that the Bluetooth connection is a point of failure that hackers can exploit. However, the Bluetooth connection on your Ledger Stax wallet is securely encrypted end-to-end. Ledger is constantly updating their firmware to patch potential vulnerabilities. Check always the Ledger Live app from time to time and update your Ledger Stax wallet if there’s an update waiting for you.
Is Ledger Stax Easy to Use?
The Ledger Stax wallet is easy to use whether you’re newbie or pro in crypto. The setup process is straightforward, and once you’re done – you can start store your cryptocurrencies into your cold wallet for safekeeping. If you want to actively manage your Web3 portfolio by swapping coins, staking or yield farming on decentralized applications, you can do so through the Ledger Live app or by connecting your Ledger Stax wallet with other wallets like MetaMask and use it a proxy.
One feature that makes the Ledger Stax hard wallet easy to use on mobile is the Bluetooth connection. If you’re using a mobile device like an iPhone or an iPad, this is the only way to connect and manage your portfolio on your mobile device. Android users can use either the Bluetooth connection or by connecting via a USB cable. The Ledger Stax app, called Ledger Live, confer ease of use of the hardware wallet. Everything you need to do can be done via the Ledger Live app, including updating your wallet’s software, adding new blockchain apps, staking coins, swap between blockchains and even buying supported coins.
Stand-Out Features of the Ledger Stax Wallet
Our thorough Ledger Stax wallet review goes through all the features that make this one of the best hardware wallets you can get.
Unparalleled Security
The combination of a secure element chip and a custom operating system is the basis of the Ledger Stax security. This means you can make cryptographic transactions and other operations – even by using a Bluetooth connection – without exposing your private keys online. Moreover, there’s a PIN combination that locks your device. Even if someone gets a hold of your Ledger Stax, without the PIN, they won’t be able to access it.
User Experience
Ledger Stax Setting up the device takes a few minutes with four simple steps. This makes it easy to onboard anyone into crypto, even beginners. Once you’ve set up your device, you get access to an industry-leading companion app where you can manage your portfolio, purchase new coins, stake them or swap them, and even access decentralized apps on various blockchains. Add in the Bluetooth connection, and you’ll be able to manage your crypto portfolio on the go by connection to your mobile device.
Ledger Crypto Card
The ussers who wants to fully own their assets while still having access to traditional payment methods will likely find the CL Card incredibly useful. Baanx (a fintech company) provides the card, but it’s only available to UK and EEA customers.
The crypto card lets you spend your cryptocurrencies or use your crypto as collateral with rates that start from 0% of commissions. On top of that, there are cashback rewards of 1% for Bitcoin and USDT and 2% for the BXX token, depending on which crypto you decide to use. With the CL card, you can use your crypto everywhere where a card is accepted as a payment method. Unlike traditional banks that can freeze your assets, the CL Card provider can’t touch your digital assets as they are stored on your Ledger Stax wallet, and you are the only one who has the keys.
Integration With Third-Party Wallets
If you have already used hot wallets like MetaMask for Ethereum and its Layer 1 blockchains, or Backpack and Phantom on Solana, you can connect your Ledger Stax wallet to either of these and use these wallets to connect to decentralized apps and act as a user interface for the assets stored on your Ledger device. For our Ledger Stax wallet review, we connected a Ledger Stax wallet with MetaMask. Here's how to do it:
- Select the "Account" tab in your MetaMask wallet.
- Select "Add Account or Hardware Wallet".
- Plug your Ledger Stax into your computer.
- Select "Ledger" from the options.
- Follow the prompts. You can now easily manage all of your Ethereum coins, tokens, and NFTs directly from MetaMask while they are stored on your Ledger Stax.
Customer Support
The Ledger company has one of the best customer support services in the industry. The support team is available for contact via email, social media or live chat, whichever you prefer. There’s no phone option, but that’s not a problem given the responses and solutions you get are fast. And if there’s a problem with your Ledger Stax wallet, say your Ledger got an issue like the battery has died, Ledger will ship you a replacement device free of charge.
If you are interested in the Ledger’s social media accounts, these are the main channels you can check:
- Ledger Support on Twitter
- Ledger on Reddit
- Ledger on Facebook
- Ledger on Instagram
- Ledger on TikTok
How to Use Ledger Stax
If you're wondering how to set up your Ledger Stax hardware wallet, follow these steps:
Step 1. Download the Ledger Live App on a Device You will need to download the Ledger Live app from Ledger's official website. You can find it under the "Apps and Services" navigation menu. Install the app and go to "Get Started". Select the Ledger Stax device from the options. Follow the indications.
Connect your Ledger Stax to your computer. Ensure that no one can read the words on your Ledger's OLED screen. Read the first two messages on your Ledger Stax and select the option "Ledger Live Desktop" if you are setting up the Ledger Stax on your computer. Otherwise, select "Ledger Live Mobile".
Choose between four and eight digits to set up your cold wallet PIN. Choosing an eight-digit PIN will make your device more secure. The numbers on the screen of your Ledger Stax will appear in a random sequence.
Step 3. Write Down Your Recovery Phrase Use the recovery sheets that come in your Ledger Stax package to write down your secret 24-word seed phrase. Never take a screenshot and never write it down on your computer. If your computer is compromised and someone finds your seed phrase, consider your assets gone. Now verify the recovery words on your Stax device. Once that's all set up, open the Ledger Live app. You can also change the Screen Lock settings when you have finished setting up your recovery phrase.
Step 4. Install Blockchain Apps Ledger Stax comes with its own Blockchain apps. In your Ledger Live app, click on "Install now". If you're wondering how to transfer your cryptocurrencies to your new Ledger Stax cold wallet, simply create a new wallet on the blockchain you want, for example, Bitcoin, and then copy the address. Use that address as a receiving address on a crypto exchange or another wallet. To ensure all is good, try it first with a smaller amount.
Is Ledger Stax a Good Buy in 2024? Our Verdict
Our detailed Ledger Stax review reveals it to be the top contender for the best hardware wallet in 2024. With support for over 5,500 cryptocurrencies, tokens, and NFTs, you can control your entire portfolio directly on your mobile device via Bluetooth or through your computer. Ledger Live, the user-friendly companion app, even allows you to stake your assets and seamlessly purchase new crypto assets.
Whether it be coins, tokens or NFTs, in the ever fast-pacing Web3 protecting your digital assets is the most important step and it costs just $149 for the Ledger Stax, a small price to pay for the peace of mind.