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Sarah Gottwald

Managing Director at Blockchain Founders Group (BFG)

Why are cryptocurrency wallets important in the Web3 context?

Cryptocurrency wallets play an important role in the Web3 context due to their ability to provide users with control over their funds and digital assets. You need to differentiate between hot wallets (e.g., exchanges) and cold wallets.

Pros

  • A brand-new design
  • Industry-leading security
  • Coin, token and NFT storage
  • High levels of customizability
  • Very simple to use

Cons

  • Long waiting times for pre-orders
  • Above-average price point

Ledger Stax Review: PROS

As per usual, we’ll start things off by looking at the main features and benefits that you can expect to receive by using this brand-new crypto storage solution from Ledger. And, you probably don’t even need to read through different Ledger Stax reviews in order to see the very first, key feature of the wallet - a revamped design.

A Completely New Wallet Design

If you’re familiar with Ledger wallets, in general, you probably know that, since the flagship Nano S, the wallet featured a rather unique and memorable design. To be a bit more specific, Ledger devices always resembled a USB flash drive - this was both unique, as well as quite practical, since potential thieves could have mistaken it for a simple USB stick, and would thus not have any fishy ideas.

Well, as far as this Ledger Stax review is concerned, I would dare say that Ledger has decided to innovate, and turn away from their iconic design.

The Ledger Stax wallet resembles a sort of a miniature iPod device. That’s not really surprising, though, when you consider the fact that the wallet was designated by the creator of the original iPod himself, Tony Fadell.

Ledger Stax review: Ledger Valentine's day special.

The unequivocal experience of the designer is quite evident, when you take just a single look at the brand-new wallet in question - the Ledger Stax features a touchscreen, as well as a curved E Ink® edge design. The wallet is sleek, and made to fit the modern-day standard of an aesthetic piece of technology.

Aesthetics are just a single part of the equation, however, and arguably a small one, at that. This innovative design is also very functional.

One of the bigger complaints that people had with Ledger’s other wallets (something that might come up in user Ledger Stax reviews, too) was that the screen was far too small. The company tried to improve this with the Nano X, and, to an extent, was rather successful in doing so.

Ledger Stax review: the Ledger Stax wallet.

The Stax, however, takes it to a whole new level. With a comparatively large display, you’ll be able to both manage your cryptocurrencies with ease, as well as view and work with any NFTs that you might own, too.

Size-wise, the wallet should fit in the palm of your hand quite nicely, and is as thick as “around five credit cards, stacked up”. This allows for the wallet to still remain quite discreet, and for you to hide it rather easily, if need be.

All in all, while the looks of the wallet can certainly be boiled down to personal taste, there’s no denying that the wallet is very innovative, and that the company is certainly keen on exploring some bold design choices. As far as this Ledger Stax review is concerned, I see that as a definite win!

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Over 5000 Supported Coins & Tokens

Crypto asset support is undoubtedly one of the most important features that a wallet can possess. This is especially so true in this day and age, when there are countless different coins & tokens out there, on the market. Industry newcomers today tend to jump into the deep end of things, and diversify their portfolios from day one.

Sure, you could go ahead and keep your assets in different wallets - on the one hand, this might actually be the smarter thing to do, security-wise. On the other hand, though, if convenience is what you strive for, then token support can prove to be an even more important aspect to look into.

Thankfully, it’s also not one that you’d need to worry about, when it comes to this Ledger Stax review - the Ledger Stax supported coins go over 5000 different crypto coins & tokens!

Ledger Stax review: supported assets.

That’s an incredibly big number! It covers a huge variety of some of the most popular coins on the market, as well as a myriad of tokens (i.e. ERC-20), and even NFTs (we’ll talk about this aspect, specifically, a bit later).

To put it in other words, there’s a pretty good chance that the Ledger Stax wallet alone will be able to house all of the different assets that you might hold and acquire. Unless you’re planning on trading some very niche, specific cryptocurrencies, the list of the Ledger Stax supported coins should satisfy all of your wants and needs!

One last point to keep in mind in regards to this very topic is the fact that Ledger is constantly adding new coins and tokens to that list. So, with time, you can expect that number to only grow, even further!

Industry-Leading Security Features

I probably don't really need to tell you this, but security should always be at the forefront of your mind, whenever you’re dealing with anything crypto-related. This is especially true in regards to crypto wallets - once again, this is rather self-explanatory.

With a significant number of high-profile crypto platforms going under in the past few recent years, it’s no secret that everyone is a bit “on edge”, when it comes to the topic of securing their assets. Brands like Ledger understand this, and thus, strive to provide their customers with only the highest-level features and services.

And, in the realm of crypto wallet safety, there are very few products that exceed the hardware devices offered by Ledger. Reading through the initial user Ledger Stax reviews, you’ll quickly learn that the Stax features the same (improved, even!) level of security as the brand’s other wallets.

Ledger Stax review: trusted by millions.

For starters, if you’re wondering is Ledger Stax safe, you’ll be happy to hear that this wallet utilizes Ledger’s Secure Element chip. It’s a Ledger-exclusive security chip that provides additional safety measures over those offered by your standard crypto wallet chips.

Next up, the Ledger firmware undergoes constant updates and improvements, in-line with the industry trends and any news that might come out regarding relevant security upgrades. This means that, even though you would still need to connect your wallet to Ledger Live and update it, Ledger takes care of the hard part for you.

Ledger Stax review: the different features of the Stax wallet.

Then, you have your ‘standard’ security features, that you’d come to expect from any high-end cryptocurrency wallet product - PIN codes for direct wallet access, secret keys and phrases, transaction confirmations, and so on.

On top of all of that, as well as many additional, smaller features, you then have third-party audits and penetration testing. The company's security features and systems are periodically tested by knowledgeable and accredited third parties - this puts all of that theoretical safety into practice, and reveals the true level of security that the wallets employ.

All in all, if you’re worried about is Ledger Stax safe, you can rest assured - it’s going to be as secure as any other product offered by Ledger!

NFT Support - Enabled!

I’ve mentioned this a couple of times in my Ledger Stax review already, but it’s a topic that deserves a separate subchapter, in and of its own.

While the popularity of NFTs - non-fungible tokens - appears to be an even more volatile thing than crypto, as a whole, there’s no denying that these specific tokens are still very sought-after.

This is even more so true when you consider that the number of use cases for NFTs is growing and expanding, each day. Just take NFT domains, as an example - it’s a rather fresh concept, and one that’s only growing in popularity, with time!

Ledger Stax review: additional features of the Stax wallet.

All of that is to say - same as you'd need to store your crypto coins & tokens in a designated wallet, NFTs require safe and reliable storage solutions, too. Reading through user Ledger Stax reviews, you’ll quickly learn that this particular wallet *can* serve NFT storage functionality, as well.

Not only does the Stax wallet allow you to store different NFTs within, but it also has advanced features, such as your favorite NFT showcase on the lock screen. The wallet is very customizable, in this regard - on an unrelated note, you can even add a name to it, which will also be showcased on the aforementioned curved edge!

Back to my original point, if you’re an avid NFT collector, or you’re just planning on checking the latest non-fungible trends out, you can rest assured that you’ll be able to store most of your tokens within the Ledger Stax.

Built With Simplicity In Mind

If you’re a veteran in the crypto space, it’s pretty likely that you’ve become numb to many of the details and news pieces that come out regarding the industry. However, taking a step back, and looking at it from a more general perspective, one thing becomes rather evident - the fact that crypto is only growing in popularity.

The more popular something is, the more people it attracts - people who have never interacted with the space!

All of that is to say - if you’re a newbie in the industry, things can get really confusing, fast. Crypto service and product providers know this, and thus, aim to create their products / services in a beginner-friendly and simple-to-understand manner.

Ledger Stax review: the simplicity of the Stax wallet.

As far as this Ledger Stax review is concerned, the product in question is no different!

Ledger Stax is a very intuitive and simple-to-navigate-through device. Unlike many old crypto wallets, the Stax focuses on displaying all of the important information in a detailed and user-friendly manner, via its large display screen.

This is especially true when it comes to the topic of transaction signing. Evidently, it’s one of the most important aspects of any crypto wallet - if this process is confusing, and you end up not really knowing what you’re doing, it can lead to a loss of funds. Not an ideal scenario to find yourself in.

If you’re still considering is Ledger Stax worth it, this might be the determining factor - the Stax makes transactions very simple to manage, and display all of the relevant information (including the confirmation steps) in a beginner-friendly way.

In addition to the above-mentioned point, it’s worth emphasizing that the Stax employs simplicity and ease of use in all aspects of its operations and working model. If you’re a newbie in the field, and are looking for a high-end device that would not only protect your crypto, but also allow you to navigate the market at your own pace, the brand-new product from Ledger is certainly worth considering!

Full Ledger Live Connectivity

If you own any of the already-existing Ledger wallets, you’re probably well-familiar with Ledger Live. For the people who are reading this Ledger Stax review as their first encounter with the brand, let me fill you in - it’s a dedicated user interface that all owners of said wallets would use to manage and take care of their crypto.

Truth be told, as the crypto storage industry advances, there are more and more well-designed UIs coming out. Even so, Ledger Live remains one of the most user-friendly and simple-to-navigate user interfaces on the market!

Ledger Stax review: Ledger Live showcase.

On it, you can view your portfolio, as well as track its performance. You’ll be able to browse through different accounts that you’ve created (be it for different assets, or simply - different wallet addresses), participate in earning opportunities, purchase over 50 different cryptocurrencies (straight from your wallet!), and so on.

All in all, it’s a superb piece of software. The point here, however, is that the Stax will work perfectly well with Ledger Live.

While this is something that you’d come to expect, in general, it’s worth emphasizing that you’ll be able to browse through and easily send funds from an already-existing Ledger wallet that you might own, to the Stax. While both wallets can’t be used at the same time, with the Ledger Live interface, the process of transferring funds will still be simple to perform!

Ledger Stax Review: CONS

With all of the big features and benefits of the wallet discussed and out of the way, a Ledger Stax review wouldn’t really be complete without mentioning some of the drawbacks that are associated with this product, be it directly or indirectly.

Naturally, due to the fact that the Stax still isn’t out for the general public to use yet, there isn’t much information about the ‘negative’ features of the wallet, online. That being said, however, probably the biggest gripe that some potential customers have at this point in time has to do with just that specific fact.

Long Pre-Order Periods

If you were to visit Ledger’s official website, right now, and went to purchase the Stax wallet, you’d quickly notice that it’s not exactly something that can be done, at his point in time. The wallet is currently in a “pre-order” stage.

That said, as with many other products, the pre-orders happen in specific, segmented rounds. The current round if filled, and thus, pre-orders are closed until further notice.

If you managed to jump into the list early, and have pre-ordered your Ledger Stax wallet, the ETA for delivery is sometime in the Summer of 2023. With it currently still being the beginning of the year, that’s a long period of time to wait for your new crypto wallet!

Ledger Stax review: Ledger Live support.

Those who didn’t manage to pre-order their Stax in time are in an even worse situation. There’s no specific date when the next batch of pre-orders is going to open, but there’s a pretty high possibility that it won’t be until the latter half of Summer. This only concerns pre-orders, mind you - not wallet delivery. So, after placing your order, you would need to wait even longer.

Just how big of a con this is will depend on your own, personal situation. If you already have a reliable cryptocurrency wallet, and are simply looking to upgrade, or perhaps are interested in the technological marvel that the Stax promises to be, it’s probably not that big of an issue. Sure, waiting for so long can be annoying and frustrating, but it won’t really affect the safety of your crypto assets.

Ledger Stax review: comparing the hardware specs of all three Ledger wallets.

On the flip side, if you’re looking for your first wallet, have a tight budget, and want the maximum possible security, then it’s a different story. Sure, you could go ahead and purchase a different wallet, for the time being, but the costs would really add up (more on that later).

At the same time, you *could* also use a free software wallet, in the meantime, or hold your crypto assets on an exchange account. This, however, isn’t the best course of action if you want the maximum possible security.

So, in the end, you’re faced with a bit of an awkward conundrum. Surely, it’s not really a dealbreaker when it comes to the wallet itself, and you don’t need to question - is Ledger Stax safe? That said, it can still be a big inconvenience, nonetheless.

An Unmistakeable Design

That’s an odd way to name a ‘con’, right? Well, that’s because this feature can serve as both a positive and a negative, as well.

We’ve already discussed the positive side of things, earlier in the Ledger Stax review. The wallet is definitely unique, and looks very modern & stylish - this is thanks to the genius of Tony Fadell, as well as the rest of the development team behind the project.

On the flip side, however, you will find many people arguing that this isn’t really a set of features a crypto wallet should possess. Specifically, if a cryptocurrency wallet looks cool and unique, anyone who sees it will immediately know what it is. This creates a lot more potential for it to become a target for theft.

Ledger Stax review: secure and manage all of your coins, tokens, and NFTs, with Ledger Live.

If you think that this is a trivial point, I urge you to think about the already-mentioned older wallets offered by Ledger - the Nano S Plus, as well as the Nano X. Both of these devices look like USB sticks - while they do, obviously, have unique visual features, if you were to just glance at the devices from afar, you wouldn’t really be able to tell the difference.

This is something that becomes important if you plan to take the wallet with you, to a public place. It’s not something that you SHOULD do, in the first place, but hey - life happens, and sometimes, situations like these are unavoidable.

Ledger Stax review: all three Ledger wallets, compared.

In that case, though, it’s still crucial to employ all of the common sense safety practices - try not to flaunt your wallet around, keep it in your pocket, don’t tell anyone that you have it, and so on.

An unassuming design would certainly help with these efforts - unfortunately, it’s not something that the device in question possesses.

Now, it’s worth acknowledging that, same as with the earlier-mentioned issue, this is as much of a con as you’ll make it out to be. Ledger themselves promote the design of the Stax as a positive overhaul - and, in a very general sense, it certainly is! If you’re positive that you can keep your wallet safe, then this point can likely be disregarded, altogether!

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Price

To finish off our Ledger Stax review, we do still need to talk about the price of the product in question. Evidently, this aspect is sometimes also viewed as a sort of a con, in and of itself.

Why is that the case? Well, the Ledger Stax price is €279. That’s an expensive hardware wallet!

Obviously, some people aren’t going to have this amount of money to dedicate to a brand-new crypto storage product. The steep Ledger Stax price point becomes even more evident when you consider the prices of the older Nano S Plus and the Nano X - them being €79 and €149, respectively.

Ledger Stax review: the price tag of the Ledger Stax.

Are there more expensive hardware wallets on the market? Yes - wallets that are actually much older, and lack a huge amount of functionality offered by the Stax. That said, if you have a set budget, this point will likely come off as trivial.

On the flip side of things, the Ledger Stax does come with free shipping, so you’ll certainly save some money there. All in all, regarding the question “is Ledger Stax worth it?”, it really depends on how much it is that you’re interested in the latest tech in crypto, as well as your passion for the security side of the industry.

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Conclusions

So, to wrap things up, what’s the conclusion here - is the Ledger Stax wallet something that you should be excited about and look into, or are you better off looking for alternatives?

Well, one thing’s for sure - the Stax is certainly a technological marvel, and a huge step in crypto-related tech! The wallet is definitely unique, and comes equipped with a huge variety of features and benefits.

Naturally, a lot of things - both positive, as well as negative - are going to become much more clear when the product rolls out, and people actually start using it. The only notable negative aspects that are currently associated with the product would have to do with long pre-order waiting times, as well as the fact that the wallet isn’t exactly discreet, in its design.

If you’re in need of a crypto storage solution ASAP, and aren’t keen on waiting for the Stax to come out and reach your mailbox, there are other alternatives that you could look into, right now. Even when it comes to Ledger, there are two additional wallets that are top-tier in their design, as well as security features & general functionality. These are the Nano S Plus, and the Nano X - check them out!

With all of that said, thanks for reading, and until next time!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

About Article's Experts & Analysts

By Sarah Gottwald

Managing Director at Blockchain Founders Group (BFG)

Sarah Gottwald's experience as a venture capitalist includes working at Vanagon Ventures, a firm specializing in Web3 / blockchain startups. She is also the managing director of Blockchain Founders Group, a venture capital firm and company builder...

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms...
Aaron S., Editor-In-Chief
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
Sarah Gottwald, Managing Director at Blockchain Founders Group (BFG)
Sarah Gottwald's experience as a venture capitalist includes working at Vanagon Ventures, a firm specializing in Web3 / blockchain startups. She is also the managing director of Blockchain Founders Group, a venture capital firm and company builder. BFG offers Web3 startup incubation, network, knowledge, and funding. Furthermore, Sarah Gottwald hosts a podcast BLOCKTALES - Unchained Stories. It is dedicated to exploring the lives of people behind blockchain technology. She is also a member of the board of the ITSA (International Token Standardization Association).

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FAQ

What is the Ledger Stax?

Ledger Stax is the brand-new hardware cryptocurrency wallet offered and sold by the industry giant - Ledger. The Stax features a complete exterior design revamp (when compared to other wallets sold by the brand), as well as improved usability features. The wallet comes equipped with a large display, wireless charging, Bluetooth connectivity, and multiple additional features that are important to any reliable crypto storage solution. On top of that, the Ledger Stax supported coin list goes over 5000 assets, when connected with external wallets.

Where can I buy Ledger Stax?

The Stax can be bought on the official Ledger website. As of writing this Ledger Stax review, however, the wallet can still only be pre-ordered. Furthermore, the current round of pre-orders is closed - if you want to order the wallet for yourself, you'll need to wait even longer to do so. Make sure to sign up for Ledger's newsletter, in order to get notified when the next batch of pre-orders will open up! On top of that, do also consider the Ledger Stax price point, too - if you're looking for more-affordable wallets, you can check out the Nano S Plus or the Nano X.

What types of cryptocurrency wallets are there?

In total, there are four big types of cryptocurrency wallets - online, hardware, software (app), and paper ones. Each of these types of wallets have their own features, benefits, and shortcomings, and are thus going to be suitable for different types of people, too. Security-wise, paper wallets are seen as the best alternative, while convenience-wise, software and online ones should be your go-to options.

What are “hot” and “cold” wallets?

Hot wallets are those crypto storage pieces of software that maintain a constant connection to the internet. As opposed to that, cold wallets are hardware devices that store your cryptos offline. Safety-wise, cold wallets are considered the best option - since they are always offline, you don’t need to worry about some sort of a hacker stealing all of your cryptocurrency assets.

Are hardware wallets worth investing in?

It depends, but in most cases - yes. If you’re just starting out with cryptocurrency trading and investing, a hardware wallet might be a bit of an overkill - it is generally considered that hardware wallets should be purchased once you have a significant amount of crypto, and want to keep it safe. If you’re an active trader, that can also dissuade the matter even further - trading-wise, software and online wallets are much more convenient.

Can you keep your cryptocurrencies in two or more wallets at a time?

Definitely! It’s also part of crypto storage best practices, too! Most cryptocurrency enthusiasts prefer to have a software and a hardware wallet - the former for easy access and trading, and the latter for safe storage. However, you can also utilize multiple wallets simply in order to make sure that your assets are safe and sound. This way, if one of your crypto wallets becomes compromised, you won’t lose all of your assets.

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