French startup Ledger, best known for its secure crypto hardware wallets, has recently launched a new mid-range device called Ledger Flex. Priced at $249, this compact hardware wallet features an E-Ink display for easy navigation and transaction approval with a simple tap.
Similar to all other Ledger wallets, the Ledger Flex is built around a secure element that securely stores your wallet's private keys. This ensures that even if your computer or phone gets compromised, your crypto assets are safe, as they cannot be accessed without the private keys.
For those who prefer to store their assets on centralized cryptocurrency exchanges like Binance, Coinbase, or Kraken, the risk of hacks or sudden disappearance of the exchange is always present. This is why using a hardware wallet like Ledger Flex is considered a safer option.
Customers manage their Ledger wallets through the company's companion app, Ledger Live, which is available on both computers and mobile phones. This app allows users to access public keys, connect to various web3 services, and initiate transactions. Additionally, Ledger devices are compatible with third-party software wallets for added security.
When initiating a transaction to transfer crypto assets, the details will be displayed on the Ledger wallet for confirmation before approval. If the hardware wallet is lost, the crypto holdings can be recovered using a secret recovery phrase.
Before the Ledger Flex, Ledger's original hardware wallets, such as the Ledger Nano S Plus and the Ledger Nano X, featured a USB-key design with a small black-and-white screen and physical buttons. The Ledger Stax was introduced as a high-end wallet with a touchscreen, but at a higher cost of $399.
Targeting a more budget-friendly market, the Ledger Flex is a simpler version of the Ledger Stax. It features a flat E-Ink screen for easier mass production. Other differences include a smaller screen, a plastic body with an aluminum accent at the bottom, a physical button for sleep/wake functionality, and a USB-C port for charging.
Similar to the Ledger Stax, the touchscreen on the Ledger Flex interacts directly with the secure element. Additionally, the Ledger Flex can be used as a security key for two-factor authentication on mobile devices with NFC capabilities. However, for laptop usage, a USB cable is required.
Unlike the pre-announcement for the Ledger Stax, the Ledger Flex is already available for shipping. Priced at $249, it falls between the higher-end Ledger Stax and the more affordable Ledger Nano X and Ledger Nano S Plus, which are priced at $149 and $79 respectively.