Hardware wallets have been a staple of practically every seasoned cryptocurrency enthusiast, as they provide absolute control over their security when it comes to safeguarding coins. Ledger’s success as a wallet producer has recently been affirmed as the company boasts over 1.3 million sales worldwide in a blog post written by its CEO, Eric Larchevêque.
The boasting was kept to a minimum, though, as he did not make it the point of his post, choosing instead to focus on the need for hardware wallets.
“With a series of high profile hacks on major crypto exchange platforms as well as a constant stream of headlines around individual crypto attacks, it’s more evident than ever before that security must be top of mind for every crypto investor no matter how large or small their assets,” Larchevêque wrote.
Ledger wallets have been available through retail partnerships around the world, from the Czech Republic to Nigeria. Its units, along with Trezor’s, have also been seen in stores that do not have official partnerships, such as PCGarage in Romania.
The global sales and logistics networks these companies cooperate with allow them to reach more customers, opening them up to nearly a billion potential clients.
Interestingly enough, we have no official sales figures for the Trezor hardware wallet outside of a few wild speculations from Reddit. The only time anyone got an answer, it was a possibly random answer from someone eight months ago that put the figure at precisely 812,376.
Trezor’s choice to keep quiet about its sales doesn’t mean that the company is doing poorly, but if it had particularly strong sales figures, it would be more advantageous to boast about them.
For some years, these two hardware crypto wallets have dominated their niche, but the average user continues to rely on software to safeguard assets. This might not be the worst trend to have, though.
In our conversation with Edge CEO Paul Puey, we went through some of the flaws of everyday individuals relying on hardware. Puey said that it’s probably better to use software in most cases because “[people are] not accustomed to the concept of securing a private key.”
“One of the challenges with hardware wallets is that it solves a problem that doesn’t exist and it creates a problem that does. The problem that does exist is that people don’t know how to manage keys and they lose them or they put them in an insecure place,” he said.
Though he agrees that hardware wallets are indeed “incredibly secure,” they can only be as good as the people using them.