Ledger is sure standing on the threshold of success after it recorded a financial milestone of $29 million after it sold more than 1 million hardware wallets in the last one year. This success is not far-fetched owing to the adoption and massive patronage of their products by crypto investors and enthusiast who wants more secure wallets or vaults not prone to cyber attacks.
The hardware’s company President revealed this during an interview; he explained that his company’s product enjoyed such patronage because it was a more secure platform that crypto users and individuals crypto investors could use to keep their crypto assets, without the fear of losing all of their digital tokens on the blockchain.
If the keys to the blockchain got missing by their owners, there was no other retrieval option for these digital tokens stored on the blockchain platform.
“Blockchain itself is secure but signing on the blockchain is a flaw, if you lose the (Private key), there is no bank looking after your assets or any way to recover them,” Pascal Gauthier told Forbes.
Funding from billionaire investors allowed the crypto conglomerate to possess these financial success cards and they sure are using it to their advantage. Early this year they had a $75 million donation from Drape Venture Network for their projects which is on the higher end when compared to the $7 million they raised from the same Investor Tim Drape last year.
In spite of this, the company continues to receive more financial support and backing as more and more technology giants have signified their interest in assisting them to materialize its blueprint because of their substantial potentials.
Organisations like Google, Siemens, and even the mobile giant, Samsung are ready to sink their funds into the crypto wallet manufacturer as revealed by Forbes.
These monies will be invested into the infrastructure of the company which is the company’s priority; the second plan is to continue manufacturing hardware products that will meet the needs of their retail market, both for their crypto end users and crypto Investors.
Xapo and Coinbase are presently the crypto channels that big investors use for their crypto transactions because they operate on a vault system that is suitable for their large amounts of virtual token transactions.
Ledger plans a more secure and better storage network or crypto platform that will not only allow these investors to transact with a large number of digital tokens but will let them store or save their large sums of crypto assets on their own without a third party.
This plan has received lots of positive responses from interested crypto users and broker-dealers who need a more secure form of digital wallets. Pascal Gauthier went further to disclose that crypto users ‘queue’ up in France to obtain Ledger’s cryptocurrency wallets.
All these are a testament to the fact that the global crypto space is evolving gradually from the centralized crypto space to a more secure decentralized ecosystem in which everyone is in charge of their wealth.