Celsius troubles spark Ledger crypto wallet sales boom

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Hardware wallet makers have announced that Ledger Enterprise sales have nearly quintupled amid the turmoil in the cryptocurrency market.

Asked by reporters about the impact of the market downturn on the company, Ledger CMO Ian Rogers clarified that sales “jumped 4.5 times in a day on the news of the Celsius platform issues” and continue to be high:

“Sales are highly correlated with the outflow of money from cryptocurrency exchanges. Therefore, the more information people receive, the more they begin to value security and self-control. Today, Ledger makes all of 2020’s annual revenue in a quarter.”

Ledger CEO Pascal Gauthier called the Ledger wallet a “critical digital device” when it comes to securely interacting with the digital asset ecosystem. He explained that more than a third of transactions on digital platforms involve Ledger customers as a buyer, seller, or both.

In April, hardware wallet provider Ledger announced a new way for its customers to receive reports on transactions with crypto assets. The company has partnered with cryptocurrency tax calculation platform ZenLedger to integrate the new feature right into the interface of the Ledger Live app.

Source: Bits

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