Introducing Ledger Flex: A “Cold Storage” Star Among Wallets

Why Choose a Hardware Wallet?

A hardware wallet is a physical device made specifically to keep your cryptocurrency secure offline. Unlike online wallets, a hardware wallet stores your private key in a protected environment, safe from potential hacks and viruses, making it one of the safest methods for storing cryptocurrency.

In cold storage, only you can access the device and the assets on it, making a hardware wallet the perfect choice for long-term crypto storage.

We’ve already shared insights on top hardware wallets in the market. Today, meet the flagship model from France’s Ledger, a mainstay in the world of cold storage for nearly a decade.

The Ledger Flex joins Ledger’s mission to “Make the World of Artificial Intelligence Safer.”

Ledger Flex in its branded case. Source: Ledger Shop

Proof of You: Securing Identity in the Age of Digital Replicas

In our rapidly digitizing world, personal data, assets, and relationships are migrating to the virtual realm, escalating risks of fraud and AI-based identity theft. With deepfakes and generative models capable of creating convincing replicas, secure identity verification has become a pressing need.

Ledger Flex introduces “Proof of You,” a technology that authenticates your true identity, proving you are exactly who you claim to be. This is especially vital in cases where fraudsters may try to confirm their (your) identity for unauthorized purchases or crypto transactions.

Ledger Security Key powers this technology, working in tandem with the Ledger Flex wallet. It enables users to generate access keys following the FIDO2* standard, eliminating the need for complex codes and one-time passwords often targeted by cybercriminals.

*FIDO2 (Fast Identity Online) is an open standard for website and app authentication without traditional alphanumeric passwords. It uses physical devices like USB keys, smartphones, or biometric sensors to verify identity.

Check out: The Growing Threat of Deepfake Video and Audio Calls

How Does It Operate?

1. The Ledger Security Key app allows users to create cryptographic keys that are stored securely within the Ledger hardware wallet.
2. When accessing FIDO2-enabled websites or apps, users skip password entry by connecting their hardware wallet and approving the action on its screen.
3. Key operations occur exclusively within the hardware wallet, ensuring that they remain protected from malicious actors.

The Ledger Security Key is supported by top platforms, including Google, Amazon, PlayStation, Binance, and Coinbase. 

Key Features of Ledger Flex

This new wallet, derived from the successful Stax model, features an E-Ink screen for excellent readability, even under bright sunlight, and an intuitive interface for user-friendly operation. 

Compatible with Windows 10+, macOS 12+, Ubuntu LTS 20.04+, Android 10+, and iOS 14+.

Ledger Flex is equipped with a high-security Secure Element chip, certified to the top CC EAL6+ standard. This chip is integral for generating and storing private keys in complete isolation, making it virtually impossible for them to be intercepted or forged.

The wallet also features Clear Signing technology, which reduces transaction errors by requiring users to visually confirm all transaction details before processing.

Ledger Flex BTC Edition. Source: Ledger Shop

Ian Rogers, Ledger’s Chief Experience Officer, remarks:

If you're not using a secure screen, your digital life is at risk. Period. Ledger Stax and Ledger Flex feature the world's only truly secure screens, tested by Ledger's own hacking lab, Donjon. With the rise of deepfakes, proving one's humanity and identity is becoming increasingly critical. Ledger Stax and Ledger Flex are the secure touchscreens to use with the unsecured smartphone in your pocket.

Ledger Flex Specifications Overview:

• Weight: 57.5 g;
• Dimensions: 78.40 mm x 56.50 mm x 7.70 mm;
• Material: Aluminum frame, plastic back;
• Display: 2.84-inch touchscreen;
• Resolution: 600 x 480 pixels.

The device comes with USB-C, Bluetooth 5.2, and NFC, and is powered by a battery that, according to the manufacturer, can last “weeks or even months on a single charge.” The technical manual specifies that the battery offers up to 10 hours of viewing or up to 150 transactions before needing a recharge.

Available in two color schemes: the classic black and silver or a unique orange BTC Edition. The body features the iconic black-steel design that has characterized the brand’s products for a decade. See also: Ledger and Revolut Devaluation

Related: Molten Indicates Depreciation of Ledger and Revolut

Which Assets Are Supported by Ledger Flex?

Ledger Flex opens up a broad ecosystem of digital assets, allowing users to buy, sell, transfer, and stake over 500 different cryptocurrencies, including popular choices like BTC, ETH, and XRP.

The device’s features can be further enhanced by adding up to 100 decentralized applications. It also supports NFT management on the Ethereum and Polygon blockchains via the Ledger Live app.

A Comparison of Ledger’s Hardware Wallets

Ledger’s array of hardware wallets offers secure crypto storage options, each with unique characteristics to suit various user preferences.

Let’s explore the standout features and differences between the most popular models: Stax, Nano X, and Flex.

Ledger Stax: The Elite Edition

Stax is Ledger’s luxury model, distinguished by its refined design that resembles a stack of credit cards. It comes with a curved, high-resolution display (672 × 400 pixels with 16 shades of gray) and a solid metal body. The larger screen enhances precision and security in user interactions.

Stax offers features such as Bluetooth, NFC, and wireless charging. Naturally, these premium features come with a higher price.

Discover more in our article, “Ledger Stax — yet another place to keep your NFTs.”

Nano X: Ledger’s Entry-Level Solution

Ledger Nano X is a compact, user-friendly wallet that’s well-suited for beginners. It merges strong security, portability, and an attractive price point. Bluetooth capability allows for wireless connections to mobile applications.

The device doesn’t feature a touchscreen and needs to be paired with a smartphone for operation. Nevertheless, like other Ledger wallets, it includes a certified Secure Element chip (CC EAL5+), offering dependable security.

Ledger Flex: The Sweet Spot for Price and Performance

The Ledger Flex carves out a position between high-end niche models and mass-market options. It offers a practical blend of price and functionality, making it an attractive option for those who want affordability without compromising on security.

Ledger Product Range. Source: Ledger Shop

Ledger Flex Pricing

Priced at $249, Ledger Flex is more budget-friendly than the premium Ledger Stax, which currently sells for $399 (excluding taxes and shipping).

It evokes the idea of the iPhone SE: a step above earlier models but designed for those on a budget.

Ledger Flex’s Security Concerns

Ledger has encountered its share of security criticisms. In 2021, a data breach resulted in the exposure of personal data belonging to nearly 300,000 users.

In early 2023, developers found a malicious version of the Ledger Connect Kit, which targeted private keys. This led to a company-wide warning against using dApps until the threat was mitigated.

In May 2023, Ledger faced an even more significant challenge with the launch of Ledger Recover, a key recovery service using identity verification. Although Ledger stated that the service was optional, some users accused them of creating a “backdoor,” with claims that “the code needed to send private key data online would exist on your device regardless of consent.”

According to the manufacturer’s promotion of the Recover service, Ledger Flex is compatible with it from launch. They stated, “with Ledger Recover, you won’t need to worry about retrieving access to your account, even if your physical backup of the secret phrase is lost or compromised.”

To their credit, the French manufacturer’s engineers at Ledger have always been prepared to stand up to challenges from cyber attackers.

Read on: Trezor Wallet: How Secure Is Your Crypto?