Ledger & Its Million Crypto Hardware Wallets Sold In 2017
Greatest hardware crypto wallet producer and creator Ledger sold more than 1 million hardware wallets in 2017, gaining a profit of $29 million.
During the interview with Forbes, Ledger president Pascal Gauthier mentioned that the absence of secure platforms which customers can use to sign transactions on the unchanging public blockchain led the requirement for Ledger and hardware wallets in overall, to increase.
Gauthier told Forbes: “Blockchain itself is secure, but signing on the blockchain is a flaw. If you lose the, there’s no bank looking after your assets or any way to recover them.”
Earlier in 2018, Ledger lifted $75 million led by billionaire previous stage innovation technology investor Tim Draper and Draper Venture Network funds. The Series B financing round of Ledger was a considerable increase from its former Series A funding round that closed a $7 million investment.
After having registered an income a year ago with amazing financial results, Ledger is established to raise yet another multi-million dollar funding round this year. Earlier, some of the greatest technology industrial conglomerates in the world such as Samsung, Siemens and Google have viewed the financials of Ledger, with concern of investing in the company.
The preceding Series B funding round of Ledger was generally applied to promote the infrastructure of Ledger and establishing products aimed at retail traders and individual investors. In the future, Gauthier mentioned that the firm will pay attention on delivering products for large-scale institutional investors, whose entrance into the cryptocurrency sector is calculated to be inescapable basically because of the debut of Coinbase Custody.
At the present moment, the great number of large-scale investors processing bitcoin are using vault systems of Xapo and Coinbase to save their funds. But, requesting vaults to keep massive amounts of bitcoin still prescribe investors to rely on the operators of the vault.
The outlook of Ledger in the noncurrent is to allow an ecosystem that will permit even large institutions to hold cryptocurrencies like bitcoin, ether, and tokens without counting on third party service providers.