Ledger Stax Review 2024: Fees, Features, Security Ranked

Theft is a major issue in the cryptocurrency sector. According to a Chainalysis report, a record of $3.7 billion was stolen in 2022. While this number decreased to $1.7 billion in 2023, the number of individual hacking incidents jumped to 231. These figures highlight the need for highly secure options to protect your crypto fortune, and that’s where Ledger Stax comes in.

In this Ledger Stax Review, we will evaluate Ledger’s new hardware wallet across several parameters, including features, security, user experience, durability, pricing, and more.

What is Ledger Stax?

Ledger Stax is the latest cold storage device from Ledger. Its release date was in May 2024. Stax aims to make crypto self-custody more accessible, easy to manage, and enjoyable.

This hardware wallet protects your crypto assets and NFTs from online threats and vulnerabilities by keeping them secure in an offline environment.

But which cryptos can you store? More than 500 digital assets are supported on Ledger Stax via the Ledger Live app. The app allows you to buy, send, receive, stake, and swap crypto on Ledger.

Thousands more coins are supported via third-party wallets, bringing Stax’s total crypto compatibility to 5,500 coins and tokens.

As for non-fungible tokens, Ethereum and Polygon-based NFTs are supported through the Ledger Live App, with additional blockchain compatibility via third-party wallets.

Key Features of Ledger Stax

Now, let’s take a closer look at what makes Ledger Stax so powerful. We’ll dive into the key features of this hardware wallet, starting with its security.

Cutting-Edge Security Features

Ledger has been producing hardware wallet devices since 2014 and now helps secure over “20% of the world’s digital assets.” The Ledger Stax offers the following robust security features:

Advanced Encryption Technology

Every Ledger device, including Ledger Stax, uses the Secure Element to store your private keys. This is a special computer chip rated according to the Common Criteria (CC) Evaluation Assurance Level (EAL) standard. The Secure Element chip in Ledger Stax is EAL6+ certified, making the wallet highly secure.

The Secure Element Chip not only stores your private keys but also provides an extra layer of protection against software attacks, fault attacks, and side-channel attacks.

In addition, Ledger Stax runs on Blockchain Open Ledger Operating System (BOLO), Ledger’s very own OS, which ensures that each app on your device is managed separately. This prevents a single point of failure and keeps your recovery phrase isolated from the apps.

A recovery phrase is a backup that allows you to regain access to your funds in case you lose your wallet.

Ledger Stax uses AES-based encryption when using Bluetooth and a PIN code to access the device. It also has a dedicated team of security experts called the Ledger Donjon that fixes vulnerabilities, rolls out updates, and adds new features.

Ledger Stax also comes with a protective magnet shell for physical protection and a Ledger Security Key, offering 2FA and Passkey capabilities to log in to your wallet.

Cold Storage Capabilities

As a hardware wallet, Ledger Stax offers cold storage, the most secure way to protect your private keys. Your private keys are stored within the physical device you purchase, which operates independently of any internet connection. This ensures that even if your computer or phone gets compromised, your private key remains secure.

So, how do you make transactions with Stax? Ledger Stax handles transactions in two parts: offline and online. Internet-related functions like transaction initiation and management happen on Ledger Live, while the private key remains within Ledger Stax to securely sign the transaction within the device’s protected environment.

UI and UX (User Interface & User Experience)

Security is top-notch, but what about the visual elements of Ledger Stax? How does it look and feel when you use it?

The overall user experience is crucial, even in a hardware wallet. If it’s not smooth to use, you may end up frustrated, which could lead to mistakes that, in the case of crypto, can cost you your fortune. So, how does Stax fare in the UI and UX department, which isn’t really crypto’s strong suit? Let’s check it out.

E Ink Touchscreen Display

Unlike Ledger’s previous devices, its brand new hardware wallet line features the industry’s first curved E Ink display. This innovation sets Ledger Stax apart from its competitors.

In general, E Ink displays, also known as electronic paper, use microcapsules to display text and images. These displays resemble ink on paper because they reflect light rather than emit it.

Moreover, E Ink displays are easier on the eyes, consume less power, and are more energy efficient. They are commonly found in e-readers and digital clocks, and now, thanks to Ledger, hardware wallets have them, too.

You can use this feature to personalize your device by displaying a unique name or an image such as NFT on the lock screen.

In the case of Ledger Stax, the unique E Ink touchscreen isn’t only for viewing pleasure but is also loaded with security. The touchscreen is controlled by a Secure Element chip and allows you to clearly see and review all transactions before signing.

Now that we have covered Stax’s most appealing feature, we’ll dive into its build and durability.

Compact and Stylish Build

To make a statement with its new product, Ledger turned to Tony Fadell, the inventor of the minimalist and polished iPod, which later influenced iPhone designs.

This influence is evident in the device, which is roughly the size of a credit card. Its exact dimensions are 85 x 54 x 6mm, and it weighs just 45g. The sleek aluminum frame adds to its polished look, while the back cover is plastic. However, it comes with a protective magnetic shell for added durability.

The unique E-ink display wraps around the device, giving you an extended view. But that’s not all—Ledger Stax also features an ultra-thin plastic screen cover with an anti-glare coating, giving it a refined finish.

For safekeeping, Ledger Stax includes built-in magnets, allowing you to stack multiple devices on top of each other, much like you would with cash.

Battery Life and Durability

The device lasts up to 10 hours of normal use on a single charge. In crypto terms, you can do as many as 150 transactions before the battery runs out. In standby mode, Stax can last for days.

Its E Ink display also consumes relatively low power. Plus, when it’s off it uses no power even while displaying your name or your favorite NFT or picture.

Ledger Stax is equipped with a rechargeable, eco-friendly battery, and charging is fast and wireless. Slim enough to fit in your pocket or wallet, it is also durable and secure, featuring a black aluminum and magnetic shell.

How to Use Ledger Stax

Now that you know what Ledger Stax offers in terms of security and usability, it’s time to put it to use. If you are concerned about the complexity of using a hardware wallet, don’t be— just be patient and always double-check all the data and details. So, let’s go!

Step-by-Step Guide to Setting Up Ledger Stax

Here’s how to get started with your Ledger Stax, including setting it up, connecting with the companion app, and managing your coins.

Step 1: Initial Setup

First, you need to buy the wallet, which should be done via the official Ledger website.

Once you have made the purchase and the product is in your hand, you can start with unboxing.

Inside the box, you’ll find a Ledger Stax, one USB-C to USB-C cable, and a recovery sheet to write down your 24-word phrase.

Now, take the Stax out of the box. On the right side of the device, you’ll find a button. Press and hold it for a second. Next, tap on the screen to begin.

It’s time to name your device. In your Stax, click on ‘Set name,’ then enter the name you’d like to use for your device. Once done, click ‘Confirm name.’

Click once more to proceed with the setup. Next, you’ll set a PIN. Click ‘Choose my PIN’ and enter a 4 to 8-digit PIN, which will be required each time you unlock your Stax.

Confirm your PIN by entering it again. Now choose the ‘Set up a new device’ option and read the on-screen instructions before clicking ‘I understand.’

You’ll now receive your 24-word Secret Recovery Phrase. Write it down and click ‘Done.’ You should store this safely, as you’ll need it if you ever have to regain access to your account.

To verify the phrase, click ‘Start confirmation’ and select the requested words. Now, you are done setting up your Ledger Stax.

Step 2: Connecting to Ledger Live

To explore the wide world of crypto, you’ll need the companion app Ledger Live.

First, download the app on your phone, open it, and get started. Enable Bluetooth on both your phone and Stax to pair them. Then, select your device in the app.

If you see the same code on both the app and Stax, click ‘Yes.’ Next, click ‘I’m ready’ on your Ledger Stax to begin using it.

To add accounts to Ledger Live:

• Open Ledger Live.
• Go to the Accounts tab.
• Click + Add account.
• Choose the cryptocurrency you’d like to add.
• Connect and unlock your Ledger device.
• Open the appropriate cryptocurrency app on your device.
• Ledger Live will search for existing accounts on the blockchain.
• You can select the accounts to add and click Add account.

Step 3: Managing Your Cryptos

To send crypto from Ledger Stax, first copy the address where you wish to send the crypto. Next, open the Ledger Live app and connect your Stax. Tap on the crypto, paste the address that you copied, and input the amount you want to transfer. Finally, click ‘Confirm.’ Now, confirm the transaction directly on your Ledger Stax by reviewing the transaction details and approving it on your device’s screen.

To receive crypto on Ledger Stax, first open the Ledger Live app and connect your Stax. Go to the account and tap ‘Receive’ on the selected crypto. Copy the address and verify that it matches the one on your Stax. Paste this address in the wallet or platform from which you’re sending the crypto. After inputting the amount, confirm the transaction directly on your Ledger Stax.

Pros and Cons

Now, we’ll look into the positives and negatives of this latest device from Ledger:

Customer Reviews and Feedback

It’s time to see just how well the market has been responding to Ledger Stax and if it really has been worth the wait, as the product was first announced in 2022.

As expected, Ledger Stax users are appreciating the big screen after struggling with smaller screens for so long. The fact that the device is packed with the security features Ledger is known for adds to Stax’s appeal, and its setup is quite smooth as well.

The overall design and the feel of the wallet are superb; however, not everyone agrees. Some have expected more functionality, and of course, not everyone is willing to pay such a high price.

How Ledger Stax Compares to Other Hardware Wallets

Now, just how well does Stax compare against its peers? Let’s take a look!

Ledger Stax vs. Ledger Nano X

With Stax, Ledger has clearly aimed to do something different, as reflected in its design. Unlike the OLED display and USB-like stick design of Ledger Nano X, Stax has a curved E-Ink touchscreen, which is not only larger but also better.

Ledger is offering a customizable experience with Stax, something not available in its previous devices. The goal of Ledger Stax is to make self-custodial more accessible and appealing as crypto gains mainstream popularity.

However, the unique display, NFC technology, and wireless charging come at a cost of $399 compared to Ledger Nano X, which is priced at $149.

Ledger Stax vs. Trezor Model T

Ledger’s biggest competitor, Trezor, offers its top-quality Model T at a price of $149. It supports thousands of coins & tokens, provides PIN & passphrase protection, features an EAL6+ chip, and includes a companion app for coin management, much like Stax.

However, while the Trezor Model T has a touchscreen, it doesn’t compare to Ledger Stax’s trusted and highly customizable E-Ink display. This screen is optimized for maximum readability, ensuring easy and secure transactions.

Where to Buy Ledger Stax

Ledger Stax can be bought from several places, with the primary and safest one being Ledger’s own website. Simply visit Ledger Shop to make your purchase.

Other options include Etherbit, BTC Direct Shop, Best Buy, and Amazon. However, when buying from third-party websites, ensure the product is not tampered with before using it, or you may end up losing your funds.

With everything about Ledger Stax covered, we have now come to an end of our Ledger Stax review, and the only question that remains is:

Is Ledger Stax the Best Option?

Ledger is a well-known hardware wallet manufacturer, having sold over 6 million devices globally. A decade since it embarked on the mission to help crypto holders secure their assets, it has now launched a new device — Ledger Stax.

Ledger Stax offers complete control over your crypto assets with its industry-leading Secure Element and custom OS. Its curved E Ink touchscreen, the first of its kind, offers a simpler yet secure way to review and sign transactions. This combination of ease of use and security makes Ledger Stax a nice addition to your hardware wallet collection.

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