Crypto hardware wallet maker Ledger is facing a wave of criticism following the rollout of its new Multisig application, which introduces a controversial fee structure alongside what many acknowledge as a solid technical upgrade.
Key Takeaways:
- Ledger’s new Multisig app sparked backlash for adding a $10 flat fee per transaction and a 0.05% token transfer fee, on top of gas costs.
- Developers and users accused the company of centralizing crypto for profit-driven policies.
- The new Nano Gen5 comes equipped with Bluetooth and NFC connectivity.
The company said the Multisig app will charge a flat $10 fee per transaction, excluding token transfers, which will instead incur a 0.05% variable fee.
These costs are in addition to standard blockchain gas fees, sparking frustration among users who accuse Ledger of monetizing self-custody.
Ethereum Developer Accuses Ledger of Centralizing Crypto Under New Wallet Model
Ethereum developer pcaversaccio was among the loudest critics. “You parade as Cypherpunk while trying to make Ledger Wallet (rebranded from Ledger Live) the single choke point for all crypto so you can squeeze everyone through it,” he said on X.
Ledger’s Chief Technology Officer Charles Guillemet has promoted the Multisig feature as a key security enhancement, emphasizing the importance of clear signing for safer transactions.
However, his comments clashed with the company’s documentation, which initially stated the service was free.
Guillemet later clarified that the mention of it being free was a typo, but the confusion fueled skepticism over the company’s communication and pricing strategy.
Founded in 2014, Ledger is one of the world’s largest hardware wallet manufacturers, claiming to secure about 20% of global crypto assets.
The company has sold more than 7.5 million devices, promoting its products as an essential safeguard for users who prefer to hold their own private keys instead of relying on centralized exchanges.
While Ledger’s hardware wallets remain unbreached in real-world use, cybersecurity firm Kaspersky has warned that no device can protect users from phishing or social engineering attacks, which continue to be the most common threats.
The backlash over Multisig fees highlights the growing tension between security innovation and commercialization in crypto infrastructure.
For many users, Ledger’s latest move signals a deeper concern that the line between self-custody and corporate control is beginning to blur.
Ledger Launches Nano Gen5 with NFC and E Ink
Ledger has redefined its product line with a major rebranding and the launch of the Ledger Nano Gen5, its most advanced device to date.
The company said its wallets are no longer just “hardware wallets” but “Ledger signers,” reflecting their expanded role in securing not only digital assets but also online identities in an era shaped by AI.
The companion app, Ledger Live, is now called Ledger Wallet, serving as the central hub for managing and tracking digital value.
The new Nano Gen5 comes equipped with Bluetooth and NFC connectivity for “on-the-go signing” and features an E Ink touchscreen that enables Clear Signing, Transaction Check, and the Ledger Security Key.
Meanwhile, competitor Trezor unveiled its own next-generation device, Safe 7, just days before Ledger’s announcement.
With features like transparent secure elements and “quantum-secure updates,” Trezor’s launch underscores the tightening race in the hardware wallet market.
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