With so many new people entering the world of cryptocurrencies, it is only normal that there will be issues encountered along the way. Not only do we see exchanges struggle to keep their infrastructures up and running, but Ledger is also experiencing delays. More specifically, the company has seen such a huge demand for its Nano S hardware wallet, new shipments have been delayed until March 19. This is a blessing and a curse at the same time, although it will cause a fair amount of friction in the community.
Ledger’s Popularity can be a Burden
On the one hand, it is good to see increased demand for secure cryptocurrency hardware wallets. This seemingly indicates people are finally realizing that keeping money in an exchange is never a smart idea. Nor should they rely on desktop and mobile clients either, especially not when the goal is to keep funds offline at all times. Hardware wallets are always the go-to solution in this regard, even though none of them support all popular cryptocurrencies at this point in time.
However, overwhelming demand for these products can spell trouble for the manufacturers of these devices. In the case of Ledger, its Nano S has quickly become the darling of hardware wallet users. It is sleek, secure, convenient, and not overly expensive. The one thing to contend with is how long it can take to get one’s hands on one. With the increased demand come increased queues for orders waiting to be shipped.
More specifically, Ledger announced Friday that the company has seen a major influx of orders for the Nano S. This is a good sign for the future of cryptocurrency, but it also means the company is struggling to keep up with demand. The Nano S is completely out of stock as we speak, and no new shipments will be made until March 19. It is a very long waiting period for a lot of customers, as this also affects people who placed orders in the past few weeks.
Moreover, the company announced it is dropping the price of the Ledger Nano S to EUR 79 – excluding VAT – and will offer free shipping to all major countries. It seems likely this will only lead to even more orders of this popular hardware wallet, which is why the company also plans to ramp up its production. Interested parties can still pre-order a Nano S from the company’s website, but they will be shipped based on the order in which they were placed.
How all of this will play out for the company in the long run remains to be seen. It is good to see the demand for these hardware wallets increase exponentially, although few people expected things to have moved along at this pace. It also shows that Ledger seemingly offers something no other manufacturer is capable of right now. It is a bit unclear what that is exactly, as all major hardware wallets offer secure cryptocurrency services.
In the end, things are looking rather positive for this French company. Its success has been unrivaled in the world of cryptocurrency hardware wallets. All it needs to do now is work on integrating additional top cryptocurrencies, as none of its competitors support most of those coins either. Whoever comes to market first with a product that supports all of the top currencies will immediately become the king of the hill, so to speak.