Hardware wallets are becoming the safest way to preserve cryptocurrency, rather than storing it through an online wallet that is at risk for hacking. To help appeal to an even larger market, major companies including Siemens, Samsung, and Google have expressed their desire to work with Ledger, which manufactures hardware wallets.
They aim to get involved with a second round of Series B funding. This round would basically let the interested companies either find or sign contracts with Ledger to be the name of their own hardware wallets.
The report that these three companies are interested comes from Forbes, suggesting that Ledger could be the first entity in Europe that offers such a service. In 2017, they formed a partnership with Intel to make hardware wallets more available and mainstream for consumers that trade on desktop and mobile platforms.
As Ledger established their Series B funding in January, they managed to reach $75 million in their first round. Over the last year, the growth has made a big impression on the companies, especially considering the crypto market’s decline over this time. With scammers and hackers running rampant, it is more important than ever to consider a cold storage wallet that can only be accessed with a physical connection to a smartphone or desktop.
The Ledger hardware itself is programmed to work with over 30 different virtual currencies in the industry, which is fairly similar to the way that the hardware works from Trezor. The big difference between the two companies is that the products are much less expensive, which means that consumers with less money to burn can safely protect their crypto.
Google, Samsung, and Siemens are all major players in the retail world, so their interest in the use of hardware wallets means that there is obviously something to gain from having it. Ledger has been a revolutionary catalyst in the market, helping to prevent the harm that has unfortunately affected so many. Ledger has been the way to support other platforms that want something safer.
All of these companies interesting in funding Ledger’s upcoming technology and products may be indicative of their preparedness to join the crypto industry in part. A prime example is Samsung, who has specifically stated their interest in crypto mining and cryptocurrency.