Ledger is a hardware cryptocurrency wallet manufacturer and one of the best bitcoin wallet, who is starting to feel the slowdown in the market for cryptocurrency. Apart from the bear market, that is extended, it has also been reported by the company that there are delays in the production of the company’s Nano X wallet – the reason why it is being forced to reevaluate the overall staff count in the company and is thus planning to let go 10 percent of its workforce. The company currently employs around 200 employees.
BTC or Bitcoin was at its hottest stage in the year 2017 – and therefore Ledger had sold almost more than 1 million wallets. Coinbase is one of the best bitcoin exchange. It has been said by the company’s CEO, Eric Larcheveque that, even though the sales of wallet are still going at a good pace, there can be struggles in the future and therefore, the company doesn’t want to reveal all of those struggles. The company is just not looking into the bear market, but it is also facing the heat of the slowing cryptocurrency, due to the unnecessary increase in the overall competition and also various other glitches within its own wallet as well.
It was last year that the company had pushed an update to its Nano S wallet, which limited the total number of installed apps to just two or three. This was met by various criticisms from its users, who also took to the social media handles, in order to vent their frustration. The main complaints from the users were that – this change made the Ledger Nano S review wallet obsolete and less riddled with features, which in turn forces the users to opt for an upgrade to the Nano X wallet.
But, it was revealed earlier that, even after upgrading to the Nano X wallet, the job of the users would not have been done, as there are serious production quality issues with the Nano X wallet, and therefore there was an entire batch of units that were unable to perform their jobs as well. This made the company reject the wallet altogether and thus there were delays in rolling out the modified wallet, with all the bug fixes.
The company took to Twitter, on the 21st of March, in order to answer the reason for the delay in the release of the Nano X wallet. The company said that, mainly due to various production issues within the company, it is deeply regretted that the Nano X wallet from Ledger will be delayed for release, for another 1 month.
The company is doing everything in its power to improve the times of the shipment and thus will keep its users posted about the updates. The company also launched an unprovoked attack on Trezor, at the MIT Bitcoin Expo – which was termed as ‘childish’ by the cryptocurrency community. A company that is helping users to secure large sums of money and being childish and irresponsible, is definitely not a way to win over customers.