Category: Coinstop

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Coinstop Crypto Hardware Wallets Press Release

Coinstop Introduces the Ledger Nano S Color Edition

Australia’s leading hardware wallet provider, Coinstop, has recently added the Ledger Nano S Color Edition to its Australian-based online store. 

The Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet. The device is built on robust safety features for storing cryptographic assets and securing digital payments. The Ledger Nano S uses a secure OLED display to double-check and confirm each transaction using the buttons located on the side of the device.

Coinstop is excited to announce that the Ledger Nano S Color edition is now for sale, including a new set of products that celebrates the uniqueness of all the individuals that make up the cryptocurrency community.

All Ledger Nano S Color hardware wallets come with the uncompromising security features that Ledger users have come to expect, supporting 700+ cryptocurrencies, and with an easy-to-use interface that makes keeping your crypto assets safe and simple. The coloured edition is beautifully designed with simplicity in mind, coming in five new unique colours: blue, orange, pink, green, and transparent.

A Wallet for Existing Ledger Users

If you already own a Ledger Nano S, the new colour edition is the perfect complement, allowing you to differentiate between wallets with ease. You can separate your investments onto two or more wallets, differentiating between the colours. For example, you may want to use one wallet to keep Bitcoin and Litecoin, and another to store Ethereum and Ripple. Other individuals may be interested in using one wallet primarily for crypto assets and a second wallet primarily for utility apps, such as the Password Manager (available in developer mode), Hello and Woleet. Owning a second wallet adds an extra layer of security in the event that one of your wallets is lost or stolen. You can read about the benefits of having a second wallet here.

A Wallet for New Users

With a colour to suit every individual, the Ledger Nano S Color Edition is perfect for individuals starting out. Beginners who may only have a small amount of crypto assets will find the Ledger Nano S Color Edition easy to set up and navigate. With crypto hacks continuing at an alarming pace, it’s imperative that one’s assets are moved safely offline. The Ledger Nano S Color Edition is a secure way for new investors to protect themselves in style.

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Australia Coinstop Crypto Hardware Wallets Crypto News

Crypto Hardware Wallet Shortage Hits Australia

The recent crypto boom in Australia has led to a shortage of crypto hardware wallets throughout the country as suppliers struggle to keep up with the demand.

Popular wallet suppliers in Australia such as Coinstop have been selling out of popular devices such as Trezor and Ledger as soon as they hit the shelves. They have seen a big uptick in the number of orders throughout 2021 with approximately 3.3 million Aussies now owning crypto.

Every bull cycle brings in a new wave of crypto investors of which many are worried about their security. That puts a lot of pressure on hardware manufacturers to keep up with demand and we’ve seen time and time again that they are unable to match the demand. Throw on top Covid and the chip shortages, and we now have a perfect recipe for supply outstripping demand.

Chris Pavlesic, Coinstop

With the growing number of crypto hacks and scams in Australia, there is an apparent need for people to protect their investments in cold storage. It’s not just retail crypto investors who need protection; institutions and SMSF accounts should also consider secure forms of storage for their crypto holdings.

Crypto hardware wallet shortage. Source: Coinstop Shop

Supplies have also been impacted by Covid delivery logistics, with new devices such as Ledger Nano X taking up to two weeks to be delivered from the official manufacturer in France.

Crypto Hardware Wallet Options in Australia

If you would like to protect your crypto with a hardware wallet, these are your current options:

  • Ledger Nano X (direct from manufacturer, order now, approximately 2 weeks delivery)
  • Trezor Model T (sold out, ETA 2022)
  • Ledger Nano S (in stock, order now, 2-3 day delivery)
  • Trezor (sold out, but you can pre-order now; ETA October 2021, but not promised)
  • Coolwallet Pro (in stock, order now, 2-3 day delivery)
  • Bitbox02 (in stock, order now, supply going fast)

Important: Please only buy your hardware wallets from trusted suppliers and never buy from eBay or other online marketplaces, or run the risk of losing all your holdings. Crypto News has partnered with Coinstop as our trusted supplier in Australia. Use the code CRYPTONEWS at checkout for an A$5 discount on your order.

Remember that you can also order directly from the manufacturers, however the benefits of ordering through a local distributor are cheaper pricing, faster express shipping, and ongoing local support.

View Coinstop shop

Further reading:

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Coinstop Crypto Hardware Wallets Crypto News Ethereum

ETH Staking Now Available Directly From Your Ledger Hardware Wallet

Leading crypto hardware wallet provider Ledger has announced that customers are now able to stake Ether (ETH) directly from the Ledger Live wallet. This was made possible through a partnership with an Ethereum 2.0 liquid staking platform, Lido. 

As per the announcement, Ledger will only provide users the gateway to Lido’s Ethereum 2.0 staking service, and won’t manage users’ staked assets: “We do not manage it but rather provide you with a secure way to access it.” 

What Are the Estimated Earnings?

Ether staking is a function of the network’s transition from proof-of-work to proof-of-stake consensus mechanisms. As Ethereum 2.0 launches, staking will become the new approach to securing and validating transactions on the network. Users who stake their coins will be rewarded in return. 

At the time of writing, 6,956,617 ETH – equivalent to US$21.7 billion – had been staked on the deposit contract since it went live last December. The estimated annual percentage return (APR) decreases as more coins are staked on the deposit contact. 

For instance, the initial APR for validators (node operators with at least 32 ETH staked) was around 21.6 percent. However, the APR has reduced to 5.9 percent. So if you stake US$100,000 worth of ETH, your estimated annual return would be around US$5,900, assuming the price of ETH remained constant. 

Where To Get a Ledger Live Wallet?

In Australia, you can get the Ledger hardware wallet from Coinstop, one of the reputable hardware wallet stores operated in the country. Founded by Johnathan Ross, Coinstop also ships other wallets, including Trezor and CoolWallet Pro. 

You can also order the Ledger wallets directly from the website. 

What Are the Risks of Staking It With Lido?

Note that the currently staked ETH are illiquid, meaning they can’t be withdrawn from the network until a transfer function is deployed on the beacon chain. This is also what Lido intends to solve by issuing an equivalent amount of “stETH,” a tokenised ETH, in return for all coins staked with them.

While stETH is liquid, there are only a few platforms that support it, meaning it cannot be used extensively like ETH. Users should also be aware that they don’t own full control of their assets when staked with Lido, unlike running their validator node (32 ETH). Also, you will need an equal number of stETH to unlock your staked ETH.