The year 2018 has been extremely bearish for all cryptocurrencies. One would expect this to affect global interest in Bitcoin and altcoins. According to hardware manufacturer Ledger, that is anything but the case. The company’s sales have been on par with numbers recorded throughout 2017. A small glimmer of hope for the future of cryptocurrencies.
Ledger Notes Solid Sales Figures
Keeping cryptocurrency funds safe can be done in many different ways. Using a hardware wallet is often the best choice, albeit a slightly costly one. Ledger is one of the industry leaders when it comes to hardware wallets. Contrary to expectations, the company isn’t suffering from a decline in popularity. While Bitcoin’s price has fallen, interest in hardware wallets has not. A remarkable trend, at least where Black Friday sales are concerned.
Ledger president Pascal Gauthier confirms sales are on the same level as 2017. That is a bit odd, as 2017 was a very bullish year for Bitcoin and altcoins. The year 2018 has been the exact opposite in every single regard. Even so, the demand for sure wallet solutions continues to grow. This is a positive sign of growth for the company and the cryptocurrency industry.
Surprisingly, it seems the growing demand doesn’t come from just consumers. Instead, Ledger notes a hefty increase in institutional clients. Particularly law enforcement agencies and investment funds are looking for custodial solutions. This also coincides with the launch of the company’s Ledger Vault service. It is a self-custody management solution for enterprise-grade clients.
Fostering Future Cryptocurrency Growth
This news shared by the hardware wallet manufacturer comes at an opportune time. Bitcoin continues to note lower highs and lower lows in the price department. Some experts still expect the value to hit $3,000 before the year is over. That is not a positive outlook by any means. Even so, the long-term belief in Bitcoin has seemingly not diminished in the slightest.
Additionally, this news confirms institutional interest is growing. Numerous companies want to attract these types of clients moving forward. So far, most efforts have not been overly successful. Ledger is, according to their own statistics, noting some successes in this regard. That further shows institutional-grade investors are paying attention to cryptocurrencies. When looking at the bigger picture, this may be a turning point for the industry.
Another aspect attributing to Ledger’s success is the growing focus on altcoin support. Rather than focusing on just Bitcoin and Ethereum, numerous altcoins are now supported. Noteworthy additions include Monero, XRP, and TRON, to name a few. Altcoin users also favor security over convenience to keep funds safe. As more hardware wallets are used, fewer funds are stored on exchanges. In the cryptocurrency industry, users need to take control over their assets at all times.
What do you think about Ledger’s continuing success? Let us know in the comments below.
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