Ledger has recently implemented transaction fees for its newly updated Multisig app, igniting significant backlash from the cryptocurrency community. This change coincides with the launch of the revamped Nano Gen5 device and the rebranded Ledger Wallet app. Critics argue that the new pricing structure threatens the principles of self-custody, while Ledger defends the fees as necessary for enhancing infrastructure and security features.
Multisig App Fees Draw Criticism
The updated Multisig app now includes a flat fee of $10 per transaction and a 0.05% variable fee for token transfers, in addition to standard network gas costs. The announcement was met with immediate criticism across social media platforms and industry publications. Some developers contend that the integration of Ledger’s backend—which facilitates signature coordination and includes features like Clear Signing and Transaction Check—centralizes control within a single interface. Ethereum developer pcaversaccio described this approach as creating a “single choke point” for wallet management, despite acknowledging the technical advancements involved.
Ledger’s Chief Technology Officer, Charles Guillemet, later clarified that earlier communications mistakenly referred to Multisig as free, attributing the error to a typo. Reports from the industry raised concerns about how a centralized coordination layer could compromise transparency in self-custody tools, even though the underlying Safe protocol remains open-source.
Rebranding and New Features
Alongside the Multisig updates, Ledger has rebranded its companion app from Ledger Live to Ledger Wallet. The introduction of the Nano Gen5, priced at $179, marks a significant advancement in Ledger’s hardware offerings. The new device features an E Ink touchscreen, Bluetooth 5.2, and NFC capabilities for recovery and security keys, while also supporting Clear Signing. Technology media coverage highlighted this shift from “hardware wallet” to “signer,” indicating Ledger’s strategy to broaden its scope beyond cryptocurrency transactions to encompass wider identity and authorization applications.
In terms of market positioning, Ledger asserts that it has sold over 8 million devices, securing more than 20% of global crypto assets. The company claims that none of its devices have been successfully hacked in real-world scenarios. Nonetheless, security researchers warn that hardware protection does not eliminate the risks associated with social engineering tactics, such as phishing attacks. Kaspersky has advised users to remain vigilant, as scams can lead to compromised funds if individuals disclose seed phrases or authorize malicious transactions.
Competition in the hardware wallet space has intensified, particularly following the announcement of Trezor’s Safe 7, which features a transparent, auditable secure element and claims to incorporate a “quantum-secure” update architecture. This development reflects an ongoing race to achieve a balance between transparency, usability, and resilience in cryptocurrency security solutions.
The new Multisig app has also come under fire for its lack of support for older Nano S devices, which do not have the memory capacity required for advanced signing features. This limitation has prompted some users to consider upgrading to newer hardware or exploring alternative coordination methods. For those who prefer open-source solutions, options such as Specter Desktop and Sparrow Wallet are available, allowing for multisig coordination with Ledger devices.
As Ledger continues to navigate community feedback and market competition, the long-term implications of these recent changes on user autonomy and security within the cryptocurrency ecosystem remain to be seen.
