Crypto hardware wallet provider Ledger recently announced a new multisig interface that has been widely welcomed as a technological improvement but criticized for introducing a new fee structure that some users have called a cash grab.
The Ledger MultiSig application will charge users a flat $10 fee for all transactions except token transfers, which will incur a 0.05% variable fee. These fees come in addition to standard blockchain network gas fees, which are independent of the ledger.
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Some also noted an apparent contradiction between Ledger CTO Charles Guilmette’s emphasis on the clear signatures required for secure transactions and the company’s decision to add recurring fees for the same features.
Discrepancies between Guilmette’s comments and Ledger’s documentation were also noted, with his comments indicating that MultiSig is a paid service, while the company’s materials indicate that it is free. Guilmette later clarified that the mention of it being free in a previous post was a typo.
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Ledger’s market access and safety record
Ledger is considered the largest hardware wallet provider for cryptocurrency users, having sold over 7.5 million devices in its ten-year history. The company claims that its wallets hold approximately 20% of the global cryptocurrency market by value.
Hardware wallets like Ledger allow users to maintain self-custody of their digital assets, a core tenet of the cryptocurrency movement that emphasizes ownership and control without relying on centralized exchanges.
While hardware wallets are significantly more resistant to typical online hacks – and Ledger reports that none of its devices have been breached in the field – Kaspersky’s security analysts warn that users remain exposed to phishing schemes and social engineering attacks. These scams often trick individuals into revealing their private keys or recovery phrases, effectively bypassing the physical security of the wallet.
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