Price protection app Earny has recently revealed that the crypto hardware wallet, Ledger Nano, was US state Nevada’s most popular purchase over the 2017 Christmas season. The wallet is one of the cryptocurrency industry’s most favored along with Trezor and Keepkey.
Although the published data did exclude smart home devices, the survey demonstrates that the popularity of the device in crypto-friendly Nevada is growing. At least in some states, user interest in cryptocurrency has some momentum. The data reflected purchases made between November 2017 and February 2018 with a range of frequent purchases throughout the country from lava lamps to glue.
Hardware wallets such as the Ledger Nano have grown in popularity as they provide a far more secure storage of crypto assets. This is due to robust safety features for storage and for securing digital payments. The Nano connects to any computer with a secure LED display which requires users to check and double check each transaction with a single tap.
Such wallets are a preferred way of storing cryptocurrencies, as platform-stored assets could be susceptible to online cyber vulnerabilities.
It is not surprising perhaps that Nevada’s crypto trading public has warmed to the Ledger as the state was the first in the US to block taxation on blockchain transactions. The blockchain-friendly bill was introduced last year and received unanimous Senate approval.
The US is starting to becoming increasingly Bitcoin-friendly, state by state, following recent enthusiasm for cryptocurrency shown by both Nevada and Arizona. Along with other states such as Wyoming and Tennessee, numerous crypto-friendly bills have been introduced in houses of state legislatures around the country.
A reflection of this interest on a federal-state level was Washington’s recent SEC and CFTC hearings on 6 February this year which was focussed on cryptocurrency and blockchain issues. Chair of the SEC, Jay Clayton, although not a crypto enthusiast, said that the role of virtual currencies in a modern financial ecosystem “couldn’t be denied”.