Ledger, the world’s leading crypto hardware wallet provider, has launched a new multisig interface that’s dividing the crypto community. While some users applaud the update as a technical upgrade to enhance security and usability, others are criticizing it for introducing what they call an unnecessary and costly fee structure.
The Ledger Multisig application now imposes a flat $10 fee for most transactions, while token transfers come with a 0.05% variable fee. These charges are added on top of regular blockchain gas fees, making transactions potentially more expensive for active users.
Mixed Reactions from the Crypto Community
Reactions to the update have been mixed. Many users believe that Ledger’s multisig improvements strengthen wallet functionality and simplify transaction management. However, others argue that the new pricing model goes against the decentralized principles that originally shaped the crypto industry.
Ethereum developer pcaversaccio voiced concerns that Ledger is moving toward a centralized model, claiming the company is “acting as a central authority in crypto,” which runs contrary to the Cypherpunk ethos of decentralization and privacy.
Adding to the controversy, discrepancies between CEO Charles Guillemet’s public statements and Ledger’s official documentation have caused confusion. While Guillemet suggested the multisig feature would be free, the documentation clearly outlines the new fees — leaving many users frustrated and questioning the company’s transparency.
Ledger’s Market Dominance and Ongoing Security Concerns
Despite the backlash, Ledger continues to hold a dominant position in the market, reportedly securing around 20% of all global cryptocurrency assets. The company remains a trusted name in hardware wallets, especially for users prioritizing offline key storage.
However, security experts warn that no device is completely immune. Even with Ledger’s advanced encryption, users are still at risk of phishing scams and social engineering attacks that can expose their private keys. Experts urge users to remain cautious, double-check URLs, and avoid sharing recovery phrases under any circumstances.
As Ledger navigates the backlash from its new multisig interface, the debate highlights an ongoing tension in the crypto world — balancing innovation and usability with the community’s deeply rooted commitment to decentralization and transparency.
