Ledger Multisig Fees Backlash Over $10 Flat/0.05% Charges
Ledger has rolled out a new multisignature interface in its Ledger Live app. The update imposes Ledger Multisig Fees consisting of a flat $10 charge per transaction and a 0.05% fee on token transfers, on top of blockchain gas costs. Many users and Ethereum developers, including pcaversaccio, slammed the fee model as a “cash grab” that risks centralizing custody and raising costs.
Ledger CEO Charles Guillemet later clarified that a typo in the documentation sparked confusion. The fees fund ongoing development. Meanwhile, legacy open-source multisig solutions on Bitcoin and Ethereum remain free. Market participants must note that Ledger Multisig Fees position the service as a premium option for institutional and high-net-worth clients.
On-device security stays robust against hacks. However, Kaspersky warns that phishing and social-engineering attacks remain a threat that fees cannot prevent. With over 7.5 million devices sold securing about 20% of global crypto value, traders should weigh enhanced multi-signature security against added transaction costs. Cost-sensitive users may prefer free open-source alternatives, especially in volatile markets.
Neutral
The introduction of Ledger Multisig Fees is a product-level change that increases transaction costs for users without altering blockchain fundamentals. In the short term, traders’ positions on cryptocurrencies like ETH and BTC are unlikely to shift based on hardware wallet fees alone. Long term, the fee model may drive cost-sensitive users toward free open-source alternatives, but institutional clients seeking enhanced security may continue with Ledger. Overall, market demand and asset prices should remain stable.