Crypto Hardware Wallet Shortage Hits Australia

The recent crypto boom in Australia has led to a shortage of crypto hardware wallets throughout the country as suppliers struggle to keep up with the demand.

Popular wallet suppliers in Australia such as Coinstop have been selling out of popular devices such as Trezor and Ledger as soon as they hit the shelves. They have seen a big uptick in the number of orders throughout 2021 with approximately 3.3 million Aussies now owning crypto.

Every bull cycle brings in a new wave of crypto investors of which many are worried about their security. That puts a lot of pressure on hardware manufacturers to keep up with demand and we’ve seen time and time again that they are unable to match the demand. Throw on top Covid and the chip shortages, and we now have a perfect recipe for supply outstripping demand.

Chris Pavlesic, Coinstop

With the growing number of crypto hacks and scams in Australia, there is an apparent need for people to protect their investments in cold storage. It’s not just retail crypto investors who need protection; institutions and SMSF accounts should also consider secure forms of storage for their crypto holdings.

Supplies have also been impacted by Covid delivery logistics, with new devices such as Ledger Nano X taking up to two weeks to be delivered from the official manufacturer in France.

Crypto Hardware Wallet Options in Australia

If you would like to protect your crypto with a hardware wallet, these are your current options:

• Ledger Nano X (direct from manufacturer, order now, approximately 2 weeks delivery)
• Trezor Model T (sold out, ETA 2022)
• Ledger Nano S (in stock, order now, 2-3 day delivery)
• Trezor (sold out, but you can pre-order now; ETA October 2021, but not promised)
• Coolwallet Pro (in stock, order now, 2-3 day delivery)
• Bitbox02 (in stock, order now, supply going fast)

Important: Please only buy your hardware wallets from trusted suppliers and never buy from eBay or other online marketplaces, or run the risk of losing all your holdings. Crypto News has partnered with Coinstop as our trusted supplier in Australia. Use the code CRYPTONEWS at checkout for an A$5 discount on your order.

Remember that you can also order directly from the manufacturers, however the benefits of ordering through a local distributor are cheaper pricing, faster express shipping, and ongoing local support.

Further reading:

• Where to Safely Store Your Bitcoins & Alt Coins Guide
• CoolWallet Pro Hardware Card Review for Australia
• Top 10 Crypto Hardware Wallets for Australia