- Ledger integrates Coinbase Pay, allowing users to directly buy crypto onto their hardware wallet without extra fees.
- The feature is currently available in eight countries, with more likely to follow.
- The collaboration removes the need for manually entering a wallet address.
- Integration caters to both new entrants and institutional investors seeking secure storage solutions.
Crypto payment solutions are a key pillar of the industry. Combining safe storage of digital assets with an easy way to access, send and spend them is pivotal to inviting new entrants to the market. Improved accessibility has been a clear focus of several big-name wallet companies. Now, Ledger has thrown its hat in the ring by partnering with American crypto exchange Coinbase. Specifically, Ledger devices are integrating Coinbase Pay, allowing customers to purchase crypto directly onto their hardware wallets without additional fees.
Feature Available In Eight Countries, More to Come
The partnership with Coinbase and Ledger could be a big deal for users of the hardware device, as it significantly streamlines the investment process. It may be especially enticing for beginners who would prefer to purchase their digital currencies as part of a long-term strategy, rather than those wanting to actively manage their portfolio through trading. For example, users now no longer need to input a wallet address when moving assets from Coinbase to Ledger – a process where a typo can lead to complete loss of coins.
The pairing also allows users to purchase digital currencies at the same price they would from Coinbase. This is a huge plus, as most wallets that integrate with third-party exchanges charge exorbitant fees.
For now, the feature will only be available for residents in eight nations – including the United States, Australia and the UK. However, it will likely be rolled out to more customers over the next year.
The buying process is simple:
- Existing Ledger customers can access the Ledger Live app.
- Next, click “Transfer”, and then “Buy”.
- Select “Compare providers” and navigate the list until you find the crypto you wish to purchase.
- Enter the desired amount of crypto and confirm your country.
- Select a payment method and select “Find eligible providers”.
- Finally, click “Coinbase” and confirm the transaction.
With crypto ETFs bringing in all manner of new, high-profile investors to the scene, self-custody has never been more important. Institutions managing assets on behalf of others will in particular seek secure storage solutions – and hardware wallets are the most secure of them all.