Coinfeeds Daily → Ledger Users Can Now Buy Assets From Coinbase 'Locally'

Ledger Users Can Now Buy Assets From Coinbase 'Locally'

Published: Feb 14, 2024 | Last Updated: Mar 17, 2024
Moyi Dang
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New integration allows direct crypto purchases into Ledger wallets, enhancing user control and security without extra fees.

In a significant development for cryptocurrency enthusiasts, two major players in the digital asset space, Ledger and Coinbase, have joined forces to offer a seamless experience for users looking to purchase and secure their cryptocurrencies. This collaboration brings together the convenience of buying crypto with the security of a hardware wallet, aiming to empower users with greater control over their digital assets.

Direct Purchases with Enhanced Security

With the integration of Coinbase Pay into the Ledger Live app, users can now buy digital assets directly from Coinbase without the need to transfer them out of their Ledger hardware wallet. This means that users can enjoy the ease of purchasing cryptocurrencies using various payment methods such as ACH transfers, Visa, and Mastercard, while immediately securing their assets in the safety of their Ledger device.

Benefits of the Ledger-Coinbase Integration

The partnership between Ledger and Coinbase offers several advantages to users. Firstly, it simplifies the process of acquiring and storing crypto by eliminating the extra steps usually required to transfer assets from an exchange to a hardware wallet. Secondly, the integration ensures speed and convenience without compromising on security, as the purchased assets are sent directly to the user's Ledger device. Moreover, this service is provided with no additional fees, making it an attractive option for cost-conscious crypto buyers.

Empowering Self-Custody

Both Ledger and Coinbase have expressed their commitment to enhancing the self-custody of crypto assets. Ledger's CEO, Ian Rogers, highlighted the importance of users having control over their digital assets and hinted at future features, such as the ability to set up recurring buys on Coinbase through the Ledger Live app. This move is particularly significant in light of the ongoing debate about the role of centralized exchanges in the industry and the importance of self-custody for ensuring the safety and sovereignty of users' assets.

Availability and Future Prospects

The feature is currently available in multiple regions, including the US, UK, EU, and others. This global reach reflects the companies' goals of providing easy-to-use crypto services to a wide audience. As the partnership evolves, users can expect additional features that will further streamline the process of buying and securing cryptocurrencies, reinforcing the value proposition of self-custody in the digital asset ecosystem.

In conclusion, the integration of Coinbase Pay with Ledger Live represents a significant step forward in the cryptocurrency space, offering users a practical and secure way to manage their digital assets. This collaboration not only simplifies the crypto purchasing process but also aligns with the broader industry goal of empowering individuals to take charge of their financial future in the ever-evolving world of blockchain and digital currencies.

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