Hardware wallet provider Ledger and cryptocurrency exchange Coinbase have announced a collaboration aimed at integrating Coinbase Pay into Ledger Live, a move aimed at enhancing the efficiency and security of cryptocurrency transactions.
This collaboration aims to eliminate the complexities users previously faced and highlight a shared commitment to user-friendly solutions, propelling the mainstream adoption of cryptocurrencies.
The pathway to simplify Crypto Transactions and Self-Custody
We’re excited to announce that @Coinbase Pay is now available as a buy provider through Ledger Live!
Use your Coinbase login to buy crypto, and have it immediately secured with your Ledger 🔐
Read more: https://t.co/aUGWkA78gI pic.twitter.com/dkYhnPEFic
— Ledger (@Ledger) February 13, 2024
With the integration of Coinbase Pay into Ledger Live, users can seamlessly conduct transactions directly within the Ledger Live interface, streamlining the process of buying and transferring cryptocurrencies. This integration enhances convenience and security, reducing the risk of errors in fund withdrawal or wallet address copy-pasting.
The collaboration allows users to transfer their existing crypto asset holdings and conduct transactions directly from their desktop or mobile devices. Furthermore, users can receive their crypto purchases directly on their Ledger hardware wallets.
The partnership signifies that while many crypto purists advocate for self-custody of assets, centralized exchanges like Coinbase still play a significant role in the industry. The Ledger team emphasized that the previous process of transferring crypto from an exchange into self-custody was cumbersome and potentially vulnerable to errors.
According to Ian Rogers, the Chief Experience Officer at Ledger, the previous process of buying crypto and transferring it to a self-custody wallet was cumbersome and left users vulnerable to potential errors. However, with this collaboration, the process has been significantly simplified. Rogers likened the integration to how travel agency Skyscanner simplified the booking process for travelers.
“This integration makes it much easier for crypto users to buy through Coinbase and have the funds directly deposited into the secure self-custody of their Ledger.”
Rogers emphasized the collaboration’s focus on user satisfaction, stating,
“Both Ledger and Coinbase are focused on making crypto easy to use and keeping consumers secure.”
With this integration, crypto users can now purchase assets through Coinbase and have them directly deposited into their secure self-custody wallets provided by Ledger. This streamlined approach aims to make the experience of managing crypto assets more user-friendly, especially for those new to self-custody.
Leveraging Security and Convenience
Ledger, founded in Paris in 2014, is a global platform for digital assets and Web3, renowned as the world leader in critical digital asset security and utility. With over 6 million devices sold to consumers across 200 countries and available in over 10 languages, Ledger serves more than 100 financial institutions and brands, safeguarding approximately 20% of the world’s crypto assets.
Since their partnership began in 2023, Ledger and Coinbase have been pioneers in providing secure and user-friendly solutions for crypto enthusiasts. The integration of Coinbase Pay into Ledger Live not only simplifies the purchasing process but also enhances security, enabling users to receive crypto purchases directly on Ledger devices.
When asked about potential changes in the demand for self-custody, Rogers stated that they anticipate the emergence of different types of wallets, similar to how people have different bank accounts. The collaboration with Coinbase emphasizes consumer choice, empowering users to opt for digital ownership through self-custody if they so choose.
“At the end of the day, you have the option to choose digital ownership through self-custody,” Rogers stated.
Lauren Dowling, Head of Product at Coinbase Developer Payment Services, echoed this sentiment, highlighting Coinbase’s dedication to providing trusted onramps and infrastructure for crypto enthusiasts.
This integration offers unparalleled convenience to users by enabling direct receipt of crypto purchases from Coinbase on Ledger devices, eliminating the need for off-platform transactions. Users can retain their preferred payment methods in Coinbase, including ACH, Visa, Mastercard, and Maestro, enhancing the overall user experience. The integration of Coinbase Pay into Ledger Live simplifies the crypto purchase process, allowing users to buy crypto directly within Ledger Live and withdraw to Ledger devices in just a few clicks.