Ledger teams up with Coinbase to offer direct to cold storage crypto purchases Ledger teams up with Coinbase to offer direct to cold storage crypto purchases
Coinbase Pay integration with Ledger Live will simplify crypto transactions for self-custody enthusiasts.
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Updated: Feb. 13, 2024 at 4:48 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Leading self-custody wallet Ledger has joined forces with Coinbase to enhance accessibility for self-custody users seeking to purchase cryptocurrencies.
According to a Feb. 13 statement shared with CryptoSlate, this collaboration introduces the integration of Coinbase Pay into Ledger Live, simplifying the crypto purchasing process and broadening access for new users.
This integration facilitates a pathway for Ledger users to purchase digital assets through their Coinbase accounts and directly withdraw funds to their wallets at no additional costs.
The development significantly addresses the “cumbersome process” associated with transferring assets from an exchange into a self-custody wallet.
The firms stated that the recent launch of Bitcoin exchange-traded funds (ETFs) will foster greater crypto adoption among new users, many of whom may eventually transition to self-custody solutions. Therefore, the integration would help enhance user experiences and further Ledger’s growth trajectory alongside Coinbase’s mission to empower the crypto economy.
Ian Rogers, the chief experience officer at Ledger, emphasized the shared commitment between the firms to simplify crypto usage while prioritizing customer security. He added that Coinbase users can now seamlessly purchase crypto within Ledger Live, mirroring the experience for Ledger users purchasing through Coinbase.
Meanwhile, Lauren Dowling, the head of product at Coinbase Developer Payment Services, expressed enthusiasm for the partnership, stating:
“We’re delighted to collaborate with Ledger to allow users to more seamlessly purchase crypto with Coinbase Pay straight into their self-custody solution.”
Ledger is one of the leading hardware wallet manufacturers in the crypto industry, with over 6 million devices sold across 200 countries. The company said it serves over 100 financial institutions and approximately 20% of the world’s crypto is secured through its devices.
Last December, the compromise of its ConnectKit library resulted in the theft of approximately $600,000 in digital assets.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Ledger
Founded in 2014, Ledger is a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications.