This new integration allows users to buy cryptocurrencies directly through the Ledger Live companion app using their PayPal accounts, Ledger said in a Wednesday (Aug. 16) press release.
Ledger users in the U.S. can now directly purchase bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC) using their linked PayPal accounts, the release said. The purchased cryptocurrencies will be automatically sent to the user’s Ledger hardware wallet.
For those who have already bought cryptocurrencies with PayPal, the process is straightforward. Users simply need to open the Ledger Live app, navigate to the ‘Buy’ section, select the desired currency and amount, specify their country (currently limited to the U.S.), and choose PayPal as the payment method. They will then be redirected to the PayPal interface to log in and confirm the transaction. Once confirmed, the digital assets will be automatically transferred to the user’s Ledger device.
Ledger Live offers a range of features beyond buying cryptocurrencies, according to the press release. Users can sell, swap, stake and lend their digital assets, as well as explore the Internet of Value with ownership and security. The app also provides access to an expanding list of decentralized applications (DApps) in the Discover section, with private keys automatically safeguarded on the Ledger device.
Ledger Chairman and CEO Pascal Gauthier said in the release: “Both PayPal and Ledger are focused on creating secure, seamless, and fast transactions no matter where you are in the world.”
Gauthier added, “This integration provides greater optionality while giving users peace of mind converting dollars into crypto.”
PYMNTS research published in August 2022 found that 56% of consumers expressed at least “mild” interest in buying crypto in the next year. Among millennials, 26% said they were “extremely” likely to buy crypto in the next year, according to “Paying With Cryptocurrency,” a PYMNTS and BitPay collaboration.