Ledger to simplify crypto purchases with Coinbase integration

The collaboration will allow users to receive their purchased crypto directly to their Ledger devices.

Hardware wallet provider Ledger and crypto exchange Coinbase have announced a collaboration to streamline crypto purchases and create an easier way to transfer assets from an exchange into self-custody.  

In an announcement sent to Cointelegraph, the Ledger team highlighted that Coinbase’s on-ramp solution, Coinbase Pay, will be integrated into the Ledger Live application. This allows users to transfer their existing crypto asset holdings and transact directly from their desktop or mobile devices. This also means users can receive their crypto purchases directly on their Ledger devices.

The team described the previous process of transferring crypto from an exchange and into self-custody as “a cumbersome process that left users vulnerable to potential errors.” In a statement, Ian Rogers, chief experience officer at Ledger, told Cointelegraph that before the collaboration, buying crypto and transferring it to a self-custody wallet was “a tedious process.”

However, with the integration, Rogers believes that the process has been simplified, even comparing the integration to how travel agency Skyscanner simplified booking travel. Rogers explained:

“This integration makes it much easier for crypto users to buy through Coinbase and have the funds directly deposited to the secure self-custody of their Ledger.”

When asked if the team foresees any changes in the demand for self-custody, Rogers said that they believe there will be different wallets, similar to how people have different bank accounts. He explained that the collaboration with Coinbase shows consumers that they have a choice. Rogers added that the integration also makes the experience more simple for those new to self-custody. “At the end of the day, you have the option to choose digital ownership through self-custody.”

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According to the Ledger team, the crypto space is beginning a new cycle, driven by the recent launch of spot Bitcoin (BTC) exchange-traded funds (ETFs). Ledger believes that this will bring new users into the crypto space. While such users may begin their crypto journey with the ETFs, Ledger hopes these new users will eventually choose self-custody, which the wallet provider describes as “the true use case for crypto.”