Ledger, a leading security company and PayPal, a leader in global payments, have entered a partnership that will make it easier for PayPal users to access the crypto space. The partnership announced by Ledger, will provide a secure and user-friendly way to buy crypto for both experienced and beginner users.
This is part of the vision to bring secure, seamless, and fast transactions to people in every part of the world, which both Ledger and PayPal share.
“Both PayPal and Ledger are focused on creating secure, seamless, and fast transactions no matter where you are in the world. PayPal has remained at the forefront of the digital payment revolution for more than 20 years, and we are thrilled to come together in this next period of asset innovation with our integration,” said Pascal Gauthier, Chairman & CEO of Ledger.
Ledger is recognized as a top security company in the crypto industry. Its hardware wallets, the Ledger Nano series, are the most popular for securely storing private keys. PayPal is also a global giant known for secure international payments, and remains a leader till this day.
By harnessing the security of Ledger and the payment technology of PayPal, the two companies seek to create a secure, seamless and easy platform for users to conduct transactions affordably.
“We’re combining the uncompromising security of Ledger with PayPal’s leadership in secure payments technology to help facilitate a secure and seamless platform for user crypto transactions. Ledger is committed to simplifying the world of crypto, and PayPal is committed to making the movement of money as simple, secure, and affordable as possible. This integration provides greater optionality while giving users peace of mind converting dollars into crypto,” Gauthier added.
Using the platform
The platform is easy to use for everyone, whether experienced or a beginner. However, only eligible U.S. users can access the service for now. They will be able to directly buy BTC, ETH, BCH and LTC using their linked PayPal account through the Ledger Live app.
If you have used your PayPal account to buy crypto in the past, you’ll be able to buy crypto without needing any further verification. Just follow the steps below.
Open Ledger Live and navigate to the ‘Buy’ section.
1 Select your currency and enter the amount you wish to purchase.
2. Specify your country (currently limited to the U.S.).
3. Choose PayPal as your preferred payment method.
4. You will be redirected to the PayPal interface, where you can log in and confirm the transaction.
5. Once the transaction is confirmed, your digital assets will be automatically sent to the secure environment of your Ledger device.
For those who haven’t used their PayPal account to buy crypto before, a KYC verification is required. This may involve providing information including government-issued credentials.
PayPal facilitating crypto growth
PayPal has done quite a lot in the crypto space this year, the highpoint of which was the launch of its first Ethereum-based stablecoin, PYUSD, which experts say could become a major way to mainstream adoption of cryptocurrencies.
The partnership with Ledger is another big step through which it is bringing its users into the crypto space by encouraging them with a seamless way to buy crypto assets using their PayPal accounts. The payment giant may still have more to unveil in the future in the crypto space.