Hardware wallet provider Ledger and cryptocurrency exchange Coinbase have announced a partnership aimed at simplifying crypto purchases and facilitating the transfer of assets from exchanges to self-custody.
In a statement to Cointelegraph, the Ledger team emphasised that Coinbase’s on-ramp solution, Coinbase Pay, will be seamlessly integrated into the Ledger Live application.
This integration enables users to transfer their existing crypto holdings and conduct transactions directly from their desktop or mobile devices, with the added convenience of receiving crypto purchases directly on their Ledger devices.
Describing the previous process of moving crypto from an exchange to self-custody as “a cumbersome process that left users vulnerable to potential errors,” Ian Rogers, Chief Experience Officer at Ledger, remarked that before the collaboration, buying and transferring crypto was “a tedious process.”
However, Rogers expressed confidence that the integration has significantly simplified the process, likening it to the way travel agency Skyscanner simplified travel bookings.
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He elaborated, stating, “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.”
Addressing potential changes in the demand for self-custody, Rogers suggested that, similar to different bank accounts, there will be various wallet options.
He indicated that the collaboration with Coinbase demonstrates to consumers that they have a choice. Rogers further noted that the integration makes the experience more straightforward for newcomers to self-custody, affirming, “At the end of the day, you have the option to choose digital ownership through self-custody.”
According to the Ledger team, the crypto industry is entering a new phase driven by the recent introduction of spot Bitcoin exchange-traded funds (ETFs). Ledger anticipates that this development will attract new users to the crypto space.
While these users may initially engage with ETFs, Ledger hopes they will eventually opt for self-custody, which the wallet provider identifies as “the true use case for crypto.”
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