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Ledger reveals integration with U.S. PayPal, enabling users to purchase cryptocurrency directly through the app.
Hardware wallet producer Ledger has announced the integration of its Ledger Live software with PayPal, as stated in a joint release from both companies on Aug. 16. This integration enables U.S. residents with verified PayPal accounts to purchase Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) directly through Ledger Live without requiring additional verification, according to the announcement.
Ledger Live software and device. Source: Ledger
Previously, Ledger Live permitted users to acquire cryptocurrency through partners such as MoonPay, Transak, Ramp, Simplex, Loopipay, and Mercuryo. PayPal is the latest addition to this roster. When users buy cryptocurrency via PayPal through Ledger Live, it is instantly transferred to the user’s wallet, eliminating the need for the user to initiate a “withdrawal” process, as noted in the announcement.
Ledger’s chairman and CEO Pascal Gauthier stated that the integration of Ledger Live with PayPal will streamline crypto transactions without sacrificing security:
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“We’re combining the uncompromising security of Ledger with PayPal's leadership in protected payments technology to help facilitate a 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, reliable and affordable as possible.”
Ledger asserts that it has sold over 6 million Ledger Nano hardware wallets since 2016, positioning it among the leading hardware wallet manufacturers. The company faced some backlash in May when it introduced a secret recovery phrase storage service that caused confusion among users. The team later sought to address the criticism by clarifying the functionality of their wallet.
On Aug. 7, PayPal announced the launch of a stablecoin named PYUSD, but the Aug. 15 announcement does not include PYUSD as one of the cryptocurrencies that will be available on Ledger Live at this time.
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Update (August 16, 7:35 AM PST): This article has been updated to clarify the number of Ledger units sold.
