Popular cryptocurrency wallet, Ledger has rolled out an updated version of their Ledger Live application. This lets you buy bitcoin and other cryptocurrenices directly inside the Ledger Live app.
What does this means for the end users? This means you will not have to send BTC to exchanges to buy cryptocurrencies or sell crypto for BTC and then, send back to Ledger.
This feature is made enabled by a cryptocurrency exchange service called Coinfy that is now baked directly into the Ledger Live application.
Pick your favorite cryptocurrency and buy it directly using credit card, bank transfer or stable coins like USDT.
Fees are same as major exchanges – 4.5 percent for credit card users and 1.7% for bank transfers.
This means there is no need to send cryptocurrencies to exchanges just to buy other cryptos. Just exchange them directly from Ledger Live application.
Ledger offers two hardware wallets – Ledger Nano X and Nano S with latter being the cheaper one. There is no reason not to own a hardware wallet in 2020 as they offer much better security than software wallets.
Keep in mind not all countries let you buy crypto directly.
Here are list of supported countries – Australia, Brazil, Canada, Dutch Caribbean, Faroe Islands, Guernsey, Gibraltar, Greenland, Guadeloupe, Hong Kong, India, Indonesia, Isle of Man, Jersey, Malaysia, New Caledonia, New Zealand, Turkey, Philippines, Saint Barthélemy, St. Pierre And Miquelon, United States Wallis And Futuna Islands.
I am from Brisbane, Queensland and I hold post of Associate Editor at Cryptocoindaddy.