Hardware wallet manufacturer Ledger has integrated its Ledger Live software with PayPal, according to an Aug. 16 joint announcement by the two companies. The integration allows U.S. residents with verified PayPal accounts to buy Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) directly through Ledger Live with no extra verification, the announcement stated.
Ledger Live previously allowed users to buy crypto through partners MoonPay, Transak, Ramp, Simplex, Loopipay and Mercuryo. PayPal is the newest addition to this list. When a user purchases crypto through PayPal via Ledger Live, it is immediately sent to the user’s wallet, and no “withdrawal” process needs to be initiated by the user, the announcement stated.
Ledger chairman and CEO Pascal Gauthier claimed that combining Ledger Live with PayPal will make crypto transactions simpler while also not compromising on security:
“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 claims to have sold over 6 million Ledger Nano hardware wallets since 2016, making it one of the top hardware wallet manufacturers. It came under some controversy in May, when it launched a secret recovery phrase storage service that led to confusion among users. The team later attempted to hose down criticism by clarifying how their wallet works.
PayPal announced on Aug. 7 that it is launching a stablecoin called PYUSD, but the Aug. 15 announcement does not list PYUSD as one of the coins that will be available on Ledger Live just yet.
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Update (August 16, 7:35 AM PST): This article has been updated to clarify the number of Ledger units sold.