In a recent report published on August 16th, Ledger, a prominent hardware wallet manufacturer, announced the integration of their Ledger Live application with PayPal. This integration allows users in the United States with verified PayPal accounts to directly purchase Bitcoin, Ethereum, Bitcoin Cash, and Litecoin through Ledger Live without the need for additional verification.
Previously, Ledger Live had enabled cryptocurrency purchases through partners like MoonPay, Transak, Ramp, Simplex, Loopipay, and Mercuryo, and PayPal is the latest addition to this list.
When users buy cryptocurrency through Ledger Live and make payments using PayPal, the funds are immediately sent to their wallets without the need for any withdrawal steps.
Pascal Gauthier, the CEO of Ledger, stated that combining Ledger Live with PayPal will simplify cryptocurrency transactions while ensuring security. He said, “We are merging Ledger’s superior security with PayPal’s leadership in payment technology to create a seamless experience for users in cryptocurrency transactions. We are committed to simplifying the world of digital currency, and PayPal is committed to making money transfers easy, reliable, and as valuable as possible.”
Since 2016, Ledger has sold over 6 million Ledger Nano hardware wallets, establishing its position as a leader in hardware wallet manufacturing.
Recently, in May 2023, Ledger sparked controversy by introducing a secret recovery phrase storage service, leading to misunderstandings among users. However, they have worked to address this issue by clarifying the operations of the new wallet.
As for PayPal, a major player in the payment industry, on August 7th, they launched a new stablecoin called PYUSD, creating significant buzz within the cryptocurrency community.