Benzinga - In a bid to enhance user experience, hardware wallet provider Ledger on Wednesday announced its integration with PayPal (NYSE: PYPL) to simplify the process of buying cryptocurrencies, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), for U.S.-based users via the Ledger Live companion app.
The integration positions PayPal as a new payment method within the 'Buy' section of Ledger Live.
As of now, this feature is exclusively available to users in the United States, in compliance with the respective state laws.
This collaboration is expected to benefit both seasoned crypto enthusiasts and those new to the digital currency realm.
By leveraging PayPal through Ledger Live, U.S.-based Ledger users can now directly purchase BTC, ETH, Bitcoin Cash (CRYPTO: BCH), and Litecoin (CRYPTO: LTC) using their linked PayPal accounts.
For users who have previously procured crypto via PayPal, the Ledger Live platform requires no additional verification.
Also Read: When Bitcoin Does This, Altcoins 'Will Start Popping Left And Right,' Analyst Predicts
All crypto purchases made through PayPal will be automatically transferred to the user's Ledger hardware wallet, ensuring the same level of security Ledger is known for.
Pascal Gauthier, Chairman and CEO of Ledger, expressed his enthusiasm about the partnership, stating, “Both PayPal and Ledger are focused on creating secure, seamless, and fast transactions no matter where you are in the world. We’re combining the uncompromising security of Ledger with PayPal’s leadership in secure payments technology to help facilitate a secure and seamless platform for user crypto transactions."
For individuals who haven't ventured into crypto purchases via PayPal, they will need to set up a PayPal account or undergo a KYC verification process.
Read Next: Coinbase Gets Federal Approval For New Futures Offering: Set To Tap Into 75% Of Global Crypto Trading
Join Benzinga's Future of Digital Assets in NYC on Nov. 14, 2023 to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
Photo: Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.