In this beginner’s guide, we will explain how to buy crypto on Ledger Live, plus the supported cryptocurrencies and fees.
If you have a Ledger hardware wallet, you may not know you can also buy crypto directly from your Ledger device with the Ledger Live feature.
So, let’s jump into this guide on buying crypto with your Ledger hardware wallet and see if this is the right option for you to purchase your crypto.
How to Buy Crypto with Ledger Live
In this step-by-step guide, we will walk you through the seamless process of buying crypto securely and effortlessly using Ledger Live. As a trusted solution for managing Ledger hardware devices, Ledger Live integrates with trusted APIs like Coinify, allowing you to purchase crypto using your credit or debit card directly within the app.
To get started buying with Ledger Live, you’ll first need to ensure that you are running the latest version of Ledger Live and also that the firmware on your device is up to date.
Total Time: 15 minutes
1. Choose to Buy/Sell & Choose Provider
– From within Ledger Live, choose “Buy/Sell” on the left side of the screen. You will then be presented with two options for buying, which are via their three-party providers; MoonPay or Coinify.
Whichever you choose, the process will be very similar. However, in this example, we’ll choose to purchase using Coinify.
2. Choose Your Crypto & Account
– Ensure you are on the buy tab at the top of the screen, and then choose the crypto you want to buy from the list.
– Then, you’ll need to select the Ledger account to receive your coins into. You can either select this from the list or create a new account for your crypto to go into. Then choose “Continue”.
3. Unlock Your Ledger Device
– You’ll then be prompted to connect and unlock your ledger device and open the required application.
4. Enter the Amount of Crypto you want to Buy
Enter the amount of crypto you’d like to buy. The minimum you can buy with GBP is £50.15 pence, and it will then show the estimated amount of crypto you’ll receive and the rate. Choose “Buy Now”.
5. Create an Account or Login
– You’re then prompted to log in (if you’ve already got an account) or to create a new one. Where you’ll need to enter your email address, create a strong, secure password, confirm your residence country and agree to Coinify’s terms and conditions.
6. Choose your Payment Method
– Next, choose your payment method. The payment methods that are available to you will all depend on the amount your buy. When you are happy, you can “Continue”.
– Then Agree to their terms & conditions.
7. Go to Payment & Verify
– Choose to go to payment. You’ll then be prompted to Verify that the crypto wallet address shown on the screen in Ledger Live matches the one on your Ledger device. To confirm, press the right button to select Approve, then both buttons to validate on your device.
– If it’s your first time ordering, you may then need to enter further details to verify your identity, but your funds will be reserved in the meantime.
– Once you’ve completed all the steps, it’ll let you know that they’re now sending your crypto. Plus, it’ll let you know how much you’ve purchased. Your purchase will then be complete.
You’re newly purchased crypto will then appear within your crypto account shown on Ledger Live.
What is Ledger Live?
Ledger Live is a user-friendly and secure app designed to manage your Ledger hardware device. It is free to download and compatible with all Ledger devices, including the Nano S Plus, Nano X, and Ledger Stax.
As a one-stop solution, Ledger Live allows you to buy, sell, and exchange cryptocurrencies, grow your assets, and manage NFTs, all in a single app. Over 4 million people trust Ledger Live for their web3 needs, making it an excellent choice for beginners and experienced users alike.
Why Buy Crypto with Ledger?
If you’re investing in crypto and you’re taking its security seriously, you’ve likely got a hardware wallet.
In the world of crypto, there is a famous saying, not your keys, not your crypto and with the likes of a hardware wallet (like a Ledger), you not only have control, but these are also stored securely offline.
You must have heard about centralised exchanges being hacked and that fees on these exchanges can also be high, especially for withdrawal.
Well, it may be interesting to hear that you could save yourself on withdrawal (or network fees) by bypassing this step altogether instead of buying your crypto directly within the safety of your Ledger.
Don’t already have a Ledger? Check out our deals and promotions page for the latest offers.
What are the Fees to Buy Crypto on Ledger Live?
When buying your crypto with Ledger Live, you will be charged a fee by their third-party providers. Plus, you will also need to pay a transaction fee which is paid to the miners. These are both variable, depending on the provider, currency, payment method and network congestion for the transaction fees.
With Coinify, the rate for credit/debit card payments in GBP is 4.25%, with a minimum of £4.49. When I made a minimum purchase of £50.15 of Bitcoin with Coinify, the network fee then also cost £0.95.
These fees are considered pretty high, but if you were trading on an exchange, you’d be paying trading fees and possibly withdrawal fees, too, so you’d need to weigh up how much this will eat into your profits.
What Crypto Can I Buy on Ledger Live?
The cryptocurrencies that you can buy on Ledger Live will all depend on the third-party provider you choose. With Ledger Live, you can purchase your crypto direct with MoonPay or Coinify.
MoonPay allows you to buy from anywhere, you can buy over 40 different cryptos, plus you can pay with a credit or debit card or via SEPA.
Coinify offers to purchase from anywhere and also allows payment via card or SEPA too; however, it supports slightly fewer cryptos.
Both providers offer the most popular tokens, such as Bitcoin, Ethereum, USDT, Dogecoin, Polkadot, etc.
Our step-by-step guide on “How to Buy Crypto with Ledger Live” has given you the essential knowledge and tools to buy crypto using your hardware wallet confidently. By following the outlined steps, you have not only gained a deeper understanding of the secure and user-friendly Ledger Live platform but also learned how to manage your digital assets within the Ledger ecosystem effectively.
As you continue to explore the world of cryptocurrencies, remember that Ledger Live serves as a trusted gateway designed to simplify and secure your experience while empowering you to take control of your financial future.
Can I Sell Crypto on Ledger Live?
Yes, you can sell crypto with your Ledger hardware wallet using Ledger Live.
To do this, choose the buy/sell tab on the left of the screen, and then you’ll need to make sure you are on the “Sell” tab at the top of the screen. Again, you must choose the third-party providers to sell your crypto with.
Can I use my Ledger without Ledger Live?
Yes, you can use your Ledger hardware wallet without Ledger Live. However, you will need to access your crypto via alternative methods.
Can you buy and sell crypto on Ledger Live?
Yes, you can buy and sell crypto on Ledger Live. Ledger Live makes the process of buying crypto secure, flexible, and easy. You can choose among different payment providers and methods. Once you buy crypto through Ledger Live, it will automatically be sent to the safety of your Ledger hardware wallet.