If you have a Ledger Nano X, Nano S or Nano S Plus hardware wallet, you may not know you can also buy crypto directly from your device with Ledger Live. In this guide, we will explain how to buy crypto on Ledger Live, plus the supported cryptocurrencies and fees.
How to Buy Crypto with Ledger Live?
Why Buy Crypto with Ledger?
If you’re investing in crypto and you’re taking its security seriously, it’s likely you’ve 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 to withdraw.
Well, it may be interesting to hear that you could save yourself on withdrawal (or network fees) by bypassing this step altogether and 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 for 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 supports slightly fewer cryptos.
Both providers offer the most popular tokens such as Bitcoin, Ethereum, USDT, Dogecoin, Polkadot, etc.
Can I Sell on Ledger Live?
Yes, you can not only buy crypto using third pard providers, but you can also sell your crypto on Ledger Live.
Simply, 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’ll need to choose the third-party providers to sell your crypto with.
How to Buy Crypto with Ledger Live?
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 your firmware on your device is up to date.
Step 1: Choose Buy/Sell & Choose Provider
From within Ledger Live, choose “Buy/Sell” on the left side of the screen. You will then be presented with 2 options for buying, which is via their 3 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.
Step 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“.
Step 3: Unlock Your Ledger
You’ll then be prompted to connect and unlock your ledger device and open the required application.
Step 4: Enter the Amount & Buy Now
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“.
Step 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 terms and conditions.
Step 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.
Step 7: Go to Payment & Verify
Choose to go to payment. You’ll then be prompted to Verify that the 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.