Binance and Ledger Partner to Foster Crypto Accessibility
Binance has signed a partnership deal with Ledger to make it easier for their verified users to buy Bitcoin (BTC) and other cryptocurrencies, according to a November 2, announcement.
Binance Joins Forces with Ledger
According to current statistics, it is estimated that more than one billion people use Bitcoin and other cryptocurrencies across the world today. While that may seem like an impressive milestone already for the nascent crypto space, considering the fact that only 300 million people used blockchain-based digital currencies as of 2021, the industry still has a long way to go before mainstream adoption becomes a thing.
As part of its mission of fostering accessibility and cryptocurrency adoption, Binance, the world’s number one crypto exchange and leading Web3 ecosystem, has joined forces with Ledger, the company behind the highly secure hardware wallet, to further make crypto purchases a seamless process for members of both ecosystems.
Per an announcement by the Binance team, the alliance will make it possible for verified Binance account holders to buy crypto through Ledger directly with their bank debit and credit cards. New users will also be able to create their Binance account directly in the Ledger Live app.
Binance wrote:
“Binance exists to make crypto available to as many people as possible, as well as to serve as the easiest-to-use infrastructure services provider in the blockchain industry. As part of that mission, Binance has partnered with Ledger to bring different strands of Web3 together.”
More than 80 Cryptocurrencies Supported
As part of the new alliance, members of the Ledger ecosystem will now be able to access Binance straight from the desktop version of Ledger Live, the Ledger hardware wallet companion app which is available in 10 languages.
Users will be able to purchase any of the 80+ supported digital currencies via the Discover section of the Ledger Live desktop app with their bank cards with just a few clicks.
Importantly, the team has made it clear that they plan to further expand the partnership by integrating Binance payment channels into the mobile version of Ledger Live.
Launched in 2014, Ledger has maintained its status as one of the top manufacturers of crypto hardware wallets designed to offer users increased security and more. As of 2022, Ledger claims to have sold over five million devices.
Jean-Francois Rochet, Ledger’s VP of Transactions and Services said:
“Binance and Ledger are truly global leaders in the digital asset space, and it only makes sense to combine to provide our users the benefits of buying crypto from Binance within Ledger Live, offering Ledger’s uncompromising world-class security.”
Though Ledger hardware wallets devices are designed to store users’ digital assets offline, the company announced the roll-out of its Web extension last May. Dubbed Ledger Connect, the solution makes it possible for Ledger Nano X users to connect their wallet to DeFi and Web3 apps seamlessly from anywhere.
Apart from crushing the barriers to crypto adoption by enabling the masses to purchase crypto with various payment methods, including peer-to-peer, Binance remains one of the exchanges working hard to educate people about crypto. In October 2022, Binance launched a new educational series aimed at demystifying crypto and tackling FUD.
