Binance and Ledger Partner to Foster Crypto Accessibility

New York City: A statement made on November 2 said that cryptocurrency exchange Binance has formed a collaboration agreement with cryptocurrency wallet provider Ledger to make it simpler for its verified customers to purchase Bitcoin (BTC) and other cryptocurrencies.

Binance and Ledger are Now Working Together
It is believed that more than one billion individuals throughout the globe utilize cryptocurrencies like Bitcoin and others right now, which is consistent with the data that is already available. Although this may appear to be a significant achievement for the nascent cryptocurrency space already, it is important to remember that as of 2021, only 300 million people were using blockchain-based digital currencies. This indicates that the industry still has a significant distance to travel before it can be considered mainstream.

Binance, the leading Web3 ecosystem and the world’s number one cryptocurrency exchange, has joined forces with Ledger, the company that is behind the highly secure hardware wallet, in order to further streamline the process of purchasing cryptocurrencies for users who are a part of both of these ecological systems. This is part of Binance’s mission to increase the accessibility and adoption of cryptocurrencies.

In accordance with a statement made by the Binance team, the collaboration will make it possible for verified Binance account users to purchase cryptocurrency via Ledger directly using their bank debit and credit cards. Additionally, first-time customers will have the option of registering for a Binance account without leaving the Ledger Live app.

Binance said in a post:

Binance was founded with the dual goals of making cryptocurrency trading accessible to the greatest number of people feasible and being the blockchain industry’s infrastructure services provider with the simplest user interface. In order to accomplish this goal, Binance has formed a strategic partnership with Ledger to bring together the many components of Web3.

Members of the Ledger ecosystem will soon be able to access Binance directly from the desktop version of Ledger Live, which is the companion program for the Ledger hardware wallet and is accessible in ten different languages. This access is being made possible as part of a new partnership.

Through the Discover feature of the Ledger Live desktop software, users will be able to quickly and easily use their debit or credit cards to buy any of the more than 80 digital currencies that are supported.

Importantly, the team has made it plain that they want to further extend the cooperation by incorporating Binance payment methods into the mobile version of Ledger Live. This is something that they have said several times.

Since its inception in 2014, Ledger has retained its position as one of the leading producers of cryptocurrency hardware wallets. These wallets are intended to provide users with improved security in addition to other benefits. Ledger claims that it has sold more than five million devices as of the year 2022.

Jean-Francois Rochet, Vice President of Transactions and Services at Ledger, made the following statement:

“Both Binance and Ledger are genuinely worldwide leaders in the domain of digital assets, and it only makes sense to collaborate in order to give our consumers with the advantages of purchasing cryptocurrency from Binance inside Ledger Live, delivering Ledger’s uncompromising world-class security.”

Despite the fact that Ledger hardware wallets are intended to keep users’ digital assets in an offline environment, the business announced the roll-out of its Web extension back in May of last year. The technology, which has been given the name Ledger Link, enables users of the Ledger Nano X to connect their wallets to DeFi and Web3 applications in a seamless manner from any location.

Binance is still one of the exchanges that is putting a lot of effort into educating people about cryptocurrency, in addition to breaking down barriers to cryptocurrency adoption by making it possible for the general public to buy cryptocurrency using a variety of payment methods, including peer-to-peer transactions. Binance introduced a brand new teaching series in October 2022 with the purpose of de-mystifying cryptocurrency and combating “FUD.”