As of today, you can sell your Bitcoin directly through Ledger Live! This addition empowers you with all the tools for a successful (and secure) crypto experience, all through Ledger’s solution.
What matches with our recent buy crypto and swap features? That’s right: today, we proudly announce that you can now sell your Bitcoin directly through Ledger Live! This brand-new addition is operated by our partner Coinify and allows Ledger users to sell their Bitcoin.
You no longer need to send your crypto out to an exchange to cash out your Bitcoin. As a matter of fact… you don’t even need an exchange at all! Swapping, buying and selling, all can be done directly through Ledger’s solution with our partners.
Most people will understand what selling your crypto refers to. In a nutshell, it’s turning your digital assets back into our usual currencies, like the US dollar, Euro, Yen etc.
The more burning question: why on earth would you want to get rid of your crypto assets? Aren’t they the future of money? Well, there can be some reasons…
Many joining the crypto movement take their first steps as an investment. Similar to buying stocks, at some point you might want to take profit and see the returns on these investments. Also if you’re in a tough spot and need to pay some bills, you might find yourself in a position where you’d need to sell your beloved cryptocurrencies.
Interested in learning more about the How, What and Why of selling crypto? Check out this article. So now let’s get into the big question.
Why sell directly through Ledger?
Let’s get the biggest thing out of the way: keeping your financial independence intact.
Today, crypto exchange platforms are the most used method of selling your cryptocurrencies. The unfortunate reality is that many people leave their crypto assets on these platforms for convenience, since they’ve got the buy, sell and swap features on them. The problem is that you are not in full control of your own assets as you are not the one in charge of your private key. The exchange could limit what you can do with your own funds, thus limiting your freedom. On top, there’s the risk of the crypto exchange getting hacked or someone figuring out your login details.
With Ledger, you remain completely in charge of your own crypto. No one can tell you what you can and cannot do with your own funds through our solution. Thanks to today’s release, you don’t need to first send your cryptocurrencies elsewhere to start selling them. They can stay secured by our market-leading hardware wallets, making sure you don’t have to sacrifice ownership or security.
Most of all, with the addition of the sell feature you have the complete package.
Ledger’s Solution: The Full Cycle of your Crypto Journey
We’ve always had a vision of Ledger’s solution being the only thing you need for a successful, convenient, secure and amazing adventure into the world of cryptocurrencies. Want to start digging into cryptocurrencies? You can buy them directly through our platform. Swapping them for another asset? No problem, we got you covered. And now, with the new sell release, you’ve now got everything you need for your journey.
Here's a general breakdown of the timeframe: Average: Around 60 minutes. This considers the typical network congestion and waiting for a few confirmations for security. Faster: You might see your transaction confirmed in as little as 10 minutes if the network is clear and you pay a high fee.
With your recovery phrase, an attacker has the ability to drain all of your accounts across all blockchains without any input needed from your Ledger device.
If your Ledger Nano S is stolen or lost forever, you can recover your coins by using the recovery phrase that you generated when you set up your device. The recovery phrase is a BIP39 seed that consists of 12, 18 or 24 words2.
Yes. In the United States, your transactions on Ledger and other platforms are subject to income and capital gains tax. If you've earned or disposed of (ex.Sold or traded away cryptocurrency) during the year, you'll have a tax liability to report to the IRS.
One of the easiest ways to cash out your cryptocurrency or Bitcoin is to use a centralized exchange such as Coinbase. Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount.
You can buy crypto directly through the Ledger Live app with our partners. Your crypto will immediately be sent to the safety of your hardware wallet and you'll immediately have full ownership over your assets.
Withdrawing from your ledger balance is no different from a regular bank withdrawal. It involves accessing your account and using a chosen method to take funds out, such as ATM or electronic transfer. Just ensure the amount doesn't exceed your available balance to avoid issues.
Grow your assets while securely holding them with your Ledger device. Ledger Live allows you to securely stake a growing number of coins including ETH, SOL, ATOM and DOT. Track, manage and grow your earnings, make informed decisions, and stay secure from Ledger Live dedicated Earn Section.
Your coins are associated with a set of “public/private keys”. —Your coins do not physically exist on any device — not even your Ledger hardware wallet. — Ledger hardware wallets store and safekeep your private keys, so that you can be the custodian of your own money.
Phishing can be a great tool to convince you to download malicious software on your laptop or smartphone. For example, a phishing site may pose as Ledger and convince you to download a virus disguised as Ledger Live. From there the hacker may be able to control your web2 device.
Through Ledger Live, you can directly sell Bitcoin (BTC) and have the proceeds in fiat currency deposited straight into your bank account. This service is made possible through our partnership with Coinify, and currently, it only supports the sale of Bitcoin (BTC).
Using a hardware wallet – sometimes called “cold storage” – is widely accepted as the most secure method for storing cryptocurrency. It's backed by security experts and keeps your private keys offline – so your crypto is inaccessible to anyone but the holder of specific access codes.
Short-term gains can happen when you sell or otherwise dispose of your crypto after holding it for less than one year. At tax time, you'll fold these gains into your regular income, then pay taxes on everything together at your ordinary income tax rate.
If TREZOR, Ledger, Coldcard or any other wallet or hardware wallet company go out of business, you can use any other wallet to recover your wallet. The 12 or 24 words you wrote down at the beginning when you got your wallet can re-create your wallet without the need for the hardware wallet company you bought from.
All Ledger crypto wallets are powered by an industry-leading Secure Element chip, together with Ledger's proprietary OS that protects your crypto & NFTs from sophisticated hacks.
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