Selling Cryptocurrency in Ledger Live
Ledger hardware wallets are highly popular among the cryptocurrency community due to their hardware and software features. One of the best features of Ledger wallets is the ability to purchase your desired cryptocurrency using the Ledger Live companion software. Ledger does this through a partnership with Coinify. With the ability to buy, sell, and swap cryptocurrencies now available in Ledger Live, all the needs of a cryptocurrency investor are met, eliminating the need for a cryptocurrency exchange.
Among other Ledger Live features, the ability to sell cryptocurrency can help you quickly convert your assets to fiat and protect them from risk in emergency situations or when the market is about to crash. Similar to selling stocks, there may be times when you want to take profits and realize the returns on these investments. Additionally, you may find yourself in a situation where you need to sell your favorite cryptocurrency to pay bills or other pressing financial obligations. In these cases, the selling feature in Ledger Live allows you to quickly sell your desired assets.
What is the benefit of selling cryptocurrency through Ledger Live?
Today, cryptocurrency exchanges are the most commonly used method for selling your cryptocurrencies. The unfortunate reality is that many people leave their crypto assets on these platforms for the sake of convenience, as they offer the ability to buy, sell, and exchange.
You may now ask, what is the harm in this? The problem is that you do not have complete control over your assets on these platforms. You are not actually the owner of your private keys, and the exchange can restrict your freedom in what you can do with your own funds. Additionally, there is always the risk of the exchange being hacked or your login information being compromised.
Ledger solution for selling cryptocurrency on Ledger Live
With Ledger hardware wallets, you are in full control of your cryptocurrency. No one can tell you what you can and cannot do with your own funds through Ledger. With the newly added feature, you don’t need to send your cryptocurrencies elsewhere to sell them. Your digital assets can remain secure in the market-leading Ledger hardware wallets, without compromising your ownership or security.
Previously, Ledger was only a provider of a secure, convenient, and successful journey into the world of cryptocurrencies and digital currencies. But today, you want to explore more in the world of cryptocurrencies. You can purchase them directly through the Ledger Live platform. In fact, Ledger strives to cover all user needs, including exchanging, transferring, and trading cryptocurrencies in simple ways and in completely secure conditions.
Training to sell digital currency in Ledger Live (desktop version)
Before you start the process of selling cryptocurrency in the Ledger Live software, you must make sure that you have installed the Exchange app on your Ledger device. To install this app on your Ledger, you need to go to the Ledger Live software and search for the app name in the App Catalog. Then, install it on your Ledger device.
- Create an account
- Click on Buy/Sell in the left sidebar.
- Click on the Sell tab.
- Select a crypto asset to sell and an account to sell. Then click on Continue.
- If you don’t have an account yet, click Add Account.
- Connect and unlock your device. Then open the required application.
- Enter the desired amount to sell and select the currency you want to receive in return. Click on Sell now.
- Enter your email address, choose a password, and choose your country of residence.
- You can only use Coinify if your country of residence is listed.
- If you agree to Coinify’s Terms of Service, click Create Account after checking the box.
- Click on the confirmation link sent to your email address.
- Confirm your identity
- Take out your photo ID and click Continue to proceed with one-time authentication. This is required according to anti-money laundering regulations.
- Answer the questions about using your scheduled account and click Continue.
- Complete the in-app authentication. If the camera is not working, follow the instructions to complete this step on your smartphone.
- Once the verification is complete, click Trade Now.
- Sell your digital currencies
- Enter your desired sales amount and currency. Click on Continue.
- Click the Add Account button to add a bank account.
- An overview of your order will be shown, valid for 15 minutes.
- Enter the details of the bank account and the details of the account holder. Click Add Account.
- Check the transaction details.
- If you accept Coinify’s terms and conditions, click Confirm Transaction after checking the confirmation box.
- Connect and open your Ledger device.
- Open the Exchange app.
- Confirm the transaction details on your device. Then press both buttons to accept and send the transaction.
- The addresses are provided securely, so you don’t need to verify them.
Training to sell digital currency in Ledger Live (mobile version)
- Create an account
- Tap the Transfer tab in the bottom menu, tap Buy/Sell, and then the Sell Now button.
- Select a crypto asset to sell and an account to sell.
- Connect and unlock your device. Then open the required application.
- Enter the desired amount to sell and select the currency you want to receive in return. Tap Sell now. You can also log in through the top right menu.
- Enter your email address, choose a password, and then choose your country of residence.
- You can only use Coinify if your country of residence is listed.
- If you agree to Coinify’s terms of service, tap Create account after checking the box.
- Tap the verification link sent to your email address.
- Confirm your identity
- Take out your photo ID and tap Continue to proceed with one-time authentication. This is required according to anti-money laundering regulations.
- Answer the questions about using your scheduled account and tap Continue.
- Complete the in-app authentication.
- Once the verification is complete, tap Trade Now.
- Sell your digital currency
- Enter your desired sales amount and currency. Tap Continue.
- Tap the Add Account button to add a bank account.
- An overview of your order will be shown, valid for 15 minutes.
- Enter the details of the bank account and the details of the account holder. Tap Add Account.
- Check the transaction details.
- If you agree to Coinify’s terms and conditions, tap Confirm after ticking the confirmation box.
- Select your ledger device. Then connect your device and unlock it.
- Open the Exchange app.
- Confirm the transaction details on your device. Then press both buttons to accept and send the transaction.
- The addresses are provided securely, so you don’t need to verify them.
We hope this tutorial was helpful for you, Ledger hardware wallet users.
If you have any specific topics related to hardware wallets that you would like us to cover in future tutorials, please let us know