How to Buy Crypto with Ledger
In this video, we’ll show you how to buy crypto for the first time using Ledger Live and your Ledger device. That way, you can carry on your crypto journey with maximal security.
Alright, so you need to buy some crypto. Let us do it securely through Ledger Live with our partner, Coinify. To get started, open the app on your computer, connect your Nano and unlock it with your pin. Then decide which crypto you’d like to buy and make sure you have the app listed under the ‘Apps Installed’ tab. If you don’t, you can add it from the app catalog.
Click ‘Buy/Sell’ on the left, then choose a crypto asset from the dropdown. For this demo, we’ll choose ‘Bitcoin (BTC)’. Now, choose the account you want it to go to. If you don’t have a Bitcoin account or if you want to create a new one, you can do that here by clicking ‘Add Account’. Open the Bitcoin app on your Nano when prompted and Ledger Live will show the ‘Get Started’ page. Enter the amount, in fiat, you want to spend in the top bar and you’ll see an estimate of how much Bitcoin you’ll get back in the bottom bar. Click ‘Buy Now’ and the Coinify log in page will pop up.
LOGIN TO COINIFY OR CREATE AN ACCOUNT
Here you can log in to an existing account or create a new one. If you have to create a new one, pause this video. Complete the account set up, in KYC steps, then come right back. If you already have an account, then log in here. Once that’s done, you’ll see the ‘Get Started’ page again; click ‘Continue’.
SELECT PAYMENT OPTION
Now select a payment option; you can pay with either a credit card or a debit card. Or with a bank transfer; you’ll just be quoted a new rate. You see that timer in the credit/debit box: Coinify locks in the Bitcoin exchange rate for 15 minute blocks. And that timer began when you clicked ‘Buy Now’, to start this process. It’s okay if you exit after 15 minutes though; you’ll just be quoted a new rate. And there is no time on exchange rates for bank transfer because they aren’t finalized until Coinify receives the funds. If you choose the bank transfer option you’ll move along to the older estimate.
If everything looks good, accept the terms and conditions and click ‘Go To Payment’. If your Nano has timed out, just reopen the Bitcoin app on your device. Otherwise you’ll see an address has been generated, for receiving your Bitcoin. Scroll through and confirm the address on your device. Now you’ll be given your transfer information. Everything you need to wire funds from your accounts to Coinify is located here. Just copy and paste everything right into your bank interface. Or you can save it to document for later. Once you send the funds from your bank, check the box at the bottom and click ‘Transfer Sent’. You’ll be brought to the order and progress page, which shows you where you are in the process. Click ‘Finish and View Order’.