Binance Ledger

Binance Partners With Ledger to Enable Smoother Crypto Purchases

03.11.2022 12:09 (Updated 03.11.2022 12:11)
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by Maksym Prykhodko
2 min read

Binance and Ledger have joined forces to enable users to buy crypto on the Binance exchange directly from the hardware wallet app, the companies announced. This way, buyers can use bank cards connected to Ledger to easily buy crypto on Binance. This is important news for traders who like to keep their funds safe in a hardware wallet, as it allows them to avoid all transfer fees when making crypto purchases. Users can now even make a Binance account directly in the Ledger Live app.

Binance, thus, keeps striving continually to provide even better service across a variety of projects. Last week, we wrote about the company adding price oracles to its blockchain, BNB Chain. Such oracles allow smart contracts access to information existing outside the blockchain itself, which improves protocol functionality. Projects already using the Binance oracle include Alpaca Finance, Ankr, and Venus.

This October, Binance also allocated 13.2 million UNI tokens to the Uniswap DAO, becoming the second most powerful organization within it when it comes to voting rights. Thus, Binance can now suggest governance votes pertaining to Uniswap DAO. And if that wasn’t enough, the world’s largest crypto exchange by trading volume has recently launched a $500 million lending pool as part of its Binance Pool service. The aim is to help miners in a difficult time for crypto mining.

Likewise, Ledger keeps introducing new functionality. Just a few days ago, the hardware wallet company added support for earning Polkadot (DOT) staking rewards through the Ledger Live app. This upgrade supports staking in nomination pools with as little as 1 DOT. To earn the rewards, stakers first need to bond assets and then nominate validators who will stake for them. Just be sure to install the latest update to remove the risk of transaction errors.

Author

  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didn’t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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