Hardware Wallet Maker Ledger to Let Users Buy Crypto Through PayPal Account

Crypto custodian ledger to let users buy Bitcoin Ethereum through paypal account. Oh my, this is so exciting. We're just going from a cold storage device to a third party predator. I'm so excited. Um So users in the US can buy crypto uh in its Ledger Live app through paypal account without any extra verification. That's because you've already KYC there. Ledger Live currently offers Bitcoin if they're in Bitcoin cash and Light coin. So this is what users can buy with the integration. The interesting thing about this is there was a story that came out from the UK paypal to stop Bitcoin purchases in the UK starting October 1st of 2023. So that's kind of weird to me because I felt like UK and like the EU and like all those people on that side of the world. Um They have a lot better laws and stuff than we do in the US. But now they're stopping that with paypal. But then Ledger is gonna let users buy Bitcoin through paypal. So um all I know is if you guys are gonna be using paypal to buy your crypto assets, please understand that paypal. Um has some predatory stuff in some of their terms of services. So make sure that you read that, be very careful what you post on the internet. Ok. I'm gonna take this one. I think the Ledger is coming out with another win, right? Like they've had a lot of issues in the past, I think, like earlier in this year we had the privacy implications of a new change to the seat phrase set up uh which was like an opt-in thing and they later just decide to walk it back entirely because of blowback on crypto Twitter. But like, let's look at like the, the recent announcements here, they have like a new Ledger Walt that's coming out. It's been designed by the person who designed the i iphone or it was like the, the I touch. That's a big win. This itself like integrating with paypal is a huge deal. I think they also integrated with another trading service uh recently and Blinky on the name just like continuing to stack up. And I think this kind of points to something that's similar with like coin base or maybe the Binance. Well, once you sort of have like that brand capital in the space, you really start along a lot faster than others out there, they're going to get a lot of volume from integration like this or at least, do you think they would, it's just like easy one click pay with paypal, like you can do that for a lot of things nowadays. And if you can do that with crypto and, like, live to your ledger, just send it on to like your hard on your hardware wallet. Just connect it directly to your desktop. That's pretty big change from the traditional way of doing crypto. Yes. There's some things here that like aren't great. Yes, paypal does have some issues with its crypto services and terms. But I think that's just like when you're working with a corporation and this is probably the next step in the road to boring, right? Where these bigger companies or financial institutions come in to make the UIUX really simple for people. Hey, I want exposure to Bitcoin. What's the easiest way? Well, I go to paypal, I buy with my ledger and I just let it sit there easy. I'm done that. Hold on really quick. That's assuming they know how to actually set up a ledger and keep their private seed phrase safe. That is true. And a tricky part. That is true. I, I must say the first time I set up a ledger, I remember it being the process being ok. And I don't know if I just had more information than the average Joe. But the step by step process and setting up a ledger, I remember thinking, um was easier than I thought when I set my first one up. And I know the, when we spoke about all of that drop that happened months ago, Ledger came out and said they were really focusing on the next million users. And the criticism there was, you know, you're maybe not thinking about the users who are already in the ecosystem, who are already using Ledger products. I think that this shows that Ledger is still focused on the next million users. In this partnership with paypal. Paypal is a trusted brand. Of course, they are regulated. Of course, there are some things um that happen at, at paypal that maybe people who are like diehard crypto folks are not going to like, but I think that this is what has to happen if we want to on board the everyday Joe. And so I agree with you will, I think that this is a good step forward. I think that this is definitely uh road to boring and I think that it's interesting that in such quick succession, paypal has enabled crypto purchases for be users. They've launched their stable coin and now they've partnered with Ledger that tells me that they continued building throughout all of the FTX implosion and all the drama that this um industry has seen and we're getting to see the fruits of that labor. And it's pretty interesting to, to think that a brand like paypal would continue building these crypto products and look at uh crypto partnerships throughout all of that. I think it's a pretty bullish sign. What you think it's a great optionality story too, right? Like it is interesting to see paypal be like, OK, you can do crypto like highly custodial, just keep it in your paypal account or you can buy it directly to your hardware wallet. Right? And that's like the spectrum of sort of optionality that I think is really great in crypto, right? Some people they don't want to have to protect their seed phrase. They want, they want it sitting in a trusted regulated custodian. Others maybe are more cypherpunk inclined and want to have that stuff on their hardware device itself. So it is interesting, I think for thinking of paypal to be thinking about how they intersect with that entire spectrum of uh custodial tradeoffs, right? We talked about this often. Each one comes with its own set of trade-offs. You know, hey, you gotta protect your own seed phrase. Hey, you gotta take that personal responsibility first is, hey, that crypto exchange could go out of business and your funds are screwed, right? So it is a set of trade-offs that everyone has to weigh and sort of assess on their own. And for paypal, I think in this instance, to be providing another more self custodial choice to its consumers is actually really interesting. And I'd be curious to see like how this partnership came about in the first place. You know, whether paypal went to Ledger, whether Ledger went to paypal would be really fascinated to know a bit more behind the scenes because it does suggest some interesting thinking about paypal, especially in light of the recent stable coin news. So yeah, definitely interesting, interesting story. I like optionality. Optionality is the way I want to just give a hot take before we go. I think we have to go to break. But my hot take is, is I would rather see people um put their money into a Bitcoin spot ETF than use paypal and Ledger. Ok. All right. But we don't have a, she's standing for that or you can technically invest in micro strategy and then you can become a shareholder of Bitcoin just like Black Rock and Vanguard proxy. Yes. The, the Bitcoin proxy stock good stuff. Those are nice takes. Good stuff.