Direct crypto purchases via hardware wallet Trezor with MoonPay

Trezor, a hardware wallet company, is partnering with MoonPay to allow direct crypto purchases.

According to a Wednesday announcement, Trezor, a Czech Republic-based provider of hardware wallets, has partnered up with MoonPay to enable its customers to purchase crypto directly from their hardware wallet.

MoonPay, which is supported by major industry players such as Tiger Global and Coatue has a crypto payment system that allows users to purchase and sell cryptocurrencies using debit cards, credit card, and other payment methods. The firm raised $87million from investors such as Justin Bieber, Snoop Dogg and others to concentrate on NFTs.

MoonPay’s collaboration builds upon Trezor’s previous partnership With Invity, which is a tool that compares crypto exchanges and integrates directly into the wallet.

Invity, like Trezor is a startup that operates under SatoshiLabs. Invity connects clients to trusted partner exchanges that offer direct-to-custody trades and various payment methods. The three platforms offer buy, sell, and exchange functions directly within the Trezor wallet.

Customers can now buy and sell many cryptocurrencies using a noncustodial cryptocurrency wallet. This will help users better protect their funds. Trezor currently supports over 1,000 cryptocurrencies including Bitcoin (BTC), Ether(ETH), Tether [USDT], BNB, Cardano, ADA, and Tether (USDT).

Cointelegraph was told by Stepan Uherik, CEO of Invity. To comply with regulations, MoonPay users who are new to the service will need to perform basic Know Your Customer checks. These checks will be based on transaction amounts.

Uherik also mentioned that Trezor via MoonPay offers the buy option immediately, while the sell option will be available at a later time.

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This is yet another milestone in crypto purchases on Trezor. The hardware wallet previously supported crypto buys via its native app Trezor suite via an in-app trade feature. Invity has made this option available via the crypto exchange comparison tool since late 2020, Trezor stated in one of its blog posts.

Antonio Talledo, MoonPay’s senior business development manager, stated that Trezor owners can now buy cryptocurrency directly from their wallet. “This is a way to tap into a dedicated group of crypto users who take security very seriously.” Uherik stated that MoonPay is taking the initiative to provide financial freedom for billions of people through secure, borderless, and easy access to their money.

Opinion writer on 7trade7