Exciting news for Trezor owners: Trezor has partnered with MoonPay to allow customers to purchase cryptocurrency directly within their hardware wallet! The partnership will allow customers to purchase over 1,000 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Tether (USDT).
In this article, we are taking a look at what exactly MoonPay is and how you can use it with your Trezor hardware wallet to purchase your favourite cryptocurrencies.
WHAT IS MOONPAY?
MoonPay is a cryptocurrency payment service that allows its customers to buy and sell cryptocurrencies and non-fungible tokens (NFTs) via debit cards, credit cards and other payment techniques. The platform is integrated with a number of digital assets brokerage, including Bitcoin.com, Trust Wallet, ABRA, and ZenGo.
WHAT IS A TREZOR HARDWARE WALLET?
Hardware wallets are small, fragile devices that hold the keys to your financial freedom! We’re sure by now you know the importance of owning one if you hold any cryptocurrency. If not, you should read this post.
A hardware wallet keeps your private keys offline and away from easily hackable devices such as computers and smartphones. When you move your assets onto a hardware wallet, you are trading a plethora of digital threats for the more predictable, controllable risks of the physical world.
The Trezor One is one of the most affordable & reliable hardware wallets on the market.
WHAT DOES THE MOONPAY PARTNERSHIP MEAN FOR TREZOR USERS?
As reported by Cointelegraph, the collaboration with MoonPay builds on Trezor’s earlier partnership with Invity, a cryptocurrency exchange comparison tool integrated directly into the wallet. Invity, which is a startup functioning under the parent company SatoshiLabs, connects clients with trusted partner exchanges to provide direct-to-custody trades through different payment methods. Combined, the three platforms allow users to buy, sell and exchange directly within the Trezor wallet.
Antonio Talledo, Senior Business Development Manager from MoonPay said that：
“By allowing Trezor owners to buy crypto directly from their wallet, we're tapping into a committed cohort of cryptocurrency users who take security very seriously, Through this partnership with MoonPay, we're taking the lead to bring secure, borderless and easy financial freedom to billions".
HOW CAN YOU CONNECT MOONPAY TO YOUR TREZOR?
Invity CEO Stepan Uherik confirmed that “for users that have used MoonPay through their network of partners, they will have their account already created and payment methods saved, so will be able to transact in a few seconds. For first-time users of MoonPay, they require basic Know Your Customer checks based on transaction amount to comply with regulations prior to executing the first transactions.” Uherik also stated that the buy feature is immediately available on Trezor via MoonPay, while the sell option is coming at a later date.
As always, we will keep you updated with any future developments. If you would like further one-on-one support in setting up your hardware wallet device, we offer in-depth remote consultations. You can book here.