Well! If you are still in dilemma, here I am to spill the beans.
Unlike various hardware wallets, Trezor Wallet offers an online software named Trezor Suite that enables Trezor customers to purchase or sell cryptocurrencies easily. Along with this, it also provides many more other needful trading- related services such as staking assets, exploring dApps, etc.
Hold on! Are you confused with Trezor Live and Trezor Suite? Well! It happens usually, so let me clarify this point first. Like Trezor hardware wallet, Ledger also provides an online platform to manage crypto assets which is known as Ledger Live. So, if you are searching for either Trezor Live or Ledger Suite, you may end up getting incorrect information.
In this read, we will elaborate on the purchasing process through the Trezor Suite application. So, if you also want to explore the functionalities of the Trezor Suite application, make sure you have purchased the wallet device and set up the Trezor Wallet with the Suite app, and then follow this read thoroughly.
Steps to Purchase Crypto Assets Via Trezor Suite
- Make sure you have connected the Trezor Suite app (which you may know as Trezor Live) with the desktop and unlock the device with a PIN.
- Now, proceed by tapping on the "Exchange" tab situated in the Trezor Suite to access the exchange integration.
- Pick up a crypto exchange that supports Trezor Live integration such as Binance, Kraken, etc.
- Follow the on-screen instructions to link your exchange account to Trezor Suite. This often involves creating an API key or linking your exchange account.
- Complete any identity verification required by the crypto exchange by providing personal information and verifying your identity.
- Afterwards, transfer fiat currency (e.g., USD, EUR) into your connected crypto exchange account using the deposit options provided by the exchange.
- Once your funds are in the exchange account, navigate to the trading section located there.
- Pick up the trading pair you wish to purchase (e.g., BTC/USD or ETH/EUR).
- Now, on the Trezor Live (Suite) app, set the amount and price at which you want to buy the assets.
- Place a market order (buy at the current market price) or a limit order (buy at a specific price).
- Trezor Suite will prompt you to confirm the transaction on your Trezor hardware wallet, confirm it after verifying.
- Once it is credited, for added security, transfer the purchased cryptocurrency from your exchange account to your Trezor hardware wallet.
- Hereby, use the "Send" or "Withdraw" option on the exchange platform and provide your Trezor wallet address as the destination.
- Move to your Trezor device and confirm the withdrawal transaction on your Trezor device when prompted.
Now, you are eligible to keep track of your cryptocurrency holdings using Trezor Suite or can informally say Trezor Live.
Wrapping It Up!
Buying cryptocurrencies through Trezor Suite (which is also referred to as Trezor Wallet) offers a secure and user-friendly experience. By combining the strength of a hardware wallet with the convenience of software integration, Trezor Suite ensures that your crypto assets remain protected while providing easy access to major cryptocurrency exchanges.
Ensure your Trezor device is always connected securely, and carefully verify transaction details before confirming them. By following the aforementioned steps and practicing good security hygiene, you can confidently navigate the world of cryptocurrency investments with peace of mind. Happy trading and hodling!
