Can different bank accounts deposit on the same Ledger device?

dkbit98

legendary

Activity: 2212

Merit: 7064

Quote from: WeThePe0ple on September 17, 2022, 08:55:54 AM

Can she deposit $1 on my Ledger device in 2024, so that I can withdraw profits to her account when EU regulations don't allow me to withdraw?

You can deposit only Bitcoin and other cryptocurrencies in your Ledger hardware wallet, including some stable coins that are supported, and you can generate as much addresses as you want.
You can't deposit any fiat currencies from bank or anywhere else, unless you purchase Bitcoin first, either directly with cash or online using exchanges.
Better check your local regulations for more detail and it can be very different depending on specific country.

Quote from: WeThePe0ple on September 17, 2022, 08:55:54 AM

Or can a Ledger device only be connected to 1 person?

One ledger can be used for several people, but only if you generate multiple passphrases for each person, or if you reset device and import separate seed words each time.
This can be confusing sometimes, so I suggest getting separate devices that are not so expensive.

The Cryptovator

legendary

Activity: 2408

Merit: 2226

Signature space for rent

The ledger isn't yours. Whoever has access to the device along with password or seed has full control of the device. Ledger directly doesn't control Bitcoin sell, they use Coinify to handle buy sell. So you need to read the terms and conditions of Coinify. Its third-party apps partner with Ledger to handle fiat. I am not familiar with the rules to buy and sell from the ledger. I simply use storing my Cryptoasset. If there is something wrong you may use p2p exchange or p2p from Binance. So you may avoid a lot of hassle.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

The ledger won't be your only option for buying and selling the coins as stated above.

What normally happens though is you'd have to kyc with an account (give ID verification) and then the bank account used to buy/sell would be related to that so you'd have to get them to submit their ID information and then you'd be able to buy and sell with their account. (this is based on how it works in other places, things might change or be different).

OmegaStarScream

staff

Activity: 3500

Merit: 6152

I'm not really familiar with Ledger and their fiat exchange (I'm guessing they're using a third-party service) so I can't really answer your question, but if you're encountering some difficulties when trying to sell your bitcoin, then instead of using the built-in exchange feature, you can simply ask your wife to create an account in a reputable exchange (like Coinbase) and then simply send the bitcoin from your ledger to the exchange whenever you want to sell.

WeThePe0ple

member

Activity: 202

Merit: 22

I'm European, and willing to invest in blockchain technology.
However we have serious crypto regulation coming in October. Converting crypto profit back to currency may be a problem.

I've read in the Ledger device policy, that users can only withdraw money to a bank account that they have used before.

My wife is South American.
Can she deposit $1 on my Ledger device in 2024, so that I can withdraw profits to her account when EU regulations don't allow me to withdraw?
Or can a Ledger device only be connected to 1 person?

I have purchased the device in my name. But I have not made any deposits yet.

Topic: Can different bank accounts deposit on the same Ledger device? (Read 82 times)