How can I buy and sell my Bitcoin from a Trezor or Ledger hardware wallet, without sending Bitcoin to an exchange? For example, are there any hardware wallets that allow you to keep your Bitcoins on a hardware wallet and buy and sell. This would mitigate the risk of an exchange getting hacked.
Since your core point is not to trust the exchange, you can do either of the two:
- find a person who wants to sell you bitcoin, give them your bitcoin address on your HWW & once confirmed, give them money. For selling, the process would be reversed, find a person who wants to buy, ask their address, send them bitcoin from you HWW, and then ask them money. Problem is, you will have to trust this person or the platform instead.
- buy bitcoin on exchange, send from exchange to your HWW. Now when you want to sell, do the opposite, send from HWW to exchange and sell!
Both are quite easily done. Selling and buying bitcoin, straight from a hardware wallet, can be done at the so called 'fiatgateways' such as www.satos.nl (dutch), I believe Changelly deals with the same strategy. You simply open an sellorder and simply send the amount you have set to sell to the walletadres (straight from your ledger) given by the fiatgateway. Buying is exactly the same at these fiatgateways, not an exchange which comes in between your coins. Your keys, your coins! :)
All hardware wallets give you control of your funds. As for buying or selling without an exchange, yes it is possible you just need to find the end-user yourself. Exchanges simply connect you to other people who want to buy or sell. In the simplest form, if you want to sell without an exchange find a buyer, they give you cash and you give them bitcoin in return. Or vice-versa if you are buying.