Ledger swap providers: a hardware wallet does not make every service a DEX

Ledger Wallet, formerly Ledger Live, presents swaps from multiple providers. Choosing an offer chooses that provider’s execution service as well as a price. The hardware signer protects the authorization process; it does not make every offer a decentralized exchange or give every route the same recovery policy.

Ledger’s integration reference draws the boundary clearly: the provider handles quoting, route finding and order execution, while Ledger handles device-verified signing and the embedded experience. That is the useful model for reviewing a swap.

Compare exchange type before price

The Wallet 4.0 product description lists both centralized and decentralized providers, including Uniswap, 1inch, OKX DEX, Velora, Changelly and others. Their coexistence in one screen does not remove differences in deposit handling, identity requirements, settlement timing or refund terms.

For each offer, identify whether you are signing a direct contract action, an order or a transfer to a provider. Record the destination asset and network, the stated receive amount and any conditions on the exchange rate. A hardware-confirmed transfer to a service remains a transfer to that service.

Gas sponsorship is conditional

The same announcement describes gas sponsorship for selected pairs and providers. Do not infer that every swap can proceed without a native gas balance. A quote that funds gas from the traded token also needs an output comparison against one that asks you to pay gas separately.

This guide does not publish a universal Ledger swap percentage because the retrieved primary sources do not establish one rate for the marketplace. The current quote and provider terms are the relevant cost evidence.

Finally, confirm the details shown by the hardware device and retain the provider’s order reference. The device can help you authorize the intended operation, while that reference connects the operation to the service responsible for delivery. Evaluate both layers when deciding whether the integrated marketplace fits your trade.