After months and months of teasing us with delicious Easter eggs, phone company Samsung finally unveiled its four new flagship phones which will have a secure feature for private keys, effectively turning the device into a cryptocurrency hardware wallet for Bitcoin and altcoins.
The press release says, “Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
Samsung sparked rumours of a cryptocurrency wallet in December when it filed for a patent for a cryptocurrency wallet. At the time, it didn’t reveal much about the wallet, which left people pondering on a lot of questions. For example, would it be a standalone hardware wallet or a smartphone with cryptocurrency wallet? Was it really going to be a product or Samsung filed this patent only to be on the safe side?
After that, Samsung engineered a “leaked photo” shoot in which it showed that the new Galaxy phones were indeed supporting cryptocurrencies. Crypto-News India had reported earlier, that the wallet supported only Ethereum, but very soon it would add support for Bitcoin, Ethereum-derived token ERC20 and Bitcoin Cash, after the phone is officially launched.Source: Twitter
Smartphone-based crypto wallets can also be convenient and secure the users at the same time because they won’t require the users to carry a separate hardware wallet while still keeping the keys securely stored in a separate chip inside the device.
Samsung is not the first smartphone to introduce in-built cryptocurrency wallet. Earlier, phone company HTC had also announced that it was all set to launch HTC Exodus 1 that contains a digital wallet to store your digital currencies and is secured from the Android OS.