9 Oct, 2019

Samsung Unveils Cryptocurrency Wallet Friendly Phones

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.