Samsung deepens use of cryptocurrency in Galaxy devices


    Global tech device giant, Samsung Electronics has announced that blockchain/cryptocurrency users can now manage and trade virtual assets from third-party wallets on Samsung Galaxy smartphones.

    A statement on it website said the update makes it easier for blockchain users to access and process transactions by importing virtual assets stored on select cold hardware wallets to the Samsung Blockchain Wallet available on most Galaxy smartphones.

    It said support for hardware wallets provides Galaxy blockchain with a consistent user experience of managing crypto assets from one convenient location.

    In addition to the Samsung Blockchain Keystore, Galaxy smartphones can now connect to hardware wallets including the Ledger Nano S and Ledger Nano X.

    Samsung Blockchain Wallet users will also be able to keep up with the latest trends in cryptocurrency with a dedicated newsfeed in the app featuring articles from CoinDesk, one of the top blockchain news outlets.

    After launching with the Galaxy S10 in 2019, the Samsung Blockchain Wallet has grown to support some of the most popular cryptocurrencies including Bitcoin, Ethereum, ERC tokens, Tron (TRX), and TRC tokens.

    The South Korean vendor explained in a statement it was now allowing Galaxy users to explore DApps, which use blockchain technology to authenticate the exchange of digital assets.

    It will also provide access to the services in fields including social media, finance and security, offering recommendations across a variety of categories.

    Samsung noted it added methods to make it easier for blockchain and Galaxy devices users to access and process transactions of cryptocurrencies from third-party hardware.

    It stated the update will allow users to import virtual assets stored on “cold hardware wallets” to the Samsung blockchain wallet, available on most Galaxy smartphones, giving users a consistent experience of managing everything from one location.

    The vendor said the new mobile experiences are covered by its Samsung Knox security platform.

    It will use private keys for DApps and cryptocurrency, which are encrypted and stored in an area isolated from the main Samsung Blockchain Keystore operating system.

    This is further protected by a secure processor and can only be accessed through the owner’s pin or fingerprint.

    As part of the move, Samsung also opened access to its blockchain ecosystem with developers.


    Please enter your comment!
    Please enter your name here