2 November 2024
Samsung Galaxy Smartphones Will Now Support Crypto Hardware Wallets
Samsung shows more faith in crypto by allowing Galaxy owners to connect hardware wallets with their smartphones and transfer coins to the built-in wallet that comes with most devices.
Samsung believes that this update will increase the utility of its cryptocurrency wallet, first introduced with the Galaxy S10 series two years ago. The app can be linked to selected hardware wallets like Ledger Nano S and Ledger Nano X. The new functionality will facilitate the transfer of crypto funds from cold storage to the mobile app.
In a press release, Samsung stated:
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.
Galaxy devices running Android OS 9.0 or above will support the new feature, but the availability will vary depending on the model. Support for the third-party hardware wallets depends on the market as well. On this, Samsung noted that Bluetooth features of Ledger Nano X might be limited when connected to the Samsung wallet.
In 2019, the South Korean tech giant had announced the integration of a secure platform in the Galaxy S10 smartphones allowing crypto enthusiasts to store and manage their cryptos. Also, the private keys used for authorization of cryptocurrency transactions are encrypted and stored in an isolated area from the main operating system and all other apps.
Data in the Samsung Blockchain Keystore could only be accessed after verification through PIN or fingerprint and is protected by Samsung’s Knox security software. The keystore is under the Settings section– “Biometrics and Security”. After setting up, you’ll be invited to create a new crypto wallet or link an existing one.
Samsung Blockchain Wallet currently supports cryptocurrencies like bitcoin (BTC), ethereum (ETH), ERC tokens, tron (TRX), and TRC tokens. The app also enables users to explore decentralized applications (dapps) using blockchain technology to authenticate the exchange of digital assets.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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