Manage Cryptocurrency Via Samsung Smartphones With Blockchain Wallet App

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Samsung has made its way to the headlines by being the first major smartphone maker to provide a cryptocurrency wallet for its smartphones. Back in 2019, the company did this with the Galaxy S10, the flagship smartphone back then. Now, Samsung's blockchain platform has continued to expand since it opened up the SDK.

 

Manage Cryptocurrency Via Samsung Smartphones

Recently, the South Korean tech giant announced that it is making it much easier for users to trade their virtual currencies with this move. It has included the support for select hardware wallets to be compatible with the Samsung Blockchain Wallet app.

Hardware Wallet Support For Samsung Blockchain Wallet App

Typically, cryptocurrencies can be held in two types of wallets - digital wallets and hardware wallets. The digital wallets store virtual assets including Ethereum, Bitcoin, and other tokens online. On the other hand, hardware wallets store these assets offline. When it comes to security, it is touted that hardware wallets are more secure than their digital counterparts.

If you are interested in carrying out a cryptocurrency transaction, then you need to first move the tokens from the hardware wallet. To do this in an easier and simpler way, Samsung has added support for hardware wallets to its Blockchain Wallet app. Among the hardware wallets that are supported by the Blockchain Wallet app include the Ledger Nano X and Ledger Nano S.

Manage Virtual Assets Via Samsung Smartphones

Samsung Blockchain Wallet was recently updated to let users import and manage virtual assets from third-party wallets right from the Samsung smartphones. The update lets Galaxy users manage their crypto assets easily and the same will be protected by Samsung Blockchain Keystore. Social media, games, finance and security decentralized apps are available through Samsung's blockchain solution

With the Samsung Blockchain Wallet, users can manage several cryptocurrencies including Bitcoin, Ethereum, Tron (TRX), ERC tokens, and TRC tokens. Also, it supports various decentralized apps (DApp) that make use of blockchain technology to verify the exchange of digital assets. The private keys for DApps and cryptocurrency are stored via Blockchain Keystore. It is a secure area that is separate from the main OS. Eventually, it is protected further by a secure processor and can be accessed via the owner's fingerprint or PIN.

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