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Author Topic: Hardware digital wallets on smartphones?  (Read 151 times)
jademaxsuy
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July 22, 2018, 09:30:00 AM
 #1

I have seen some thread posting on those smartphones that accepting bitcoins as a form of payment for their smartphone products and i think that there is something more than this accepting bitcoin payments. For sure they are already having some feasibility studies of a hardware digital wallet that can store bitcoins. This will benefit all crypto users and with the smartphone providers. Sales is coming. What do you think?
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July 25, 2018, 10:09:24 AM
 #2

Yeah specially the news about Samsung is going to accept bitcoin is trending now. It will be great when most of the companies will start to do the same. It’s a good news for all the crypto lovers.
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July 25, 2018, 10:14:55 AM
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I have seen some thread posting on those smartphones that accepting bitcoins as a form of payment for their smartphone products and i think that there is something more than this accepting bitcoin payments. For sure they are already having some feasibility studies of a hardware digital wallet that can store bitcoins. This will benefit all crypto users and with the smartphone providers. Sales is coming. What do you think?
Note: Help me get merit.

You have mentioned about feasibility studies and you are correct in that statement. Because of the trend of cryptocurrency business smartphones are going to add another feature in their products so they can increase their sales. Smartphone companies are very competitive and it is not far from the truth that they will engage in cryptocurrency so they can increase their sales.
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July 25, 2018, 10:40:25 AM
 #4

Yeah i think it will be a surprise one day that a smart phone will offer bitcoin mining, bitcoin digital wallet and even cryto exchange. THis is possible because these smartphones do work also as a computer and the target consumers for this are the crypto lovers and as we all know that the consumers are coming from around the world. So this business is so big and it will make the smartphone manufacturer's get more money.

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July 25, 2018, 10:41:24 AM
 #5

I am very excited that bitcoin is being accepted by many giant companies as a transaction method. It is a good time for crypto world and we will need to work together for the betterment of it.
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July 25, 2018, 10:55:37 AM
 #6

the news was fake wish it was true but you can buy phones on amazon and buy gift cards using bitcoin it's not a big deal. buying a hardware wallet is better than storing it on the phone wallet people will not suspect its valuable unless they know it.

Yeah specially the news about Samsung is going to accept bitcoin is trending now. It will be great when most of the companies will start to do the same. It’s a good news for all the crypto lovers.
that news was fake samsung denied the collaboration the collaboration was faked by CopPay it seems alot of people fall for it, hope they will accept it in the future.

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July 25, 2018, 12:25:06 PM
 #7

who are involved with crypto world they can easily understand the importance of wallet it store all the coins safely so the athuority is try  to improve it and a new progress are happening every day so it is possible that it is already bring came to the smartphone and this process will definitely make things more easier for users but my advice is to be careful
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July 25, 2018, 12:26:28 PM
 #8

May be your assumption about hardware digitalwallets in stores will come true. There might be this kind of assesment as it is very easy. Also they may in future, with help of google, android and ios platform give buit-in payment softwre for exchanging Crypto-currency with every device they sell. This will also benefit every crypto-enthusiasts as the companies will check and assure the authenticity of the software they distributes with their device, isn't it?
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July 25, 2018, 12:28:18 PM
 #9

Yes, this will become a mainstream way of payment in the future. In many big cities in East Asia, most young people have been very dependent on smartphones, and I think the combination of smartphones and digital money will make the community explode.

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July 25, 2018, 12:31:00 PM
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Yeah i think samsung is now utilizing the blockchain system i think i have read a thread about that. This will surely be added as a feature for the future smartphones.
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July 25, 2018, 12:31:05 PM
 #11

Smartphones are now full-fledged wallets. But I'm afraid to trust them with my money.

Smartphones are not protected and they are easy to crack and you will never see your money.

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July 25, 2018, 12:33:40 PM
 #12

The only issue is that there would be a constant target for phishing and man in the middle attacks. You would literally need to have an old screen in the back or separated bottom with it's own verify buttons or you would never know if you were truly sending coins to the right address.














 

 

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stefy77
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July 25, 2018, 12:38:50 PM
 #13

A wallet on a smartphone in my opinion is always a software wallet and not hardware. Security on smartphones is always lower than a real wallet hardware.

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July 25, 2018, 12:38:57 PM
 #14

Cellphone get stolen often, but You can keep your hardware wallet safe - I will prefer a regular Hardware wallet to keep my coins than a smart-phone that has a built in hardware wallet.
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July 25, 2018, 12:40:19 PM
 #15

Yes, the hardware digital wallet is quite a desire and would be a really promising if credibility and security is transparent. Users thrive for cheap ways of storing their coins, so it would see good demands once available.
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July 25, 2018, 12:56:40 PM
 #16

Building a hardware wallet inside a smartphone is definitely possible.

It basically just requires two things:
  • An integraded RNG + Secure element
  • A second display + buttons for verification

With these, you can fully implement a hardware wallet inside a mobile.
You can use the mobiles OS / application to communicate with the hardware wallet and use the second screen/buttons to verify payments.

You would be fully secured against a compromised phone (thanks to the second screen and verification buttons) and you could also be secured against theft of the phone (through password protection with wiping after X wrong attempts).

The only attack vector i can think of at the moment is if your mobile is compromised AND it gets stolen afterwards.
In this case the attacker can gain access to your password + physical access, which is enough to steal funds.

I'd definitely love such a hardware wallet integrated into a smartphone (even though it still should not be used for large amounts -> 5$ wrench 'attack').
But it would secure people against simple malware (which definitely will become more 'standard' if the amount of BTC mobile payments does increase).


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July 25, 2018, 01:20:34 PM
 #17

For sure they are already having some feasibility studies of hardware digital wallet that can store bitcoins. And this business is so big, It will make the smartphone manufacturer's get more money.
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July 25, 2018, 01:35:08 PM
 #18

if all smartphones have supported crypto completely then crypto became popular in wider society, smartphone is the most telling media to advertise

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July 25, 2018, 01:41:47 PM
 #19

Building a hardware wallet inside a smartphone is definitely possible.

It basically just requires two things:
  • An integraded RNG + Secure element
  • A second display + buttons for verification

With these, you can fully implement a hardware wallet inside a mobile.
You can use the mobiles OS / application to communicate with the hardware wallet and use the second screen/buttons to verify payments.

You would be fully secured against a compromised phone (thanks to the second screen and verification buttons) and you could also be secured against theft of the phone (through password protection with wiping after X wrong attempts).

I'm thinking along the same line. Perhaps the technology of dual booting available to PCs can be embedded into smartphones for the sole purpose of having the wallet secured from attacks and whatnot. While it's not feasible for most phone manufacturers, this will be a head-turner and a possible innovation for future smartphones that can act as a general communicating tool/device and another, distinct purpose aside from the conventional use of it.


The only attack vector i can think of at the moment is if your mobile is compromised AND it gets stolen afterwards.
In this case the attacker can gain access to your password + physical access, which is enough to steal funds.

I'd definitely love such a hardware wallet integrated into a smartphone (even though it still should not be used for large amounts -> 5$ wrench 'attack').
But it would secure people against simple malware (which definitely will become more 'standard' if the amount of BTC mobile payments does increase).

Having the phone stolen or lost will be negligence on the end-user's part, so that I think will be inevitable and uncontrollable, but I'm pretty sure no one in their sane minds would want to have their phones stolen so they would definitely keep it safe. As for the last passage/statement, I'd say this should be optional, with a biometric authentication needed in order to spend more than a designated 'default' limit by the wallet. It is possible in today's day and age. If they were able to create useless apps, I'm pretty sure they can create something important for people and enthusiasts too.

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July 25, 2018, 01:51:04 PM
 #20

I think no one give you you something without getting any benefit. That's why they provide this facilities. If using hardware smart wallet we  both  get benefitted that really nice.
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