Samsung: Smartphones are the Most Secure Device When Using Cryptocurrency

[Ezenwanyi1]

I prefer smartphones over laptop because they are more convenient to carry about unlike laptop.

[IndigoRed]

And aren’t Samsung phones adopting iris scans now for added protection? Then yes. These kinds of smartphones will make great gadgets for protecting cryptos and other transactions.

[jtrapirap]

Excellent thread very informative, thanks for sharing mate. Smartphones aside from being handy and portable, has become a vital part of our daily life for communication. This news might encourage other leading and big mobile phone industries to adopt and promote cryptocurrency as part of their marketing strategy. Mobile phone plus cryptocurrency is a perfect combination for a brighter future in the blockchain era.

[Elmer1]

Excellent thread very informative, thanks for sharing mate. Smartphones aside from being handy and portable, has become a vital part of our daily life for communication. This news might encourage other leading and big mobile phone industries to adopt and promote cryptocurrency as part of their marketing strategy. Mobile phone plus cryptocurrency is a perfect combination for a brighter future in the blockchain era.

I glad to help for this forum. Always care in scammers and hackers .

[syesraypb]

Maybe one of them is true, but it's all come from us. Don't let people know your seed, don't use free vpn apps, just sownload app from google play,.. Keep in mind of those then you will never be hacked. For example, just a few days ago, alot of people using Myetherwallet lost all token in their wallet because they used HolaVPN - a free extension. Because Hola is a P2P network, you and some one else can actually in one proxy server, that's explanan everything.

[bjmpoker001]

Yeah that is quite true. Not many holes of vulnerability in smartphone more than in PC. But the problem is the app of your smartphone.
We must using the most trusted app in our smartphone, otherwise we just give chance for hackers to hack our wallet with their shady apps.

[basyang]

According to Samsung, the $290 billion behemoth which dominates every major industry in South Korea, smartphones are the safest device to use when transacting using cryptocurrency

Smartphones Over Laptops

Smartphone wallets such as Blockchain and Jaxx are the go-to applications the majority of cryptocurrency users utilize to send and receive payments with digital assets.

Joel Snyder, a senior IT consultant, a contributor to Samsung Insights, explained in a recent paper that smartphones are significantly more secure than laptops and other devices, because of the presence of the Trusted Execution Environment(TEE)

Most smartphones have a native environment called the TEE, which operates as a separate execution environment with its own memory and storage, isolated from the device. Hence, not even the operating system (OS) like Android can reach into the TEE and potentially initiate alterations in its memory.

In an event of a hacking attack or a security breach, attackers cannot possibly break into the TEE and attempt to steal data such as the private keys of cryptocurrency wallets because the TEE exists completely independent of the device.

On laptops or computers that rely on conventional persistent storage units such as a hard disk or an SSD, a hacker can easily break into the storage and steal valuable financial information, including data pertaining to cryptocurrency wallets, that could lead to the loss of funds and holdings stored in digital assets.

Snyder explained:

“This is why smartphones have an edge over laptops and desktops for cryptocurrency wallets: without the benefits of the hardware-based TEE, the keys are more vulnerable. There is a significant caveat: a naïve wallet developer might choose to simply store the keys on the normal internal storage of the phone, in which case there’s little additional protection from using the smartphone platform. Or the wallet itself might be malware, in which case all bets are off. But with the right wallet leveraging the benefits of smartphone TEE, there’s no place safer to store your money.”

Well, I do not know if samsung are the most secure device when using cryptocurrency, because I am not a samsung user. However, if its true or not just always be careful for downloading some malicous sites, do not used a free vpn because it can be a devices to use for stealing your personal information in your phone. Hopefully, its a true news because all of us needs a device to secured our crypto in our phone.

[Pan Troglodytes]

Yeah that is quite true. Not many holes of vulnerability in smartphone more than in PC. But the problem is the app of your smartphone.
We must using the most trusted app in our smartphone, otherwise we just give chance for hackers to hack our wallet with their shady apps.

Yes very true. I wonder how they can advertise Samsung as the very secure device for cryptocurrencies when with all the apps on your phone you can have like hundreds of different viruses and trojans. How does it relate with all that "security"?

[ShowOffoN]

The comparison of safety between computer and smart phones do make sense albeit, does it really have to be just Samsung? There are other brands that are smart phones too, right? I do have LG and thank goodness, so far, I have not encountered any security issues yet on my digital transactions.

[BlackHills41]

There are no smart phone which are suitable for crypto because phones are frequently connected to Internet and also it is frequently using for shearing data.

[messito]

no I think that smartphones can be just as hacked as a laptop and Samsung is published only for the sake of the HYIP of its product

[Fatanut]

There are no smart phone which are suitable for crypto because phones are frequently connected to Internet and also it is frequently using for shearing data.

A computer is always connected to the Internet and is used for sharing data as well, doesn't make it not suitable for crypto.

The comparison of safety between computer and smart phones do make sense albeit, does it really have to be just Samsung? There are other brands that are smart phones too, right? I do have LG and thank goodness, so far, I have not encountered any security issues yet on my digital transactions.

And they are essentially the same thing too. It's just a matter of hyping their products. It's not just Samsung in specific where we can apply the explanation.

It honestly is not about what device that you have. Others believe that Apple can never have a virus since you can't download just any file from the Web using that phone. Does anyone really know someone who got their Smartphone hacked? I have friends who click every Ads and pop-up prompts but they never got their phone hacked. In a computer, these people have tons of virus what does those virus do? The most troublesome I encountered was a virus that auto-downloads and installs apps without your knowledge. Other than that? Nope.

It's all about the gullibility/negligence of people. And that's where we should focus on. People sometimes mistakingly uploads their private key instead of their bitcoin address. There are also some who uploads their private keys on their facebook messenger. They send a message to themselves. Once their facebook account is hacked, so is their bitcoin addresses. Was that caused by which Smartphone were you using? No. We have to focus on educating people so we don't get tons of virus in our computers (not because they take our bitcoins away but because they are annoying) and how to avoid being taken advantage of by someone from the Internet.

[Tszone]

I think Hardware wallets are more secure than wallets in smartphones. Smartphones can get hacked online via WiFi or offline via Bluetooth connection but hardware wallets are mostly offline which means it can easily be accessed.

[ExpediteStyle201]

I really don't understand how could samsung give this kind of statement because phone is the most dangerous divice for cryptro currency.

[Leadership58]

No, i totally dis agree with this statement because no phone can be suitable for using cryptocurrency, phones can easily be traced.

[lee cooper]

Indeed Samsung smartphone has a high level of technology and this device can be used in crypto mining, but for security is not so sure, the problem is this smartphone can be lost or dropped.

[AfterRealLife87]

Those device which are frequently connected to internet and also can be stolen very easily can never be suitable for crypto because with that device we may lost our everything.

[Pan Troglodytes]

(...)

It honestly is not about what device that you have. Others believe that Apple can never have a virus since you can't download just any file from the Web using that phone. Does anyone really know someone who got their Smartphone hacked? I have friends who click every Ads and pop-up prompts but they never got their phone hacked. In a computer, these people have tons of virus what does those virus do? The most troublesome I encountered was a virus that auto-downloads and installs apps without your knowledge. Other than that? Nope.
(...)

I have to disagree. Maybe you were lucky with your viruses, but the net (even this forum) is full of stories of people who had the phones or computers hacked and used to do some financial freud (the virus can for instance replace the legit bank account or bitcoin address with the attacker's one, making you send your money to the attacker).

The phones are actually much more dangerous when hacked, because they not only can access bank accounts or wallets, but they usually act as 2FA devices, in effect the attacker controls both authentication channells of the victim.

And have you heard of viruses that encrypt the victim's hard drive? The attacker says they would reveal the key only after you have send them bitcoin.

[spadaccino]

Well if you're using Androin on it I do not think so mates. You can be contgrolled in every way back to the central server and so you private key you hold inside it. So be careful and think twice before acting.
If you really want the truly proivacy choose a free software smartphone approved by free software foundation and you can be sure you're ok with that

[musta5a]

According to Samsung, the $290 billion behemoth which dominates every major industry in South Korea, smartphones are the safest device to use when transacting using cryptocurrency

Smartphones Over Laptops

Smartphone wallets such as Blockchain and Jaxx are the go-to applications the majority of cryptocurrency users utilize to send and receive payments with digital assets.

Joel Snyder, a senior IT consultant, a contributor to Samsung Insights, explained in a recent paper that smartphones are significantly more secure than laptops and other devices, because of the presence of the Trusted Execution Environment(TEE)

Most smartphones have a native environment called the TEE, which operates as a separate execution environment with its own memory and storage, isolated from the device. Hence, not even the operating system (OS) like Android can reach into the TEE and potentially initiate alterations in its memory.

In an event of a hacking attack or a security breach, attackers cannot possibly break into the TEE and attempt to steal data such as the private keys of cryptocurrency wallets because the TEE exists completely independent of the device.

On laptops or computers that rely on conventional persistent storage units such as a hard disk or an SSD, a hacker can easily break into the storage and steal valuable financial information, including data pertaining to cryptocurrency wallets, that could lead to the loss of funds and holdings stored in digital assets.

Snyder explained:

“This is why smartphones have an edge over laptops and desktops for cryptocurrency wallets: without the benefits of the hardware-based TEE, the keys are more vulnerable. There is a significant caveat: a naïve wallet developer might choose to simply store the keys on the normal internal storage of the phone, in which case there’s little additional protection from using the smartphone platform. Or the wallet itself might be malware, in which case all bets are off. But with the right wallet leveraging the benefits of smartphone TEE, there’s no place safer to store your money.”

there is some sense in this claim given the amount of viruses in phones is definitely lower than in computers, but it doesn't mean you can't get virus in phone and it's safe in general