Samsung: Smartphones are the Most Secure Device When Using Cryptocurrency

[Pan Troglodytes]

(...)
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

What about the 2FA which gives the additional vector attack for phones, compared to computers? I'll explain: phones can be used as 2FA devices what means that the attacker can control the second authentication channell too.

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[fzavertuk]

it's more like a Samsung commercial . I believe that any smartphone is safe for crypto operations. They are more protected from extraneous programs than computers. But each lock has its own key. And the key can always be done. Therefore, there is no 100% safety.

[Gary Levanevskii]

I think that a smartphone is not the best place to store cryptocurrencies. If you store a large amount. If you store a small amount, then the storage of cryptocurrency on a mobile phone is convenient.

[ribowo76]

This means smartphone, whatever the operating system.It tends to be safer to store our digital assets, rather than using a laptop or computer?Honestly, I just understood about that

[BitcoinNewsMagazine]

There is nothing wrong with keeping the amount of bitcoin you are willing to lose in a hot wallet on a smartphone. Nowadays Trezor or Nano S hardware wallets are cheap and can be used with Mycelium on Android with an OTG cable keeping your private keys completely off the phone. That's the safe smart way to use bitcoin with a phone anything else is a distant second best.

[libert19]

(...)
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

What about the 2FA which gives the additional vector attack for phones, compared to computers? I'll explain: phones can be used as 2FA devices what means that the attacker can control the second authentication channell too.

Anything is secure as you make it out to be. You can lock your Google authenticator (or whichever app you use) with fingerprint or something? Enable remote wipe so even if you lose phone you can clear its data so thief can't steal anything from your phone.

And of course keep those 2fa keys secure somewhere to avoid headache later on.

[Fatanut]

(...)

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.

To those people, I say "What the hell have you been doing with your computer?" and it's mostly the people who likes to post about deep web stuff that gets such virus. Why would hackers ransomware attack random people when most people haven't even heard of bitcoin? They are attacking larger companies. Just like in this video where a police station got a ransomware attack multiple times: VICE: How easy it is to get hacked? Now let's ask ourselves, why would hackers care about our pdfs, documents, or excels? They wouldn't. They are targeting institutions who are in need of their files in order to get going with their job so they are pretty much forced to pay for it.

People who gets extreme virus in their home computer are probably doing nasty stuff with their PC. The surface net doesn't have this type of virus. If you're only browsing the typical youtube, IG, facebook, etc. how can you catch these viruses? Plus, it's the people who likes to dive deep into the net who doesn't even understand how to keep their computers secure. They are probably using Windows Defender, ffs.

I'm using the Internet 10-16 hours a day yet my computer is as clean as it can get. It's all about getting rid of the virus and not getting the virus. You have to be weary of little things like your browser changing the homepage, or changing the search engine (instead of Google or whatever you set it), and your computer downloading things or installing new apps without your permission.

[Jansaa]

Mobile devices have an advantage over PCs: They are personal devices, if it's good, it's very safe! Digital money wanted success must be widely used on mobile devices!

[Rashid555]

it is true that Samsung is better for using the websites of crypto exchanges and other online facilities are good to see on smartphones. Other than Samsung few models can do it and Crypto sites are important to see regularly for market survey and finding potential coins.

[wantjokull]

I always thought smartphones were a lot safer due to most likely less malware targeted at them(though not 100% sure), unless your phone is rooted and you're giving a lot of special permissions to random scammy apps. Though I've always though up to date iPhones were more "secure" compared to Samsung phones or android phones in general.

Nothing beats a hardware wallet over-all in terms of security+ease of use though.

Yeah, why not just go for the ledger wallets anyways. If you are really into the crypto with full time of your life then go get some bucks saved for the purchase of crypto hardware wallets which re specially designed for this purpose of storing and securing the funds. Why one should be storing the hell lot of the coins over the smartphones if the question and comparison of security even arises in the reality. I am sure we should be using the smartphone for making the calls and taking photos rather than storing our valuable crypto coins over it. Now Samsung might just talk about the crypto for publicity stunts and nothing else.

[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.

To those people, I say "What the hell have you been doing with your computer?" and it's mostly the people who likes to post about deep web stuff that gets such virus. Why would hackers ransomware attack random people when most people haven't even heard of bitcoin? They are attacking larger companies. Just like in this video where a police station got a ransomware attack multiple times: VICE: How easy it is to get hacked? Now let's ask ourselves, why would hackers care about our pdfs, documents, or excels? They wouldn't. They are targeting institutions who are in need of their files in order to get going with their job so they are pretty much forced to pay for it.

People who gets extreme virus in their home computer are probably doing nasty stuff with their PC. The surface net doesn't have this type of virus. If you're only browsing the typical youtube, IG, facebook, etc. how can you catch these viruses? Plus, it's the people who likes to dive deep into the net who doesn't even understand how to keep their computers secure. They are probably using Windows Defender, ffs.

I'm using the Internet 10-16 hours a day yet my computer is as clean as it can get. It's all about getting rid of the virus and not getting the virus. You have to be weary of little things like your browser changing the homepage, or changing the search engine (instead of Google or whatever you set it), and your computer downloading things or installing new apps without your permission.

The company computers that are targetted get infected not because all the victims like to go to the same fishy sites, but rather the virus gets sent out as a link in an internal email or there is some crawler that infects the computers via some compromised and not firewalled port or protocol. Even if you may be right that regular people will not be directly targetted, both attack vectors can make other computers "collateral" victims, as regular people may get the email and click the link or run the exec file or the crawler may just crawl unto their computer.

I am not saying that there are no countermeasures. Every sane person will use a firewall and an antivir and they will be smart enough not to click suspicious links. But there is this race - new viruses, new attack vectors, they all try to outrun the antivir software and outsmart firewalls.

All I want to say is that I consider viruses a very serious threat, to my bitcoin and bank accounts too (and don't want to underestimate this threat).

[ksupriya94]

I agree smartphones are safer than laptop and desktop. Its not 100% secure but if you are using it carefully then these devices are best to keep your digital currencies.

[anshkumandhan]

I do not think all the smartphones are totally safe because if we open any phishing website or miscellaneous website, then our device can easily hack and steal all of our data. But if we use hardware wallet and Google Authentication with our phone to protect our funds and this can be avoided.

[Oshvam]

This is the most interesting info.

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.

[libert19]

I still think security should be of the utmost concern to those using smartphones for cryptocurrency transactions, so users should download a reputable virus scanning app and be cautious about using the right security features with the phone. Where there's a will among hackers, they will eventually find a way to exploit the device.

Anti-virus apps for mobiles are pretty worthless imo. Keep your os up to date, don't install shady apps and visit such websites, use reputable crypto wallet (mycellium, coinomi). You should be good.

[aoihs00]

(...)
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

What about the 2FA which gives the additional vector attack for phones, compared to computers? I'll explain: phones can be used as 2FA devices what means that the attacker can control the second authentication channell too.

No it cant be done so easily. If you re using the computer or laptop then you are just using it to open or access that website over the IP however if you are having the 2FA activated which will be via your smartphone then you are still very much secured. Because as long as you dont put the authentication code generated you wont be able to gain access.

Tell you what even when the hackers get your passwords then also he wont be able to access the site or account without that 2FA. And 2FA always keeps changing every other 10 seconds and never repeat itself ever.

I guess this combination of both is far more secure rather than just using the phone.

[samuel23]

I like that Samsung is taking crypto seriously and even going to produce some miners!

[entar pasar]

I hope it can be applied immediately, I think the security on smartphones can be very safe as in hardware crypto wallet such as ledger

[Siti Nurbaya]

Samsung does have advantages and is safe for crypto mining but it will certainly be limited. It's just not safe if this cellular is not stored carefully, because many real crimes will rob.

[Cryptogid]

You can't be all that certain  of the specific device to give you the security  measures  you  are talking  about,one only need to be careful, activate  certain  security  measures  like 2fa code, OTP, possibly  the features  the phone has, or computer system..