Samsung says that smartphones are the safest way to store cryptocurrencies

[ListingOnly561]

I don't know on what point of view Samsung say this because it is the most worst idea to store our crypyo in our phone because it is the most unsafe thing.

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[Fundalini]

I don't know on what point of view Samsung say this because it is the most worst idea to store our crypyo in our phone because it is the most unsafe thing.

Which is why nothing can beat the good 'ol hardware wallets. Phones are more prone to deterioration since it is used every day. The wear-and-tear in these devices put a huge risks to the the assets stored in it's wallet.

[GeorgiyBilyk]

samsung is a very good company - they have chosen a new crypto trend and are developing very well in it! they pay great attention to safety! I think that their development will bring many useful things, as well as make it easier to work in a crypto system and exchange crypto coins!

[bitfocus]

Android phones are not much stable, they needs to be reseted often, also, cellphone gets stole - not a good idea.

[Sexie]

Samsung Electronics, a giant of the Smartphone manufacturing industry, recently commented through its official blog that cryptocurrency wallets based on mobile phones are the safest option for the short and medium term storage of cryptocurrencies.

The post explains that smartphone-based cryptocurrency wallets are a very safe place to store digital money, at least the equivalent of the amount we could store in our physical wallet. To save long-term cryptocurrencies, Samsung recommends creating multiple backups of the private key associated with the wallets.

The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.

The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).

The TEE runs its own execution independently, which means that the RAM and storage of the phone are separated from the main operating system of smartphones.

Because of this, the Android operating system can not directly access the TEE, even if the operating system is hacked. In this sense, you can only access the TEE through an application programming interface (API).

Did you like this article? Don’t forget to follow @Braziocoin on instagram to stay up to date with all the news of the cryptoworld.

Want to BUY BRAZIO COIN? Check out Braz.io for more info.

This such a good News from Samsung for the crypto users , having a hard wallet into Smart phones wherein it is safe to store cryptocurrencies. It is more convenient to everyone while crypto are being used as payment  and exchanging it to cash .You just can do it  anywhere  when Bitcoin or other  cryptocurrencies are being accepted. Meanwhile Smartphones can just  surely collect charges  for every transactions , just like on sending and receiving  crypto to your wallet. Surely everytime when you are spending.coins from Smartphones.

[drm]

Samsung Electronics, a giant of the Smartphone manufacturing industry, recently commented through its official blog that cryptocurrency wallets based on mobile phones are the safest option for the short and medium term storage of cryptocurrencies.

The post explains that smartphone-based cryptocurrency wallets are a very safe place to store digital money, at least the equivalent of the amount we could store in our physical wallet. To save long-term cryptocurrencies, Samsung recommends creating multiple backups of the private key associated with the wallets.

The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.

The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).

The TEE runs its own execution independently, which means that the RAM and storage of the phone are separated from the main operating system of smartphones.

Because of this, the Android operating system can not directly access the TEE, even if the operating system is hacked. In this sense, you can only access the TEE through an application programming interface (API).
 
Did you like this article? Don’t forget to follow @Braziocoin on instagram to stay up to date with all the news of the cryptoworld.

Want to BUY BRAZIO COIN? Check out Braz.io for more info.

This such a good News from Samsung for the crypto users , having a hard wallet into Smart phones wherein it is safe to store cryptocurrencies. It is more convenient to everyone while crypto are being used as payment  and exchanging it to cash .You just can do it  anywhere  when Bitcoin or other  cryptocurrencies are being accepted. Meanwhile Smartphones can just  surely collect charges  for every transactions , just like on sending and receiving  crypto to your wallet. Surely everytime when you are spending.coins from Smartphones.

And since people bring their smartphones anywhere, more chance to lose/damage your phone/wallet.

[Gytza]

Some people use their smartphone wallets for airdrops. There's Jaxx, Trust, O3, Coinomi... It seems to me it is quite easy and I don't know why wouldn't it be safe? As long as you keep your private keys and passwords stored safe somewhere off-line (written on a piece of paper and stored somewhere safe for example).
But I don't se how it could be safer than a plain paper wallet or a Nano Ledger+Meta Mask?

[jtrapirap]

Thanks for sharing mate. Excellent thread, concise and very informative. This great news might boost and inspire big and leading smartphones companies involvement in advertising and promoting cryptocurrency. Smartphones aside from being handy and portable has become one of the most important gadget and technological device we always use today, for communication, browsing the net and now hopefully make monetary transactions via blockchain technology itself. As i have noticed also recently, Samsung has been active with promoting the use of Bitcoin. This is indeed a great news to the whole cryptocurrency community as well.

[SecureCryptoPayments]

I think saving digital money on the phone is essential but it is easy to hack or steal. Because it seems that the android operating system is an open operating system and it is easy for hackers to hack and steal data

Yes. Unfortunately, the android is not such a reliable operating system now. But let's hope that Samsung announcing such news will be able to develop and protect.
# support SecureCryptoPayments

[nisse44]

even if they are the safest way, i would not suggest to use them as a "main" wallet. Keep in mind a smartphone is a daily use gadget. what if you drop it on the street or you get robbed by a thief on the streets and so on. nono no matter if android or ios device.

[aleksej.rozhkov]

samsung is a very strong company and a lot of people listen to their opinion! I think that in the future there will most likely be small crypto wallets that will be in our phones!

[Eddi45]

I do believe that Samsung is correct .. smart phone are the best option , because of it's easy access it provides to wallets

[IdoandWill]

To be honest, it is not a great idea to walk around with your wallet in a smartphone. In some countries smartphones are thieves first target, besides there also is a possibility to loose or smash your phone.

[bitfocus]

whats the big point? will Samsung cover any loss for stolen phone?

[Dmitry.Vastov]

Samsung Electronics, a giant of the Smartphone manufacturing industry, recently commented through its official blog that cryptocurrency wallets based on mobile phones are the safest option for the short and medium term storage of cryptocurrencies.

The post explains that smartphone-based cryptocurrency wallets are a very safe place to store digital money, at least the equivalent of the amount we could store in our physical wallet. To save long-term cryptocurrencies, Samsung recommends creating multiple backups of the private key associated with the wallets.

The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.

The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).

The TEE runs its own execution independently, which means that the RAM and storage of the phone are separated from the main operating system of smartphones.

Because of this, the Android operating system can not directly access the TEE, even if the operating system is hacked. In this sense, you can only access the TEE through an application programming interface (API).

Did you like this article? Don’t forget to follow @Braziocoin on instagram to stay up to date with all the news of the cryptoworld.

Want to BUY BRAZIO COIN? Check out Braz.io for more info.

Bitcoin is the most sustainable, popular and most successful crypto currency available in the market and they promise that their transactions are safest and the most confidential one and its like impossible to hack bitcoin account or to steal your bitcoins unless you share any of your confidential information with anyone and secondly it is very very good news to hear that such a huge smartphone company Samsung is now thinking something about the crypto, all I want to say is that the era of crypto has been started.

[Variogam]

The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.

The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).

Good advices. If you put spendable in the subject title as well, it would not be controversial anymore (but at least I can confirm you have skills how to create click-bait titles)

[Frances_McGlothlin]

The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.

The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).

Good advices. If you put spendable in the subject title as well, it would not be controversial anymore (but at least I can confirm you have skills how to create click-bait titles)

Haha good point. This thread has drawn a lot of attention just because if its name. I wouldn't ever be so assuming to believe that a phone is the safest place to store anything, let alone a savings account of bitcoin.

Although people have begin to live solely off of their phones these days. A lot of people don't even use computers anymore. They only need access to email, social media, banks, and now crypto wallets. So I guess if it has that much value, you could try to treat it as an account. With a detachable chip for savings, of course.

[batang_bitcoin]

whats the big point? will Samsung cover any loss for stolen phone?

The point is we can bring everywhere our spendable crypto's. If you are a person that loves to spend crypto everywhere in your place that has shops accepting crypto then you have to bring it. And about the funds, they warned that its recommended to create your own back up. Being a responsible crypto holder fits it if your phone has been stolen or damaged.

[airdnasxela]

This statement "Samsung says that smartphone are the safest way to store cryptocurrencies " implies that Samsung smartphone can now function as a hardware wallet because it is something that is tangible. The problem with this concept is that when you lost your phone. When you lost your phone, there are many possibilities that could happen in an instant. Your bitcoin might be turned into nothing in just a matter of time. Also, it might be vulnerable to hackers because that is a phone and a phone is really vulnerable to hacking. A proper care must be employed when using this kind of wallet.

[jak3]

I don't think that's true at least not for all the situations, a good hacker always thinks if something is accessible to you then that is also if possible to all around the world because they are going to spoof your identity and become you. We can take a serious level of information if they can get around your device in this case that is a smartphone. Let's talk about an unimaginable scenario where you have to keep a backup of a phone let's say nandroid backup and the hacker gets that somehow now he will not only have access to your cryptocurrency details but also to everything around your phone in exact order that means even you have open any tab in Chrome that information is also available to the hacker.