Samsung says that smartphones are the safest way to store cryptocurrencies

[bloodyvio]

although it is indeed the safest way to store crypto assets
but still if the user does not store the passphrase or private key, when the user loses their smartphone they also lose their assets

[Anyobsss]

although it is indeed the safest way to store crypto assets
but still if the user does not store the passphrase or private key, when the user loses their smartphone they also lose their assets

yes. It's looks like it is not as safe as they claim. They didn't consider the possibility that  smartphone can be lose by the user. however, it is still a great idea as it will be really convenient to use our own smartphones to store crypto.

[pixie85]

What would you say if a car producer said that cars are the safest means of transport or if someone making safes said that you should keep your money locked at home because it's the safest? It's a normal thing that they do it and they will keep doing it because that's how you make money. Smartphone can be stolen much easier than a computer from your home. Also, you can never be sure what tracking devices are in your phones.

[jerrison]

i strongly and unarguably agree with the fact that smartphones are the best way to store cryptocurrencies but the challenge is that most of the mobile phone wallets dont allow users the access to their wallet private keys and that i presume is very dangerous. they only allow the users have passphrase.

[pixie85]

although it is indeed the safest way to store crypto assets
but still if the user does not store the passphrase or private key, when the user loses their smartphone they also lose their assets

You can always keep a paper wallet at home or have another wallet on another device so that if you lose the phone or somebody steals it from you will be able to move the money before they're able to crack the wallet. I wouldn't keep huge money on a phone. Some spare change for everyday use, nothing more.

[Biscutard]

Smartphones could be the key but with the back door reset method is still up there in case we missed our phones or it may be stolen the hackers would have an easy access to your wallet unless of course if the passcode won't gone inside of the wallet. It could be dangerous if someone know that you do have a wallet in your smartphone.

[maumaugurin]

I think this statement is right in some case because people want to use the easy version and if we can do this with mobile then it will be great and beneficial for us also Samsung stated a good this and it is really great that they are now thinking about crypto world.

[Kimi80]

I do like the article. Samsung is maybe company that is doing the most to create telephone suitable for majority, to satisfy all the needs of average user and always being innovative. It is explained good but I still am not a hundred percent sure in device security. Beside that, it is not impossible to lose a phone, it can happen to most carefully person. At the end, I am totally okay to storage mine on desktop for now. When btc and alt coins became a worldwide excepted as a regular source of payment, I will buy one, just for everyday needs.

[Samaaliu]

This might be very true. As you would have observed, imToken which is mobile based is not easy to hack like MEW that is web based.

[_jshsnts]

we are surrounded by technologies, we can't tell that smartphones are the safest way to store our coins, still we are transacting using the given system, there's still possibility that it can be hacked by someone, it should tighten the security of the system where we store our coins so that we can store our coins everywhere using a trusted system.

[dobladonadouble]

I think that is a great idea in terms of conveniency. Here in the Philippines, workers have a lot of atm cards or credit cards. It's very much handy and not really convenient. So having a smartphone wallet is really benefial most especially to workers. The downside of it is that, your account and money are not that safe. The fact that it can be hacked or it can be stolen by holdapers and such. But all in all, it's a great step in advancing and diversifying to the usual concepts of keeping money.

[Ahimoth]

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.

They have a point but looking at a big picture I think that there's something in what they are saying. It's their form of advertising their product and in that case they will win over us. I support them on what they are saying because smartphones can be really used to store cryptos. Aside from that you can only bring it with you.

[airdrophunter]

Even how secure your crypto asstes will be, hackers can still hack them, that is if you as the owner is careless enough of your wallet information because even a slight amount of information a hacker can get, then expect for the worst of it as you may find zero balance in your wallet the moment they will ransack your crypto wallet.                                                                                                                                                                                                   

[KimmyF]

Well Samsung there has a point. That the smartphones are the safest way to store crypto currencies. In my own experience, I am using my smartphone in accessing here in the bitcointalk forum and as well as doing different jobs to earn different crypto currencies and use a specific wallet mobile here in my smartphone, and it was really convenient for me since I can use my smart phone in the crypto world to deal with it anytime and everywhere I am.

[Veterock]

It's a great idea to make a crypt wallet in the phone! But there is one problem! It can not be lost! otherwise you are a beggar

[Zalaster]

It's a great idea to make a crypt wallet in the phone! But there is one problem! It can not be lost! otherwise you are a beggar

In this I see the main drawback of this idea. Phone to lose so easily, in addition, it can be deliberately stolen.

[Sethrey]

Big companies that produce smartphones proved already that they can't be too safe. Hackers stole Apple user's data (and it's not only about Apple), mobile phones are burning, etc. How can anyone believe it and be sure in its safety? It's just another way of promoting the brand in order to get more buyers and nothing more. Maybe I'm mistaken but I would not believe it.

[Bitfling]

I am believe in the future, peoples will store their bitcoin and their crypto on smartphone and use it for shopping. Technology always improve and we are as consumer will more easily making transaction using bitcoin or cryptocurrency. I am believe it will happen after most government in the world regulate cryptocurrency

[Garrixx]

I do not think that this is the most successful way of storing. the most successful is the purse of the holding, but not a smartphone

[nikki4]

I am also glad that the crypto wallet for mobile version has been invented. This is a great help for those people that has no or cannot access their laptops in times of they need and wanted to be in the cryptocurrency community. So samsung is right there having safest to store crypto currencies in smartphones but not only that because it is also convenient for people.