Samsung says that smartphones are the safest way to store cryptocurrencies

[volos57]

an interesting feature for smartphones! the phone is always in my pocket. it is very important that the wallet is not connected with Android system. this means that taking possession of the smartphone wallet hack will not work.

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[Lankabc]

Yeah even I think now it is time to bring cryptocurrency to smart phones. Smart phones have been a must for everybody. a device is being used widely . Samsungs sees the future. I think this is a good move. for the smart industry and for the crypto world.

[GotNow]

This is great! Smartphones can now function as hard wallets? Wow! Just wow! It will be more convenient for us because we can now bring our hard wallets anywhere because we always have our smart phones. We can easily access our coins if ever we need to do some withdrawals or deposits because the wallets are already installed in it. Kuddos to Samsung for making this innovation!

Most of my friends and relatives are using smart phones to access and be updated in this forum. Also using as a machine by trading tokens that they get reward for a bounty campaign. Smart phones are so useful nowadays specially for those people that can't afford to buy a personal computer.

[eaLiTy]

It would be quite logical and anticipated that Samsung will be the first company to develop a smartphone with built in cryptocurrency storage wallet it would be nothing amazing.

It sounds really cool without a doubt but i would not dare to store my coins in my mobile wallet even if there are a lot of features because the risk are higher than we think, i am sure majority have lost a cell phone in their life time and the high risk of hackers getting hold of your data is another factor you have to consider when you plan on storing your coins in your mobile wallet.

[Shatterlean22]

Either way I'd use wallets that has seeds on my smartphone ,they are the safest,pls stay away from online wallets with no seed or pass phrase because you won't have total control over your funds

[stayeduptolate]

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).

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We all know that crypto currencies transactions are safest among all the form of currencies available in the market and the most important being so safest is its virtual form, being digital in form, its like next to impossible to hack bitcoin transactions and this safest transactions could be the most important reason that why millions of people find bitcoin to be that much trustworthy and the factors that makes bitcoin transactions so safe and confidential are that one it provides user anonymity and peer to peer transactions and then it also does not involve any third party seizure.

[Dean Collins]

It's so funny that it's not even funny. Who ever believes that smartphones are a safe way to store any data at all? It has long been clear how this system is arranged and Samsung definitely should not be trusted.

[boboshrish]

But how?? Because there are so many apps  in play store  who ask for  access  your contacts, sms, notepads, photos, call history, call recording , location etc.. before installation.  If u deny them then u cant install that apps. for installation you have to allow them. Then they  can easily access all your data  (where you saved your wallet details) which u allowed them. So how can b smartphones are safest way to store  cryptocurrencies.

[Cindrella88]

The thing that I would like to agree, remember if you plan to spend the electronic money in that year, the best wallet you will use is the wallet as it is ideal for on-the-move payments. You do not expect to keep the millions of dollars worth of mobile wallet applications but keeping a few thousand will not hurt as it's safe depending on your level of security from both the app and yourself. for your phone. I have chosen 2 security modes to protect my BTC more.

[s31joemhar]

I don't think so about this. As a one of the top grossing brands of technologies in the whole world Samsung is way better for me than other phone because of its capability to adopt technologies and upgrades happening in the market. As the time comes maybe Samsung will be one of the leading partners of Cryptocurrencies in the whole world but it is business though we don't want to loss money by hacking.

[umrohyuk]

It sounds good if it is true, the growth of digital money such as Bitcoin and other major crypto currency should be followed by the improvement of technology because Crypto currency can not be separated from technology. Most of Crpto currency users are expecting to store cryptocurrency in smartphones, it will make much better and easier.

[Chamaplal123]

But how?? Because there are so many apps  in play store  who ask for  access  your contacts, sms, notepads, photos, call history, call recording , location etc.. before installation.  If u deny them then u cant install that apps. for installation you have to allow them. Then they  can easily access all your data  (where you saved your wallet details) which u allowed them. So how can b smartphones are safest way to store  cryptocurrencies.

Yes you are right but if you talk about smart phone then may be PC ,Laptop also can get hack. so both are same. But now a days there are more bio-metric verification options available in  smartphone which can secure our money. So I think whatever samsung claims is right and i think there should be another button like hardware wallet in future models for conforming transaction for 2FA purpose.

[Compiler]

Well, there are already a couple or three companies like Samsung that also do the same, I do not know if it is the best for this because I have not tried it. Obviously Samsung will say that it is the best, but the opinion that counts here is that of the customers.

[Chamaplal123]

Well, there are already a couple or three companies like Samsung that also do the same, I do not know if it is the best for this because I have not tried it. Obviously Samsung will say that it is the best, but the opinion that counts here is that of the customers.

Samsung may say that but think as user don't you think bio-metric verification,2FA or OTP verification is the best solution to secure your transactions??

[HanaBin]

Of course you do not expect to keep the password worth millions for mobile wallet applications but keeping a few thousand will not hurt as it's safe depending on your level of security from both the app and yourself for your phone. I have chosen 2 security modes to protect my BTC more. It would be quite reasonable and predicted that Samsung would be the first company to develop a smartphone with built-in electronic money storage wallet it would be nothing great. How are Samsung related to making such claims? However, I think that portable wallets can be quite safe to hold coins. There are many factors that affect the security of coins on your cell phone. If there can be a means to restore it in such circumstances then no doubt it is the best way to store electronic money.

[elwiswoodie]

if SmartPhone is the best place to store cryptocurrency, then why do centralized exchangers tend to use Cold wallet as a place to store their crypto assets?
I think this is just marketing, and the safest wallet is a cold wallet

[jerichoparcon]

This is great! Smartphones can now function as hard wallets? Wow! Just wow! It will be more convenient for us because we can now bring our hard wallets anywhere because we always have our smart phones. We can easily access our coins if ever we need to do some withdrawals or deposits because the wallets are already installed in it. Kuddos to Samsung for making this innovation!

[Abbey85]

Although it says that smartphones are the safest way to store electronic money, the flaw still exists. Smart Phone Company has added that TEE on the Samsung Knox platform offers higher levels of security. The company warns that when TEE hardware is not available on laptops and desktops, private keys stored in these devices can easily be compromised. TEE provided, Samsung said that a new program would inevitably be faulty when the device was designed as a crypto key that stores its own key on the smartphone's hard drive, thus making it vulnerable to attack. Moreover, the wallet can also be infected with malware.

[ibrar.noman]

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.

yes, cryptocurrency wallets based on mobile phones are the safest option for the short and medium term storage of cryptocurrencies. people can deposit and withdraw their funds and can make sure the security of their wallet.

[PalindromemordnilaP]

I don't think keeping your crypto credentials kept in your smart phones are safer than any other alternative because your phone is easier to steal than your PC or any other device. Once the criminals stole your phone, they can always find a way to get into your phone's core and steal any information they can.