Samsung says that smartphones are the safest way to store cryptocurrencies

[xtrump101]

This sounds promising, however according to john mcafee smartphones are more vulnerable than desktop computers, but base on the explation of the article it has a point of security thats the first time i heard of that TEE thing and if it really works the adoption of cryptocuurrencies i think will be faster than ever before.

[[ProTrader]]

I agree that private key should not be place in a device like smart phone because it can easily be hack by hackers. I hope that Samsung phones are secure because if this information is legitimate then I guess we need to shift our device to Samsung.

[veleten]

all Samsung wants is to sell more of his products
smartphones might be a good way to store cryptocurrencies but not for everyone and in every scenario
for a day to day use and small change it is very convenient and easy
but will you ever trust several bitcoins to your smartphone? I highly doubt that
but for Samsung this statement is just another PR action and a marketing move, so well played

[thunderbitz2717]

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!

Yes really good news. Huawei also announced plan to create a Bitcoin wallet app a couple of months ago - http://www.ccreview.com/news/bitmain-launches-first-huawei-store-bitcoin-wallet-app/

Really, this is really a great news. I cannot imagine, that someday every people using their phone will going to be useful to store any crypto/bitcoins through the hard wallet development not only in the smartphones but also to all cellphone companies as well.

[Saint-loup]

The show will be live broadcasted on Youtube in less than 2hours now (19:00 UTC)

https://youtu.be/ISjiJQGJ72o

[Sirait]

I really agree with Samsung's opinion.. Nowadays smartphones are the safest place to store crypto assets because,
- smartphones have become a primary human need, and are always carried anywhere.
- The Google Authenticator app is very efficient on smartphones.
- backing up data is easier and safer

This reason I think makes a smartphone the safest place to store crypto assets.

[Saint-loup]

I really agree with Samsung's opinion.. Nowadays smartphones are the safest place to store crypto assets because,
- smartphones have become a primary human need, and are always carried anywhere.
- The Google Authenticator app is very efficient on smartphones.
- backing up data is easier and safer

This reason I think makes a smartphone the safest place to store crypto assets.

Ok but we are waiting for this :

[bitbunnny]

Well, the first aim of Samsung is to sell as much phones as they can so I see this as an advertisment. They hope to get even more customers, especialy those who use Bitcoins. Smartphones could be very convenient for storing Bitcoin especialy because we carry our phones always with us but maybe not the safest, at least not for every user. There is no 100% security so besides storing Bitcoin there choose also some other places to store your coins. To split your coins is the safest way, if something happenes you will not lose all your coins.

[Mikwik]

Well, for me, I definitely agree with this. Because right now, I am just using my smartphone storing my bitcoins and crypto currencies just with the use of my phone having the different mobile version wallets I have. I am very grateful that I can pay, buy and any other payment transactions I can make just with a little time and less effort going to send and receive money around the globe.

[Bonsaiav]

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 role of Samsung by embedding hardware wallets into their cellphones is indeed quite neat and one step ahead, their aim is nothing but so that their sales can penetrate among cryptocurrency users especially bitcoin, as stated by others. But besides that, there are other benefits that we cannot deny that what Samsung does's really making it easier for cryptocurrency users to secure their funds in the cryptocurrency format far from hacking. In the future, it's likely that other cellphones will follow the steps taken by Samsung, so this will certainly raise a number of questions among smartphone buyers, and when that happens, this's an opportunity for us to answer them while educating them about the world of bitcoin/cryptocurrency (hopefully they are many who are interested), so we can expect the growth of new users in the future.

[Saint-loup]

https://www.ccn.com/samsung-galaxy-s10-bitcoin-crypto-support

[Silberman]

Well, the first aim of Samsung is to sell as much phones as they can so I see this as an advertisment. They hope to get even more customers, especialy those who use Bitcoins. Smartphones could be very convenient for storing Bitcoin especialy because we carry our phones always with us but maybe not the safest, at least not for every user. There is no 100% security so besides storing Bitcoin there choose also some other places to store your coins. To split your coins is the safest way, if something happenes you will not lose all your coins.

If that is their aim then they are going to fail because we are not like their mindless customers that just have to have the newest smartphone, we can think and we can install our own wallets without any problem in a smartphone if we wanted but many of us do not do that because that is a terrible idea, if you are going to spend that much money to store your coins then it is a better idea to just buy several hardware wallets.

[MonsterV]

But in my opinion, on the contrary, purses on smartphones, especially Android, are still very vulnerable to security. I have seen someone hack an Android cellphone through a trojan virus inserted in the apk and which the victim will install later. If you choose a smartphone as a wallet, it's better to use apple products that have guaranteed safety

[joshv06]

Well, for me, I definitely agree with this. Because right now, I am just using my smartphone storing my bitcoins and crypto currencies just with the use of my phone having the different mobile version wallets I have. I am very grateful that I can pay, buy and any other payment transactions I can make just with a little time and less effort going to send and receive money around the globe.

It is good news and flexible solution for those want to store crypto wallet in terms of software but there are bit security issues where these private key can be hacked. But Samsung can build prototype to protect wallet against hackers and provide MFA for accessing Samsung crypto wallet. Or other strong encryption mechanism to adopt for additional security.

[btcdevil]

I think even with electrum andrioid wallet you can access your wallet by installing it in any smart phones and access it, even the electrum wallet can be accessed any where from passphrase. So you are fully protected but in samsung phone do they give you private key for the wallet so that if the phone gets problem we should be able to acces  the wallet from other option also.

[tegarp90]

Isn't it offline wallet is the best ?
Because smarthphones are likely connect to the internet, i think it's no way safer than the offline wallet.
Also smarthphone are sometimes missing because we carried it to all places

[Nolimitz84]

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.

Complete agreement.Even if the phone is not lost,there are still people who will find a hole in android and steal what is necessary.Just now it is not relevant and no one cares about cryptocurrency wallets.(I mean globally).As soon as everyone starts using cryptocurrency wallets on their smartphones and there will be a lot of money spinning, I’m sure someone will find a way to steal assets.

[Wendigo]

Has anyone bought the HTC Exodus phone? It's a smartphone specifically designed to keep crypto coins safe with custom OS and whatnot. I have been eyeing that phone for quite some time and am wondering whether or not to splurge on it. HTC claims that the phone is super secure but I don't know. The problem is that HTC are in a very bad shape and can go bankrupt any time now and all support will be dropped abruptly.

[tuvok007]

But in my opinion, on the contrary, purses on smartphones, especially Android, are still very vulnerable to security. I have seen someone hack an Android cellphone through a trojan virus inserted in the apk and which the victim will install later. If you choose a smartphone as a wallet, it's better to use apple products that have guaranteed safety

It is known that Apples ecosystem is much safer than android.and how come that no one used the joke about galaxy fold fiasco and safety 

[teejayrichard2]

Everything that has an advantage, has a disadvantage. Storing crypto using smartphones is good but then what if the phone crashes or gets lost. This is something we should put into consideration. Though its very good being able to access your crypto anywhere at your convenience since they are stored in your phone. Thanks to improved technology