Samsung Hardware Wallet

[dkbit98]

Samsung announced that Galaxy Devices smartphones (that have Android OS 9.0 or above) with Samsung Blockchain Wallet will support third-party hardware wallets like ledger nano s and ledger nano x.
Phrase third-party probably means that Samsung is working on their own Samsung Hardware Wallet, and we know they like to make all kind of gadgets and devices.
They already have separate operating system on their phones called Samsung Blockchain Keystore, they partnered with Gemini exchange before, and they are serious about Bitcoin and crypto so I would not be surprised to see Samsung branded hardware wallet soon.
https://news.samsung.com/global/samsung-makes-it-easier-to-use-blockchain-on-galaxy-devices-with-support-for-hardware-wallets

[20kevin20]

We all know Samsung. They aren't much different from Apple regarding their products - they'd obviously rather only allow their products rather than allow Ledger and Trezor as well. From now on, Trezor & Ledger'll be competitors.

It's interesting that there is no mention of open-source hardware wallets... their preloaded wallet app is closed-source as well, right? So good news for adoption, bad news for the sake of open-source and decentralization..

[HCP]

Phrase third-party probably means that Samsung is working on their own Samsung Hardware Wallet

Maybe... but I would think that the phrase is more likely used to indicate that while their Galaxy devices will have a Samsung software wallet available and that this wallet will be compatible with hardware wallets... there won't be a Samsung hardware wallet available... and you'll need to use 3rd-party devices.

[dkbit98]

their preloaded wallet app is closed-source as well, right? So good news for adoption, bad news for the sake of open-source and decentralization..

Yes, their Samsung Blockchain Wallet is closed source software, and Samsung is biggest Apple competition so if they ever made their own hardware wallet like I suspect, it will probably be closed source propriety device.
They only think about profits so why support other hardware wallet devices for Samsung phones when you can make your own and earn extra money from that.

[Stalker22]

Phrase third-party probably means that Samsung is working on their own Samsung Hardware Wallet

Maybe... but I would think that the phrase is more likely used to indicate that while their Galaxy devices will have a Samsung software wallet available and that this wallet will be compatible with hardware wallets... there won't be a Samsung hardware wallet available... and you'll need to use 3rd-party devices.

That is how I understood it.

"In addition to the Samsung Blockchain Keystore, Galaxy smartphones can now connect to hardware wallets including the Ledger Nano S and Ledger Nano X."

They even put a (conceptual) image of the Samsung Galaxy next to the Ledger Nano.

[dkbit98]

They even put a (conceptual) image of the Samsung Galaxy next to the Ledger Nano.

I would like to see how their Samsung Blockchain Wallet is actually working and connecting with ledger wallet, but I don't own Samsung smartphone so I can't test it.

If anyone have some free time and owns both ledger wallet and samsung phone, please post your feedback how everything works; note that you can download samsung wallet from their Galaxy store.

[SFR10]

note that you can download samsung wallet from their Galaxy store.

I tried looking for it but had no luck; I'm on Android OS 10, so I'm guessing only certain regions could access it ^{[apart from its limited support for certain Galaxy devices]}.

• In regards to the "third-party" phrase that you mentioned, seeing that Samsung most of the time goes with adding more value to their products as opposed to adding an additional product that adds value ^{[e.g. Samsung tablets that come with a stylus in comparison to Apple that charges a separate fee for those]}, I don't think they'll try to introduce their own hardware wallet anytime soon, but they might integrate their Samsung Blockchain app with an app like Samsung Pay ^{[just saw a video talking about it and I do know at this point, it's just a rumor]}.

[NeuroticFish]

I fear that this could be just yet another commercial gimmick to turn (y)our eyes towards Samsung.
You can already use your HW with your smartphone, whether it's Samsung or not. Yes, you need the actual HW and you may need a proper cable too.
Smartphones are some of the most stolen goods on the planet. I don't see any good in this news.


Also don't forget that, unlike hardware wallets, the Samsung phones no longer get updates after about 1 year (or 2?).

[Charles-Tim]

Smartphones are some of the most stolen goods on the planet. I don't see any good in this news.

We are even now in the world of lies where big companies will be making blatant lying information, if they make a hardware wallet phone, how can we be so sure it is truly offline wallet, also I doubt that this kind of wallet can be open source. There is truly nothing bad to just go for the hardware wallet that is not incorporated on phones that can not be easily stolen, hardware wallet is not a device someone should be carrying about like phones as carrying it about decreases it safety.

[hugeblack]

Does anyone think that a giant company like Samsung will create a decentralized wallet that provides a minimum level of privacy and that no party (government or other) can get access to it using backdoors?

I am not enthusiastic about that wallet, it may be an attractive option for those looking to keep their currencies more securely than keeping them at exchanges, but most often it will not be a separate wallet, but rather an addition to one of new Samsung devices as the price of the hardware wallet is cheap and Samsung can manufacture it at a lower price than the current prices.

[20kevin20]

Does anyone think that a giant company like Samsung will create a decentralized wallet that provides a minimum level of privacy and that no party (government or other) can get access to it using backdoors?

Right now, besides Trezor Model One and possibly Model T, I think all upcoming hardware wallets should be taken with a pinch of salt and suspicion. The US gov is clearly looking to get access to our hardware wallets, so new fancy models could be their perfect bait. And then, it's Samsung.. look up "Samsung privacy issues" on DuckDuckGo and you'd have a ton of results about spying concerns and so!