$ 29,438.00 0.83%
$ 1,974.27 0.83%
$ 50.12 0.68%
$ 0.084515 0.33%
$ 8.07 3.89%
$ 1.36 0.06%
$ 0.000118 6.89%

Samsung paves crypto adoption road with private key protection

sAmsung launches private key protection in new models

Mobile companies have finally started taking moves for crypto enthusiasts and its further adoption as HTC launches Exodus with built-in cold crypto storage. Now even Samsung that is one of the biggest smartphone manufacturers has implemented a system that will protect private crypto keys.

Although, Samsung is not the first one to do so it is the largest one yet as in the first quarter of 2018 the company sold almost 30 million Galaxy S9s.Not only that but those are the company’s smallest selling numbers after Galaxy S III. The current number of people that have a blockchain wallet is almost 32 million. Therefore, Samsung S10 can potentially double that number.

This means that a lot of people will be introduced to cryptocurrencies. Another thing to be noted is that the news announced in a time which many people called the crypto winter.

Moreover, this will ease things up for people that are already familiar with cryptocurrencies. People carry smartphone almost 24/7 and can, therefore, make transactions on the go.

Moreover, Samsung is a trendsetter and will attract many other companies to follow suit. Similarly, Huawei has announced support of cryptocurrencies by allowing access to Bitcoin wallets that will come pre-installed through the latest Huawei and Honor phones.

Experts are predicting that the launch of a crypto wallet is just a minute part of their huge plan. Expectations are that the company will launch its own blockchain solutions or other products with similar goals.

However, storing private keys on a cell phone is not the most secure way and can result in huge losses if not careful.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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