Samsung to Support Third-party Hardware Wallets Along With Blockchain Wallet

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Mayurchhanda Ghosh
Mayurchhanda Ghosh
An aspiring academic, freelance creative writer, theatre enthusiast, a part-time dreamer and a full-time learner.

Samsung has come up with good news for its users. The company has enabled features that would allow its users to access and manage virtual assets. Recently it has announced that blockchain users can control and continue trading their virtual assets on Samsung mobiles through third-party wallets.

This new feature will allow users the benefit of handling their cryptocurrency from one convenient location. In addition, Samsung, in order to keep the users updated with trending news on cryptocurrency, has designed a newsfeed that will highlight updates, articles, and news regarding cryptocurrency from CoinDesk. CoinDesk is believed to be the best platform for getting news related to blockchains.

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The perks do not end here. Ledger Nano S and Ledger Nano X are the two essential hardware wallets to which smartphones can get easily connected.

In 2019, Samsung Blockchain wallet with the launching of Galaxy S10 has agreed to join hands with prominent cryptocurrencies: Ethereum, Tron (TRX), Bitcoin, and Ethereum, to mention a few. With the onset of this, Samsung users are hence provided the special allowance of accessing application services that are dependent on blockchain technology to safeguard the transaction of digital assets.

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However, it must be kept in mind that security plays a crucial role in the transaction of assets, especially when the assets are virtual. The company has taken proper care of its security and Samsung’s Knox Security platform safeguards the transaction by storing the encrypted private keys used for cryptocurrency and the apps dependent on blockchain technology (DApps) by keeping them separated from the primary operating system. The isolated area in which they are stored is known as the Samsung Blockchain Keystore.

Not only this, to allow double protection of assets, Samsung uses a secure processor. Thus, the information of a user’s private virtual asset can only be accessed after providing a PIN or fingerprint.

The features are very easy to use. One just has to set up a Hardware account by following simple steps. One can import an account as well by following minor steps. Samsung has designed the feature in a simple way making it accessible to everyone.

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