Samsung Electronics announced that blockchain users can now manage and trade a virtual asset from the third-party wallet on Samsung Galaxy smartphones. This update will let users easily access & process transactions by importing assets from their cold hardware wallets to Samsung Blockchain Wallet.
The company said Galaxy device now connects to hardware wallets, including Ledger Nano S and X. An update came amid rising interest in cryptocurrencies. Samsung is also providing a newsfeed feature through which users can keep up with the latest trends in cryptocurrency.
Galaxy S10 launched in 2019; its wallet already supports Bitcoin, Ethereum, TRX, Tron’s ERC-20, and other cryptocurrencies. Users can exchange and manage all their crypto assets and Dapp in their blockchain wallet. Cryptocurrency and DApps use encrypted private keys. Samsung Blockchain Keystore, an isolated area from the main OS, stores this private key. Secure Processor protects this information and only asset owner can access it by providing their PIN and fingerprint.
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Woong Ah Yoon, Samsung VP and head of a blockchain, revealed that the latest development brings about added security levels.
“By providing support for hardware wallets, we are providing our customers with not just enhanced convenience, but also an entirely new level of security. We will begin with providing support for ledger products including Nano X2 and S. Then we plan to expand our support to more cold storage wallets.”
