- Samsung adds third-party wallet support to its Blockchain Wallet.
- Samsung’s wallet can now connect to hardware wallets like Ledger Nano S and Nano X.
- All of your assets are protected with the company’s Knox security platform.
Samsung Electronics has announced that owners of their Galaxy devices can now manage and trade their crypto assets from third-party wallets on smartphones. Samsung Electronics was among the first smartphone manufacturers to introduce support for cryptocurrencies and tokens to their devices.
The update is aimed at granting more access to users for blockchain transactions. This will be accomplished by importing digital assets stored on wallets to the Samsung Blockchain Wallet. Galaxy smartphones will also be able to now connect hardware wallets including the Ledger Nano S and Ledger Nano X.
Samsung Blockchain Wallet Requirements:
Galaxy Smartphone devices running Android OS 9.0 or above will be supported, however, availability may vary by model and condition.
Users of Galaxy smartphones that do not feature the Samsung Blockchain Keystore will still be able to utilize this latest update by physically connecting to the hardware wallet to manage blockchain assets or keys.
Support for third-party hardware wallets varies by market. Bluetooth features of Nano X may be limited when connected to Samsung Blockchain Wallet.
Safeguards Use By the company:
- The private keys used for cryptocurrency and DApps are encrypted and stored in an area isolated from the main operating system called the Samsung Blockchain Keystore.
- The information is further protected by a secure processor and can only be accessed by providing the asset owner’s PIN or fingerprint.
It also allows Galaxy users to explore Decentralised Apps or DApps that use blockchain technology to authenticate the exchange of digital assets.
The Keystore can be found under Settings – Biometrics and Security. Once you set it up, you’ll be invited to create a new crypto wallet or link an existing one. The Samsung Blockchain Wallet supports a number of cryptocurrencies including bitcoin (BTC), ethereum (ETH), ERC tokens, Tron (TRX), and TRC tokens.
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