Topic: Samsung says that smartphones are the safest way to store cryptocurrencies - page 3. (Read 16978 times)
August 25, 2018, 05:34:35 AM
Yeah even I think now it is time to bring cryptocurrency to smart phones. Smart phones have been a must for everybody. a device is being used widely . Samsungs sees the future. I think this is a good move. for the smart industry and for the crypto world.
August 25, 2018, 05:31:33 AM
an interesting feature for smartphones! the phone is always in my pocket. it is very important that the wallet is not connected with Android system. this means that taking possession of the smartphone wallet hack will not work.
August 25, 2018, 05:10:46 AM
The idea is amazing and I think it will be more convenient and easy to use but the big question is ; how to restore your wallet in the event that the phone gets lost or spoilt. If there can be a means to restore it in such circumstances then no doubt it is the best way to store cryptocurrency.
August 25, 2018, 05:00:34 AM
How relevant is Samsung to make such claims? They also say their mobile phones are the best but to my opinion they are not, for quite some time now.
Still I think that mobile wallets could be rather safe for keeping coins.
In general everything depends how caucious you are, how to you keep your phone safe and secure, are you using mobile antimalware, do you have some tools to protect your phone in case of theft or when being lost. There are many factors that influence security of coins on your mobile.
Still I think that mobile wallets could be rather safe for keeping coins.
In general everything depends how caucious you are, how to you keep your phone safe and secure, are you using mobile antimalware, do you have some tools to protect your phone in case of theft or when being lost. There are many factors that influence security of coins on your mobile.
August 25, 2018, 04:51:27 AM
That’s good! It sounds considerable to buy samsung, i’m thinking eventually of buying one. But is it teally secure? I don’t know technicalities about phones that’s why i’m being cautious. Cryptocurrency is already a risk will mobile phones bring me to risks as well? Just thinking.....
You of course take some extra risk by bringing your phone everywhere you go. They can make it as secure as they want but if you lose your phone your crypto is gone.
August 23, 2018, 05:31:03 AM
It would be quite logical and anticipated that Samsung will be the first company to develop a smartphone with built in cryptocurrency storage wallet it would be nothing amazing.
August 23, 2018, 05:29:17 AM
They do have specified that smartphones are the best option to store your cryptocurrencies for short to medium term storage. Which I am inclining to agree on, remember if you are expecting to spend cryptocurrencies within that year the best wallet you will be using is of course mobile wallets as this is ideal for payments on the go, of course you don't expect to be holding cryptos worth millions to mobile wallet apps but keeping a few thousands won't hurt as it is safe depending on the level of your security from both the app and yourself to your phone.
I remembered the first time I downloaded my local wallet it asked me if I want to use my finger print as a way to unlock my wallet or a regular 6 digit pin or even both. I chose the 2 modes of security in order to protect my BTC more. It does not hurt by adding a little bit more protection to your cryptos on the go.
I remembered the first time I downloaded my local wallet it asked me if I want to use my finger print as a way to unlock my wallet or a regular 6 digit pin or even both. I chose the 2 modes of security in order to protect my BTC more. It does not hurt by adding a little bit more protection to your cryptos on the go.
August 23, 2018, 04:40:47 AM
I agree with this to an extent, however, the only area i see as a serious challenge is that the use do not have access to the private keys and this can only mean that you are not fully in control of your funds. Have we thought about what will happen in the case of hark into the company's database?
August 23, 2018, 05:15:05 AM
here I don't agree with Samsung, phones get stolen, phones get lost, crushes and often, they die.
August 23, 2018, 03:33:57 AM
As far as mobile phone have been able to make life easy by allowing people to carryout some difficult task easily without stress. I do not support the use of mobile phone as a means of storing cryptocurrency. Moblie phone can be stolen at any time.
August 23, 2018, 03:14:52 AM
Samsung is extremely smart when it comes to developing Blockchain technology and wants to use their phone to store wallets. Earlier this year, the company revealed that it was planning to enter the ASIC market through the production of electronic chips used to exploit codewords. This decision led to significant growth in Samsung's profitability in the first quarter of 2018.
August 23, 2018, 02:41:21 AM
Gradually smartphone is getting functions and abilities. Samsung has always believed in cryptocurrency and it is showing its commitment once again. It will really be cool to have my hard wallet on my phone as I move around.
Lots of smartphones have a Trusted Execution Environment (TEE). So, hackers have no ability to get into and steal data. But experts say that saving large amount is not a good idea in any case. August 23, 2018, 02:23:26 AM
Gradually smartphone is getting functions and abilities. Samsung has always believed in cryptocurrency and it is showing its commitment once again. It will really be cool to have my hard wallet on my phone as I move around.
August 22, 2018, 05:50:42 PM
cryptocurrency wallets based on mobile phones are the safest option for the short and medium term storage of cryptocurrencies.
I'm glad that someone, and take note of its big name in the industry, also agreed that mobile wallets can be considered as the safest way of storing crypto because that's what I've been thinking of all the way. Yeah! Some of you might disagree and still go in the favor of cold storage (it does) but when it comes to storing only few coins then not bad to use mobile wallets since they are more practical and convenient. To save long-term cryptocurrencies, Samsung recommends creating multiple backups of the private key associated with the wallets.
The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.
Though my private key is not in my hands. I know either why Coins.ph, the wallet I'm using, don't allow its users to have access on their own private keys. After a couple minutes of research, here's what I found: https://support.coins.ph/hc/en-us/articles/360000071761-Can-I-have-access-to-my-private-keys- . Nevertheless, I don't worry about the security of my coins at all because I'm confident of my wallet's credibility and trustworthiness.
Ps: But still, much better if you hold your own private key.
The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.
Though my private key is not in my hands. I know either why Coins.ph, the wallet I'm using, don't allow its users to have access on their own private keys. After a couple minutes of research, here's what I found: https://support.coins.ph/hc/en-us/articles/360000071761-Can-I-have-access-to-my-private-keys- . Nevertheless, I don't worry about the security of my coins at all because I'm confident of my wallet's credibility and trustworthiness.
Ps: But still, much better if you hold your own private key.
August 22, 2018, 04:50:54 PM
It's actually true that using smartphones are more of a secure and easier way to use the cryptocurrency and blockchain system. It displays an easier view in comparison to the other electronic devices, and also the smartphone based wallets are more secure than ever. That way, if people get used to using cryptocurrency over smartphones the rate of the growth of the community increases even more, because mostly people prefer using smartphones over anything being the easiest and the most convenient way possible.
August 20, 2018, 05:47:43 AM
it will be nice if mobile phones will give us security on using cryptocurrency
August 22, 2018, 09:24:55 AM
That’s good! It sounds considerable to buy samsung, i’m thinking eventually of buying one. But is it teally secure? I don’t know technicalities about phones that’s why i’m being cautious. Cryptocurrency is already a risk will mobile phones bring me to risks as well? Just thinking.....
August 22, 2018, 09:13:59 AM
And they can be hacked if it's online ! Keep everything on external devices and there will be no problem !
August 20, 2018, 02:32:32 PM
I am expecting seriously that Samsung in the next year will develop a smartphone which would be having a built-in cryptocurrency storage or something like that, it is logical for me that somebody need to start that.
August 20, 2018, 05:52:10 AM
Samsung Electronics, a giant of the Smartphone manufacturing industry, recently commented through its official blog that cryptocurrency wallets based on mobile phones are the safest option for the short and medium term storage of cryptocurrencies.
The post explains that smartphone-based cryptocurrency wallets are a very safe place to store digital money, at least the equivalent of the amount we could store in our physical wallet. To save long-term cryptocurrencies, Samsung recommends creating multiple backups of the private key associated with the wallets.
The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.
The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).
The TEE runs its own execution independently, which means that the RAM and storage of the phone are separated from the main operating system of smartphones.
Because of this, the Android operating system can not directly access the TEE, even if the operating system is hacked. In this sense, you can only access the TEE through an application programming interface (API).
Did you like this article? Don’t forget to follow @Braziocoin on instagram to stay up to date with all the news of the cryptoworld.
Want to BUY BRAZIO COIN? Check out Braz.io for more info.
The post explains that smartphone-based cryptocurrency wallets are a very safe place to store digital money, at least the equivalent of the amount we could store in our physical wallet. To save long-term cryptocurrencies, Samsung recommends creating multiple backups of the private key associated with the wallets.
The Smartphones producer commented that private keys should be stored offline to maximize their security, which means that they should not reside on a mobile phone or any device that connects to the internet regularly.
The blog post comments that mobile phone cryptocurrency wallets are the best place to store "spendable" money due to the phone feature called Trusted Execution Environment (TEE).
The TEE runs its own execution independently, which means that the RAM and storage of the phone are separated from the main operating system of smartphones.
Because of this, the Android operating system can not directly access the TEE, even if the operating system is hacked. In this sense, you can only access the TEE through an application programming interface (API).
Did you like this article? Don’t forget to follow @Braziocoin on instagram to stay up to date with all the news of the cryptoworld.
Want to BUY BRAZIO COIN? Check out Braz.io for more info.
Its great to know that we can store our cryptocurrencies on our smartphones, but is it really safe? Like, how and what will happen if our smartphones lost. Can we restore our lost data of crypto in our new phones. Or if its stolen are we sure that it will not be hacked. Questions like that follows on our mind if we hear topics like this.
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