Topic: Samsung: Smartphones are the Most Secure Device When Using Cryptocurrency - page 6. (Read 1175 times)

smartphones, bitcoin and crypto world is a facility that will be used for transactions in the future, it will be more perfect and easier.

samsung is a smartphone that supports crypto growth, they created Samsung S10 with ASIC card, and I think Samsung will be a smartphone that can realize bitcoiner dreams.

I just prefer to use hardware wallet, because it is more secure than any wallets online,  like web wallets and wallet apps in smart phone. You have more control in hardware than those options.

Samsung is one of the best device in the world. The security of samsung smartphones is really secure so I think your cryptocoin or anything that you want to save using samsung will be safe but you need also other protector like antivirus or anything that can protect your devices.

There is no device smart enough to compensate for dumb people. Let me use this example : The hacker manage to install a Malware on the Android OS and it simply replace the Bitcoin Address that you use, with their own Bitcoin address. A lot of people seldom double check addresses when they use their wallet, so they end up sending coins to a hackers Bitcoin address and not to the intended recipient.  

What do you do if the Hacker gets your GPS location and rob you at your house?  

But smartphones can be easily accessed by other poeple, I mean physically.

People always carry their phones with them, so chances of their mobile being lost or stolen are more. Doesn't it risk their investment?

As far as I know, smartphones and tablets are more secure than desktops because the apps are more separated from each other and there's not much shared space. But it's possible to have similar security on desktops with virtualization tools, there's even a whole OS called Qubes that allows users to easily create isolated boxes, so you can put your work, finances and entertainment into different containers that can't infect each other.

But regardless, it's not a good idea to have your saving wallet on any kind of online device, those devices should only be used to access smaller daily spending wallets.

I'd have to say this is probably pretty true, but I only use the words 'pretty true' for a big reason. The reason is the given which I'm going to propose, which is that people are using reputable wallets, which don't have access to their keys, and they ensure to save their paper backup somewhere. Now that that's out of the way, I would come to the same conclusion as OP because their aren't as many targets of hacks / malware / crypto coin stealing operations on mobile as their are on PC. But I must say that something like this will change if enough people are holding a shit ton of money on their phones instead of wallets on their computers.

very interesting information about TEE, I never knew about what it is before.

but your chosen subject here is still wrong though. the "most secure" device for using cryptocurrencies will always remain cold storage when you device doesn't have any access to the internet and also it can't be lost because you carry it around

I still think security should be of the utmost concern to those using smartphones for cryptocurrency transactions, so users should download a reputable virus scanning app and be cautious about using the right security features with the phone. Where there's a will among hackers, they will eventually find a way to exploit the device.

The answer you're looking for is already in the statement you quoted. Maybe try reading it again. You can install certain wallets on pretty much any smartphone but it doesn't automatically mean it's secure. There's a lot more to information security than just the wallet app itself.

Well, smartphones generaly catch less viruses and malware than laptops and desktop computers. I store my own Bitcoin in my smartphone and I don't have any problems with it. The only problem could occur if you root your device and give root permission to apps downloaded from some shady sites. That's why I didn't root my phone and even if I do I will check the sites I download from.

Thats grate .   you take my point in this topic

Go to /r/trezor and ask the Trezor developers how they feel about the security of a TEE vs hardware wallet. Same with /r/ledgerwallet to be fair.

The most secure way to use bitcoin with a smartphone is to install the Mycelium app and use a hardware wallet with OTG cable. You really don't want your private keys on a phone TEE or not.

It's always the end users who can create extra precautions avoiding being hacked but the idea inside this topic is quite informative there's some good edge if you are well aware on how to take advantage and maximize features that you can find from smart phones which is not present from desktops and laptops we just need to utilize it and take it as an advantage.

Did you know (TEE) ? OR The Trusted Execution Environment  is a secure area of the main processor of a smart phone (or any connected device including tablets, set-top boxes and televisions). It guarantees code and data loaded inside to be protected with respect to confidentiality and integrity. The TEE as an isolated execution environment is providing security features such as isolated execution, integrity of Trusted Applications along with confidentiality of their assets. In general terms, the TEE offers an execution space that provides a higher level of security than a rich mobile operating system (mobile OS) and more functionality than a 'secure element' (SE)
Samsung competitor HTC is developing a smartphone that it is billing as the world’s “first native blockchain phone.”

In December 2016, a research team at the prestigious Cornell University led by professor Emin Gun Sirer first teased the idea of scaling bitcoin with secure hardware, using TEEs. The Cornell research team went further than using the native TEE environment in smartphones, and built a technology called Teechan on top of TEEs present in the CPUs and Software Guard Extensions of Intel. Since TEEs exist independent of whichever device it operates within, and it can process transactions off-chain that are then batched into larger transactions for on-chain settlement, scaling solutions based on these trusted environments have seen significant progress by processing more than 2,480 transactions per second.

Yeah I am seeing a lot of information and discussion about the credibility of smartphones when it comes to cryptocurrency but still no one can give some proof that smartphones and the most secured device when you are doing crypto. Those conclusions are just came from their personal experience.

There's so many factors that go into the security of a device. I can be on a laptop and be more secure than many people who use a smartphone. In general I do see the benefits of using a smartphone...however I'd go with an iOS device.

Safety is actually relative to how much you put in to your due diligence. May it be desktop, laptop, cellphone, online wallets, cold storage wallets, etc. Sure some of them are more secure than most. But it is still possible to steal information physically relatively easy with your smartphone.

To be completely fair, it didn't seem like he singled out Samsung lol. It just so happens that the writer of the piece was a Samsung contributor.

And I don't know about this. I feel like a proper PC set up would be safer just because it's more unlikely to get lost or stolen. They can be just as hard to break into with proper precautions.

But yeah, if we're talking about the most secure device for crypto, it has to be hardware wallets and air-gapped wallets. It has to be noted that you can easily set up an air-gapped wallet with a smartphone too lol.

Totally agree with it. Personally, I don't believe in Myetherwallet and other ETH online wallet. Smartphone wallet is far better than that weak Online Wallet. Samsung joined in the cryptocurrency platform, maybe a new revolution will make.