Samsung is reportedly building a Bitcoin app that could also feature a cold wallet for cryptocurrencies.
The native app, rumoured to be called the “Samsung Bitcoin app”, could come preloaded on the Samsung Galaxy S10 flagship next year.
The app is also said to feature a dedicated crypto wallet to let users view all their account information and transaction history as well as transfer cryptocurrencies. On the security front, the app is reported to use PIN and fingerprint authentication options to secure its operations.
In new reports, it is claimed the cold wallet will let users store other cryptocurrencies as well as Bitcoin, along with public and private keys. Users will also be able to sign private keys for cryptocurrency transactions.
Sirin Labs YouTube ads
Last year, Coin Rivet reported that Sirin Labs was to begin shipping its $999 blockchain phone in December. Since then, we have seen a widespread marketing campaign that mainly uses models to talk about popular cryptocurrency ideals such as HODLing.
The Samsung Galaxy S10’s primary crypto competitor from Sirin Labs (called the Finney) also has a cold wallet feature built in. It also has a separate secure processor, and users will be able to interact with the wallet on a second screen (one of its unique selling points).
Third-party services support
The Samsung Bitcoin app also supports imports from existing wallets and third-party services such as Metamask and TrustWallet. Furthermore, there will initially be support for a number of cryptocurrencies and tokens such as Bitcoin and Ethereum (and ERC-20 tokens).
Samsung can’t access the data
The accounts created using the Samsung Bitcoin app will be stored on the blockchain network with complete anonymity. It is also said that Samsung won‘t be able to access the data stored on the app, and the standard 24-word phrase will be the only way to access the data.
Details around the wider availability of the Samsung Bitcoin app are yet to be revealed.