Can mobile cryptocurrency wallet from Samsung Galaxy S10 help the crypto market?
In the last couple of weeks, the whole cryptocurrency environment was thrilled by leaked information about the possibility that the newest Samsung flagship mobile might have built in a dedicated cryptocurrency wallet.
In the past, we have already discussed the different types of wallets. But why this information might prove to be very important for the general crypto community?
First of all, most of the currently available cryptocurrency wallets are connected indirectly with the blockchain network by a set of servers. This holds a risk that the server might get hacked, what means you can lose access to your cryptocurrency – this is the risk shared by many hot wallets.
Secondly, many of the most common wallets used so far have a very limited scope of application (including Opera browser, which accepts so far only ETH tokens).
This is why Samsung with its Galaxy S10 can have a huge impact on cryptocurrencies as such. Although it is not the very first dedicated crypto wallet on a smartphone (HTC Exodus 1 released in 2018 was first one), the pure fact that Samsung, a real tech giant which had already proven to be a trendsetter decided to introduce such functionality can become a real gamechanger.
There are several reasons why it can be so. The first is the scale of production of Galaxy smartphones. The previous model of S series was produced in more than 31 millions of copies, with most of the users being up to date with the newest technologies as well as being among most wealthy and influentive mobile users.
The solutions as offered by Samsung with its flagship smartphones are usually followed by its competitors in their own new models. Therefore cryptocurrency wallet built in smartphones by this Korean enterprise will become standard functionality in hundreds of millions of devices produced by the competitors of that company.
Another important element why the wallet being preinstalled with Galaxy S10 can become popular is that it is a cold wallet with built-in advanced safety solutions (including pin code, fingerprints confirmation).
The cryptocurrency potential offered by Samsung smartphone is further increased by the gradual introduction of decentralized apps, allowing their users to earn cryptocurrencies by taking some specified actions. So far the main confirmed software from this category is named Cosmee, where its users can earn Cosmo tokens in exchange for writing beauty reviews.
Next thing important for cryptocurrency enthusiasts being owners of Samsung Galaxy S10 is the fact, that the device itself is supposed to support contactless payments using cryptocurrency. So far the confirmed crypto for such transactions is a coin popular among Korean gaming community – Enjin coin.
To sum up, the functionality introduced by Samsung with its flagship smartphone Galaxy S10 has the potential to be a gamechanger. Its cryptocurrency related features can definitely contribute to wider adoption of using cryptos as the form of payment (what was declared a number of times as one o the main drawbacks of cryptocurrencies) what we had been looking forward for almost a decade by now. As well, the fact that S10 is a flagship smartphone, this means it can be a trendsetter for the whole industry and the very end of crypto nuclear winter.