Confirmed: Bitcoin (BTC) and Ethereum (ETH) Support Coming to Next Generation of Samsung Smartphones

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The world’s largest smartphone vendor, electronics giant Samsung, has confirmed that support for cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), is coming to its new line of smartphones.

On its web portal describing the features of the Galaxy S20, Samsung says new generation will include the company’s proprietary app that allows users to store private keys for BTC, ETH and Ethereum-based ERC20 tokens.

“We created a secure processor dedicated to protecting your PIN, password, pattern and Blockchain Private Key. Combined with the Knox platform, security is infused into every part of your phone, from hardware to software. So private data stays private.”

Samsung first released Blockchain Keystore in early 2019, effectively turning a Samsung smartphone into a cryptocurrency hardware wallet.

Samsung has also rolled out a software development kit (SDK) allowing engineers to create apps that can connect to Keystore and sign transactions.

In the third quarter of 2019, Samsung sold 78.2 million smartphones worldwide, according to data compiled by Statista. The South Korean consumer electronics giant is the world’s largest smartphone brand with 23.1% of the global market. Apple and Huawei rank second and third.

The crypto app is currently available to Samsung users in the US, Canada, South Korea, UK, Germany, Switzerland, Spain, Portugal, Sweden, Austria, Finland, Denmark, Norway and Iceland.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Monkey Business Images

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