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Samsung Unveils S20 Series With Built-In Crypto Integration

The South Korea-based tech and smartphone giant that is Samsung doesn’t need much introduction. The company makes up for almost 20% of the world’s global sales in smartphones and is known for its galaxy series.

S20 Crypto Integration

However, it seems that Samsung has an ace up its sleeve. As it stands now, the company could very soon become a massive driver in the global crypto adoption, due to its new S20 models holding built-in crypto wallets. This comes mostly in a time of even greater things to worry about in the greater crypto industry. The Bitcoin halving is due to happen soon, and the US is poising to crack down on its crypto industry. General crypto volumes are down, while Russia plans on its own crypto crackdown. All in all, news like this can quietly slip through the cracks, but it holds great potential.

The new Samsung smartphone range, with the flagship products being the S20, the S20+, and the S20 Ultra, holds a significant amount of potential for the crypto industry. These phones, while 5G capable, have also built on the S10’s crypto and blockchain support. Last year, the S10 boasted built-in support for crypto, and the S20 is only building on that premise.

Adding Security Features For Crypto Keys

Samsung, through the public announcement of the S20 phone range, explained that they had added specialized resources towards the Bitcoin wallets aspect of its phone range. The S20s now boasts a secure processor solely dedicated to the protection of the password, pattern, PIN, and Blockchain Private Key. Samsung explained that combining these features with the Knox platform built into the phone ensures a level of high security across all avenues on your personal smart device. In short, your private data will remain just that: Private.

Another key feature, introduced last year, is the Blockchain Keystore, one of the Samsung apps included as the default. At its inception, this was only capable of supporting Ethereum tokens, as well as others within the ERC-20 format. However, Samsung added Bitcoin to this Keystore back in August of last year.

Carelessness Spells Doom

Security of one’s private keys, something that the Blockchain Keystore readily does, is something that’s very easily overlooked. The problem is that its critical importance cannot be stressed enough. A simple look in history shows that most of the hacks that have occurred within the cryptocurrency exchanges of today come primarily from carelessness. In particular, the exchange had usually failed to protect the private keys of its various cold wallets.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.