Samsung Bitcoin App In Works With Cold Wallet To Save Cryptocurrencies

Samsung is reportedly working to a Bitcoin app that could come with a cold wallet to import cryptocurrencies. The uniquely designed Bitcoin app, rumored as the “Samsung Bitcoin App,” could come preloaded with the Samsung Galaxy S10 flagship next year. The app is also said to have a dedicated cryptocurrency wallet to allow users to view all their account information as well as transaction history. For the security purposes, the app is reported to use PIN and fingerprint as an options to secure its operations.

Samsung’s cryptocurrency solution, unlike many other Bitcoin apps, will have two major parts, SamMobile reports.

One part of the app, will be the Cold Wallet to let users save their Bitcoin and other digital currencies.

And its second part, is said to be available as a crypto wallet for enabling transfers as well as monitoring of account information and transaction history.

Since security is on priority for cryptocurrency apps, the accounts created on Samsung Bitcoin App are said to be stored on blockchain network with complete anonymity. What is also said is that even Samsung can’t access the data stored through its app.

The Bitcoin App is also said to have a unique PIN and fingerprint scanner as part of the options to authenticate access. This confirms the previous reports which highlighted the deficiency of the iris scanner on the Galaxy S10. Some rumors even recommended that the new flagship model will come with an in-display fingerprint sensor option.

The particular details around the availability of the Samsung Bitcoin app are awaited to be revealed. However, the app is likely to come pre-installed on the upcoming Samsung Galaxy S10 flagship next year. Earlier this year, the South Korean giant kicked off the production of its special ASIC chips which will help the mining of cryptocurrencies like Bitcoin and Ethereum. The company is also reported to have ties with some Chinese bitcoin hardware makers to commence the mass production of its new chips.

(You may also read: Is Samsung Looking To Create Their Own Blockchain Powered Smartphone?)

Kapil Gauhar

Kapil Gauhar is the founder of Blogger’s Gyan. He is a Passionate Blogger, a Big Thinker and a Creative Writer. His passion for doing friendship with words and letting people know about the wonders of the Digital World is what motivates him to take writing as a career.