Cryptocurrency is becoming bigger than ever before and the last few months, in particular, have seen more and more people enter the crypto market, whether to invest or to use tokens as a form of day-to-day payment. In response to this, more products and services are being created to accommodate the rise in crypto users, and the industry as a whole stands to benefit.
One of the latest of these developments comes from Samsung which announced that its Galaxy devices will now support third-party wallets that are used to store and manage cryptocurrency.
Samsung Stores Assets
As per the press release, Samsung Galaxy smartphones will now be able to transfer and store assets on crypto cold wallets onto the Samsung blockchain wallet which is available on the devices. There is also the Samsung blockchain key store and a new connection that can be made to hardware wallets such as the Ledger Nano S and the Ledger Nano X.
Some of the digital assets that can be stored on the Samsung blockchain wallet include Bitcoin, Ethereum, Tron, and ERC tokens.
This move on Samsung‘s part is very beneficial in that crypto holders can easily access and store their tokens from the comfort of their phones while also receiving information via a helpful app. Samsung has made moves in the past to support the crypto industry such as adding the official bitcoin emoji to its keyboard and also creating its official in-built crypto wallet.
Now, users of wallets like the Ledger Nano S and the Ledger Nano X do not have to choose between making use of their traditional crypto wallets or their Samsung devices but instead, can integrate the two.
We can expect more smartphone manufacturers to follow suit to keep up with the competition and this only means more options for crypto users around the world. It also means more opportunities for crypto-related firms like Ledger to partner with more mainstream institutions for the benefit of the industry.