Samsung Knox was officially revealed by Samsung as the built-in cryptocurrency wallet in their latest flagship device, Samsung Galaxy S10. It was speculated for months that Samsung’s latest smartphone will feature a cryptocurrency wallet. However, it was confirmed today at Galaxy Unpacked as Samsung Galaxy S10 launched.
Samsung introducing a cryptocurrency wallet (Samsung Knox) on their smartphone is a huge step forward. This is likely to infuse confidence in the entire cryptocurrency industry (especially in the Bitcoin market which is extremely quick to react to this sort of news). This is particularly of note at a time when Bitcoin price is going through a bull run!
Samsung Knox: All That You Need to Know
Samsung Galaxy S10’s Knox basically functions as a regular hardware wallet. However, in this case, it is built-in inside a smartphone. We got glimpses of it when leaked screenshots of the wallet emerged on social media last month. Based on these screenshots, we know that Samsung Knox will allow storage of Ethereum (ETH) during the initial phase.
New #GalaxyS10 live images leak with ‘Samsung Blockchain KeyStore’
— Ben Geskin (@BenGeskin) January 23, 2019
However, more cryptocurrencies are expected to be added to the wallet in the days to follow. We can expect Bitcoin (BTC), Litecoin (LTC) and few other major cryptocurrencies to support the Galaxy S10’s wallet. Samsung’s official press release for Samsung Galaxy S10 introduces this wallet as:
“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
Samsung Knox: A Major Step Forward for Crypto and Bitcoin?
Cryptocurrencies (or more particularly, Bitcoin) are often looked upon with suspicion by a number of people. However, a brand like Samsung backing cryptos and Bitcoin in their biggest launch of the year, the Galaxy S10, is bound to bring in confidence in the markets. In addition to Samsung, names such as HTC have also introduced similar features in some of their phones.
We saw the HTC Exodus 1 feature a crypto-wallet last year. This is indeed a major step forward towards mainstream adoption of cryptocurrencies!