Rumors of Samsung Bitcoin App For a Crypto Wallet: Truth Or False


Recent rumors have been circulating the air of Samsung supposedly offering a cryptocurrency cold wallet on its Galaxy S10 smartphone, thanks to a recent article written by Sammobile.

The Wallet

According to the article, Samsung’s cryptocurrency would supposedly have two parts going for it. A cold wallets for saving cryptocurrency, public and private keys along with signing private keys for cryptocurrency transaction and crypto wallet for transfers, viewing account information and transaction history.

The article further states,

“Samsung’s cold wallet app will enable users to import their existing wallets from third-party services like Metamask or TrustWallet. They will also be able to create a new one in the app itself. The cryptocurrencies and tokens supported initially may include Bitcoin, Ethereum, Ethereum-derived token ERC20 and Bitcoin Cash.

Accounts created using the app are stored on the blockchain network with complete anonymity. Samsung won’t have access to the data. The only way for users to access it would be through the recovery phrase. The 12-24 word phrase is a standard recovery method for all wallet services. Therefore, the user is responsible for storing this phrase safely because their cryptocurrency account cannot be restored without it.”

Rumors?

While it may seem legit, Cointelgraph seemed to have done their own investigation and discovered that these rumors of Samsung’s Galaxy S10 smartphone offering a cold wallet were false.

“Samsung has refuted rumors that it has plans to offer a cryptocurrency cold wallet on its Galaxy S10 smartphone, in comments to Cointelegraph Dec. 11”

While the Korean-based tech conglomerate did file three E.U. trademarks for blockchains and cryptocurrency. these trademark request seem to be a part of the alleged plans to offer cryptocurrency cold wallet for the upcoming smartphone. However, Cointelgraph seems to have received a private correspondences stating,

“Unfortunately we are unable to provide any information as the below is rumour and speculation.”

Our Thoughts

While It may seem that Cointelgraph has manage to shut down these rumors for the time being, and Sammobile may have jumped the gun on their speculation, a cold wallet for cryptocurrency may still seem possible. With crpyocurrency growing in power and prominence each day, its only a matter a time before on these giant smartphone companies decide to pull it off themselves. And even with the correspondence Cointelgraph received, it doesn’t completely invalidate a possible chance of Samsung developing such an app in the future.

What are your thoughts on these rumors? Do you think there might be a chance of it being true?

Let us know your thoughts.


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at keith@cryptomenow.com

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