A few weeks back I had written about how Samsung was rumoured to launch crypto related features in its next flagship phone, the Galaxy S10. Well, today was the launch event, and it seems like Samsung has actually done it.

According to a report from CCN, Samsung has integrated a feature called "Samsung Knox" into the Galaxy S10, which uses defence grade hardware security to store private keys for blockchain applications.

Now, at this moment, the phone doesn't come with a native cryptocurrency wallet, which would be one of the blockchain applications that the feature would support. But earlier leaks and rumours have stated that Samsung could be launching at least Bitcoin and Ethereum native wallets in the future.

It seems though that developers will be able to use this feature to create hardware wallets of their own, essentially turning your Galaxy S10 into a cold storage option for you.

Why This Is Importnat

We all know that storing your cryptocurrencies in hardware wallets is much safer than storing them in your exchange wallets. The reason is simple. When you store them on hardware wallets, you own the private keys yourself which is not the case when you store them on exchanges.

So, you don't have to worry about exchanges running away with your funds or getting them hacked by hackers and losing your precious portfolio that you accumulated with blood, sweat and tears.

That is why products like Ledger's hardware wallets have become so popular in the recent times. It is always advisable to store your crypto in devices like these if you start accumulating an amount that you think is significant.

Samsung entering the crypto space is a huge news and it will definetly push other tech giants like Apple and Google to come up with solutions of their own. I'm surely looking forward to more developments and mainstreaming in the months and years to come.