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Would You Use Built-In Wallet On Your Phone? by firepower

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· @firepower · (edited)
$14.82
Would You Use Built-In Wallet On Your Phone?
Samsung's S10 is going to start making things a little easier for crypto fans as it will make it possible for anyone who wants to store cryptocurrencies securely, receive and transfer them from their phone using Samsung's 'Blockchain KeyStore.' However, it brings a few challenges as well.

Such as having a cryptocurrency on a phone with an OS that tracks pretty much everything means that our identity and holdings are fairly known to corporates or even government for that matter if we choose to hold it on our phone. 

<center>![galaxy_10_blockchain.jpg](https://cdn.steemitimages.com/DQmeBC9koHX1CMoV7P5fZ2tCmuJb5SbRNL67hJrhcfK2AaH/galaxy_10_blockchain.jpg)</center>
<center><sup>[Source](https://9to5google.com/2019/01/23/galaxy-s10-leak-cryptocurrency-wallet/)</sup></center>

Cryptocurrencies gives us a chance to bypass tracking of our personal information unlike other payment mechanisms. 

But the fact is that most users prefer convenience over something complicated. For example, if you are using a phone to make cryptocurrency payments then it's far more easier than carrying a Ledger Nano with us everytime. 

Mainstream audience need convenience and ease of use.  Also personally speaking if the wallet that Samsung offers is secure and supports cryptocurrencies that I'm likely to use it or atleast try it. I think it would be good to load it up with small amounts for regular transactions and keep bulk of my holdings away from this.

It could potentially be more secure than other standard cryptocurrency wallet one can download these days.

All said and done, if we want cryptocurrencies to go mainstream then we have no choice but to adopt these changes in technology and innovation. Phone companies are bound to introduce wallets in most phones across varying budgets if they see it as a game changer. 

If companies such as Samsung start marketing these features it will certainly help introduce the concept of cryptocurrencies to millions of users across the world far quickly than anything else has so far. 

Interesting times to be living in eh? 



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vote details (188)
@bala41288 ·
Having the crypto assets stored only in mobile device is not a great thing for me. Same with hardware wallets as well. I know it is secure but I will still not prefer using them. But in a way it is a great idea because there will be lots of new crypto adopters.

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@cloudspyder · (edited)
$0.08
No because, I am not so sure how it configures and how safe my private key is. Source code is not available to the public after all. I won't trust.
👍  
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vote details (1)
@firepower · (edited)
That's a good point! Something to think about.
👍  
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vote details (1)
@cryptictruth ·
Anything to make crypto more adoptable. 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@dickturpin ·
Given people now use their phones for paying for things (Samsung Pay, Google Pay etc.) and they have their bank accounts accessible on their mobiles too, I see no reason why anyone wouldn't use a Crypto Wallet on there. Crypto isn't anything special and so if you're willing to trust your <a href="https://en.wikipedia.org/wiki/Fiat_money">Fiat</a>  on your phone then there's no reason not to trust this service.
<hr>

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</div>
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@foxkoit ·
No... I not run to use it... I need time to see what others say ... And last thing I don't trust this company same Appel I not trust.
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@gargi ·
i would not like to try, but after reviews i will definitely going to try it .....

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@lifecruiser ·
I would not go for it. It is not about the brand or technology. It is more about ourselves, our usage/behaviour. If the mobile is lost or stolen then we are at bigger risk. There are many other things like the mobile get reset, memory wiped out when you give for repair in service center, accidental fall, snooping apps etc etc.

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@maxdevalue ·
@firepower, I like your work.

>I think it would be good to load it up with small amounts for regular transactions and keep bulk of my holdings away from this.

That’s a nice suggestion from you.

I’ll also like to try such mobile wallet features. It’s a great innovation and I consider it crypto friendly.

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@niallon11 ·
Most people won't have large quantities to move around. If we gain mass adoption the bulk of people might be holding a few hundred dollars on their phone at any time. It's different for the early adopters who will have larger amounts but the average user will just want easy access which suits all of us as it will drive up demand.
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@onealfa · (edited)
$0.16
Ledger NANO and mobile wallet on smartphone serves a totally different purpoces. Use NANO for you life savings ( if you cant find anything more suitable) which you do not touch more than 1-2 times in a year, and mobile wallet for a daily use, which never holds more value than the phone itself , $200- $500. Smart money requires smart owners.
👍  , ,
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vote details (3)
@sumit71428 ·
For sure no in starting i was happy to hear that but now i don't feel like storing rather i will use cold storage wallet if i am holding it for long and for daily trading happy to keep it at the exchange account.

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@thekittygirl ·
$0.05
<div class="text-justify">I think I would trust a wallet from a reputable company like Samsung over a wallet from a dev I've never heard about. There are plenty of mobile-wallet options already available&nbsp;— Abra, Crypto.com, and others&nbsp;— but who are these people behind the apps and can they be trusted? At least Samsung has a good reputation and a vested interest in security to ensure repeat-customers.</div>
👍  
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vote details (1)
@onealfa ·
$0.16
Trust other  people is a bad habit. Dangerous. Trust nobody !
Or at least - trust only open source, mathematics, algorithm, yourself, your own knowledge. These are not corupt. 
Trust in other people always have bad end. Always.
👍  ,
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vote details (2)