Mon, February 06, 2023

Samsung’s Blockchain Wallet and Crypto Exchange Gemini

Smartphone giant and crypto exchange

The world has become a global village thanks to modern technologies. Moreover, cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others became more popular around the globe. However, the crypto industry has the potential to play a bigger role in everyday life. Recently, South Korean tech giant Samsung made a step forward as Samsung’s Blockchain Wallet will add support for users of Gemini in the U.S. and Canada. Interestingly, Gemini is a U.S.-based Bitcoin and crypto exchange.

Importantly, Samsung’s crypto wallet allows self custody of Bitcoin and crypto directly on newer Samsung Galaxy models. Users of this wallet will be able to buy and sell Bitcoin as well as a small selection of other cryptocurrencies. Thanks to the Gemini exchange.

Moreover, they will be able to view Gemini account balances. Also, it will be possible to transfer their Bitcoin and crypto into a higher security cold storage account.

It is worth mentioning that, the tech giant started to experiment with the biggest cryptocurrency on the market some time ago. By adding support of the Gemini exchange, the South Korean giant made a step forward and this is important for the crypto industry in general.

Samsung and crypto industrySamsung’s Blockchain Wallet and new opportunities

The tech giant became an early leader in smartphone Bitcoin and cryptocurrency support after introducing the Blockchain Keystore. Samsung introduced the Blockchain Keystore in 2019. This move could help to boost the process of crypto adoption.

Many people from the cryptocurrency community see stalled user adoption as one of the major problems of this technology. Moreover, many potential users lack the required technology confidence to buy and store cryptocurrencies themselves.

It will be easier to convince the owners of smartphones produced by Samsung, as they have the opportunity to store crypto directly on their phones.

This partnership comes at a time when crypto exchanges see user registrations and trading volumes soar amid the coronavirus pandemic.



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