World-famous multinational conglomerate Samsung is the biggest business group in South Korea. Moreover, it also continues to sell more smartphones than any other company in the world. However, the list of accomplishments is quite impressive. Moreover, the tech giant became an early leader in smartphone Bitcoin and cryptocurrency support. Notably, Samsung introduced the Blockchain Keystore in 2019. Importantly, this move could help to boost the process of crypto adoption.
Unfortunately, stalled user adoption as one of the major problems of this technology. Another problem is a lack of confidence as many potential users lack the required technology confidence to buy and store cryptocurrencies themselves.
Moreover, it will be easier to convince the owners of smartphones as they will have the ability to store crypto directly on their phones.
Samsung and U.S.-based crypto exchange
Samsung’s Blockchain Wallet will add support for users of Gemini in the U.S. and Canada. As a reminder, Gemini is a U.S.-based Bitcoin and crypto exchange.
Interestingly Samsung’s crypto wallet allows self custody of Bitcoin and crypto directly on newer Samsung Galaxy models. Moreover, thanks to Gemini, users will be able to buy and sell Bitcoin and a small selection of other cryptocurrencies.
Furthermore, the user will be able to view Gemini account balances. Moreover, it will be possible to transfer their Bitcoin and crypto into a higher security cold storage account.
People should not forget that partnership between South Korean conglomerate and crypto exchange Gemini is important for another reason as well. This collaboration comes at a time when crypto exchanges see user registrations, as well as trading volumes, soar amid the coronavirus pandemic.
Moreover, Samsung started to experiment with Bitcoin some time ago. Thus, by adding support to the Gemini exchange, the South Korean giant made a step forward and other companies should also pay more attention to cryptocurrencies.