Bitcoin

Buying Crypto through Android Applications is Here to Revolutionize the Bitcoin Acceptance

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The Crypto sphere is at a boom when every now and then newer innovations are just taking it to a next of growth. For instance, Opera, a company that offers ‘browsers and AI-driven content solutions’ to approximately 320 million users on an international level; on 6th Feb in a press release, announced about its latest move of integrating with Safello. This announcement was made on 13 December last year, soon after the company announced about the first browser which was ready for the blockchain technology. In the press release, Opera announced about its latest move of integrating with Safello-

“Today, Opera announced that the first Web 3-ready browser, Opera for Android, will now let people easily buy cryptocurrencies on their mobile phones. The Opera browser for Android now features an integration with Safello’s brokerage for a safe and easy crypto wallet top up.”

On the other hand the Product Lead for Crypto of Opera- Charles Hamel

“We think that the next important phase for crypto will come from usage and that for it to reach wider adoption, it has to be easy to buy and easy to use. We believe that the browser will be the entry point for these use cases.”

With such smooth integration, users are bound to indulge more and more into blockchain technology. The company made the move in less than a period of three months since it shared its aims to explore blockchain technology.

On this, the CEO of Safello said that this integration of Opera mobile browser, it will benefit both kinds of users i.e.- the experienced ones and new ones, for transacting cryptos. It will be the “most secure and fastest way possible. The functionality to purchase crypto is right at their fingertips.”

Samsung may become a strong competitor-

The Android sphere is not ruled by Opera only when it comes to integration with the blockchain technology. Samsung too is in the race. Back in December last year, Samsung, the giant in the electronic market put in its application for trademarks request for its smartphones in the EU. According to the Dutch tech news blog- ‘Galaxy Club’, Samsung has requested for three trademarks to be patented, namely-

  • ‘Blockchain Key Store’,
  • ‘Blockchain Key Box’ and
  • ‘Blockchain Core.

These three patented trademarks seek to offer crypto custody services on smartphones. Some are speculating that Samsung is following the path laid by HTC and Sirin Labs, as they have lately launched ‘Exodus 1’ and ‘FINNEY’ respectively to offer crypto custody services on their respective smartphones. The lure of the cryptocurrency has not faded despite the crazy volatility of the digital currency has seen in this year since its all-time high in December 2017. The fact that the market giants like Samsung, HTC, and likewise others are investing in the crypto landscape shows their hopes from the Blockchain technology and the potential the cryptocurrency offers despite the drastic lows.

As per the reports from CryptoNewsZ, in July insights were published by Samsung with regards to crypto and its smarts phones. Joel Snyder, a senior IT Consultant in Samsung; expressed in the paper that smartphones provide a way tighter security in comparison to the laptops when it comes to crypto storage. The reason as per the paper- ‘Samsung Insight’ was the presence of ‘Trusted Execution Environment’ (TEE.) TEE insulates the execution from the internal memory, which makes it very difficult for hackers to commit any data theft. Therefore, assets like crypto wallet private keys can stay much safer in smartphones. Based on the ‘Trusted Execution Environment’, the cold wallet will prove to be safer for functions like storing Bitcoins and other altcoins such as Ethereum ETH, Ripple XRP, Litecoin and so on. The cold wallet will be kept off the internet majority of the time to enhance its security in comparison to the hot wallet.

On Jan 24th, CryptoNewsZ covered the story of Samsung Galaxy S10 photos getting leaked. As per the leaked photos, the latest model from the Samsung family is geared up with Blockchain KeyStore to store all your crypto assets and cryptocurrencies. As per the details obtained from the gsmarena website, the welcome screen displayed in the photos is shown with the welcome phrase-

“[…] a secure and a convenient place for your cryptocurrency. […] Import an existing wallet. Or Create a new wallet.”

Another detail obtained from the leaked images is that the app supports (possibly) support only Ethereum (ETH) cryptocurrency. As per the website, the latest price of the top tier model of Samsung Galaxy S10+ is 1,600 GBP, for 12 GB and an additional 1 TB expandable storage space. The top model comes with a ‘dual front-facing camera.’ The base Lite smartphone starts with the price of 780 GBP. Whereas, the medium-sized smart from the same family will cost 930 GBP which comes with 6 GB and an additional expandable 128 GB space. There are reports of the Samsung Galaxy S10 smartphone to support ‘reverse wireless charging.’

In the world where crypto thefts, crypto laundering, hacking are growing more and more (such as QuadrigaCX fiasco, last year’s infamous Japanese hacking incidence and so on), seeing such strong innovations is a source of relief.

It has also been seen that various crypto platforms are gearing up to tighten up their securities to gain back investors’ trust. As per the reports from CCN, the CEO of Pantera Capital, Dan Morehead said-

“Now we have firms like ICE’s Bakkt, Fidelity, or ErisX doing varying institutional custody and over the months, I think that will help bring institutions in. The one thing that is true though is institutions are like the rest of us. They’re pretty pro-cyclical and the big wave of institutional money will probably not start until the prices themselves start going up.”

Therefore, hopefully, the large customer base of Samsung and Opera (10 million and 182 million active user base respectively) will fetch many users and will up their trust in the brands. This might not happen overnight, but there is a definitive promise.

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