Samsung Adds Crypto Trading on Flagship Phones with Gemini Support

Samsung, a leading South Korean electronics manufacturer, has partnered with Gemini, a US-based crypto exchange, to facilitate digital currency trading on its wallet app.

Announced on Tuesday, the crypto trading feature will be rolled out only for the Samsung Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term Wallet users in the United States and Canada.

"Crypto is not just a technology, it is a movement. We are proud to be working with Samsung to bring crypto's promise of greater choice, independence, and opportunity to more individuals around the world," Tyler Winklevoss, CEO of Gemini, said. "Now, Samsung Blockchain Wallet customers can buy crypto in a simple, elegant, and secure way on Gemini."

This is the first partnership of Samsung with any US-based crypto exchange.

The integration of the crypto exchange with Samsung's crypto wallet will allow the users to directly buy and sell digital currency on Gemini mobile app.

The integration will also allow Samsung Blockchain Wallet users to directly transfer their digital currency holdings into Gemini's custody platform.

Notably, the wallet is available only in Samsung's flagship smartphone models - Galaxy S20 Series, Galaxy Z Flip, Galaxy Note 10 Series, Galaxy Fold, and Galaxy S10 series.

Closing the gap between mainstream tech users and crypto

Samsung dived into supporting blockchain last year with the addition of a crypto wallet for its top-end devices.

Since then, it has extended its support for Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and also added decentralized application (DApp) support for its phones.

Media reports also revealed that the electronics maker is working to bring the same digital currency support for its budget Galaxy phones.

Earlier this month, Samsung also added the support for Swipe, an issuer of crypto debit cards, on Samsung Pay, the contactless payment system on its devices.