The biggest online Samsung community named SamMobile is in the focus of this post on our DC Forecasts crypto news site – after spilling out rumours that the electronics giant is planning to integrate a cold wallet system into its upcoming Galaxy 10 phone.
As the senior executive editor at SamMobile wrote:
“After hearing about the trademarks for Samsung’s blockchain and cryptocurrency software, we decided to dig around a little deeper. We can confirm that the company is indeed developing one and that it may be launched with the Galaxy S10.”
Samsung, which is the largest conglomerate in South Korea, has been most dominant over many of the country’s major sectors such as insurance, online payments, car manufacturing, asset management as well as property development – demonstrating a clear interest towards the cryptocurrency sector.
Speaking of, Samsung entered the cryptocurrency sector with a venture focused on Bitcoin mining, creating mining equipment directly from its base in Suwon (South Korea). Over the past couple of months, other reports claimed that the tech giant has been working with Halong Mining in China and Squire in Canada, but as of December the official distributors of Samsung’s ASIC mining chips remain unclear.
If the company is about to enter the cryptocurrency exchange market, it will have to build a new infrastructure from the ground up. According to SamMobile, a wallet may get integrated into the Samsung Galaxy S10, allowing users to import their data from wallets such as MetaMask and Trust Wallet to transact natively with the smartphone.
“Samsung’s cold wallet app will enable users to import their existing wallets from third-party services like Metamask or TrustWallet. They will also be able to create a new one in the app itself. The cryptocurrencies and tokens supported initially may include Bitcoin, Ethereum, Ethereum-derived token ERC20 and Bitcoin Cash,” the publication reported.
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"We believe this thesis still remains intact which could mean seeing a break of the lows in the coming weeks. A 25% selloff in BTC from the current lows of $3,200 would be to roughly $2,400."He also shared that the next sell-off could be just what the crypto market needs in order to finally break the backs of the bears and reach a new bull momentum in 2019.
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“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
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