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Samsung Blockchain Wallet integrates with Gemini

Blockchain

September 2, 2020 | 

JOHN K MWANIKI |  1 Comments| 

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Samsung has been one of the most crypto-friendly companies. It is one of the top smartphone companies to introduce crypto wallets on their gadgets. It sealed the spot of being a top crypto company by partnering with Gemini. It is a first of a kind partnering between the smartphone company and the exchange. 

The company announced the crypto wallet support at the launch of the galaxy series. As one of the most popular smartphone devices, this was likely to create an industry boost. It still remained a little far from being the leading crypto support firm. It is on the path towards reaching the levels. The partnership with Gemini is a sign of what is yet to come from the company. 

The partnership allows Samsung to blockchain wallet users to access Gemini exchange services. The services are available for users in North America and Canada.

The users connect the Gemini mobile app to their Samsung devices. They can then use the platform to buy, sell, or store cryptos. The Gemini platform also provides for account balance update. It also supports crypto transfer to the secure cold storage wallets. 

The partnership reinforces Samsung's commitment to establishing secure access to the crypto ecosystem. The Samsung Blockchain wallet is one of the most convenient and secure wallets. It helps in self-custody through mobile phones. 

The partnership could not come at any better time. The coronavirus pandemic has seen most people look for alternative digital assets. Crypto has since become the most viable alternative. The uptake of the cryptos has since gone up, with most people looking to have a piece of the "digital gold." The crypto exchanges across the world have experienced a boom in registration. 

Why Gemini?

Gemini is one of the best platforms to partner Samsung blockchain wallet. Formed by some of the top crypto industry experts, it offers all the users' needs. It supports several top cryptos. Some of the coins on its platform are Bitcoin, Zcash, Ethereum, Litecoin, and Bitcoin Cash. 

Gemini also comes with the needed security. It is a New York Trust company that comes with several regulations. It complies with the various reserve and cybersecurity requirements. These are set by the New York State Department of Financial Services.

It also complies with the banking compliance standards set by the New York Banking Law. It has been providing trading services since 2014 and has kept growing over the years. 

The Gemini's leadership recognized how big of a deal it is to be working with Samsung. Tyler Winklevoss, a Gemini co-founder, expressed pride in working with Samsung. "Crypto is a movement, it is not just a technology," He said. "We are proud to be working with Samsung to realize crypto's promise. It seeks to ensure independence, opportunity, and greater choice to the people in the world."

Samsung Blockchain wallet customers can now access crypto in secure and simple means. 

Samsung has a wide range of smartphones with the crypto blockchain wallet support. Some of these devices are the Galaxy S10 and Galaxy S20 lineups. The Galaxy Note 10, Note 10+, and the unlocked S10 lite also come with the features. 

The users of these gadgets can download the Gemini mobile app from the Galaxy store. They then pair it with the Samsung blockchain wallet from the same point.

Some of the notable missing gadgets are the Galaxy Z Flip and Galaxy Fold Verizon versions. Samsung will keep the blockchain wallet features in all the future high-end smartphones. The smartphone giant is also expected to spread access to several other countries. 

For now, it is unclear the cryptos the Wallet app supports. Samsung first launched it for Ethereum. It afterwards expanded to support Bitcoin. It also helps some other small coins like the COS. 

Possible Impacts of the Partnership 

Samsung has been at the forefront of crypto adoption. This has been evident ever since it introduced the Blockchain KeyStore last year. While the move was to revolutionize the crypto uptake, it somewhat stalled. There has been stagnating adoption in recent times. 

The partnership between Samsung and Gemini looks to help with the stalled adoption. Most of the users do not have excess to reliable exchanges and customer support. Several potential users also lack secure storage facilities. It is, otherwise, different from the exchange becoming available on the phone.

Samsung currently controls 21.2% of the smartphone market share worldwide. It had more than 298.1 million units by the end of Q1 2020. A successful partnership with Gemini will see it open up a whole new market for the cryptos. 

For a long time, the Samsung users have been to the only send, receive, and store cryptos. The ability to buy or sell the cryptos through Gemini takes it to a whole new level. Most of the users are now in a position to own their first tokens. Both of the currencies are looking to streamline the crypto adoption hurdles. 

Already there are other established exchanges. Any crypto enthusiast must know of Binance, Poloniex, or OKEx. Their only concern is that they are not beginner-friendly. They concentrate on the active buying and selling of the coins.

Anyone starting would miss out on what's happening. This is different from Gemini. It is prominent in providing a streamlined and intuitive crypto trading experience.

Samsung already has cold storage. When partnered with Gemini, then anyone can join the trade. 

Bottom Line

Samsung is a smartphone giant when it comes to crypto. It started the trend by introducing the blockchain wallet in 2019. It still looks to keep the trend. That is why it has partnered with Gemini for exchange facilities at the user convenience. 

The partnership is likely to boost the crypto uptake, unlike never before. The traditional exchanges favour the rich and savvy. This partnership looks to be the avenue for the new and the less monied users. 

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batholomew brown
batholomew brown . I’m a bitcoin trader and the time I’m writing this blog I can’t find a single review about many bitcoin trading signal services and companies. I have lost lots of money testing them for over an year. I don’t want you to be scammed too.

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