Samsung bitcoin app safe and secure for cryptocurrencies

 

Virtually all available wallets require a back-up of the wallet with a 24-word mnemonic seed. The user is asked to write down the 24 random words and then store them in a safe place to be used in the future in the event a wallet is lost and requires recovery. This is a flawed approach and constitutes a potential security breach.
Anyone who is in possession of these 24 words is in control of the funds stored in the wallet. Any time that you write down these words and store them somewhere there is exposure to risk.
No matter how secure the location or hiding place there is a possibility that someone can find the seed phrase and take over the funds stored in the wallet. There is also the possibility of fire, theft, water damage, decay and many other events that can trigger a total loss of funds stored in a wallet.

A truly secure cryptocurrency wallet allows the user to store an unlimited amount of funds without any risk or possibility of loss.  And this is exactly what we do in the DigitalBank Hardware Wallet . 

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The idea of a Samsung and Bitcoin team-up has been heard before but it seems something will become a reality soon. The South Korean tech giant was recently reported to introduce a bitcoin app. As with related apps, it will be a wallet for your cryptocurrencies. Samsung is also planning on a blockchain phone, as well as, a cryptocurrency software. The company is said to have already applied for trademarks which means the product will be announced soon. Nothing is certain yet but we’re looking forward to the Samsung bitcoin app installed on a Samsung blockchain cryptocurrency phone.

The mysterious phone could be launched alongside Galaxy S10. There is a possibility it will be one of the variants but at this point, we’re only interested in the bitcoin app.

Early information tells us the cryptocurrency service or app will have two parts. One will be a cold wallet and another one a crypto wallet. The cold wallet will be for saving cryptocurrency , public, and private keys. This also allows signing private keys for those cryptocurrency transactions.
The crypto wallet is used for transfers, as well as, viewing one’s account information and transaction history.

The Samsung bitcoin app is expected to be very secure. Samsung devs can make the wallet app safe from hackers by ensuring the cold wallet is always kept offline. The app isn’t just for Bitcoin as other cryptocurrencies can also be used like Bitcoin Cash, ERC20, and Ethereum .

Samsung will not have access to the data and accounts that will be created with the app. They will be saved on the blockchain network with anonymity. It will be difficult to recover a password because if you need to, you will have to enter the standard 12 to 24-word phrase.

 

The DigitalBank Technology is solving urgent issues like : Hacking of Crypto Exchanges and Wallets , the loss of passwords , usernames and relative access keys to Bitcoin and Crypto accounts , and the Loss of Hardware Wallets and Paper wallets .
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DigitalBank is the safest Cryptocurrency “wallet “available: the only Real Safe Haven of Bitcoin and Crypto Investors with a full scale cryptocurrency exchange , for trading securely all major crytocurrencies

The DigitalBank is the real solution to millions of people seeking private secured and ultra confidential online banking .

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With the DigitalBank technology your crypto money is safer than in any bank vault on earth .The private key is never stored on the device itself and is never transmitted anywhere so there is no risk that someone can obtain information through forced entry.

Even if your DigitalBank Vault Device, is seized or stolen, there is nothing that anyone can do to extract the private keys because they are not on the device in the first place. If the DigitalBank device is taken apart and forensically analyzed the private keys cannot be retrieved .

For additional information , contact us today at [email protected]