Samsung Is Paving the Way to Wider Cryptocurrency Adoption by Adding Bitcoin, BNB to Galaxy S10

Owning and storing cryptocurrencies is a lot easier with a Samsung Galaxy S10 smartphone.

Four months after insider sources revealed that the South Korean technology giant was planning to support Ethereum tokens on its flagship phone, the company announced it will expand its offerings to to include bitcoin, Binance Coin and a host of other stablecoins.

Bitcoin, BNB, Stablecoins Coming to Galaxy S10

South Korean media reported in August that Samsung was adding bitcoin to its list of supported cryptocurrencies. A new report by U Today says several other coins have also been added, including BNB and major stablecoins TrueUSD (TUSD), Maker (MKR) and USD Coin (USDC).

All said, 33 cryptocurrencies are now supported by the flagship smartphone.

The news has since been confirmed by multiple sources, including Reddit users with a Samsung Blockchain Wallet. One user provided the following screenshot:

Galaxy S10 expands list of supported cryptocurrencies. | Source: Reddit.

Although Galaxy S10 sales have slowed in recent months, they are providing a much larger platform for cryptocurrencies to attract mainstream users. Digital assets like bitcoin have a large community of investors, developers and enthusiasts, but adoption among average consumers is still lacking. At this stage, institutional adoption of crypto-as-an-investment appears more likely than consumer adoption.

Crypto Market Update

The top ten cryptocurrencies hovered around breakeven on Saturday, as the market continued to search for direction. Bitcoin suffered a major reversal midweek, which proved punishing for altcoins and tokens.

Bitcoin was last seen hovering just north of $9,600, according to CoinMarketCap data. Ethereum (ETH) was right around $170 after plunging to four-month lows earlier in the week.

The Ethereum-bitcoin exchange rate, long viewed as a proxy for altcoin demand, is currently trading near its lowest level in two-and-a-half years. ETH/BTC was last seen trading at 0.0176, having declined 50% year-to-date.

Ethereum’s performance relative to bitcoin is seen as a major proxy for altcoin demand. The ETH/BTC exchange rate is down 50% year-to-date. | Source: CoinMarketCap.

In terms of the other top players, XRP rose 0.5% on Saturday to reach $0.2578. Bitcoin cash fell 1.4% to $278. Litecoin was down 0.4% at $64.

Read: If You Missed These Altcoin Pumps, Don’t Worry; You Might Get Another Chance

The total cryptocurrency market is valued at $249 billion, having declined $23 billion from last Sunday. Coin values are down a whopping $140 billion from their yearly peak.

Another volatile week for cryptocurrencies as bitcoin, altcoins plunge. | Source: CoinMarketCap.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. Chart via CoinMarketCap.

Author:
Chief Editor to Hacked.com and Contributor to CCN.com, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi