Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,48 trillion. Bitcoin increased by nearly 5% to reach around $40,000. Ethereum is up by almost 4% to cement its price above $2,100. XRP lost almost 1% in value this week. Almost all altcoins are trading in the green, with some exceptions. The DeFi sector increased the total value of protocols (TVL) to around…
Blockchain browsers, social media, and now recently, blockchain phones all these developments show how fast the blockchain world has been growing in the past few years.
However, although there are several blockchain phones, a large chunk of crypto investors is yet to embrace the idea of blockchain phones. Can’t regular phones make crypto transactions? Why should a crypto enthusiast decide to use blockchain phones? Keep reading for more insight on the topic.
Can Regular Phones Make Crypto Transactions?
Regular phones with standard features are capable of performing some Crypto options and services. For instance, blockchain mobile applications are both for android and iPhone devices designed for Crypto trading, exchanges, mining bots, and wallets. For example, a crypto exchange like Binance later introduced its phone-based applications to make crypto trading easy.
Responding to whether standard phones can make crypto transactions, the simple answer is Yes, they can. However, normal phones use operating systems designed without putting the power and weaknesses of blockchain in mind. They are prone to bugs, hacks, and failures when dealing with crypto-related services.
Therefore, there was a need for more blockchain devices to be introduced for the ultimate protection of the average crypto investor.
Why Use Blockchain Phones?
Made with Top Blockchain Security
The first and topmost reason why the crypto community should use blockchain phones over standard phones for crypto treading is embedded security. In their making, regular phones do not consider the effect of their programs on crypto users.
However, blockchain phones, from their programming, the OS used is customized to provide utter security to blockchain users. Therefore, when you do any financial/blockchain-related activities, you can be sure that your funds and blockchain accounts are safe.
Some phones even institute military-level security for the protection of the users’ wallets and funds. Therefore, blockchain phones are better since they consider all the security weaknesses of blockchain and the many things involved in creating and running blockchain applications.
The Hardware Used
The hardware used in making blockchain phones is friendly to the crypto and blockchain ecosystem. Generally, the hardware used is robust and capable of hosting blockchain applications. Therefore, under no circumstance should an investor find messages about the phone’s inability to host a certain blockchain-based application.
For instance, today, not all regular phones can allow users to mine crypto assets. However, some blockchain phones like HTC Exodus 1 enable users to mine and earn rewards. The hardware used in making HTC is mining-friendly. Other crypto-friendly phones use very high-quality processors and RAM to ensure the phone is a reliable crypto services host.
Crypto investors should therefore consider using blockchain phones for better treading in the crypto world.
Blockchain Phones are Self Contained
Blockchain phones often come with crucial everyday crypto and blockchain tools for storing and protecting assets. Regular phones do not come with any blockchain or crypto-related application like wallets. Mainly, the investor needs to download all the wallets they need, plus exchange, trading bots, or any other tool they may need.
Blockchain phones, however, in the making, are made with an internal wallet, exchange platforms, and trading bots. Others come with cold wallet options, all available on the device. Most of these tools help store and trade major crypto assets like Bitcoin, Ethereum, ERC-20 tokens, and many more.
Using phone-specific wallets and applications increases the security of your assets as you tread in crypto.
Decentralized to The Core
Some blockchain phones are also decentralized to the core, meaning even the communications in the platform are decentralized. In some cases, some phones send text messages through blockchain technology and not a centralized server. Others also allow users to make peer-to-peer calls. Since decentralization is the center of crypto, using phones that support decentralized activities makes work super easy for the user.
Examples of Blockchain Phones
HTC Exodus 1
HTC Exodus 1 is probably the most advanced blockchain-centered phone, launched in 2018 to provide crypto enthusiasts with an easier time treading in crypto. HTC later introduced a more cost-friendly version of its original Exodus 1 phone to ensure every investor can own a blockchain phone. You can safely store assets like Bitcoin, Bitcoin, Ethereum, and many other ERC-20 tokens in one wallet called ZION.
Sirin Labs FINNEY
Finney is a Sirin Labs phone designed for the sole purpose of easing the use of blockchain and crypto. This phone leverages the best features, including maximum protection using military-grade encryption, cold storage for wallet, and safety of transactions. Moreover, it has a physical switch for the cold wallet.
The Samsung Galaxy S10 blockchain phone, launched in 2019, has been an excellent tool for all blockchain and crypto-asset investors. Later versions of Samsung, like Samsung S20, have been a perfect home for crypto wallets and services. This phone is increasingly becoming a powerful tool, with the blockchain wallet supporting assets like Bitcoin, Ethereum, and TRC tokens.
The Future is in Blockchain Phones
As Blockchain technology continually advances, the future is becoming even better. Many daily tools are already based on the blockchain, including browsers, social media platforms, and phones. Other countries and institutions are introducing their versions of digital currencies.
Looking at the trends, it’s clear that blockchain is the future of the financial world and the technological world. Crypto investors, it’s time you start using blockchain phones for better trading and the safety of your assets. Moreover, it’s time for people to start embracing the idea of blockchains, and what better way than using blockchain phones.