Opinion: Samsung Galaxy S10’s cryptocurrency support is really good

The end result is that it’s a phone to which you can download a cryptocurrency wallet, making the user experience functionally identical to any other …
Andrew Munro14 March 2019NEWS

Samsung’s innate cryptocurrency support on the Galaxy S10 exceeds all sensible expectations.

The Samsung Galaxy S10 smartphone made a splash in the cryptocurrency world. First, there were rumours of it having a built-in cryptocurrency hardware wallet.

These rumours were confirmed in a fashion, by a press release from 20 February 2019 which carefully stated that the phone would have “secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services”.

Hype was further stoked at the Barcelona Mobile World Congress when Samsung touted “Block Chain” features including a digital wallet, and implied support for Bitcoin, Ethereum, Enjin and Cosmee.

Now the phone is finding its way into people’s hands and a common sentiment among crypto enthusiasts is that it lacks the expected blockchain beef.

What it doesn’t have

The most glaring absence according to many is that the hardware wallet doesn’t support Bitcoin. By itself this is enough to convince a lot of people that Samsung isn’t taking this whole crypto thing seriously.

It’s “akin to your broker at Charles Schwab or Fidelity telling you that your 401(k) lets you invest in silver, copper and other metals but not gold” lamented an editor at Bitcoin Magazine.

The other disappointment comes from the apparent belief that it would have innate hardware wallet support, in the form of some kind of pre-installed in-your-face app that jumps right out at users.

But it doesn’t. Instead you have to download the wallet app from Samsung’s Galaxy Store. The end result is that it’s a phone to which you can download a cryptocurrency wallet, making the user experience functionally identical to any other smartphone that lets you download a mobile cryptocurrency wallet.

After a lot of hype, people are feeling pretty underwhelmed by it all.

What it does have

Although it doesn’t have Bitcoin, it does provide a full degree of support for Ethereum ERC20s. And while it doesn’t have a pre-installed wallet, it is still unambiguously a built-in cryptocurrency hardware wallet which uses the offline “enclave” built into the phone.

Based on user descriptions, the installation process will be quite familiar to anyone who’s used a hardware wallet before. When you run the app, it will walk you through the process of setting up a PIN and getting your seed phrase, reminding you that if you lose your seed phrase you’re screwed, and so on.

The most anomalous part of the experience is that the phone will ask for a range of permissions to use the wallet, like access to phone calls and the camera, so that’s pretty weird.

Why it’s actually really good

Firstly, it’s unambiguously a Samsung cryptocurrency hardware wallet. No matter how you slice it, Samsung has built a cryptocurrency hardware wallet into its phone. Sure, it probably wasn’t too difficult given that the phone’s security suite was always going to include offline data storage anyway, but it’s definitely there.

And to be crystal clear, it is a good thing that you have to separately download the wallet. It would be very bad if it came pre-installed.

There are some things to complain about, but this is not one of them.

The most important reason is because pre-installed wallet software would be an unacceptable security risk. This is exactly the same reason you do not get pre-installed software on other hardware wallets, but instead have to buy the wallet and then download the software.

Firstly, because pre-installed wallets mean people could be unwrapping and using new phones with outdated wallet software and exploitable vulnerabilities. Requiring people to download the wallet app before using it adds a lot of security by ensuring people with new phones are downloading the latest version.

Secondly because it reduces the risk of people getting burnt by buying second hand phones later, buying tampered-with ex-display models, or purchasing from unscrupulous sellers. It’s relatively easy to ensure that hardware wallet supply chains are tightly controlled, in part because all users are relatively security conscious. Smartphones are an entirely different can of worms.

Thirdly, because downloading the software presents new opportunities to do things like check the genuineness of a device.

Pre-installing a cryptocurrency wallet on the Galaxy S10 would also be dangerously irresponsible, verging on negligent, on Samsung’s part.

They still aren’t the most user friendly things around. How many other apps can you download which simultaneously hold potentially large amounts of money, and warn you that if you lose your password and your phone you are 100% guaranteed screwed? Shoving that at unsuspecting users is a frankly stupid idea. One of the first things people do with a new phone is poke around the pre-installed apps and most people obviously wouldn’t be ready to catch a recovery seed thrown in their face.

If the wallet was pre-installed, people would be almost guaranteed to lose money and it would arguably be Samsung’s fault.

And last but not least, unwanted pre-installed software on consumer devices is not a good thing. This remains true regardless of how you feel about cryptocurrency.

For perspective

The wallet software you download is Samsung’s own. It comes with its own innate features such as the CoinDuck payment app.

And like most other ERC20-specific crypto wallets, it lets you manually add any ERC20 tokens you want, while offering default support for a handful of the more popular ones. These include ZRX, BNB, REP, TUSD, PAX and more. It’s a fairly respectable range with some fairly clear applications.

juicy crypto words

For example, you can use the Samsung Galaxy S10 app to securely send any amount of USD-pegged stablecoins to any other Galaxy S10 user (who’s downloaded the wallet app), anywhere in the world almost instantly with near-zero fees. Sure you could previously do it with other mobile wallets, but not as easily or securely, and not through a Samsung app.

You shouldn’t underestimate how much legitimacy this gives the app, and how much more easily the Samsung Galaxy wallet could be framed as a more general wallet and payment app than others.

It has a real need too. Transferring money internationally is still very expensive, even with more traditional mobile money apps, and regulatory and banking issues mean fiat wallet apps tend to have limited ranges of countries, restrictions on amounts which can be sent, and much higher overheads thanks to needing to use an entire company to act as an intermediary.

But now you can send transparently USD-backed money directly peer to peer without any intermediaries or obstacles other than the blockchain, and this feature is very near at hand for all Samsung Galaxy S10 users. How jaded do you have to be to not consider that utterly cool?

Of course a lot of people are disappointed that you can’t send Bitcoin, but ERC20 stablecoins are obviously just much more practical for payments. Plus, actively avoiding explicit links to Bitcoin are probably a better way of getting more people to experiment with cryptocurrency. Throwing Bitcoin up front and centre is just asking for people to dismiss it as “one of those Bitcoin things” without exploring any further.

It’s also worth noting that a lot of time and effort is believed to have gone into the Galaxy’s initial showcase cryptocurrencies. According to various sources, Enjin was involved with Samsung for at least 6 months prior to news breaking. This sentiment was echoed by Cosmee CEO Howon Song who said “we did dozens of meetings [with Samsung] to verify the model and technology”.

The Samsung Galaxy S10 has a built-in hardware wallet, and in line with all basic common sense it has created a web wallet counterpart for separate installation. This web wallet comes with a varied and practical range of cryptocurrencies picked by Samsung, with room for plenty more. It has sensibly chosen to avoid Bitcoin, focusing instead on a more practical range of cryptocurrencies all built around the same token standard.

What’s not to like?



Disclosure: The author holds ETH and XLM at the time of writing.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Best Stellar Lumens (XML) Wallets 2019 – Safely Store XLM Tokens

Foxlet wallet can be installed on your Windows, Linux or Mac and is a Stellar-specific wallet, meaning that it can store only your XLM currency.

Stellar Lumens is one of the most often talked about projects on the crypto market. Known for its token’s ticker XLM, Stellar at one time managed to overtake competitors become the 4th most valuable cryptocurrency in the world. And while this mentioned rise can mostly be attributed to BCH going through a rather turbulent period of its existence, Stellar has legitimate reasons to be placed as high as it currently is.

Being a decentralized platform that looks to provide worldwide, cross-border payment service to underbanked, unbanked and even properly banked people of the world is one of those reasons.

Arguments why Stellar Lumens is a project that promises to connect financial institutions and individuals with speed, reliability, safety and affordability never seen before are many. Some community members point out that XLM is very similar to XRP in terms of centralization and question its claims to the throne of decentralized cross-border payments.

We won’t be covering any of these arguments in this article; today we’ll be focusing on how you, the average investor, can store your XLM tokens.

How to store XLM?

Naturally, you’ll need a wallet to store your XLM, just like with any cryptocurrency on the market. The tokens can be purchased through a very wide range of cryptocurrency exchanges.

Each of these exchanges will have a native wallet that can be used to store your XLM; however it’s not recommended to leave your cryptocurrency on a wallet whose private keys you don’t control.

This means that you’ll want a wallet whose private keys remain in your possession. You’ll also ideally want to have a wallet that will store your cryptocurrency in a safe way and offer features like password encryption, 2FA and PIN wallet locking.

Finally, ensuring that this wallet will keep getting support in the future – both development and customer – is something you should do as well. Thankfully, there are more than enough quality wallet solutions that offer XLM storing while having all or most of abovementioned features.

Stellar Lumens website offers 17 wallets that can be used to store their cryptocurrency XLM:

Foxlet Wallet

Stellar Desktop Client (renamed into Foxlet last April when the final, 4.0 version of the wallet was released) is the open-source desktop wallet of the Stellar Lumens project. Foxlet wallet can be installed on your Windows, Linux or Mac and is a Stellar-specific wallet, meaning that it can store only your XLM currency. The wallet does provide the option of depositing and withdrawing Chinese yuan (CNY) as well.

This wallet lets you encrypt your XLM wallet private key and then store it on your own computer, meaning that your wallet will be as safe as said computer. Key features of the wallet include:

  • Free to download
  • Login information stored locally
  • Send and receive/ buy and sell XLM
  • Add trust from known anchors
  • Create your own asset
  • Deposit/withdraw CNY

report this adFoxlet is a good wallet that maybe lacks support for other currencies but offers a safe, Stellar-approved way of storing your XLM.

This lightweight solution offers you a simple way of managing your XLM funds. Use this lightweight client to send and receive lumens over the Stellar network over your desktop.

You can sign into the viewer either by imputing your private key into it or by generating a new key pair for a new account. Some might be uneasy with sharing/generating their private keys online but Stellar Account Viewer has an impeccable record when it comes to safety of said keys.


XLM Price Prediction for 2019


You can even use this viewer to generate a new wallet, write its private/public keys down on a piece of paper and store XLM on that public address. For a bit more interactivity and ability to manage your funds, the viewer can be connected to hardware wallets like Ledger Nano S or Trezor One/Model T.

Ledger Nano S

Ledger Nano S is one of the most popular wallet solutions on the market. The wallet is a hardware solution which can store your Bitcoin, Ethereum and many other altcoins.

The wallet is the safest storing option for your cryptocurrency. The wallet has been a mainstay of the crypto community for a while now, with everyone from the average beginner to the experienced investor recommending it as one of the best storage solutions.

The device looks like a USB device and has an OLED screen which lets you check your transactions. It can be hooked up to a computer via a USB cable which lets the Ledger Nano S connect to the internet and lets you use the desktop Ledger Manager app.

The manager has a Stellar app pre-installed on it; this interface requires you to connect your Stellar Account Viewer to it in order to be able to see your XLM balance and manage your currency. Learn how to do so here. The device comes with 2FA, a secure PIN code and options to recover your wallet if something happens to your device.

Popular hardware solutions from Trezor, not listed on the Stellar website but they do offer XLM storage capabilities. These wallets are a bit more beefy and robust than Nano S but they offer rather similar features. You can connect your Stellar Account Viewer to this wallet through the Trezor Bridge software.

BlockEQ is a XLM-supporting wallet that can be downloaded for iOS, Android, Mac OS and Windows 10. It is a solution which allows you to maintain control of your private key by writing down the 24-word seed generator on a piece of paper. The desktop wallet also offers an advanced passphrase option that allows the user to add a second layer of protection on top of their 24 words.

The wallet has recently been acquired by the Canadian exchange Coinsquare. BlockEQ team will keep developing the wallet while operating as a subsidiary of the exchange platform and it remains unclear if there will be any integration between the two companies software.

The wallet lets you store XLM, as well as any token from the Stellar Network. BlockEQ is also the first native iOS wallet that supports trading on Stellar’s decentralized exchange SDEX. It includes additional options like PIN protected private key, ability to receive inflation every week, detailed balance summary, and exchange address recognition. Read the tutorial on how to set this wallet up here.

atomicwallet

Atomic Wallet works as a decentralized wallet platform for custody-free, immutable, cross-chain, and transparent cryptocurrency trading. The trading takes place on the wallet’s decentralized atomic swap exchange. This exchange lets users operate without the need to register and perform annoying and privacy intruding KYC/AML verifications. Enabling anonymous cross-chain swaps with no third party risk, the wallet is a safe and private solution for managing your cryptocurrency. Atomic Wallet is capable of storing over 300 cryptocurrencies, including XLM.

The wallet offers several features, including the old fashioned instant exchange or direct cross-chain atomic swaps through two integrated exchanges, Changelly and Shapeshift. With low fees, wide variety of coins on offer and a well-tuned user interface, this wallet is available for your desktop Linux/Windows/Mac. Mobile wallets are expected to happen soon.

The Clic Wallet is an interesting addition to the Stellar’s wallet lineup. It is a peer-to-peer Stellar wallet that makes use of federated Stellar addresses, letting users send money like an email anywhere in the world. This is much simpler than having to memorize and type out the full wallet public key whenever you want to send funds.

This wallet includes a multi signature vault and a crypto-to-fiat mobile and e-commerce payment facility ClicPay. ClicPay allows its users to:

  • Store XLM and other pre-approved Stellar tokens in an operating wallet as well as in a multi signature vault.
  • Do payments or cash out in any local fiat currency using XLM or other approved tokens direct to a ClicPay enabled merchant
  • Send fiat currency direct from XLM or other tokens to any Clic Banking wallet

Clic wallet is currently available on the Google Play Store, with an iPhone version under development. The wallet is being developed by Clic.world, a project looking to build a worldwide connected financial eco-system. Read more about this up and coming Stellar asset manager here.

A wallet solution created by Stronghold, a financial services platform that enables payments, trading, and USD reserves using products like Stronghold USD (platform’s stablecoin) and their platform APIs.

Creating a wallet will require you to register for a Stronghold account, after which you’ll be given a dedicated storage space for your currency. The wallet is open-source and lets you easily store or send your XLM tokens in less than a minute.

It’s a reliable solution which currently lets you store Bitcoin and Ethereum alongside XLM. It is a web wallet so take note that it can potentially be less safe than some of the other solutions on this list.

Other notable mentions

Stellar’s website mentions one AstralWallet, a web-based Stellar wallet which lets you store XLM, receive payments from the inflation pool, create multiple accounts and additionally store MOBI and SLT tokens. The issue with this Astral is one similar to the one we had with Stronghold; being an online wallet, your funds are potentially less secure than with other solutions.

Stellarport is a lightweight, desktop, web-based portal to the Stellar network. It lets you view your wallet, send payments and trade on the decentralized exchange. It offers a smooth intuitive interface, real time trading/account monitoring, payments in any asset and flexible signing options (even with a hardware wallet). Its only “issue” is that it’s also an online wallet.

Smartlands is a security token issuing platform which helps projects with auditing, legal and other preparations required to launch their very own ICOs. It also comes with a neat built-in wallet which lets you control your balances, make payments, trade and even issue tokens. Of course, it also lets you store XLM. The wallet allows you to generate your keypair on the spot or enter your existing private key. Again, it is an online solution which comes with its own risks.

The website also lists the Blockchain Wallet for some reason, a popular online/mobile wallet with a solid pedigree and 15 million users behind it. However, this wallet only supports BTC, ETH and BCH at the moment.

Papaya Wallet is an interesting solution offering simple storage of XLM/several other cryptocurrencies like BTC, LTC, EURT etc. The wallet is a Telegram bot which functions as both multi-currency wallet and a peer-to-peer marketplace for cryptocurrency trading. It can be used on Windows, Linux, Mac, Android, iOS, FirefoxOS, Windows Mobile, aka any platform that supports Telegram. With federated addresses and cross-currency transfers supported, this one is a lightweight platform you can consider.

Firefly Wallet is another solution suggested by the Stellar website. Built on top of the Stellar Lumens network, Firefly is only one of the few XLM-suitable wallets that can be used on iOS devices. It also offers a native Firefly exchange and is apparently capable of completing transactions in 2.5 seconds. Being located in China and having its promo material riddled with spelling errors, this one didn’t earn the community favor either.

Saza Wallet is described as a desktop wallet that can be downloaded for your Windows/Mac platforms, Saza is meant to help its users manage their lumens and other assets. It’s a Nigerian-made wallet which offers several useful features, including federated addresses, multiple accounts, support for inflation pool and anchors. Saza has also stayed on the fringe in terms of community adoption.

StellarTerm is a desktop client (supports Windows, Mac, Linux) that can be used to access the Stellar Decentralized Exchange. It lets you send, receive and trade assets on the Stellar Network. It does require you to input an active wallet’s private (“secret”) key which needs to have at least 20 XLM on it. It enables easy, safe trading on the Stellar Network and comes with a list of anchors that’ll make your network using experience much simpler. StellarTerm is developed by Ultra Stellar, LLC, the same company that developed the LOBSTR wallet. That being said, the project hasn’t been very active on GitHub as of late.

Stellar Lumens’ website suggests several other wallets like Lobstr or Stargazer; we cannot recommend these storage solutions as the community reviews for these have been somewhat poor. Finally, Centaurus wallet is mentioned as well, but this one also has a lot of negative reviews on Google Play and hasn’t been updated since December of 2017.

Final thoughts

This concludes the list of 17 wallets offered on the official Stellar wallets list. You’ll find other third party solutions like Guarda online but since these weren’t covered by the project themselves, we’ll leave it out of our list as well. The solutions we covered are more than enough to get you rolling and storing. Considering the fact that the markets are reaching the bottom of the current bear cycle, you don’t have many reasons not to buy and store your first XLM in one of the wallets from this list.

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CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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Best Iota Wallets – Top Options Compared

Other important things to consider when picking your cryptocurrency wallet include how easy to use is the wallet, what platform you wish to use it on …

Storing cryptocurrency is an important part of any crypto enthusiast’s experience. Whether you’re trading your coins on the daily or holding them for the next 5-10 years, you need to know that your funds are kept in a safe wallet which cannot be accessed without your authorization. This problem troubles holders of every cryptocurrency on the market, including IOTA.

IOTA is a cryptocurrency which turned many a head in the past for various reasons. Some see it as the future of the upcoming Internet of Things, promising to deliver unmatched scalability, decentralization, and adaptability thanks to its unique DAG (Directed Acyclic Graph) blockchain replacement called “The Tangle”.

Blockchain maximalists will tell you that IOTA’s different approach to verifying transactions simply won’t work, as the system is ultimately too centralized and unable to scale better than other cryptocurrencies. But we aren’t here to dive in deep into the tiniest iotas of information about this cryptocurrency; we are here to talk about the best ways of storing your IOTAs.

About storing IOTA…

To store IOTA, you’ll want to use a wallet that is of course able to store it. Sending cryptocurrency to an unsupported wallet will result in you losing your funds, so be careful when imputing the receiving address. It is also absolutely recommended to use a wallet that lets you keep control of your private keys.

Storing cryptocurrency on an exchange is an ok way of keeping it safe but, in this case, your wallet’s private key is controlled by the exchange itself. Any centralized issue with the exchange could result in you losing your entire bag.

Other important things to consider when picking your cryptocurrency wallet include how easy to use is the wallet, what platform you wish to use it on (do you want to have a desktop, mobile, hardware or paper), does it offer some additional security options (like 2FA or password-encrypted private keys) and what the wallet creator’s dedication to development/track record with customer support are like. There are a couple of IOTA supporting wallets that tick some/all of the boxes listed above:

  • Trinity wallet

Trinity wallet is a wallet officially supported by the developers working on IOTA. Originally envisioned by a then University College London student Charlie Varley (who is now a working member of the IOTA team), the wallet is currently in the beta stage of its development.

You can get it for Androidhere or sign up as an iOS beta tester here. The desktop version is available for Windows, Mac and Linux. Trinity wallet is being regularly updated and the currently active version 0.4.3 can be reviewed here. Many see the Trinity wallet as the best possible IOTA storing solution on the market. It is also widely considered that Trinity will help IOTA achieve mass adoption in the future.

This wallet provides a quality user interface that is very beginner user friendly. Creating the wallet from scratch is an easy process and is done with a built-in seed generator. The generator will give you a unique seed and said seed can be password-encrypted for added safety.

Transferring your funds is simple, as all the user is required to do is enter a correct address and the amount he wishes to send. It also contains several useful features like multispeed support, paper wallet support, QR code support, Ledger Nano S support, balance/market data/transaction history information, Standard/expert modes, local/remote PoW, fingerprint authorization, 2FA, as well as different themes, languages and currencies.

Most of these features are described in detail on the Trinity wallet website. As noted before, Trinity wallet is still in beta but you can track its development by checking out the project’s roadmap.

  • IOTA GUI wallet

GUI IOTA wallet was the most popular wallet in the IOTA community before Trinity entered its beta testing phase. This wallet can be downloaded from IOTA’s official GitHub and its latest version, 2.5.7, has been released this last January.

The GUI is a simple 1-click installation and is available on desktop for macOS, Windows and Linux (deb, rpm and tarballs) in both 32-bit and 64-bit. This wallet software is provided directly by IOTA and appears 4 different download options.

Website iotasupport.com offers extensive knowledge bases for the installation of the GUI (full node, intermediate setup), Headless Node (full node, hard setup) Light (easy setup) and an Android (easy setup) IOTA wallets.

Since it is mainly intended for running full nodes, IOTA’s GUI wallet it’s not exactly beginner friendly and is more suitable for people who have experience with coding and node setup. Running a full node is something that helps you connect to the IOTA network directly and at the same time helps the network stay operational. Such a node is rather difficult to set up but you can follow this guide here if you’re interested in learning how to do it.

As a regular user/holder you had the option to use the light or the android options to store your cryptocurrency. Downloading one of these lightweight GUIs would let you easily access IOTA’s Tangle through a third party full node while maintaining control over your private keys.

However, it appears that IOTA Foundation shifted all of their resources to Trinity development, meaning that these wallets won’t be getting many (if any) updates in the future.

The GUI wallet has been panned by the community for its lack of user friendliness in the past. Its Android version also came out to a torrent of negative reviews, due to a large amount of bugs that greeted its original users.

However the user experience has apparently been significantly improved with the 2.5.7 version of the software. An interesting tidbit about this wallet is the story about users turning to online seed generators to create their own IOTA wallets private keys.

Needless to say this is a very bad practice as anyone on the service provider side of such a generator can rebuild your wallet on their own software and access your funds. As the article linked above says, keep seed generation and private keys as offline as possible, always.

  • Nostalgia light wallet

Nostalgia is a light wallet concept that is aimed at enhancing the IOTA GUI wallet experience. If you are someone who isn’t interested in running a full node on any blockchain network, light solutions are the prime option for storing your cryptocurrency. Nostalgia wallet was released a couple of years ago and saw its latest GitHub commit made on January 5th of 2017.

Nostalgia light wallet connects to a server, a full node that runs IOTA with PoW enabled. It basically functions as a stripped down version of the IOTA GUI, a browser interface which lets users access full nodes, generate addresses and send transactions in a simplified way. In order to use nostalgia successfully, you need a working full node to connect to. Check out this iotasupport publication for more details about setting your Nostalgia wallet up.

  • Ledger Nano S

Ledger Nano S is a hardware wallet from a French start-up that is designed for users who want increased security. Ledger Nano S supports IOTA tokens since November 2018.

It’s like a USB drive that connects to any USB port and acts as another source of protection. Nano S only starts up when plugged into a computer (or mobile device) because it doesn’t have a battery.

This wallet doesn’t come with an anti-tampering sticker. The reason for that is because its cryptographic procedure checks for integrity of the instrument when powered on.

The Ledger also comes with two side buttons for confirming transactions and an OLED screen. The Nano S comes at a very competitive price ($65) and is the cheapest multi-currency hardware wallet.

When you configure your Ledger as a new device, you have to set up your pin code to secure your wallet. After that, note down your 24-word recovery phrase and store it in a safe place. You can use this recovery phrase anytime to restore your Bitcoins.

With this wallet, you need not worry about the safety of your coins because your private keys are stored offline. You can use the Nano S on any computer, or Android phones with GreenBits or Mycelium.

Pros: Great support, very secure, beginner friendly, competitive price.

Cons: More security = less usability (this is a problem with all cold wallets).

Buy the Ledger Nano S now

  • Other Options

There was one often mentioned third party product called Nelium, but information from the IOTA discord indicates that they didn’t even want to make their code open source for a potential audit.

This project went silent a couple of months ago and have apparently nuked their website as well, only leaving this short airdrop description video which they paid none other than Voiceover Pete to make.

Another popular third party solution is the Atomic Wallet, a product which lets you store your cryptocurrency and at the same time trade it with the help of atomic swaps on one of the two built-in exchanges (Shapeshift and Changelly). This wallet lists IOTA storing/trading as “Coming soon”.

Final thoughts

It would appear that IOTA Foundation themselves have decided to dedicate most of their attention to the Trinity wallet development. The GUI light wallet has been declared as “deprecated” and will not be getting any significant updates anymore (except potentially required critical patches).

There are a couple of third party wallets but the IOTA foundation has rejected any requests to become officially associated to one of them, citing issues with auditing third party code and potential liability issues that come with such associations.

To not get sidetracked too much, if you still decide to look up and use a third party wallet, the foundation advises you to be aware of the following:

  • Never generate your seed online and never submit it to any third party (website or app).
  • If you use a non-official wallet, you use it at your own risk.
  • IOTA is a cryptocurrency (“You are your own bank!“) and nobody can reverse malicious transactions. Even IOTA Foundation does not “own” the Tangle.
  • Should any third party wallet advertise an official IOTA Foundation endorsement, there is no such thing at the time of this writing.

Overall, Trinity is currently the community/foundation approved storage option; while it still suffers from a few minor issues, these should be dealt with by the time the wallet leaves the beta stage of its development. You can use it on your desktop, your mobile phone, or even integrate it with your hardware Ledger Nano S for that extra, cold wallet layer of protection. If you want to store your IOTA cryptocurrency safely, Trinity seems to be your best bet.

Credit to IOTA Discord member CrashTestDummy for providing some of the information used in the “Final thoughts” section.

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New Variant of Ursnif Targeting Japan

Other new developments, according to Cybereason research, include a new stealthy persistence module, a cryptocurrency and disk encryption …

A new variant of the Ursnif trojan has been discovered targeting Japan since the beginning of 2019. Japan is a common target for Ursnif, but the latest version, delivered by Bebloh, goes to increased lengths to ensure that the victim is indeed Japanese.

New variants of Ursnif are not uncommon since the source code was leaked in 2015, but this version also includes enhanced data theft modules for stealing data from mail clients and email credentials stored in browsers. Other new developments, according to Cybereason research, include a new stealthy persistence module, a cryptocurrency and disk encryption module, and an anti-PhishWall (a Japanese security product) module.

The infection chain starts with delivering Bebloh via a weaponized Office document. If activated, a VBA macro in the document first conducts extensive location tests. These tests are expanded and modified over earlier versions, making them more difficult to interpret — but using a technique also seen in a campaign against Italian targets this year.

If the target computer passes the location tests, a PowerShell payload is activated. This includes a final IP geolocation check. It then downloads Bebloh hidden steganographically in an image downloaded from an image sharing website such as imgur or postimage.cc. Bebloh is injected into explorer.exe and it downloads Ursnif’s loader from the C2 server.

The Ursnif loader conducts further tests to ensure that the victim is a genuine user and not a disguised researcher. These include a Xeon CPU check, a virtualization vendor check, and a timing check to force a VM exit. If any of these checks prove positive, the loader displays an error message and terminates the process. But if all is well, Ursnif’s core DLL is injected into the main explorer.exe process.

The payload seems to be Gozi ISFB v3. Its compilation date is February 22, 2019. However, Cybereason has found an earlier sample of the same variant timestamped July 2018, suggesting that the variant first emerged in 2018.

Code analysis suggests that this version is related to the Dreambot variant of Ursnif, but with some features removed and others added. Gone, for example, are the Tor client and the VNC module. New or revamped features include a new last-minute persistence feature (resembling that used by Dridex); new data theft modules to steal from IE, Outlook and Thunderbird; a cryptocurrency and disk encryption software module; and an anti-PhishWall module.

‘Persistence’ is created at the last minute before system shutdown. When the system is rebooted, persistence is activated and Ursnif is re-run. Persistence is then deleted to lower the chance of detection, and only recreated when the system is shut down.

The new variant’s mail stealing functionality has been enhanced and expanded. For example, the Outlook stealer has been enhanced to locate Microsoft Outlookís .PST and .OST file extensions. A new module has been added to steal Thunderbird login credentials and the Thunderbird personal address book. A new Internet Explorer module will steal autocomplete typed URLs and data (including credentials, and the IE browsing history.

It also adds functionality that seems to be designed to steal cryptocurrency from wallets, including the Electrum Bitcoin wallet, Bitcoin wallet, Multibit-hd, Bither Bitcoin wallet, mSigna Bitcoin wallet, Jaxx multi-currency digital wallet, and Bitcoin Armory wallet.

This version of Ursnif also adds some anti-security product capabilities aimed at defeating PhishWall and Rapport. PhishWall is a popular Japanese anti-phishing and anti-banking trojan application, and anti-PhishWall modules have been used by other trojans in the past (such as Shifu and Bebloh).

The anti-Rapport module is designed to defeat IBM Trusteer’s Rapport product. This is not new, but not often seen in malware targeting Japan. The code seems to be based on — if not copy/pasted from — Carberp’s anti-Rapport code (which is freely available on GitHub). Cybereason notes that it has tested neither the PhishWall nor the Rapport module, so cannot attest to their efficiency.

Cybereason is unsurprised by the new concentration on data stealing highlighted by the new version of Ursnif. “With more and more banking customers shifting to mobile banking and the continuous hardening of financial systems,” writes the researcher, “it is not surprising that trojans are beginning to focus more than ever before on harvesting non-financial data that can also be monetized and exploited by the threat actors.”

But what stands out from this campaign, he adds, “is the great effort made by threat actors to target Japanese users. They use multiple checks to verify that the targeted users are Japanese, as opposed to other more prolific trojans and information stealers that cast a wider net when it comes to their victims.”

Related: Ursnif Trojan Uses Fileless Persistence and CAB for Stealthily Data Exfiltration

Related: Banking Trojan “URLZone” Targets Japan

Related: Ursnif Trojan Uses New Malicious Macro Tactics

Related: Popular Banking Trojans Share Loaders

Kevin Townsend is a Senior Contributor at SecurityWeek. He has been writing about high tech issues since before the birth of Microsoft. For the last 15 years he has specialized in information security; and has had many thousands of articles published in dozens of different magazines – from The Times and the Financial Times to current and long-gone computer magazines.

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More Adoption for Ripple’s XRP, Currency Now Available On Binance’s Trust Wallet

The number one cryptocurrency exchange Binance has enhanced its official wallet, Trust Wallet, to enable the purchase of cryptos with credit cards.
Why Banks Will Turn to Ripple And XRP
Cloudbet

The number one cryptocurrency exchange Binance has enhanced its official wallet, Trust Wallet, to enable the purchase of cryptos with credit cards. This mobile wallet will enable the exchange to render better services to customers. Some of the cryptocurrencies that were previously enabled by the wallet are, Bitcoin, Bitcoin Cash, Litecoin, and Ethereum And Now the Exchange has announced that its trust wallet will be fully supporting XRP.

According to the founder, Viktor Radchenko, the Trust Wallet will increase users’ access to crypto and decentralized applications. It will bring an increase to crypto adoption and the free use of money. The exchange is also looking to add more features to the trust wallet.

“We want to increase access to crypto and decentralized applications for all users, Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”

Trust Wallet is an open source decentralized application that supports Ethereum and other 20,000+ Ethereum based tokens. Binance acquired Trust Wallet in July 2018, since then, the team has worked to expand its utility to incorporate multiple cryptos and more decentralized applications.

According to a report from Binance, the Trust Wallet will be a native wallet to its soon to be established exchange, Binance DEX.

This is Binance’s major procurement which shows the importance of using the wallet to increase crypto development in the future.

What’s Your Thought On This ?, Let Us Know In the Comment section Below.


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