September 18, 2022
Samsung Cryptocurrency Exchange Platform, YT Trending - Latest Technology News

Frist I’ll go over what cryptocurrency is. Cryptocurrency — also known as crypto — is a digital currency designed to work as a medium of exchange. Cryptocurrency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use crypto currencies, you need a crypto currency wallet. Crypto currencies don’t have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units. Here are Few Best Cryptocurrency

  • Bitcoin (BTC)
  • Ether (ETH)
  • Solana (SOL)
  • Avalanche (AVAX)
  • Binance Coin (BNB)
  • Tron (TRX)
  • Cosmos (ATOM)

Samsung is developing its cryptocurrency exchange in response to new legislation favourable to the crypto currency industry in South Korea. It is scheduled to launch in the first half of 2023. Samsung may also create its own crypto currency.

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Samsung is getting ready to take crypto currency a little more seriously. In the first half of 2023, the South Korean giant will launch its own crypto currency exchange platform. Teams from Samsung Securities are working on the development of such a service, which will, of course, be based on block chain technology.

While Samsung has been planning to enter the crypto currency sector for some time, Yoon Suk-yeol, South Korea’s new president since May 2022, has encouraged Samsung (and other South Korean tech companies) to accelerate their investments. The leader promotes crypto currency investment to businesses and individuals. Even raising the minimum taxable income on crypto gains to encourage tax residents to participate.

Samsung Cryptocurrency Exchange Platform, YT Trending - Latest Technology News

Large South Korean corporations plan to launch a cryptocurrency exchange platform in the first half of next year.

It’s also a good time for Samsung to launch a crypto exchange because the former South Korean administration shut down dozens of platforms in 2021 through a regulatory law that drastically increased the requirements and obligations required to open such a service in the country. Thus, Samsung could fill the void left by the sudden disappearance of all these players.

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As early as 2019, the company provided a secure cryptocurrency wallet on its high-end smartphone models. Recently, a new version of Samsung Wallet was released, focusing entirely on security and blockchain. And that’s not all; there are rumours that Samsung may even want to create its own cryptocurrency. However, it is unknown whether it will be ready for the launch of its exchange platform.

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