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Smartphone with hardware wallet for cryptocurrencies launched at MWC

Just5 CoinPhone comes with built-in hardware wallet and secure cryptocurrency payments functionality

Smartphone with hardware wallet for cryptocurrencies launched at MWC
CoinPhone smartphones want to help make cryptocurrency payments safe and simple.

A mobile phone with a secure inbuilt cryptocurrency wallet has been launched at the Mobile World Congress in Barcelona.

Just5 CoinPhone comes with built-in hardware wallet, secure authentication environment and cryptocurrency payments functionality.  

Cryptocurrencies are becoming an integral part of our everyday lives. According to blockchain.info, nine million wallets were downloaded in 2016, reaching 17 million in 2017. Decentralisation, absence of middlemen, and migration of services to mobile devices are global tendencies today. Adherents aim to make payments with cryptocurrencies as easy and safe as bank card transactions.

The age of average smartphones and banks is over, believes Mikhail Nikolaev, the founder of Just5, the phone manufacturers. Quite soon software for cryptocurrency payments will become just as regular function for phones, as MP3 players are today. Currently, the safest means for cryptocurrency transactions is a cold wallet that cannot work without a laptop. However, in this scheme, the device is just another intermediary and the very essence of blockchain is getting rid of intermediaries. CoinPhone smartphones wants to help users discard unnecessary devices and make cryptocurrency payments simple.

CoinPhone is developed jointly by Latvian smartphone brand Just5 and the cryptocurrency platform CoinPlace.

CoinPlace is a multi-currency P2P platform for digital assets. The over-the-counter site provides a platform for trading of Bitcoin, Etherium, and CPL token with plans to include five more currencies, Bitcoin Cash, Litecoin, Etherium Classic, Dash and Tether by the middle of this year.

CoinPhone smartphones will have pre-installed CoinPlace wallets allowing the user to safely store several most popular cryptocurrencies. They will also have integrated NFC system based on Google Pay and the CoinPlace platform.

The phone consists of two parts: the smartphone itself and a cold wallet that may have several security levels. Just5 line of smartphones, Coinphone Lite, Coinphone Pro, Coinphone Pro Note, come with 5.5 to 6.2 displays and up to IP68 protection level (including impact and water resistance). The phones will be equipped with a fingerprints scanner, face ID, NFC tag for contactless payments, and special security software requiring the approval of the user for sending out any data. When connected to a laptop or a PC, the phone can serve as a cold wallet.

The basic version of CoinPhine will cost 99 EUR, and the top range selling for approximately 499 EUR. Its international availability is scheduled for late 2018. 

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