When we say that cryptocurrency and blockchain are taking over the world, we mean each and every sector. According to a 2024 report by Chainalysis, India is leading in the adoption of crypto, with various sectors like finance, supply chain, healthcare, and real estate, among others leading the way.
Now, another sector is massively embracing the use of cryptocurrency massively, making lives even much easier. This is the area of smartphones. In recent years, there has been a huge emergence of crypto-centric phones, making it easier for users to navigate between working with their digital assets and enjoying their day-to-day mobile experiences.
Just imagine you are able to keep track of Bitcoin price without having to download an extra application or go to the web. Forget applications that are not optimised for mobile phones; here, you have a mobile phone that offers a streamlined and intuitive experience for managing your tokens and dApps and participating in other blockchain functions.
The rise of crypto phones
The beginning of crypto phones was seen a few years ago, with the first phone appearing in 2018. They are phones that have been integrated with Web3 connectivity, making it easier to access the decentralized web.
You see, it’s not been easy to work out mobile Web3 apps despite recent improvements. Despite there being major improvements, most users still prefer the desktop versions since they’re more user friendly. Crypto enthusiasts still feel like these mobile Web3 apps are still too complex and do not have an intuitive design. To add on, blockchain technology is moving too fast, and it has become quite tricky for smartphone manufacturers to keep up.
However, after much trial and error, 2023 saw people being able to work Web3 into pockets. Actually, the market for these phones has really gone up at a rapid pace. A 2023 report by Market Research Future estimated the market value to be approximately 3.78 USD billion. The report continues to explain that at a CAGR of 33.23% between 2024 and 2032, the market might rise to 50.0 USD billion in 2032.
But someone would really be wondering. Why are these phones becoming so popular? Do they have any advantage over normal smartphones, or is it just a fuss? Let’s try to unveil a few things.
The integration of the ecosystem
The most obvious advantage that crypto-centric phones have is the fact that they are designed to integrate seamlessly with the underlying blockchain networks and ecosystems. This integration allows the users to access dApps without sharing sensitive information with third parties.
For example, the Solana Saga is a prime example of this current trend. It has been designed specifically to cater to the needs of the Solana ecosystem. The phone actually leverages the high performance of the blockchain to:
- Engage with Solana-based decentralised applications
- Participate in the ecosystem
- Manage SOL with ease
Solana will also be launching the Solana Saga Chapter 2 in the first half of 2025, with the company stating that the product will make crypto products and services even more accessible.
Unparalleled security
Just as blockchain technology is focused on security, crypto-based phones are focused on security and user privacy. These devices have been built with advanced software and hardware functionalities to ensure that user data is kept safe and communication channels encrypted.
For example, GSMK CryptoPhones have a patented firewall that is able to detect and counter-attack, all on the baseband processor. Other phones have hardened OS, FIPS 140-2 and AES-256 encrypted. All this goes just to show that crypto phones are the new front for security.
An interesting thing about these phones is that their installed operating systems are made in a way that they can disable GPS localisation, Google services, Bluetooth, camera and even the USB port (which only remains active when charging the phone). They also have multi-level encryption for phone calls and messaging services. This includes:
- Diffie-Hellman encryption
- Elliptic curve
- PGP for emails
- OTR for chats
- ZRTP for making encrypted calls over the internet.
If you ever wanted security, then crypto phones are what you should be looking for.
Seamless crypto management
Of course, this had to be a major advantage. These phones provide a dedicated interface for managing your digital assets, including being able to manage your private keys. For instance, Solana’s Seeker is built with the Seed Vault custody solution, a secure digital wallet that allows users to store Solana’s digital currencies with ease. Why should you look for multiple devices whereas you can do your daily activities while safe-keeping your tokens all at once?
Are crypto smartphones the future?
The rise of crypto smartphones has revolutionised how we view smartphones by offering endless possibilities. But are they secure enough to replace traditional wallets?
Well, it is very tempting to want to have all functions under one device but also, the risks that come with it cannot be ignored. What if you lose your phone or it is stolen? Could you lose your entire crypto portfolio? You know, traditional hardware is highly trusted because of its offline security, disconnecting it fully from any potential online threat. What if hackers find a loophole in this new tech?
But even if companies will work to store sensitive data separately from the main memory, is it really worth it? Are users ready to put all their trust in a normal smartphone that they carry to work every day?
Wrapping up
With crypto and blockchain taking over the world, the smartphone market is starting to catch the fire. Within the next few years, we’ll get to know whether crypto smartphones are a good idea or whether people should stick to the traditional way of storing their tokens.
