Tech

Huawei Pre-Installing Bitcoin Wallets on New Phones

Huawei Pre-Installing Bitcoin Wallets on New Phones

The launch of BTC.com, which has transacted billions of United States dollars worth of BTC and BCH over the past few years, on Huawei paves the way for many Chinese smartphone owners to gain first-time access to a mobile bitcoin wallet. It will be accessible via its phones' AppGallery - which is pre-installed on all new Huawei and Honor phones, will begin to appear as older devices update over the coming months.

The Shenzhen-based company has reportedly teamed up with BTC.com to add the firm's bitcoin wallet to AppGallery.

According to De la Torre, "It's a good opportunity to tap into the Chinese market". The information has been released by Alejandro de la Torre, Vice President of Business Operations at BTC.com, during a phone interview with Bloomberg.

That said, the effort to boost cryptocurrency wallet support is still a notable move by Huawei, and is likely to open up cryptocurrency services to a potentially huge user base.

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It assists users in making the most out of digital currencies by providing secure online tools. With more than 95% of internet users in China using their mobile devices to access the internet (eMarketer), BTC.com and Huawei are providing a natural bridge to onboard millions of new Chinese cryptocurrency users. But the government has taken a hard line on the cryptocurrency industry, as evidenced by its banning of initial coin offerings (ICOs) and local bitcoin exchanges from operating in the mainland, not to mention its crackdown on bitcoin mining, which is a feature on the BTC.com platform.

Owned and controlled by the mining hardware manufacturer Bitmain Technologies, the BTC.com is also estimated to control the world's largest bitcoin mining pool. With Huawei set to provide said wallet to nearly all of its users, lack of exposure will no longer be a problem. "We expect to see massive growth in global cryptocurrency adoption habits in the near future", said Dr. Jaime Gonzalo, vice president of Huawei Mobile Services. The company is now committed to providing Bitcoin Wallets on all their new smartphones.

However, access to Google Play Store as well as some parts of iTunes are blocked by the Chinese government and thus downloading apps from the likes of BTC.com is limited.