What is Saga, the crypto phone?

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Since the introduction of the iPhone in 2007, the world has gone mobile. There are phones with great cameras, phones that survive even construction work, phones with large screens... and now there also is a crypto phone.

Announced by the makers of Solana, the popular blockchain, the phone goes by the name of Saga and is purpose-built to make crypto easier and safer on phones.

At first, it looks like any other higher-end Android smartphone: Big display, fast hardware, and all the features you'd expect.

But it also comes with a feature that makes it safer for crypto users: A special hardware component can securely store your crypto keys and guard access to those. In theory, creating a hardware store like this will provide an extra layer of security that is very hard to breach as a hacker.

But before you get too excited, here are a few things to consider: The phone isn't shipping until at least early 2023, and it's not uncommon for projects like these to be announced under a lot of fanfare, only to quietly die.

It's also very expensive, costing $1000 dollars.

And then there is always the elephant in the room: What happens to your crypto if the phone gets destroyed or stolen, and with it your keys? We'll hold our breath on that one until the makers explain it in more depth.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.