Cryptocurrency and telecommunications company, Telx Technologies, announced the launch of the first-ever crypto SIM card. The SIM card makes it possible for users to make crypto payments via SMS using a crypto phone number.
The project allows users to send cryptocurrencies internationally without the need for a smartphone or internet connection. However, the system also offers no control over users’ crypto wallet.
The post by Telx says:
“At Telx, our goal is to make transacting digital currency as easy and accessible as possible. Therefore, we are creating solutions that technical and non-technical people alike can adopt. We believe there is tremendous synergy between payments and messaging.”
Features of the tech
The company also shared the features of the project, saying that it has no restriction on the number of SMS messages that can be sent and received monthly. It supports Bitcoin (BTC), Litecoin (LTC), DASH, Zcash (ZEC) and Bitcoin Cash (BCH). The crypto SIM card is available in over 180 countries.
The Telx phone number also acts as a digital currency address, it just requires sending an SMS to any phone number whether they are a Telx customer or not.
To ensure security, there are no SIM swapping or phone number porting. It only accepts transactions from users SIM, while a user-chosen PIN protects outgoing transactions. It also provides backup keys after activation in case of loss or theft.
Interested users can also place an order on the Telx website.
Partnership with Bitgo
Telx also announced its agreement with Bitgo as a partner and the wallet services company. Therefore, there will be a 0.10% fee imposed on all transactions.
CEO and founder of Telx, Mark Penovisch also commented. He said; “Our goal is to natively embed P2P transactions into the world’s most used communication method, SMS messaging.”
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