Telx announce a great new concept that lets you send cryptocurrencies via a text message
|Telx Technologies has launched a SIM card which can be used to send cryptocurrencies payments via SMS. The agenda behind the project is to let people send money internationally without the need for a smartphone, even an Internet connection. According to the telecommunications firm, its launch will be the world’s first such SIM card used for this purpose.
The company seems to be targeting the non-tech savvy audience as you do not need a wallet to store the crypto. It plans to launch in 180 countries and will support transactions in Bitcoin, Litecoin, Dash, Zcash, and Bitcoin Cash.
Instead of using a wallet addresses, the solution is to use a phone number to identify the people involved in a transaction.
Telx has agreed to use Bitgo as a partner and the wallet services company will impose a 0.10% fee on all transactions.
Founder and CEO Mark Penovisch had this to say about the launch, “Our goal at Telx is to natively embed peer to peer transactions into the world’s most widely used communication method, SMS messaging.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.