Through a Medium post, US-based cryptocurrency and telecommunications company, Telx Technologies has announced the launch of first of its kind crypto-facilitating sim card. This sim card enables crypto transactions through SMS.
In the post, the company claims that the sim card facilitates the users to send cryptocurrencies through SMS, powered by the dedicated crypto phone numbers they are using. There are two points which are to be taken note of. First of all, carrying out these transactions does not need a smartphone or an active internet connection or the presence of an application. Secondly, the service does not provide any control over the user’s crypto wallet.
What Advantages Does Telx Offer Through its Latest Innovation?
Tex Technologies pointed out several benefits of the crypto-facilitating sim card that it has recently launched.
- Global and Free
Taking on a global outlook, Telx sim cards work in more than 180 countries. Another important aspect of this service is its capability of working on a basic phone and hence it is not limited to smartphones. The messages offered by Telx are unlimited and it claims that no caps whatsoever are put on the number of messages a user sends and receives.
The Telx sim card is designed as such that the phone number acts as a digital currency address. Hence, it reduces the task of dealing with long wallet addresses. Notably, one can send an SMS to any phone number, irrespective of their being a Telx customer or a non-Telx customer.
The currencies supported by the service include Bitcoin, Litecoin, Dash, Zcash, and Bitcoin Cash.
The Telx phone number cannot undergo porting and SIM swapping is not allowed. All the transactions that take place are protected by a PIN chosen by the users. For cases of loss and theft, backup keys are provided to the users after activation.
In another series of events US Federal Reserve, too, has plans to launch its real-time payment and settlement service.