CoinText Extends SMS Payment Service to Litecoin (LTC), Dash (DASH)
The service, which first served to popularize Bitcoin Cash (BCH), now extends to additional coins.
CoinText has announced its readiness to add Litecoin (LTC) and Dash (DASH) to its SMS service, offering small payments without the need for a bank account, a crypto wallet or verification. CoinText allows for microtransactions and has been touted as one of the avenues to popularize Bitcoin Cash (BCH), the first payment mechanism for the coin.
CoinText tweeted the update:
Both Litecoin and Dash attempt to position themselves as coins for everyday spending, and are generally well-accepted by merchants. However, the launch for the two coins would be limited to Canada and the US, while BCH spending as cash is available in 20 countries already.
For Dash, the limitation means that one of its chief target markets, Venezuela, will not be accessible through the CoinText technology. However, Dash is making other attempts to appeal to the Venezuelan community.
The SMS service is available for anyone with a phone number or a cryptocurrency wallet. CoinText has been working with BCH since March, continuously marketing the coin.
"Ultimately, we want to empower people to use cryptocurrency as cash," said Vin Armani, the product’s founder.
However, the addition of Litecoin is somewhat paradoxical, given its open competition with the Bitcoin Cash project as an attempt to place itself as the better digital asset. As for Dash, the project is known for its active marketing since inception, and the attempt to position itself as the digital bank account alternative, with the simplest possible payments.
The Dash project aims to launch the Evolution release, allowing for intuitive addresses similar to the Venmo app, instead of the long hexadecimal wallet addresses.
For Litecoin, the most active bid to accessibility and speed is to build a Lightning Network, similar to Bitcoin. However, the usage of LN is subject to more tests, and the quality and security depends on node availability.
LTC spiked over the past our, reaching as much as $63.17 as at 12:49 UTC, up from around $58 on Wednesday. DASH is back down to $188, up 0.7% on a daily basis.