Coinapult Launches Bitcoin by SMS Service: “Use the Currency of the Internet without the Internet”

Coinapult  its bitcoin-by-SMS feature, allowing users to send bitcoins with a regular cellphone. Smartphones, data plans and internet access are not required, with Coinapult branding the feature: “Use the currency of the internet without the internet.”

According to its , the company offers a Bitcoin wallet with enterprise-grade security. Its “lock” offering shelters bitcoin holders from price volatility by locking holdings “to stable assets like Gold or USD.”

The latest launch can help bring Bitcoin and, by extension, financial flexibility to billions of the world’s un-banked–in a sense, more so than with a mobile app. It can be analogized to M-Pesa, a service launched by Vodafone allowing users to transfer money via SMS on mobile networks. Commenters on the announcement debated how bitcoin-by-SMS and M-Peso stack up when it comes to security, particularly from man-in-the-middle (MITM) attacks.

Other Bitcoin businesses offering such functionality include and .

Two months ago,  $775,000 in venture funding from investors, including FirstMark Capital.

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