BitSIM is a small, dual-chip overlay that is physically placed atop a phone’s regular SIM card. Once there, the BitSIM turns that phone – even if it’s a “dumb” phone – into a Bitcoin wallet.
It does so by submitting transactions to the Bitcoin network as encrypted text messages. The phone owner’s private key – stored in the BitSIM overlay – is unlocked with a PIN. Founder Leon-Gerard Vandenberg says that BitSIM “interposes SIM commands […]
