CoinText SMS Bitcoin Cash (BCH) Wallet Opens in Brazil and Expands in Europe
CoinText.io is a service that allows users to instantly send crypto to any mobile phone number with the use of text messages. The service recently launched in Brazil and expanded its service to three more nations in Europe. These are Croatia, Poland, and Romania.
According to the founder and CTO of CoinText, those in Brazil have been suffering from the ill effects of poor monetary policies and corruption. He added that crypto would offer them a way to opt out of this corrupt system.
Brazil Needs The Service
Due to corruption and poor monetary policy, the current monetary system seems to work against Brazilians. Brazil is home to about half of the population of South America. It is a nation of almost 208 million people.
The service also added Poland, Romania, and Croatia. According to the founder of the company, this would take the company closer to being able to connect the whole of Europe to this service. He added that by the end of this year, CoinText was aiming to enable all 740 million Europeans to text money to others via their phone for pennies.
CoinText does not rely on any apps, internet, or logins. The services work on any mobile device including, Android, iOS, and even feature phones such as Nokia flip phones. A new wallet is set up when a user receives funds via SMS.
The premise of this service is quite easy. As long as you can send a text, you can send BCH to your friends. You can also spend your BCH in any place where they accept the BCH texts.
How It Works
The users of the CoinText service will control their wallet using a simple SMS command such as BALANCE if they need to view balance. They can also use RECEIVE to view the wallet address. The user can send funds domestically or to a foreign number by texting a command such as SEND $3 PHONE NUMBER. The transaction is instantly settled on BCH. CoinText will never have control over the funds held by users.
To access a wallet, users in Brazil need to send BCH COMECAR to 29000
To access a wallet, users in Poland need to send POCZATEK to 48539585454
To access a wallet, users in Croatia need to send POCETAK to 385951006707
To access a wallet, users in Romania need to send INCEPE to 4037170677
This release will bring the total number of nations connected via CoinText to 29. The service will also come with support for Croatian, Polish, and Romanian for the entire CoinText platform according to the company.
CoinText is a fintech company that makes crypto as easy to use as cash. This service is the first full-featured wallet that does not use an app, passwords, accounts, or the internet. The service is a frictionless onboarding to the crypto world for anyone that can use an SMS. This service is based on a foundation that is created for a full suite of crypto solutions such as streaming money, touchless payment, and IoT.