With the emergence of new messenger services, the good old SMS seems to be gradually losing its importance. However, CoinText gives the Short Message Service a new meaning: sending crypto currencies via SMS. The demand seems to be quite good, as the crypto company is constantly expanding.
The crypto company CoinText has set itself the goal, which at first seems truly absurd: to send crypto currencies completely without Internet and apps. Instead, Bitcoin cash is to change hands via SMS. The company wants to make it possible for people who do not have Internet or bank access to participate in the crypto world.
BCH by SMS
CoinText explains the project’s claim on the company’s website:
“The ability to manage digital currencies without the Internet, apps, accounts or complicated addresses is the easiest way to introduce new users to the crypto currency and opens up global market opportunities for billions of people without access to banks.
The process is very simple. Users can set up a wallet by sending START to the CoinText number assigned to their region. Once they have added their BCH to the wallet, they can send it to a friend’s phone number. However, the recipient does not need his or her own wallet for this.
The development in Europe
So far, the crypto SMS service has been available in 25 countries. On 22 October, CoinText announced in a press release that BCH can now also be sent in Croatia, Romania, Poland and Brazil. The choice of these countries was not accidental. As CoinText founder and CTO Vin Armani explained, the expansion into the (Southern) Eastern European countries will ensure that the development of the entire European continent will come closer. The addition of Brazil even pursues political goals, as Armani explains further:
“The Brazilians are suffering from corruption and poor monetary policy. Crypto currencies offer them the opportunity to say goodbye peacefully to a corrupt system”.
Only last week CoinText started offering its services in Argentina and Turkey. At this rate of expansion, the company’s ambitious goal no longer seems so far-fetched:
“CoinText’s goal is to enable all 740 million European citizens to send money to each other’s phones for pennies by the end of the year.”