Bitcoin Cash SMS Wallet CoinText Expands To Brazil And Three European Countries

Announcements, News | October 23, 2018 By:

Crypto wallet CoinText has expanded its SMS Bitcoin Cash wallet service in Brazil and three European markets.

CoinText is a for-purpose project to make cryptocurrency easy to use to expand economic freedom around the world. It allows users to transact digital currency without Internet, apps, accounts or complicated addresses, and works on all types of mobile phones. It features a full suite of tools for merchants and charities, including touchless payments and streaming money. It also offers solutions for Internet of Things (IoT), such as smartlocks and vending. The platform currently supports Bitcoin Cash (BCH).

The service is now available to residents of Brazil, which is home to about half the population of South America with about 208 million people. While the country’s crypto regulatory landscape remains messy, recent surveys showed that more people are opening crypto trading accounts than traditional brokerage accounts. In 2016, Brazilians moved $160 million in and out of bitcoin. In 2017, that number was up to around $2.4 billion.

“Brazilians have been suffering from corruption and bad monetary policy,” said CoinText founder and CTO Vin Armani. “Cryptocurrency offers a way for them to peacefully opt out of a corrupt system.”

The Cointext wallet can be controlled with simple text commands, such as Balance, Deposit, ‎Send, and Withdraw. Users can send funds to domestic and foreign mobile phone numbers. By simply entering a 2FA code, individuals can ensure that their transactions are quickly settled on the BCH blockchain.

The service will also be available in Poland, Croatia and Romania, bringing the the total number of countries to 29.

“Adding Poland, Croatia and Romania brings us closer to connecting the entire continent of Europe,” said Armani. “CoinText’s end-of-year goal is to enable all 740 million European residents to text money to each other’s phones for pennies.”