CoinText started offering its service to transact Bitcoin Cash (BCH) using SMS messages in Turkey and Argentina. There is a sharp rise in the popularity of cryptocurrency in these countries due to dire economic conditions in the market. CoinText enables the user to send money to mobile phone numbers or BCH wallets. It is very convenient as it does not require any internet, apps, accounts or passwords.
This service is user-friendly and is available on all types of phones including iPhone, Samsung and Nokia. If the phone can send and receive messages then one can use CoinText.
The concept of cryptocurrency is surging in the market as the economic condition is deteriorating. The depleting condition of the economy has boosted the use of cryptocurrencies like Bitcoin. Many economists cite the two countries as examples of the folly of excessive control over the economy. Due to the inflation rate being high in these two countries, cryptocurrency is penetrating all markets. The recent example being the SMS-based Bitcoin Cash wallet service that launched on 15th October 2018.
“Bitcoin is better money,” Vin Armani, founder and chief technology officer of CoinText, said in an online statement. “Many Turks and Argentinians already understand this due to high inflation. We are excited to provide tools to help them use cryptocurrency.” as reported in Bitcoin News.
CoinText users can control their wallets and send Bitcoin Cash with just a tap. Simple SMS commands will enable the user to check their Balance and to send money other wallet addresses. Users can send funds to domestic or foreign mobile phone numbers by texting commands like SEND $1 PHONE NUMBER. After entering a 2FA code, transactions are instantly settled on the Bitcoin Cash (BCH) blockchain, according to Crypto Ninjas. Overall, the concept of cryptocurrency is soaring and penetrating all the markets irrespective of its volatility.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]