- CoinText allows BCH hodlers to transact via SMS, without internet or smartphones.
- The Service is now available in 27 countries including Hong Kong and Israel.
- Users are not required to store private keys or register on a crypto exchange to use the service.
CoinText, a bitcoin cash (BCH) payments platform that allows holders of the altcoin to send and receive BCH payments via text messages seamlessly, has announced the launch of its service in Turkey and Argentina, to help citizens circumvent hyperinflation, reported Finance Magnates, on October 15, 2018.
CoinText Making Life Easy for Bitcoin Cash Holders
According to a Finance Magnates report, CoinText, a mobile bitcoin cash payments service is now operating in Argentina and Turkey, helping citizens survive the menace of hyperinflation via BCH.
Citizens of both nations have reportedly turned to bitcoin, and other cryptocurrencies as the wild hyperinflation in the regions have made their local fiat money more volatile than blockchain-based virtual currencies.
With the introduction of its wallet service in Turkey and Argentina, users will now be able to send and receive cryptos through short message service (SMS).
CoinText does not require users to have an internet connection, a smartphone or an account with a cryptocurrency exchange to use its service.
Officially launched in March 2018, CoinText service allows anyone with a mobile phone to send and receive cryptocurrencies via SMS in supported countries.
CoinText is now available in 27 nations across the globe, including Australia, South Africa, Switzerland, Canada, Hong Kong, Isreal and more.
While the CoinText service initially supported only bitcoin cash, the altcoin born from a controversial bitcoin hard fork in August 2017, the startup has however started adding other established cryptocurrencies.
On September 24, 2018, reports emerged that CoinText had launched support for Litecoin (LTC) and Dash (DASH) for users in the United States and Canada.
“CoinText makes sending cryptocurrency as easy as sending a text message. It’s a highly functional tool for communities to spread adoption of their cryptos,” said Vin Armani, CoinText and lead developer, at the time.
Cryptocurrency Helping Nations Conquer Hyperinflation
Despite the super volatile nature of bitcoin and other cryptoassets, more and more nations are joining the blockchain movement in a bid to beat hyperinflation.
Earlier in February 2018, Venezuela launched its oil-backed petro cryptocurrency via a hugely successful initial coin offering (ICO) and authorities have created several use cases for the coin since then.
As reported by Blockchain Reporter on October 9, 2018, Venezuela made it compulsory for citizens to acquire or renew their passports with the petro altcoin.