Users can send and receive BCH balances from their cell phones through text messages, without the need of an internet connection or an App for smart devices.
The service provider company for sending crypto balances, Cointext announced the launch of its Bitcoin Cash wallet in Ukraine and Italy.
This adds up to a total of 35 countries in which it operates officially. Unlike other known wallets, Cointext allows users to send balances in a conventional way. This is through text messages (SMS) to be received by phones without an Internet connection.
Users in the 35 countries where Cointext operates will be able to send balances through SMS.
This is according to the company’s founder and CTO, Vin Armani, indicating that this has been very positive for residents of Ukraine, who have devices with very basic functionality, and added:
“Cointext allows anyone with a cell phone to access cryptocurrencies. Allowing us to take this possibility more than two billion people who do not have smartphones.”
And in relation to the panorama faced by users in Ukraine and Italy, he added:
“Ukraine is experiencing great political instability, and Italy is facing a sovereign debt crisis. Cryptocurrencies provide residents with a way to deal with this type of situation, and Cointext offers tools to make it easier to start using digital currencies ”
Unbanked and low-income sectors
To have a wallet, users simply have to send a text message with the word “Receive” (depending on the language) to the respective access number for each country, with which they can start receiving BCH balances. The service has a series of commands to verify the balances as well as to send funds to other addresses.
The news has been very well received by supporters of Bitcoin Cash, who see this measure as a means to promote the use and adoption of cryptocurrency. More than 1,700 million people who do not access banking services at all. The world, without counting those who can not afford to operate with a smartphone with internet access.
The pioneers in this line of services have been telecommunications companies based in Africa, which have facilitated SMS mechanisms for operating cryptocurrencies for years.
Cointext works in a similar way to Mpesa, and although at the moment it only offers its services in South Africa, an important aspect is that the company has a greater presence in other nations of Europe, South America, and operates in the USA.
Also published on Medium.