Send Bitcoin Cash without Internet, CoinText sends BCH by SMS
Even people without a smartphone can send or receive BCH from anywhere in the world if they have access to international messaging.
CoinText announced the launch of its new wallet that works through the text messaging service (SMS) and allows users to send and receive Bitcoin Cash (BCH) without the Internet using simple text commands.
Most wallets require downloading an application on a smartphone or signing up for an exchange, storing passwords or private keys securely, setting up two-factor authentication and a host of other challenges that are complex for novices.
CoinText does not require any of that. All you have to do is send a text message with the word CASH to the CoinText phone number for your region and the CoinText key sends the BCH to your phone. Even if you use a basic phone (not smart).
"Being able to make transactions with an international currency such as Bitcoin Cash through a text message with any phone in the world will reveal a huge economic potential for the unbanked," said CoinText's lead developer, Vin Armani.
The mobile money service M-Pesa in Kenya processed nearly six billion mostly SMS transactions in 2016 with 29.5 million active customers. CoinText uses a similar technology, but takes advantage of Bitcoin Cash's Blockchain security to offer global financing to anyone with a mobile phone.
Users of the Beta version in the United States, Canada, the United Kingdom and Australia will receive USD $ 1 in free BCH to test the wallet. You can add to those funds by sending a deposit text message to CoinText.
New users will automatically receive a Bitcoin Cash wallet assigned to their phone when someone sends them BCH through CoinText, or when they send a text with a valid command to the CoinText phone number. CoinText never has funds and all transactions are settled directly in the chain. Said Armani:
"It's exciting, establishing transactions directly in the chain allowsus to build so many simple useful tools, this SMS wallet is just the beginning"
The wallet executes basic commands such as BALANCE, RECEIVE and SEND. If you send text messages with the word HELP it will reveal the commands in more detail.
For example, users who send a text message with the word Balance to the CoinText number will get an immediate response with the dollar value and the balance in Bitcoin Cash in their CoinText wallet.
The countries whose local numbers are available, for now, are the following: United States, Canada, United Kingdom, Australia, the Netherlands, South Africa, Switzerland and Sweden.
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