CoinText.io Launches In Turkey And Argentina

The cryptocurrency platform service that enables users to transact Bitcoin Cash (BCH) using SMS messages, CoinText.io, has announced its launch in Turkey and Argentina.

Both nations are fast becoming big cryptocurrency markets as their fiat currencies continue to experience volatility.

With CoinText citizens in these nations are able to send money to mobile phone numbers or BCH addresses without Internet, apps, accounts or passwords. An amazingly easy way to get people to buy into cryptocurrency.

How CoinText Works

CoinText works on any type of mobile phone including iPhone, Samsung, and even old Nokia flip phones. Put simply, if a user’s mobile can send and receive SMS messages then they can use CoinText.

“Bitcoin is better money,” explained CoinText founder and CTO Vin Armani. “Many Turks and Argentinians already understand this due to high inflation. We are excited to provide tools to help them use cryptocurrency.”

CoinText is coming at a time when the Argentine peso and Turkish lira have experienced the largest declines in their exchange rate with the US dollar in 2018.

The peso has lost nearly 60% and the lira lost 40% against the dollar this year.

“Before CoinText, you had to download a software wallet or join an exchange to get your first cryptocurrency,” Armani added. “And to onboard your friends, you had to convince them to do the same process. Now you can just text money to their phone.”

CoinText users control their wallet with simple SMS commands like BALANCE to see their balance and RECEIVE to display their wallet address.

Users can send funds to domestic or foreign mobile phone numbers by texting commands like SEND $1 PHONENUMBER. After entering a 2FA code, transactions are instantly settled on the Bitcoin Cash (BCH) blockchain.