Argentina and Turkey are now able to send and receive Bitcoin Cash without using the internet. The company CoinText.io has decided to launch a new service in these two markets. Users are able to use Bitcoin Cash via SMS rather than with a wallet connected to the internet. The information has been released by the company a few days ago.
CoinText.io Expands to Argentina and Turkey
Users in Argentina and Turkey will now be able to send and receive Bitcoin Cash (BCH) using SMS messaging. In both countries, there has been increased volatility in their economies. Additionally, the Turkish lira (TRY) and the Argentine peso (ARS) have lost between 40% and 60% of their value. At the same time, both economies are experiencing high inflation rates.
Because of this situation, individuals in both countries are starting to buy virtual currencies. According to CoinDance, both countries have registered an increased number of BTC transacted in the last weeks.
Vin Armani, CoinText founder and CTO, said that Bitcoin is a better kind of money. Additionally, he mentioned that Argentinians and Turks know what high inflation is and how it affects their lives.
“Bitcoin is better money,” he said. “Many Turks and Argentinians already understand this due to high inflation. We are excited to provide tools to help them use cryptocurrency.”
Bitcoin Cash follows the philosophy of being electronic money. Users do not have to create accounts or download a specific wallet, which is very positive for spreading adoption. Telephones that are able to send and receive SMS messages with a telecom service can use CoinText.
Armani commented about this situation:
“Before CoinText, you had to download a software wallet or join an exchange to get your first cryptocurrency. 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 is a fintech company that aims at improving the way in which cryptocurrencies work. The services that the company offers would help cryptocurrencies to expand to non-tech savvy people. Other services provided by the company are related to touchless payments, streaming money and Internet of Things (IoT).
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.