CoinText Expands Reach To Europe And South America

A blockchain-based fintech company that champions cryptocurrency adoption, CoinText, announced Monday that it has brought more countries into its fold. CoinText, which is popular for mobile transfer of cryptocurrency via text messages, disclosed that it now covers four countries on two continents. Specifically, the company is saying that it now has operational presence in Brazil, Poland, Romania, and Croatia.

Admittedly, the firm chose these countries due to a certain edge they have over their neighbors on the same continent. For instance, Brazil has a population of 208 million making it one of the most populated countries in the world.

How CoinText Works

To its credit, CoinText doesn’t require any login, apps, or even the Internet to work. Also, it works on a wide range of platforms, including iOS, Android, and surprisingly, old Nokia flip phones. Whenever people receive funds over SMS, a new wallet is automatically set up.

With simple SMS commands, CoinText users control their wallets. The basic commands include BALANCE for checking the balance. There is also RECEIVE to display a user’s wallet address. Similarly, the SEND command enables the user to send funds to domestic and foreign phone numbers. Whenever a user initiates such requests, the instruction goes to the BCH blockchain, where all transactions are settled. It is pertinent to note that CoinText doesn’t hold any cryptocurrencies.

Getting the Wallet

The company has rolled out some guidelines for performing certain operations, starting with getting a wallet. To perform simple transactions, a user may input the following commands into their mobile phones.

• To get a wallet, users in Brazil have to text BCH COMECAR to 29000
• For the CoinText users in Poland, they can text POCZATEK to 48539585454 to get a wallet
• Croatia is not left out. They can get a the wallet by texting POCETAK to 38591006707
• Last, but certainly not least, interested CoinText users in Romania can also get their wallets through SMS by sending INCEPE to 4037170677.

CoinText Is on a Mission

The company is expanding its reach, going beyond geographical boundaries. The inclusion of these countries brings the total number countries connected to its network to twenty-nine. Apart from expanding its reach, CoinText also supports Polish, Romanian, and Croatian languages.

By adding the three European countries, Vin Armani, the CoinText founder and CTO, believes that the company is closer to linking the whole of Europe. Armani said that the company aims to empower 740 million European residents to text money to each other at very cheap rates before the end of 2018. Also, Armani pointed out that Brazil has been grappling with systemic corruption and nonviable monetary policy, asserting that cryptocurrency is the way out of the crisis.

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