Cointext Launched SMS Crypto Wallets For Users In 33 Countries

CoinText platform that allows users to send and recieve cryptocurrencies without a smartphone or the Internet, using SMS, has been launched in Taiwan, Hungary, Estonia, Puerto Rico and Slovenia, opening access to users in 33 countries.

Startup CoinText has launched SMS crypto-wallets for altcoins in several countries. According to a press release, residents of Taiwan, Slovenia, Hungary, and Puerto Rico can now also receive and send alt-coins, simply by typing text commands on any mobile phone, naturally for a commission.

While other crypto wallets require either the installation of special SOFTWARE or registration, the competitive advantage of CoinText is that these barriers are absent, the company’s representative notes. The Context team emphasizes that even with the oldest mobile phone, anyone can easily send and receive supported altcoins, including Litecoin, Dash, and Bitcoin Cash.

Of course, sending cryptocurrencies without Internet limits the choice of cryptocurrencies, while the service cannot offer the exchange of major cryptocurrencies, BTC and ETH. However, in developing countries, where access to the Internet and a smartphone is rather a luxury, such a service can seriously contribute to the recognition of cryptocurrencies.

The huge potential of electronic financial services is also evidenced by the great success in the African land of mobile payments, such as M-Pesa, mobile money transfer service, as well as Safaricom and Vodacom — services for micropayments.