Crypto Users In Hong Kong Trade BTC Over Mobile SMS

After Israel and the Palestinian territories, Hong Kong has become the next region to provide a service that enables cryptocurrency users to send Bitcoin or BCH money via mobile text messages (SMS).

The service does not require Internet connection, apps or registering an account, meaning that all transactions are executed instantly. Vin Armani, founder and lead developer of the cryptocurrency service and wallet said:

“These are important regions for us to connect because they’re financial centers, and Cointext gives them a simple alternative to physical cash.”

Back To Basics

With simple commands such as BALANCE, RECEIVE and SEND, users can now access their wallets much faster, since there are also no passwords involved. The wallet that launched in March 2018 is already very successful in the U.S., Canada, South Africa, Switzerland, Sweden, Netherlands, and the UK...

Since messaging settings are set to English by default, both Hong Kong and Israel will have to wait for a release with additional language support for Chinese and Hebrew.

However, after adding six new countries on October 1st, including Germany, France, Austria, Portugal, Estonia and Czech Republic, the company has now successfully expanded into East Asia and announced that further locations will be added soon.

Residents in the 25 countries can access the mobile BTC wallet by texting the word START to their respective numbers.

Reaching Billion Users Before 2019

According to the service, cryptocurrency should mainly be used to expand economic freedom all around the world. Luckily, the new technologies have created a lot of potential for safe digital currency transactions even without the Internet, apps, or further “complicated” processes.

Therefore, using the simplest way to trade cryptocurrencies such as BCH and being a part of the global market is now a reality for billions of ‘underbanked people.’ Since there is no need to use a smartphone, everyone can become a customer and consequently a cryptocurrency investor.

The company is planning to reach at least one billion clients in 54 nations by the end of 2018, allowing them to receive and send virtual assets in their own language and local currency...

What is your opinion on sending crypto without the Internet? Feel free to comment below.

Source:

“Mobile SMS Bitcoin Cash Wallet Cointext Expands to Asia”, Avi Mizrahi, bitcoin.com, October 8, 2018.