CoinText Expanding Operations Encouraging Users to Use BCH
Crypto payment platform CoinText has plans to make spending BCH easier for users. The text-messaging service has plans of expanding to various countries, including Brazil, Romania, Poland, and also Croatia, in hopes of encouraging more customers to trade in BCH. Users will be able to make transactions in BCH via text messaging and commands using SMS.
An Internet connection is not essential for users of CoinText, as the service should allow them to transfer cryptos and also access their funds offline by sending a simple text message or by SMS commands.
Founder and CTO of CoinText, Vin Armani, stated that including Romania, Croatia, and Poland to their operations help to bring together countries in Europe. The organization’s main aim is to have all 740 million citizens on the European continent using the service of texting funds to mobile devices for the cost of mere pennies by the end of the year.
Easy BCH Texts
CoinText further mentioned on their website how customers will be able to use the service, as they are required to generate a new cryptocurrency digital wallet by texting the word “START” to the platform’s access number belonging to the region they are in. After activation, the user needs to have the cryptocurrency added to their address and then they will be able to text funds to any mobile device or use the currency to purchase any BCH-based payments.
Operations for CoinText have also recently been expanded to both Turkey and Argentina as their economies are currently deteriorating because of weak monetary regulations and complicated politics.
Armani further commented on the issues Turkish citizens are currently facing, which are partially caused by an increase in tariffs by the Trump administration in the US, on the country’s export activities. He said that BTC is a better alternative to regular fiat currencies in these nations because it will help tackle the problem of elevated inflation rates.
Crypto Industry Booming as Economies Suffer
Venezuela is now going through an economic crisis considered to be one of the worst in recent history. The use of cryptocurrencies, especially BTC, in the country has increased massively because the local currency has basically no value due to hyperinflation. The president of Venezuela, Nicolas Maduro, and the local government have authorized the use of 6 local crypto exchange platforms to back-up the disputed local cryptocurrency XPD.
It is being reported that the XPD is not currently being used for Txs in the country; however, the number of Venezuelan citizens using other cryptos more often for their day-to-day purchases and business transactions is continually increasing.