Bitcoin wallet is a software program where a private key or secret number for every Bitcoin address is saved and stored. The wallet then enables users to send and receive digital money. CoinText is a digital Bitcoin wallet service. It is the first full feature crypto currency wallet that enables instant Bitcoin cash transactions via SMS. It’s an SMS crypto currency platform that allows individuals to send and receive Bitcoin cash via a text message.
CoinText is a game changing crypto solution that supports multi-crypto currency. Other than Bitcoin cash, individuals can also send and receive Litecoin (LTC) and Dash money via text. Furthermore, users can easily send digital money to domestic and foreign mobile phone numbers. That is, to anyone’s phone in the world for less than a penny. Since the service works on all types of phones.
With CoinText, individuals can transact any amount of Bitcoin cash with any phone. Users DO NOT require any internet connection to access the service. In addition, there is NO download of any software or joining an exchange. Also it does not require apps, smartphones, Wi-Fi, accounts and passwords. This is because its SMS based and works with any phone.
The Blockchain payment solution provider is based on SMS commands. It uses very simple commands such as send, receive and balance. In addition, the Bitcoin wallet enables users to easily send Bitcoin cash to a phone number or to a Bitcoin cash address. It’s very easy to text money to each other’s phone. If you can text a message, you can send Bitcoin cash and also spend it anywhere its accepted. CoinText gives a simple alternative to physical cash.
How to set up a Bitcoin wallet with CoinText SMS Bitcoin Cash Wallet
- Text START to CoinText access number for your region
- Add BCH to your address
- Finally, start texting money to any text enabled phone.
CoinText provides an automatic wallet set up. Once a user texts money to a friend’s number with no wallet, a new Bitcoin wallet is created. Hence, no sign ups or registrations to receive the funds.
CoinText does not hold the funds. Once one texts the money, it’s then immediately directly and settled on the Blockchain. CoinText provides a gateway platform for individuals to get access to Bitcoin cash Blockchain.
The Bitcoin wallet provides borderless and instant digital cash via an SMS wallet.
How to transact with CoinText Bitcoin wallet
- To SEND Bitcoin cash to another phone, text “Send $amount your recipient number” to CoinText
- RECEIVE Bitcoin cash, text “receive” to CoinText to get your address.
- Check BALANCE, text “balance” to CoinText.
- To SEND TO ADDRESS, text “Send $amount your recipient Bitcoin cash address ” to CoinText
In order to send Bitcoin cash, CoinText charges a small fee of 10 satoshi. That is five cents. The amount is fixed regardless of the amount of Bitcoin cash moved on the network. Though the fee may differ by region.
How does the SMS Bitcoin wallet works
Well, the SMS wallet uses the user’s country code, area code and the full phone number to generate a new Bitcoin wallet. Once created, CoinText then provides an API server that communicates with a global Tier-1 and SMS gateway provider. Hence, facilitating access to Bitcoin cash network without any internet connections.
The SMS wallet is very secure as the system does not store any information about transactions transacted via the system. Furthermore, it’s very private since once the user deletes the CoinText messages, then no one can know your access to cryptocurrency.
CoinText new feature, BUY, to pay for BitPay invoices via SMS
BitPay is a premier Bitcoin payment processor for goods and services.
The Buy feature enables the CoinText users to shop with Bitcoin cash anywhere BitPay is accepted via SMS.
Hence, the move is aimed at empowering people to spend cryptocurrency. This means that once one understands how to get bitcoins, one can then easily spend it in retail shops via the SMS wallet.
CoinText makes cryptocurrency very easy to use to expand economic freedom around the world. The SMS wallet offers the simplest way to introduce new users to digital currency and opens global market opportunities for the under banked people. This is through the ability to transact digital currency via simple SMS commands without the need of internet or apps.