Amid the bull run in the cryptocurrency industry is good news for Bitcoin Cash. Yesterday, on the 15th of October, a well-known BCH SMS service provider launched in Argentina and turkey. These two countries were selected because the last few months have seen fast growing interest in cryptocurrencies and blockchain technology. One of the major drives of this popularity is the increased volatility in the native fiat currency of these countries.
What Is CoinText.io?
CoinText.io is a platform that allows people send money to Bitcoin Cash addresses using SMS on their mobile phones. After registering, you do not need to have access to the internet to use this service. In fact, you don’t need to download any mobile application or use any special password to make transactions. You can easily send using SMS. The service will help to promote the growth and adoption of BCH as more people will have access to it swiftly and efficiently. You can use this service irrespective of the mobile device you own. It doesn’t matter if you own an iOS device, a Nokia flip, or a trending Samsung phone. As long as your device can send messages, you can use this service.
Bitcoin Cash (BCH) Price Today – BCH / USD
The comment from the founder of CoinText.io, Vin Armani, as follows:
“You can’t compare Bitcoin to fiat money because it is far better. Many people in Argentina and Turkey are beginning to see the value of cryptocurrencies because of the high inflation that has caused volatility of their local currency. We are happy to offer tools that can help them access cryptocurrencies easily.”
The Turkish Lira and Argentina Peso are declining steadily. The only local currency that is falling faster against the USD is the Venezuelan Bolivar. Within a few months, Peso fell by over 60% while lira fell by over 40% against the USD.
How CoinText.io Works
Before now, those who wanted to use cryptocurrencies in this places will be required to download a wallet or register on an exchange to access cryptocurrencies. Even if you want to convince others to use cryptocurrencies, you’ll have to tell them to follow the same process. This makes them less likely to join. With CoinText.io, users can send money via text messages on their phones.
CoinText.io users can have full control of their cryptocurrencies using their normal phone messaging app. To get your account balance, text BALANCE as a command to the given number and you will receive an SMS displaying your balance. Funds can be sent, not just to domestic but also to foreign phone numbers via SMS. The transactions are settled on the BCH blockchain after the 2 factor authentication is complete.
Bitcoin Cash (BCH) Price Analysis
Main while, the price of Bitcoin Cash (BCH) is red against the USD at $460.80. This shows that the price is down by 0.59% against the USD and down by 0.12% against Bitcoin. The positive news doesn’t seem to have affected the price of BCH. The trading volume over a 24 hour period is $365,439,028 and the market capitalization is $8,020,217,664.