Cointext has unveiled a new feature service that seeks to enhance how people transact using Bitcoin Cash. The new service will allow anyone with a mobile phone to send and receive Bitcoin Cash (BCH) using the mobile phone SMS protocol.
The primary goal of this new service is to deliver global finance to anyone with a mobile phone as the firm looks to open global market opportunities through Bitcoin Cash transactions
The new feature service makes use of conventional Short Message Service protocol, instead of the internet, to facilitate the transfer of Bitcoin Cash. Beta release of the service can now be tested in North America as well as South Africa, Switzerland, Sweden, Netherlands and the U.K.
The service provides the most straightforward way of using cryptocurrency as Cointext does not require registration, downloads or internet. Users will simply get a wallet by texting Cointext or when someone sends BCH to your phone. The firm will collect roughly $0.05 cents worth of BCH for every message sent as a transaction fee. The fee will always be constant.
Cointext does not hold any funds, as all transactions are settled immediately on-chain, thereby taking the security of the service to another level. The service also does not store any data about phone numbers as well as key pairs and transactions in the system.
?Cointext is the easiest and most powerful way to spread the use of Bitcoin Cash because it works with any mobile phone and you don?t need any knowledge of cryptocurrency to use it,? said Cointext Co-founder VIN Armani.
The fact that the new service runs over the SMS communication layer of mobile phones means its wallet can do much more than what other crypto-wallets can do. For instance, people can send BCH to feature phones, perfect for targeting people in developing nations where internet services is usually a problem.
More than 2,000 people have already signed up for the new service as the company aims at more users with an incentive of $0.50 in bitcoin cash for every user that texts the word CASH to the firm?s access number.
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