NASHUA, N.H., Oct. 12, 2018 — Today, CoinText.io, a wallet to transact cryptocurrency using SMS messages, introduced a new “BUY” command that enables users to spend Bitcoin Cash (BCH) at any retailer that uses BitPay to process bitcoin payments.
CoinText users can instantly send money to phone numbers, BCH addresses, and now BitPay invoices, without Internet using simple text commands like BALANCE, RECEIVE and SEND.
“We want to empower people to spend cryptocurrency,” explains CoinText founder and CTO Vin Armani. “BitPay is the premier bitcoin payment processor for goods and services. CoinText users can now shop anywhere BitPay is accepted.”
Technically, CoinText added support for the Bitcoin Improvement Protocol 70 (BIP70) JSON Payment Protocol standard which BitPay used to process over $1 billion in bitcoin transactions last year.
BIP70 allows sellers to outline exactly how buyers should structure their transactions, including the fee amount. The buyer then transmits the signed transaction directly to the seller, who verifies that the transaction meets the requirements before broadcasting it to the network.
CoinText offers automatic wallet setup without apps, accounts, or passwords. When CoinText users text money to a friend’s phone number, a new BCH wallet is created for the recipient. They don’t need to sign up for anything to receive or use the funds.
Users can also get a new wallet by sending an SMS with the word START to the CoinText access number for their region https://cointext.io/en/regions/
Armani demonstrates the new feature by donating Bitcoin Cash (BCH) to Wikimedia through BitPay in the video below:
CoinText is a for-purpose FinTech company making cryptocurrency easy to use as money. CoinText is the first full featured SMS cryptocurrency wallet that doesn’t require apps, accounts, passwords, or Internet. The service offers frictionless onboarding to the cryptocurrency ecosystem for anyone with a text-enabled phone. CoinText is built on a foundation designed for a full suite of solutions including touchless payments, streaming money, and for the Internet of Things (IoT).