CoinText has Recently Launched its Services in Bangladesh

CoinText has Recently Launched its Services in Bangladesh


CoinText, a blockchain project designed to help provide access to crypto wallet services and BCH coin transfer features to the unbanked and those without access to the Internet, has recently announced the launch of its services in Bangladesh.

CoinText Supported in 38 Countries 

CoinText recently announced the launch of its services in Brazil and three other European markets. Going by this, the total number of countries supported by the application now stands at 38.

A recent report shows that: “Bangladesh has about 21 percent mobile phone penetration and a meagre smartphone penetration of just 5.4 percent at the of end 2017.” Therefore, the country is perfect and in line with the aims and objective of CoinText.

This figure is however expected to double in about 7 years time. These predictions were made by GSMA (the global GSM association).

According to CoinText’s founder and CTO —Vin Armani, Bangladesh has several qualifying characteristic which makes it perfect.

Armani confirmed this in a statement which reads:
“Very few people have smartphones or cellular data in Bangladesh. CoinText enables basic feature phones to access international currencies like bitcoin using SMS.”

He further stated that:
“They now have the ability to move value from one phone to another without Internet or the friction of opening bank accounts.”

Although a startup, CoinText now supports customers from 38 countries, cutting across many continents. This includes clients located in Ukraine, Italy, Colombia, Latin America, Europe, Ocean, Asia, and North America.

Key Features 

The press release also described some of the key features of the CoinText app.

It was stated therein that:
“CoinText enables users to send money to mobile phone numbers in 38 countries or any BCH address. Transactions are nearly instant and only cost pennies. Recipients don’t need to download a wallet or take any action to receive transfers, and funds are immediately available to be re-spent.”