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Cointext Bitcoin Cash SMS payments arrive in Asia

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Asia is the crypto verse’s center. Bitcoin was (we suspect) created in Japan. Most of the world’s crypto mining takes place in China and Korea has a very enthusiastic crypto market that’s behind every one of the world’s markets big developments. So it’s not a surprise that Cointext has made an effort to go into several Asian countries. Israel and Hong Kong, for a start.

Cointext is an innovative service that allows for cryptocurrency holders to transact without an internet connection or an account. All it takes is to have a mobile phone and then you can send and receive digital assets by simply sending or receiving SMS messages. It’s simple, convenient, fast, and relatively low-tech.

It’s a very young project (it went live only last March). It’s available in several countries (the USA, UK, the Netherlands, Sweden, Switzerland, Canada, and South Africa). 

With Cointext you get a full-fledged crypto wallet that needs you to hold no account in an exchange, or install any apps, or remember a password. You don’t even need Internet service, just your normal mobile service that supports SMS texting. It’s a very big step in the democratization and adoption of cryptocurrencies everywhere where it’s available.

Using Cointext is as simple as this: you just issue a command in an SMS (available commands include RECEIVE, SEND, START, and BALANCE) to a local number (Hong Kong: 85257456744; Israel: 972526230418). You start by sending “START” to the number in question, and a wallet will be set up for you in the system, instantly. That’s all it takes.

The new development for this company is that it’s making available it’s Bitcoin Cash Wallet (BCH) available in Hong Kong and Israel (and this includes the Palestinian territories). 

The company’s founder and lead developer, Vin Armani, considers these two countries to be strategically critical. In his own words

“These are important regions for us to connect because they’re financial centers. And Cointext gives them a simple alternative to physical cash.”

And that’s just the beginning. Only last week, Cointext announced that it will become available in several other European countries (namely Germany, Austria, France, Estonia, Portugal, and the Czech Republic).

The current service available in Israel and Hong Kong is available in English only. But developers are working so Chinese, and Hebrew will be available for local users as soon as possible.

The company is quite experienced in localization since it’s available in more than 20 countries (25 to be specific) and 15 different languages. So it won’t take it long to develop the required technology to serve in the local languages.

At the current time, it’s unknown if other digital assets will be available through Cointext, and it’s anybody’s guess why it chose to offer BitCoin Cash instead of other, more traded, coins. But it’s good news for both the company and BTC.

If you have an account in any of the main cryptocurrency exchanges around the world, knowing that Cointext is around will be a breath of fresh air, as you probably know that making transfers in that kind of exchange or platform is not simple at all.

Congratulations to Cointext, and let’s hope that this service becomes available the world over very soon.

For the global insights every crypto trader must have, apply for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay

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Three of the Best Crypto-Friendly Currency Accounts for 2019

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The advent of blockchain and cryptocurrency has seen several industries disrupted like never before, including finance.

Notoriously resistant to change on any real scale, finance has always been seen as a tough industry to bring new ideas into, but blockchain has changed the game in many respects.

Today we’re seeing an influx of agile digital challengers to the established names that have dominated banking for so long.

Recently a report was published by consultancy company A.T. Kearney that claims “Not all banks will survive the tide of change as customers increasingly favor digital banks and innovative products and services.

“Branch closures are a short-term fix to steady the books, but it is not enough – traditional institutions need to consider strategic transformation to improve cost and top line and also offer more innovative products and services.”

In short, the world of banking is changing, and the following three startups are among the best crypto-friendly banking options for 2019.

Wirex

Offering customers a VISA card available in three different currencies, Wirex has quickly established itself as one of the most recognized names in crypto finance.

Billed as “crypto and traditional currency accounts that put the power in your hands,” Wirex allows customers to take charge of their entire banking needs from one simple to use platform.

You can fund your account using a credit/debit card, bank transfer,…

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Bitcoin

4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

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After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

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