Startup CoinText has raised $600,000 in seed funding, offering cryptocurrency investors a promising crypto wallet option. The funding comes in the form of Bitcoin Cash and is led by Yeoman’s Capital. CoinText operates on the premise that anyone can make cryptocurrency transactions on any kind of mobile phone that has the capability to send and receive text messages.
This model enables more people to gain access to cryptocurrency and make investments.
Using CoinText is simple. There is no need for an account – and thus username and password. Apps or complex cryptocurrency addresses are not necessary either. All you need is the access number for your region, to which you will text “RECEIVE” to get a wallet. The same is to be done when someone sends funds to your wallet.
In a press release, CoinText President and CTO Vin Armani says, “We are dedicated to making cryptocurrency easy to use for the maximum number of people. Yeoman’s team brings valuable experience to our mission to deliver useful tools that spread bitcoin adoption far and wide.”
On Yeoman’s part, they state that they believe in the power of CoinText to impact over a billion people.
David Johnston, Managing Director of Yeoman’s Capital, says, “CoinText is one of the few projects that far exceeds that bar by providing easy access to crypto to the 4.5 billion people with text-enabled phones worldwide. [It] has the potential to drive the next wave of mass crypto adoption because onboarding new users is as simple and seamless as sending a text message.”