Providing the poor financial independence & security.

Cointext and its impact on the third world

When I first read the Bitcoin white paper in 2013 it took me awhile to realize what the full implications would be on the world. Blockchain is poised to revolutionize nearly every industry and how both corporations and individuals interact. The most revolutionary application for this technology was always, to me, as money.

Traditional fiat currencies lack the attribute that makes them truly money, being a store of value. Gold coins are money but are not inherently easily transferable in a global market place, requiring a tokenized version of value for exchange. Bitcoin was the first true MONEY for the digital age. A medium of exchange that could transcend borders, provide fast and cheap transfers of wealth and an immutable store of value in both its security and algorithmic restrictions.

Over time choices have been made that have led to Bitcoin becoming an unusable currency for daily transactions and not a true available alternative for those of this world that have the greatest need for a money that is secure from the inflationary tendencies of government and is as cheap as possible to transact in.

I take no real sides in these debates, but I am no bitcoin maximalist and do not believe that cryptocurrency innovation started and stopped in 2008.

A real issue with cryptocurrency and its application for adoption in the 3rd world is the lack of internet in many areas. As infrastructure continues to develop in the future this will become less and less an issue. But this IS an issue today and needs to be addressed.

Cointext is a platform that seeks to address this very issue by combining the proven use case of SMS payments in rural areas with the innovation of cryptocurrency. By simply sending a text to the regional number for your area, cointext, using your phone number and a proprietary algorithm as a seed creates a Bitcoin Cash wallet linked to your phone number.

To start, text your regional number (for the most up to date list check Cointext)

USA — 17077776185
Canada — 15067002100
UK — 447491163242
Australia — 61488811810
Netherlands — 3197014200771
South Africa — 27872406777
Switzerland — 41798073741
Sweden — 46700861888

I would recommend saving that number in your contacts as COINTEXT as all the commands will be issued through this text contact.

Check Balance:

Type “Balance” and your balance is texted back to you

View Public Address:

Type “Receive” and cointext will send you your Public Address. You also have the option to receive the Legacy address for your wallet if you need it.

This allows you to receive BCH in 2 ways, one being someone with cointext texting you BCH the other being your public address. You can use this public address to top off your account as well, its a real wallet this is not a custodial exchange account.

View Private Key:

One of the features being added before public Beta launches on 27 March 2018 will be the ability for you have your private key sent to you via text. This has inherent security risks, but allows you to control your wallet making cointext a non custodial service. The exact command for this has not been released as of this writing.

Send BCH to another person:

You can Send BCH to someone in the same ways you can receive it.

Type “SEND $5.32 2024561111" and 5.32 USD worth of Bitcoin cash will be sent to that phone number. The cool thing about Cointext is that even if that person doesnt have cointext yet, once you send them BCH it automatically creates a wallet attached to their phone! FYI thats the white house switchboard line so dont text that number!

Type “SEND $150 qr9kecj2pppzjmprjhjmukr338cmgr3shsy6u48gvt” and $150 USD worth of BCH will be sent to this bitcoin cash address. feel free to send $150 or any amount of BCH to this address as it its my Cointext wallet address ;) This allows you to send your BCH to anyone, anywhere not just users of cointext.

After you hit send, whether to phone # or a public address a second text will appear with 2FA code to enter, enter that number and your transaction will then be broadcast to the network.

there is an interactive list of instructions at


Fees are a flat rate of $0.05USD per transaction. So whether you send $1 or 1,000,000 you only pay $.05USD


In many third world nations the people do not trust their own currencies, it does not act as a store of value as their own governments inflate it to the point of destruction. In more rural areas banks are non existent and those who go abroad to find work are unable to easily transfer value to family back home. With cryptocurrency the immutable nature of the blockchain secures the value against government interference, however you still need access to the internet to ensure transact. Cointext removes this barrier and follows the same example MPESA set a decade earlier using text based money transfer system through the cell networks. While MPESA served and continues to serve a real need and are in essence a digital currency they are still organized in a centralized fashion. The centralized model is always inherently at risk of government intervention and manipulation due to the single point of failure being present; in this case safaricom.

Bitcoin Cash is a peer to peer decentralized model. There is no person that can be pressured or server that can be hacked to disrupt the flow of value occurring on the network. With Cointext these people can truly have access to a safe and secure money that is 2800% cheaper than the leading alternative for remittances from overseas to their rural families.

Things to consider…

  • Cointext is not a custodial account. They do not have access to your private keys so if you lose access to your phone number and dont have your private key you will NOT have access to your funds. This is no different than any other non custodial service. If you are going to be changing phone numbers send all your BCH to a new wallet, after you get a new number text Cointext to get your new address and then resend the funds back to yourself. This is not a perfect system and a bit of a hitch in this as i can see real issues of rural people losing phones etc. Also Remember if you have control of your PUBLIC and PRIVATE keys your funds are always available to you no matter what happens to your number
  • Cell Number Spoofing is a real concern. If youre not familiar with this, basically a caller can use VOIP to call you from a number in say Croatia but it appear on your caller ID to be a local number, thus increasing the chances you pick up a telemarketers call. With Cointext it could be possible that i spoof your cell number and send a text that says “SEND $15000 qr9kecj2pppzjmprjhjmukr338cmgr3shsy6u48gvt” because i heard you say you had 15000 in your cointext account on your phone in a coffee shop and then give out your number. Now i just got all your BCH right? Wrong. As i mentioned in the Send command section you will be sent a 2FA code via text that you have to reenter to verify the transaction. You see, spoofers can fake a text that looks like its FROM you but they cannot RECEIVE any incoming texts to you. FYI once again feel free to send BCH to the above address ;)

The public beta is live on March 28, 2018 sign up at

Follow me on Twitter @DustinDry1st

Listen to me on Did You Know Crypto podcast (Live on 4/1/18)

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