Coinbase, the one-year old Bitcoin startup that landed a $5 million investment earlier this year, is opening its virtual currency banking system up to the masses after introducing SMS-based actions.
The new feature allows anyone on any kind of mobile device to use all the features of the service. After verifying their number and setting up a PIN, users simply send a text using one of the set shortcodes. Transactions that affect account balance — send, buy and sell — are confirmed by a voice call during which the customer is prompted to key in their PIN.
Coinbase says that, in addition to making its processes more simple, SMS commands open it up to those in emerging markets, many of “who can benefit from Bitcoin the most”.
➤ You can now perform all basic actions in Bitcoin through SMS [Coinbase]
Headline image via zcopley / Flickr
Get the TNW newsletter
Get the most important tech news in your inbox each week.