A new service has been launched in Australia by the entrepreneur Stephen Roger Rowlison, Chairman at Global Media & Equity, an Australian public company. SMSBitcoin makes it possible to buy, sell and send bitcoins via SMS text messaging.

The company will hold customers’ funds until the transaction is completed and the balances will be controlled by SMSBitcoin. The new system still does not function perfectly and the clients are being warned about current issues, both on the SMSBitcoin website and in the corporative Facebook group.

“Owing to a lack of fiat liquidity... customers will experience an inability to buy or ATM their coins. We are looking for investors and lenders to provide fiat liquidity at great rates,” reads a message in the Facebook SMSBitcoin group.

It is also claimed that bitcoin can be bought with a credit card provided that buyers send their driver’s licence and credit card statement to the indicated email address. To increase users’ trust, Rowlison plans to launch a sidechain, so that all transactions can be monitored by the clients, while the privacy remains protected.

At the moment the website lists different mobile phone numbers that should be used for different operations: buying, sending, cashing out bitcoins, making a donation, or checking one’s balance. Every procedure is described in detail. Account deposits are to be made with Australia Post’s POLi system.

Sonya Belova