Short answer: it depends on what you send, because marketing and login codes get treated differently. Most large platforms bar crypto marketing on US or Canadian routes, some still allow codes there, and Telnyx bars crypto codes as well. Of the crypto SMS gateways we read, BlueSMS is the one that both names crypto exchanges as an audience and gives route detail, though it markets itself as No-KYC. SendHaven reviews every account and is built for teams that want to test on part of a list before paying for the rest.
We sell SMS, so weigh our opinion accordingly. The table uses only what each company publishes on its own site, read on 10 November 2026, and we did not test anyone's delivery. Company figures are their own claims.
Crypto SMS gateways compared (November 2026)
| Provider | Built for | Messages it names | Coverage or routes | One-time codes | Consent and compliance |
|---|---|---|---|---|---|
| SendHaven | High-risk brands, including crypto | Account alerts, market updates, onboarding, promotions | Countries opened per account | SMS or voice | Accounts reviewed. Sender is responsible for consent, licences and warnings. |
| BlueSMS | Casinos, crypto exchanges, adult services, agencies | Promotional and transactional bulk, scheduled broadcasts | Claims 170+ countries, 900+ operators and 99.2%+ delivery | Yes. Claims under 2.5 seconds on average. | Markets itself as No-KYC. Tells users to follow local rules. Shows certification badges we could not verify. |
| XHDVA | Crypto projects, DeFi, Web3, exchanges, wallets | Transaction, security, price and DeFi alerts, NFT drops, promotions, referrals | Global carrier partnerships, no country list | Listed as an example use | Advises respecting opt-outs and names TCPA and GDPR. |
| Mobile Text Alerts | Traders, investors, crypto alert services | Price and market alerts only | Not stated | Not described in this article | Not stated |
| GENSMS | Businesses and developers. Crypto named only as a way to pay. | Promotional, transactional, OTP, bulk | Claims 190+ countries, most messages within 3 seconds | Named, without detail | Markets itself as No-KYC. Lists GDPR and Estonian law. |
| Twilio | A customer story about Crypto.com, not a crypto product page | One-time passwords, 3DS codes, anti-phishing codes | Global coverage claim, no detail | Yes | Bars crypto on US and Canadian SMS. See below. |
Not stated means that page doesn't say, which doesn't mean the company can't do it. Few providers talk about crypto at all, and the Twilio entry is a good reminder of why you should read past the marketing: its customer story is about a well-known exchange, while its messaging rules bar the category on North American SMS.
Marketing and login codes are two separate questions
This is the distinction most crypto teams only discover after they have been rejected. A platform that refuses your promotions may still carry your verification codes, and one that seems to accept you may not carry either:
| Platform | Crypto marketing | Codes and transactional |
|---|---|---|
| Twilio | Forbidden on US and Canadian SMS and MMS | Toll-free limited to 2FA or transactional traffic |
| ClickSend | Barred in the US and Canada | Two-factor messages only, for crypto-only businesses |
| Telnyx | Barred | Barred too, OTPs named |
| Sinch | Barred in the US | Not stated |
| Plivo | Barred on US programs | Not stated |
| Amazon | On its global prohibited list. Some countries might allow it. | Not stated |
| TextMagic | Ineligible on US 10DLC | Not stated |
| BulkGate | Barred in the US and Canada | Not stated |
| Bird | Regulated differently per market | Not stated |
| Infobip | Forbidden in India, likely blocked in Saudi Arabia | Not stated |
Not stated here means the policy we read doesn't separate codes from marketing, so ask. Telnyx is the blunt one: its messaging policy lists crypto content including OTPs. If your exchange sends login codes through a platform with a line like that, your sign-up flow is exposed to it. We cover 19 providers in which SMS providers accept gambling, crypto and adult.
Two other details are worth knowing before you shortlist. Rules from one country say very little about the next, so a ban on US routes tells you nothing about Brazil. And "No-KYC" appears as a headline feature on two pages above. For some teams that is the attraction. For a regulated exchange we would treat it as a warning, because a provider that doesn't check its senders can't tell you who else is on your routes. That is our opinion, and neither company says it.
What UK and EU rules mean for a promotional text
The UK and EU took different approaches, and only one thought about short formats:
| Question | UK (COBS 4.12A) | EU (MiCA) |
|---|---|---|
| Who may promote | An authorised firm, a firm approved by one, a business registered under the Money Laundering Regulations, or another exemption | Service providers need MiCA authorisation. Transitional periods ended by 1 July 2026 at the latest. |
| Required wording | A prescribed risk warning about losing all the money invested, high risk and lack of protection | Marketing must be identifiable, fair, clear and not misleading. Token offers also need a pointer to the white paper, contact details and a set statement. |
| A short version for texts? | Yes. Where the warning exceeds a third party provider's character limit, keep only the first sentence. | None found. |
| A link? | Digital media need a risk summary link. The link wording can go over a character limit, and the link itself only if the medium cannot carry one. | Not specified for short formats. |
| Bonuses | Banned with narrow exceptions, including referral bonuses, cashback, free gifts and volume-linked discounts | Not covered in the articles we read. |
| Cooling-off | At least 24 hours before a first direct offer to a new client | Not covered in the articles we read. |
| Does it name SMS? | No | No |
The UK has a short version. The EU doesn't.
Under COBS 4.12A.11R a firm uses just the first sentence of the risk warning, the one about being prepared to lose all the money invested, when the full warning exceeds a third party marketing provider's character limit. Whether SMS counts as a digital medium for the link rule isn't stated in the Handbook or in PS23/6, so get that decided before you build templates.
MiCA has no equivalent. If you are offering a token under Article 7, the marketing must carry a set statement that no authority has reviewed it, and that statement alone is 261 characters, more than one standard text can hold before you add the white paper pointer, your website, phone number and email. In practice a compliant token offer takes several parts, if it works by SMS at all. An exchange promoting its own service looks more like Article 66, which requires that marketing be identified as such and be fair, clear and not misleading. Your lawyer should confirm which applies.
The UK ban that catches most crypto texts
COBS 4.12A.7R bans incentives in these promotions, and the guidance lists referral bonuses, bonuses for investing, cashback, volume-linked discounts and free gifts. That removes most of the standard crypto growth text for UK retail consumers. The rule also says a benefit available only through a particular medium is likely to be an incentive, so "SMS-only fee discount" is a poor idea.
Watch your welcome flow
The UK cooling-off rule requires at least 24 hours after a client asks to receive a direct offer, and it applies the first time a firm makes one to that client. PS23/6 says it doesn't restrict information such as prices. An automated "complete your first purchase" text an hour after sign-up deserves a close look from compliance.
Selling into the EU from outside
Firms outside the EU sometimes rely on customers approaching them first. ESMA's reverse solicitation guidelines read solicitation broadly and technology-neutrally, by any means including phone calls, emails and messaging platforms. A marketing text sent to an EU resident is very hard to describe as that person approaching you.
The UK regime changes on 25 October 2027. PS26/13 keeps the current promotion approach, apart from UK-issued qualifying stablecoins, so check the final Handbook wording nearer the date. No official source we read says whether a price alert or login code is a promotion. In the UK the test is whether a reasonable observer would see an attempt to persuade, so keep codes and account notices free of offers.
Your customers have been taught not to trust crypto texts
The US CFTC warns consumers about crypto scams that start with a text or messaging app, and your users have probably received some. Good delivery is wasted on a message people assume is fake. These habits help:
- Never put a login link in a security alert. Tell people to open the app. Then you can train them to treat any security text with a link as fake.
- Consider an anti-phishing code. Crypto.com's Twilio story lists anti-phishing codes among its messages. A personal code in each message gives customers a way to tell it's really you.
- Keep one sender name for security messages in each country where the network allows it.
- Avoid public link shorteners. Crypto users have learned to distrust them, with good reason.
- Say what you will never ask for. Seed phrases, private keys and codes should never be requested by message, and your onboarding should say so.
- Don't rely on SMS alone for withdrawals. SIM swaps are a known way of intercepting codes, so offer an authenticator app or passkey as well.
What a crypto team needs from an SMS provider
| What you need | Why it matters | What to ask |
|---|---|---|
| A written answer per message type | A provider may accept codes and refuse marketing | Do you accept my codes, alerts and promotions, in which countries? |
| Codes on their own traffic | A login code can't queue behind a campaign | Are codes separated from bulk sends? |
| A fallback when SMS fails | A customer locked out of a withdrawal contacts support or leaves | Is there voice or another channel if the text doesn't arrive? |
| Timing per network | A code expires quickly | Can I see time to handset by country and network? |
| Country controls | Some markets forbid crypto messages outright | Which of my countries are blocked or restricted for crypto? |
| Sender name rules | A security text from an unknown name looks like a scam | Will my brand name show here, or does it need registering? |
| Limits on who sees content | Message logs can contain live codes | Who at your company can read message content, and how long is it kept? |
| A plan for your balance | Prepaid credit is exposed if an account closes | What happens to my balance if my account is closed? |
How to test a provider on codes
Crypto teams usually compare on price per message. For verification traffic the number that matters is how many people finish signing up.
- Choose your three largest countries and the main networks in each.
- Send real codes to phones you control, or to a small share of live sign-ups split evenly between providers.
- Record seconds from request to handset, and how often a code arrives after it has expired.
- Repeat at your busiest hour, because a route that is fast at 3am may queue during a market move.
- Measure verified accounts, not delivered receipts. A delivery report only tells you what a network said happened.
With invented numbers, this is what the comparison looks like:
| Example, 10,000 sign-ups | Provider A | Provider B |
|---|---|---|
| Price per code | $0.030 | $0.050 |
| Cost for 10,000 sign-ups | $300 | $500 |
| Code reaches the phone in time | 88% | 97% |
| Verified accounts | 8,800 | 9,700 |
The extra $200 buys 900 more verified customers, about $0.22 each. For an exchange, that is usually the cheapest customer it will acquire all month. We don't have crypto campaign numbers of our own to publish yet, so we make no delivery claim here. The real data we can share comes from a different vertical, in our iGaming SMS comparison.
Which provider fits which business
| Your business | What to look for | Worth shortlisting |
|---|---|---|
| Exchange or wallet that needs codes | Written acceptance per country, a code route, fallback | SendHaven, BlueSMS, Twilio outside the US and Canada after confirming |
| Token project or launch | Legal review first, because of the MiCA and UK rules below | XHDVA, SendHaven |
| Price alert service | Simple alert sending to subscribers | Mobile Text Alerts |
| Agency running crypto campaigns | Several clients, tracked results | BlueSMS, SendHaven |
| Developer who wants to pay in crypto | Self-serve API, crypto payment named on the page | GENSMS |
This is based on what each company says about itself, so use it as a starting list.
Consent still applies, even to good news
UK PECR and the EU ePrivacy Directive require prior consent for marketing texts, with a narrow exception for your own existing customers. Canada's CASL and the US TCPA set their own conditions. A listing announcement to people who signed up for security alerts is marketing, so collect that permission separately.
Where SendHaven fits, and where it doesn't
SendHaven SMS handles crypto account alerts, market updates, onboarding flows and promotions on one reviewed account. You can split a broadcast into chunks with their own sender, wording and tracked link, then release the rest only if delivery and unique clicks hold up. Number validation, suppression lists, opt-out links and one-time codes by SMS or voice are included, and countries are opened one by one. See the SMS service, or read the best email options for crypto if you run both channels.
It isn't the right choice if you need a two-way inbox, because we don't offer one today, or WhatsApp and Viber in the same dashboard. We also won't take accounts we can't review. We don't write your warnings or check them, and as the sender you remain responsible for consent, licences and every message.
Frequently asked questions
What is the best SMS gateway for crypto?
It depends on whether you need codes, marketing or both, and in which countries. Among the pages we read, BlueSMS names crypto exchanges and gives route detail but markets itself as No-KYC. SendHaven reviews accounts and suits teams that test before sending in full. Get written acceptance per country from anyone you shortlist.
Does Twilio allow crypto SMS?
Not on US or Canadian SMS and MMS, where Twilio lists it as a forbidden category. Toll-free traffic for such businesses is limited to two-factor or transactional messages. We did not check its guideline page for every other country.
Can I send crypto login codes by SMS?
Usually, but check first. In the US and Canada, ClickSend limits crypto businesses to two-factor messages and Twilio limits toll-free traffic to two-factor or transactional. Telnyx bars crypto content including OTPs.
Do crypto promotions by SMS need a risk warning?
For UK retail consumers, yes, and a shorter form exists where a third party provider's character limit applies. In the EU, MiCA sets what marketing must contain but has no short format. Neither names SMS, so take legal advice before you build templates.
Can I send a referral bonus by text in the UK?
Not as a promotion of qualifying cryptoassets to UK retail consumers. The FCA bans incentives, and its guidance lists referral bonuses, cashback and free gifts as examples.
Is SMS safe for crypto two-factor authentication?
It is better than nothing, but SIM swaps can intercept codes. A safer setup is SMS for low-risk steps and an authenticator app or passkey for withdrawals.
Written by Alex Rosca, founder of SendHaven. Questions or corrections: Telegram @alex_rosca or hello@sendhaven.io. Updated November 10, 2026.
