Most people only have one or two phones. If people ask to borrow other people's phones, it spreads info about the currency. Phone numbers are under the control of phone companies so its a big hassle to change them or get multiple of them. Its not perfect, but should work well enough

You do not misunderstand.
Anyone can buy a SIM card 10-20-100 and pass the verification on your site.
Then it turns out that enormous number of coins will be in the hands of one person.