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WhatsApp users can now send and receive Bitcoin (BTC) and Litecoin (LTC) via the popular messaging platform thanks to the Lite.Im bot.
A newly-released bot from this crypto messaging service is the latest attempt to simplify the cryptocurrency transaction process, bringing virtual currencies closer to the everyday person.
The popular mobile messaging platform is owned by Facebook that has been rumored to release its own crypto alongside a new payment service that would integrate with the app. Just for reminder, Facebook said they will integrate cryptocurrency payments across its messaging services. This includes three of Facebook’s wholly owned apps – Messenger, WhatsApp, and Instagram.
we are happy to announce that from today you can send and receive #bitcoin & #litecoin on #WhatsApp via @liteim_official ! try it yourself here: https://t.co/JaldSafGBK @FranklynCrypto @SatoshiLite @CharlieShrem @CCNMarkets @GLRalf
— Zulu Republic (@ztxrepublic) May 19, 2019
It is actually quite simple to send and receive Bitcoin via WhatsApp. User has to add the Lite.Im WhatsApp bot and follow the on-screen instructions. There are also various options for users besides sending and receiving BTC and LTC.
The service also allows people to earn cryptocurrency via a referral program. There are also options that allow users to set their default coin, as well as select their preferred language and password. Presently, the two default languages are English and Spanish. The service also supports sending and receiving Ether (ETH) and ZTX – the native token on the Zulu Republic platform.
— Sid (@Iamsidmish) May 19, 2019
Social Messaging as an Important Component of Cryptocurrency Adoption
This is however not news for Lite.Im. The company already has integrated services that let its users buy cryptocurrency directly in Facebook Messenger, Telegram, or by SMS with a credit or debit card. SMS-based cryptocurrency transactions are hoped to simplify the whole process of the cryptocurrency transaction for all users with basic SMS capabilities in the US and Canada.
According to the company, “social messaging” is an important component of wider cryptocurrency adoption. WhatsApp alone has more than 1.5 billion users in virtually every corner of the globe.
With mobile money transactions becoming easier in places across Southeast Asia and Africa, there is the possibility of more unbanked and underbanked people getting greater access to payment channels.
All of these apps have evolved from simple communications channels to central hubs of online social lives. Especially for younger generations, people are spending less and less time scrolling through infinite feeds and timelines, and more and more time texting in both one-on-one and group chats.
From Zulu Republic, they said they are aware that the social messaging is booming, and has even been outpacing the growth of traditional social media platforms for a few years now.
While Facebook is still the undisputed king of platforms in terms of total users, Messenger and WhatsApp have grown twice as fast this year.
Will WhatsApp Ever Be Secure?
However, there are concerns that after the latest hack Whatsapp will never be secure enough.
Just to remind you, Facebook’s popular messaging app with 1.5 billion users in over 180 countries was recently under the hackers’ attack where they were able to covertly install spyware on iOS and Android smartphones using Whatsapp with just a phone call.
Telegram’s founder Pavel Durov commented:
“Every time Whatsapp has to fix a critical vulnerability in their app, a new one seems to appear in its place. All of their security issues are conveniently suitable for surveillance, and look and work a lot like backdoors.”