Social media is gradually embracing cryptocurrencies. In the latest developments, the popular instant messaging platform, WhatsApp, now permits its users to transfer Litecoin and Bitcoin through a new bot. The move comes ahead of Facebook that also plans to target the WhatsApp audience for its forthcoming stablecoin.
The field of virtual currency transactions is widening as the ‘crypto winter’ effects fade away. More platforms are diving into the nascent world offering to execute and support crypto transactions for their customers. Initially, only crypto wallets and exchanges were involved. Today, other institutions keep joining in looking to benefit from the great investment opportunity.
Although some market players had already begun targeting popular messaging platforms to introduce crypto payments, WhatsApp is seen as a significant addition to this elite group. On May 19, Zulu Republic tweeted that they had unveiled a special bot for WhatsApp users. The bot will let customers send and receive Litecoin (LTC) and Bitcoin (BTC) employing the new Lite.Im bot.
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
Using WhatsApp to earn Crypto
Users simply need to install the new WhatsApp bot to send and receive these tokens via the platform. On-screen prompts are available to adequately guide the customers on what to do. The bot also lets customers earn some digital tokens by referring friends and guaranteeing they install the bot too.
Currently, the bot has two language options that include English and Spanish. Besides ETH and BTC, this new bot enables users to send and receive the native token of the Zulu Republic abbreviated as ZTX.
Cryptocurrency transactions in other messaging platforms
Most crypto start-ups are striving relentlessly to ensure that there is a massive adoption of cryptocurrencies around the world. Some of these companies are also taking it a notch higher by introducing digital currency transactions through regular SMS. This method is significantly easier to use for individuals who are not tech savvy.
In February this year, reports revealed that Wuabit, a crypto wallet, wanted to start performing crypto transactions via Viber, WhatsApp, Telegram, and SMS. The Lite.Im bot was launched earlier this year for Telegram, Facebook Messenger, and SMS.
The Zulu Republic seems to believe that messaging platforms are quite important for spreading crypto adoption around the world. Mobile cryptocurrency transactions in the third-world and developing regions like Asia and Africa will come in handy.
More than two billion of the unbanked individuals in these regions will soon have access to global financial systems. The individuals will also gain access to online payments while the virtual currencies will provide them with bigger opportunities.
Facebook’s Stablecoin is a major competitor
It is now in the mainstream news that Facebook is busy developing a stablecoin. Reports show that a recently founded start-up in collaboration with a special blockchain division in Switzerland is handling that task.
Consequently, all wallets and bots that offer crypto transactions on Messenger, Instagram, and WhatsApp will automatically become rivals. Thus, Facebook may impose relevant measures on competitors to ensure that it dominates the now seemingly lucrative market. More institutions keep joining the crypto world which, in turn, enhances the legitimacy of the nascent sector.