Cryptocurrencies are here to stay; there’s no doubt about it. The market withstood the worst times and survived through them, proving their mettle. However, the mass adoption of digital currencies is still a few breakthroughs away. Zulu Republic’s announcement made on Sunday could just be that.
The Zulu Republic tweeted on Sunday that users can now send and receive Bitcoin and Litecoin on WhatsApp, via Lite.IM.
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
Lite.IM is a conversational crypto wallet based on WhatsApp, which allows users to send and receive cryptocurrencies. What this means is that WhatsApp users, who hold tokens can interact with the Lite.IM business account on WhatsApp to send and receive digital tokens.
However, it means a lot more to the market than simply exchanging tokens among users. The monthly active user base of WhatsApp stands at a humongous 1.5 billion. Add to that the 2.3 billion users of its parent social network platform Facebook, and the possibilities turn out to be endless. Facebook itself is working on its native stablecoin, which could further add to the mix.
Complexities of crypto transactions have often kept laymen out of the game, and hence, mass adoption seemed at a distant future. However, things could change rapidly, especially with the integration of crypto and WhatsApp. Exchanging on the platforms like these eliminates most of the technically challenging stuff, which would encourage people to join the crypto revolution.
Apart from Bitcoin (BTC) and Litecoin (LTC), users can also send and receive Ethereum (ETH) and Zulu Republican Token (ZRX). A user should simply send “HODL” message on the Lite.IM account, and start a conversation. It gives step by step instructions, which makes trading as simple as, let’s say, chatting.
Awareness of cryptocurrencies and their benefits is increasing among common investors, and the markets are expanding in newer regions. Developing simplified tools will give companies a competitive edge because the new entrants are more likely to find simple platforms rather than complex ones.
If marketed efficiently, Lite.IM can be a great success in regions like the Sub-continent, Africa, South America, etc., where crypto industry faces severe restrictions by regulators. Especially in an emerging market like India, which is witnessing an internet boom since 2016, tools like Lite.IM can be of great significance for crypto trading.
Also, other small crypto start-ups can soon imitate Lite.IM, which could result in a variety of altcoins and stablecoins being traded on WhatsApp. After all, the crypto game is too hard to resist for anyone who’s seen a glimpse of the power of blockchain and Bitcoin.