According to reports, WhatsApp users can now carry out transactions with Bitcoin and Litecoin. The globally renowned instant messaging platform has launched a new protocol that will allow its users to transfer cryptocurrency like Bitcoin and Litecoin with a new bot. This move by WhatsApp comes ahead of Facebook’s initiative. Facebook reportedly eyes the WhatsApp audience to use its stablecoin. As of press time according to CoinMarketCap, the price of Bitcoin stood at $7,902.36. BTC price is down by 0.46% as of press time. The price of Litecoin stood at $91.21. The digital asset is down by 2.11% in the last 24 hours.
Cryptocurrency News Today: Crypto Transactions Have Started to Take Center Stage
The aspect of cryptocurrency that has started to gain wider attention is crypto transactions. Since the crypto winter passed crypto transaction improvements have started to take center stage. Now, more and more platforms have started to offer crypto transactions for their users. They are not exchanges or crypto wallets. Some market players have begun to target popular messaging platforms in a bid to introduce crypto payments. It is clear that another company has joined the initiative.
This Sunday, Zulu Republic made a tweet to announce that they have launched a unique bot for WhatsApp users. The bot will help users send and receive Bitcoin and Litecoin with Lite.Im bot.
What You Need To Know About Earning Cryptocurrency on WhatsApp
For users to send or receive cryptocurrency with the new WhatsApp bot, they will need to install it on their device and check for on-screen prompts. The new bot also allows users to earn crypto by referring their friends and making sure they also install it.
As of May 19, the new bot has just two language options including Spanish and English. Additionally, apart from Bitcoin and Ethereum, it also allows transactions in Zulu Republic (ZTX).
What About Crypto Transactions on Other Messaging Applications?
Cryptocurrency startups have been doing their best to ensure that crypto adoption is deeper and has a wider coverage. Some firms are going further and introducing crypto transactions through the regular SMS format. This latest option is a much easier model for people who are not very good with using gadgets.
It can be recalled from an earlier report in February, that a crypto wallet known as Wuabit was planning to start conducting operations with cryptos on apps like WhatsApp, Viber, SMS and Telegram.
Additionally, at the start of the year, the Lite.Im bot also launched for the Facebook Messenger app, Telegram and SMS.
Messaging platforms have now become very crucial for spreading or facilitating cryptocurrency adoption.
Mobile cryptocurrency transactions in third-world continents like Africa and Asia have made it possible for numerous unbanked people to have access to the worldwide financial system, as well as online payments and offering them bigger opportunities to reach their goals.
Competition with Facebook’s crypto
It is now common knowledge that the social media mogul Facebook has reportedly been developing its own stablecoin. According to the report the exercise is been carried out by a special Blockchain division in Switzerland. The firm is a recently founded startup.
In light of this development, all bots and crypto wallets that offer transactions on platforms belonging to Facebook (including Messenger, WhatsApp, and Instagram) can actually be viewed as rivals to Zuckerberg’s company. It wouldn’t be strange if Facebook decides to take relevant measures against them.