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Litecoin Access Possible on Facebook Messenger, Lite.IM Announces

Isoe Aera

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Litecoin FB Messenger

On Oct.31, 2018, Lite.IM announced that it had added Facebook messenger to its burgeoning list of interconnected platforms. Effectively, that means that users with an existing account can now simply import their wallet by logging in. On the other hand, Facebook users can now directly and easily invest in Litecoin.

Announcing the new development through a tweet, Lite.IM was quick to point out that their product could now be used by over 2 Billion global users. The team tweeted that:

Lite.IM is a Zulu Republic project that seeks to make Litecoin (LTC) SMS payments a reality. Zulu is proactively pursuing Litecoin adoption without having to remove users from their familiar platforms. Through Lite.IM, Zulu has introduced the first crypto wallet on Facebook messenger.

During a Litecoin Summit held in San Francisco this year, Michael Rodriguez, the CTO of Lite.IM revealed about the release of Lite.IM on Facebook messenger. He said:

“It’s pretty huge as the first crypto on Facebook is Litecoin, and this opens the door to a user base of around 2 million people all over the world. It’s also the beginning for us as we have big plans in store.”

Security Concerns

Assuring third parties on the security of the development, Rodriguez asserted that they had taken extra measures to prevent third parties from accessing user’s passwords. He then maintained that the main aim of adding Facebook messenger to its interconnected platforms was to enable those who don’t have access to Lite.IM by ordinary means to get it. He added that:

“Our ecosystem enables banking empowerment to the whole world, connecting every network, including phone numbers via SMS and soon USSD, and to people with restricted access to the internet or technology.”

It is noteworthy that IM does not control users’ private keys. Therefore, users have full control of crypto assets. As a result, the platform offers a centralised platform and a user-centric wallet

Rodriguez opined that connecting people in first-world countries to their preferred platform makes it easier to send Litecoin. In his opinion, this is better than getting to know someone’s address, which he described as ‘cumbersome’. Lite.IM has novel plans of enabling invoices which will ease the acceptance of payments from merchants.

Not the First

Previously, the Lite.IM team had launched Litecoin service on the messaging application of Telegram. During its launch back in August, Charlie Lee encouraged the crypto community to take advantage of the bear market in the crypto community to invest. He was categorically alluding to the opportunities offered by the then launched Lite.IM Telegram service

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Isoe Aera is a cryptocurrency and blockchain enthusiast who likes to analyse and write on new developments in the cryptocurrency ecosystem. Being a graduate in Economics, Aera loves to study how cryptography disrupts economies.

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