The Users need to install the Lite.im bot on the smartphone and follow the onscreen instructions for setting up the cryptocurrency transactions process on the app. The bot also enables users to earn some crypto via referral program. In January 2019, the company announced that the platform allows the users purchases of cryptocurrency directly in Facebook Messenger, Telegram, or by SMS with a credit or debit card.
Cryptocurrency businesses are coming up with innovative ways to make crypto adoption simpler and with a more extensive inclusion. A few organizations are going much further and are presenting crypto exchanges by means of standard SMS.
Earlier this year, Wuabit, Spain based startup, announced a platform for WhatsApp users to transact cryptocurrencies by chatting with the AI. The company planned to launch its beta program in April but there hasn’t been any update yet.
It is no secret that Facebook is busy building its own cryptocurrency and recently started its blockchain division in Switzerland. In this interest, Lite.im move might be seen as a competition to Facebook.
Among all this, all bots and wallets that offer crypto transactions on Facebook’s Messenger, WhatsApp and Instagram may be viewed as its rivals and may face relevant measures against them in the coming days.
Image Credit: Whatsapp