Zulu Republic’s Lite.IM has announced that it will be adding Bitcoin to the line of support on its crypto wallet platform.
Bitcoin is the fourth cryptocurrency supported by Lite.IM after ZTX (Zulu Republic’s token), ETH (Ethereum) and LTC (Litecoin).
The team of Lite.IM took the crypto adoption to a whole new level in early August last year when the announcement was made that Litecoin will be made available through text messages and Telegram.
And after making LTC available on SMS and Telegram, the team took a further step in last November and unified Facebook Messenger and Litecoin remittance service to extend to the community.
Now the team has announced that they will support Bitcoin on Lite.IM. Using the Lite.IM platform, users can send, manage and receive Bitcoins through Facebook Messenger, SMS and Telegram. SMS service is only available in Canada and the United States.
Bitcoin Payments Brought to the Masses
People who use social messaging applications and SMS will be able to send Bitcoins to their contacts now with the help of the Lite.IM app.
The developer of the software is Zulu Republic, and it revealed the Bitcoin addition to its list of other cryptos in a Tweet last week, mentioning that it was meant to be a holiday gift to its users. They further outlined the expansion in a Medium post.
Eyes of Social Media Giants on Crypto
Lite.IM is something that works beyond the application and it is not necessarily a recommendation by social media networks for transactions. Such an endorsement may be undermining, depending on their own aspirations with digital currencies for the likes of Telegram and Facebook.
There are reports indicating that Facebook may be launching its own coin to use on the social network. The company has been recruiting a remarkable line of blockchain specialists, which includes former executives of PayPal and other top tech leaders.
Reportedly, the plan is to introduce a digital currency on the WhatsApp application.
Telegram, a cross-platform messaging service, is also following the same path in some places. It launched its own Initial Coin Offering (ICO) back in March, ultimately raising a total of $1.7 billion with the help of private investors.
The Significance of Lite.IM’s Support for Bitcoin
One of the important reasons why it is difficult for an average consumer to choose a blockchain system for everyday use is because it is not easy to understand and there are a lot of barriers. With the introduction of technologies like Lite.IM, people could easily send money to family and friends as they would transact through PayPal and Venmo.
This, in turn, could boost adoption rates significantly.