Facebook Messenger users can experience sending and receiving litecoins payments, checking their digital wallet balance and transaction history through this social network
Litecoin is the first cryptocurrency that comes to Facebook Messenger. Surprisingly, it gained ground and came before Ethereum and Bitcoin. The LiteIM wallet extended its services to this massive social media network on October 31st, when it made the announcement on its Twitter account.
LiteIM already works with Telegram by allowing the sending of litecoins through text messages and now it has obtained the approval of Facebook to conduct transactions from that platform in a more direct way, but without ceasing to be safe for clients. In this way, Facebook Messenger is another compatible application with LiteIM.
“We are happy to announce that @liteim_official is now live on Facebook Messenger. 2Bn + @facebook; users now have direct access to easily and securely, send, manage and invest in Litecoin”.
LiteIM users can import their existing portfolio just by logging in, as indicated by the source. The wallet does not have control over user’s private keys, so they are the only ones who have total control over their funds and to import the wallet.
LiteIM’s Technology Director, Michael Rodriguez, expressed his satisfaction with the launch of this portfolio on Facebook Messenger. During the Litecoin 2018 summit, which took place in San Francisco, Rodríguez commented: “It is already quite huge that the first cryptocurrency on Facebook is Litecoin. This opens the door to a user base of around 2 million people around the world. It is also the beginning for us since we have big plans in mind”.
The entrepreneur spoke about the security measures that they were implemented to prevent third parties from acquiring user’s passwords. There is an option that allows users to change the password, the associated email, and request the portfolio’s private keys.
Rodriguez explained that the main idea is to offer Litecoin to people who do not have access by ordinary ways. “Our ecosystem allows banking authorization worldwide, connecting all networks, including phone numbers through SMS and soon USSD, and people with restricted access to the Internet or technology in general”, he said.
How it will work
LiteIM users interested in using this new service should only log in to Facebook to import their wallet, while those who are not users of LiteIM, but are Facebook’s users, can work on logging in using the following messaging link: m.me /lite.im.
When entering Facebook Messenger, a chat with LiteIM will open, in which users must click “start” and the platform will ask them to accept the terms and conditions.
When starting the registration process, the application requests the main email and a phone number. The application uses an authentication factor trough SMS and redirects the user to an external website.
This idea offers the options of sending and receiving LTC, checking the balance of the portfolio and the history of transactions. To receive litecoins, the portfolio offers the following options: registered email, QR code or using the portfolio’s address.
Litecoin is a blockchain network. It was created by Charlie Lee and has a cryptocurrency code base similar to that of Bitcoin. In Litecoin the software developed for Bitcoin is usually implemented. This characteristic has allowed many test exchanges between the two blockchain networks.
With this new LiteIM service, Facebook is showing signs of opening its doors to accept blockchain technology, despite its initial denial on allowing advertising related to cryptocurrencies.
Cryptocurrency’s field is increasing. Now, more countries are accepting this way of digital payment to make important transactions. LiteIM plans to expand the number of Apps and social networks compatible with its technology in order to reach more users.
By María Rodríguez