Litecoin now Accessible to 2Bn+ Facebook Users with Lite.IM Messenger Wallet

Litecoin (LTC) transactions are now available to 2 Billion plus Facebook users who can access Litecoin using the Messenger.

The Zug based Blockchain startup Zulu Republic has expanded its services to Facebook messenger making Litecoin accessible to Billions of users who “now have direct access to easily and securely, send, manage and invest in Litecoin.”

The company started off by launching an SMS wallet which can be accessed by people who don’t have smartphones. In August Lite.IM rolled out on the Telegram messenger app through which users can get access to Litecoin though simple send and receive commands.

Now the company has extended these features to Facebook which has the highest number of users amongst any social media platform. It is intended to make Litecoin easily accessible to people who have no access to banks or financial institutions.

Lite.IM does not control the private keys of the user hence mitigates the risk of a central point of failure. It intends to make Litecoin usable to people who don’t have much idea about Cryptocurrencies and those who do not have proper access to a good internet connection.

LiteIM Tweeted:

Michael Rodriguez, CTO of LiteIM said:

It’s pretty huge. The first crypto on Facebook is Litecoin. This opens the door to a user base of around 2 billion people, all over the world. It’s also only the beginning for us. We have big plans in store!

The company is targeting the larger audience to fulfill the “Bank the unbanked” Vision of Cryptocurrencies.

He adds:

By connecting everybody in first world countries to their platform of choice, it makes it easier to send Litecoin. Instead of knowing someone’s Litecoin address, which is cumbersome to some users, you can send to someone with just their email address or phone number in mind. Way easier. And soon we will enable invoices, which will make accepting payments for merchants easier than ever. Stay tuned!

Blockmanity’s Take

Usability and user experience have not been that great in the Crypto space yet, users still need a certain amount of technical knowledge and a sophisticated approach to not lose their funds. Private key management one among the complicated aspects, LiteIM is making it easier for users to send and receive Litecoin using other mediums like Telegram and Facebook.

This is good news for the adoption of Litecoin, especially by the unbanked citizens all around the world.

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