Bitcoin Forum

whatsapp can be used for cryptocurrency transactions. with bot lite.im, now this application can be used for an easy-to-use online wallet.

https://dailyhodl.com/2019/05/20/crypto-integration-allows-1-5-billion-whatsapp-users-to-send-bitcoin-btc-litecoin-ltc-and-ethereum-eth/

So what is your response to this? Will this have an impact on increasing the volume of daily cryptocurrency transactions?


I personally understand this is good, but it won't have a big impact. because before whatsapp, Telegram already had this feature even better. there are many wallet bots that can be used to store, send and receive altcoins. while on Whatsapp only supports bitcoin, litecoin and ethereum.

so what do you think?

If this is true, then it's not good. For whatsapp to integrate this feature will make the app buggy and unstable. Considering how whatsapp works, it's a bad idea to my best of knowledge. There is no security to protect the wallet on whatapp

It is more about managing. We agree that whatsapp can be tracked, and if so, the traditional way is more attractive. It is also possible to track transactions from Blockchain, yes, but here your identity becomes clear. Maybe this way will be easier, but there should be always be better choice.

No offense for them but we already have a good online wallet like blockchain or any other forms of wallet why would we even use it?
It is good to see them adopting crypto but for me they should just stick to what's their good at and what's their app is supposed to be.

I find it risky to transact in WhatsApp because I don't find it safer and more secure than the wallets that we have. It's a good thing that crypto transactions could be done easily in applications like whatsapp because it could provide us the convenience that we want but it would also bring us a higher risk of getting scammed.

I was very surprised by this news. At first I thought this was just a plan. This is the development of technology now, that WhatsApp can already do crypto transactions. But I have never tried to make a transaction.

It will not make your WhatsApp app unstable because the wallet and your WhatsApp chat are operating on two different system while the wallet use the not you messaging use the real WhatsApp features. And I believe this is a good development to be able to set up wallet within WhatsApp but what I don't know is if one can recover the wallet the same way you recover your WhatsApp.

I think they made the product to make sending cryptocurrency easier, using web wallet like blockchain needs the address to be identified if it was your friends, with whatsapp identifying the owner is much easier.

Its actually a good innovation and I respect the wisdom behind it.

How does it work? Have you tried it yourself?

You can read full details on this article: https://bitcoinist.com/you-can-now-send-and-receive-bitcoin-on-whats-app/

Everyone who wants to try it is required to add a bot named "Lite.Im". If that article isn't enough for the explanation and you need more visual graphics and presentation to understand the process, just search on youtube for those tutorials and presentations.

You'll find many of them there.

Great to see an innovation within an IM. But that has been done a long time ago with the telegram.
The problem with tipping and sending with bitcoin are the transaction fees. Though implementation of lightning network would solve that problems. So, we all need to focus on lightning to get bitcoin to mainstream.

the problem with all of these "bots" is that they are super risky to use and also more importantly they introduce a lot of centralization because these transactions are not exactly "transactions" they are transfer of IOUs between accounts in their database so technically speaking you wouldn't be even using cryptocurrencies!

The WhatsApp crypto transaction function is miniature compared to what we've seen on telegram already. Well, it's a welcome development still helping crypto go mainstream. The more people get to know about crypto and it's validity, the better chances for adoption mainstream. We look up to more integration, some projects are already talking about sending crypto via twitter handles, whereby the handle will be pegged to a user's wallet address. The CEO of Twitter has also been encouraging with crypto. Now Facebook coin in view, this was a surprise to the world. Imagine facebook banned crypto ads in the past, now they see reasons to create a stable coin (Global coin) 🤔,  amazing right?

Yes that is an interesting thing that has happen to crypto and with this we are going main stream and more adoption by looking into how many people use WhatsApp to chat in the whole world .

Crypto is getting there soon its just a matter of time and that will be great for the the blockchain technology.

is it true? i have not tried whats app for quite a long time
the question here is the security that they can provide , i think their credibility is poor in this matter.

Is the bot trusted and secured enough?
I don't know yet about the official release from WA for crypto transactions.
However, if it happens, I only think about the security of the transaction, the speed, and also how it works. For now, still, have no exact idea about this.

I think crypto transactions with whatsapp will not make any big difference. Telegram has already used this feature so it will not give big impact, because the feature and benefit still the same.

Too risky and not worth the assets that will be lost later. I personally have been quite satisfied and comfortable with various wallets available. I don't need the bot and I won't try it.

This will not have an impact on increasing crypto daily transaction volumes, because the crypto community knows what they need and use.

I do not like WhatsApp, data theft often occurs with WhatsApp application. Even whatsapp systems are very easily controlled by third parties. So what about cryptocurrency, who can guarantee security. Moreover crypto no one wants to be responsible if there is a loss.