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Lite.IM Dethrones Facebook After Integrating Crypto Wallet With Popular Messaging Platforms

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Lite.IM

With the crypto markets in turmoil, especially after news about a potential hack at Cryptopia, traders and investors need to turn their attention away from day trading.  Instead, crypto traders really need to think long-term and identify projects that are sure to win in the long-term.  In particular, one crypto company is making major headlines after winning an all-important technology battle against the mighty Facebook.  That company is Zulu Republic (ZTX).

Zulu Republic Develops Lite.IM

Zulu Republic is an ecosystem of blockchain tools and platforms, designed as a place where people, businesses, and organizations can thrive on their own terms.  And indeed, Zulu Republic has hit a grand slam with their development of Lite.IM.

Lite.IM is a crypto wallet that has been integrated with several of the most popular messaging platforms such as Facebook Messenger and Telegram.  In addition, users in the U.S. and Canada can also exchange and manage crypto balances through SMS.  Although not all cryptocurrencies are available, the team has selected four of the most popular currencies which include Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and the native currency of Zulu Republic (ZTX).

Telegram and Facebook Messenger are extremely popular platforms.  But, potentially even more exciting news, is that the Lite.IM team plan to announce WhatsApp integration in the next 1-2 weeks.  There is a reason why Facebook acquired WhatsApp in 2014, for approximately $19 billion.  WhatsApp has some truly jaw dropping statistics:

  • 1.5 billion users
  • 1 billion daily active WhatsApp users
  • 60 languages supported

To put those numbers into context, Facebook Messenger has approximately 1.3 billion users and Telegram has approximately 200 million.  So clearly, the integration of Lite.IM with WhatsApp will be a milestone achievement.  And what’s even more impressive is that it was accomplished before Facebook.

Lite.IM Values Privacy Rights

In late December, Bloomberg reported that Facebook would create its own cryptocurrency for money transfers within its highly popular messaging application, WhatsApp.  Specifically, Bloomberg had the following to say:

Facebook Inc. is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter.  The company is developing a stablecoin — a type of digital currency pegged to the U.S. dollar — to minimize volatility, said the people, who asked not to be identified discussing internal plans.  Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin…”

There are a few interesting things to take note of.  First, while India certainly has a massive user base, it seems odd to focus on one particular country.  Marketing the cryptocurrency to India and the rest of the world are not mutually exclusive actions.  So, it seems that Lite.IM is superior in this regard as it is focused on capturing a global audience, rather than a regional one.  Second thing to take note of is Facebook’s seeming inability to protect privacy rights.  They’ve been at the center of numerous privacy scandals including:

  • Russia Election meddling
  • Cambridge Analytica data breach
  • Facebook computer network data hack

Now it’s not entirely fair to single out Facebook.  It seems that many companies in today’s world are having trouble protecting their customers’ data.  But those other companies aren’t attempting to start their own cryptocurrencies, Facebook is.  Cryptocurrency, by its very definition, demands the strictest forms of security and protection.  And while I have my doubts about Facebook’s ability to protect users, I don’t have the same doubts about Lite.IM.

With Lite.IM, customer’s private keys are RSA encrypted with their password.  And unlike Facebook, Lite.IM doesn’t ask for that information and therefore cannot store it.  Facebook has clearly had issues with third parties gaining access to users’ data.  Because of the approach that Lite.IM has taken, third parties have no chance.  Users can rest easy.

Simplicity of Using the Lite.IM Wallet

When new technology projects attempt to gain global adoption, the key to success simplicity.  Not everyone is going to have the same technical skill.  So, it’s imperative that projects be intuitive and fairly easy to use.  Fortunately, Lite.IM is just that.

In order for users to purchase, send, receive, and manage their cryptocurrencies on the previously mentioned platforms, all they need to do is send text-based commands to the Lite.IM bot.  The Lite.IM bot links on the messaging platforms are:

  • Facebook Messenger – @Lite.IM
  • Telegram – @LiteIM_bot
  • SMS – 760-LITEIM-0 (760-548-3460)

While the link hasn’t been revealed yet for WhatsApp, it certainly will be just as easy to remember and use as the above ones.

Global Adoption of Cryptocurrency

On Zulu Republic’s website, their stated mission is to advance the development of decentralized technologies, to promote human rights and empowerment around the globe, and to reduce the global digital divide.  This is an admirable mission and one that can be accomplished through global adoption of cryptocurrency.  In many parts of the world, inflation is a major problem.  Citizens of many countries face the struggle of working long hours for little pay, and then have to watch their hard-earned savings erode because of government mismanagement.

One way to combat inflation is through promotion and marketing of cryptocurrency.  A good example of this is Venezuela, where many citizens are accumulating and actively using cryptocurrencies to preserve their savings.  The main problem with cryptocurrency is how to get started.  Many potential users are scared off either because of their limited knowledge or the difficulty in getting started.  And with all of the reported hacks, it’s no wonder why many are skeptical.

Lite.IM has taken giant steps toward reducing the stress and uneasiness that new users might feel.  Being able to manage one’s cryptocurrencies in a comfortable and familiar environment (Telegram, SMS, and Facebook Messenger) will do wonders toward increasing global adoption of cryptocurrency.

Bottom Line

When Facebook announced its desire to develop a stablecoin and integrate it in WhatsApp, many people assumed that Facebook’s dominance in this space would be a foregone conclusion.  But that is certainly not the case.  With the development of Lite.IM, a wallet that is intuitive, easy to use, and privacy oriented, Facebook is now left wondering what it must do to catch up.  Either way, Lite.IM is a pioneer in this space and traders should certainly put ZTX on their radar.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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