What Litecoin (LTC) Gets from Being the First Crypto on Facebook Messenger
While it has been rumored that Litecoin will get to Facebook as the first cryptocurrency payment method already at the beginning of 2018, harsh Facebook policy on cryptos and new ICOs have put this idea on hold for a while.
However, since the social network company with over 2 billion users worldwide changed their opinion on cryptocurrencies, starting their own blockchain project, at the end of the last quarter of the year Litecoin finally got to Facebook as one of the payment methods available on Facebook Messenger.
Litecoin will at the same time represent the first cryptocurrency that got to this major social network giant, marking a near historical achievement in the world of cryptocurrencies as far as the adoption concerned.
This wouldn’t be possible without Lite.IM that previously enabled Litecoin based payments through Telegram and SMS.
Litecoin is Available on Facebook Messenger with Lite.IM
Lite.IM has previously allowed Litecoin based payments where users were easily able to receive and send LTC through Telegram messaging or SMS, or safely store them in their Lite.IM wallet.
As announced weeks ago, Litecoin became the first cryptocurrency that got to Facebook Messenger as a way of sending payments to your friends and relatives.
Previously, after taking a break from the harsh regulations and bans on cryptos within Facebook social platforms, Zuckerberg soon approved and started a separate department for studying blockchain, which means that LTC based payments might only be the very start of Facebook projects that honor blockchain.
For now, Facebook Messenger users can send and receive Litecoin based payments through Lite.IM, while Litecoin is said to be the perfect choice for the messaging app given the fact that Litecoin enables micropayments.
Litecoin is also considered to be “light,” and should have adopted 10 times lower fees in the near future as the team is planning on updating Litecoin Core to version 0.17.
What Does Litecoin Get from Facebook Messaging App?
Facebook messenger is most certainly one of the greatest social network platforms, also being one of the pioneers in the sector of social networking on the head with Mark Zuckerberg.
Although there have been some privacy concerns regarding how Facebook used its users’ data without the users’ approval, using cryptocurrency based payment such as Litecoin is surely safe and secure since it is done through blockchain integration and powered by LIte.IM.
At the same time, the availability of LTC on Facebook’s messaging application as the first cryptocurrency is said to be able to bring LTC close to adoption in the long run as the messenger is used by over 2 billion people worldwide.
Litecoin is said to become even more attractive with lowering the fees by 10 times with the next update, however, the by far integration of Litecoin with HTC Exodus crypto phone and Facebook Messenger adoption aren’t reflecting on the value of Litecoin.
So, while Facebook might be a solid medium for LTC adoption in the future, the importance of the availability of Litecoin payments on the messaging app of one of the biggest social network is still not physically depicted in the price of LTC in the market.
As the market is headed towards another massive decline, Litecoin has gone below the initial value of 30$, “threatening” to get below 20$ with the next dip as December continues in bearish trends.
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