We talked about this wallet in detail in the previous article, now it’s time to learn how to use it.
WhatsApp is one of the most widely used messaging platforms worldwide, with more than 223 million quarterly installs of its mobile app for Android and iOS, according to Sensor towerand about 500 million users per day, according to Statesman. Now, this app not only lets you stay connected with your friends, but thanks to the Zulu Republic team, you’ll also be able to transact cryptocurrencies right from the app.
Lite.IMwhich is the name of the walletis a wallet that works directly from WhatsAppand to do this, it uses a software bot or robot that acts as an intermediary between you and your keychain and that you can control from the chat window.
You can manage 4 different cryptocurrencies from this wallet: BTC, LTC, ZTX and ETH.
On the other hand, although it is an atypical wallet compared to others that we can find on the market, This can also be backed up using the recovery schema, which Lite.IM creates when generating the keychain. This allows, in addition to managing it within WhatsApp, it can be imported into a wallet that supports this initial format (12 words in English) and manage your funds in a traditional wallet.
It should also be noted that this wallet is completely disconnected from WhatsApp, so if there is an error, you need to contact the customer directly. Republic of Zulu team.
What do you need to use this wallet?
The first thing is that you have the latest version of WhatsApp installed on your device. In addition, the phone number you use in the messaging application must be an active line and preferably match your phone line number. This is because the security codes will be sent to you via SMS to confirm the withdrawal and also when generating the recovery seed.
Can you use it on WhatsApp Web?
Yes. Since bot management is done through the chat window. If you can chat on WhatsApp web without any problem, you can use this wallet without any problem.
Tips before you start
- Since we are talking about a wallet that is stored on third-party servers, you are working with small amounts of your cryptocurrencies.
- It is recommended that you clear your chat history every time you use it.
- Keep a backup copy of your portfolio to avoid losses.
Connect with the Bot
The first step we will take to use Lite.IM will be connecting to the bot. There are different options for this: the simplest is to enter following linkwhich, if you open it from your phone, will send you directly to WhatsApp.
Here a chat window is opened with the word HODL that when you press send, the process of generating a new portfolio starts.
Another option is that we can write the word HODL directly to the phone number +1(786)9167825, of course, via WhatsApp.
Once the bot responds, we will begin the process of generating our new portfolio. Note that this process may take some time depending on how saturated the bot may be at the time.
Generating Lite.IM wallet in WhatsApp
After establishing communication, the first step will be to choose a language. As you can see, we are presented with an options menu where we can configure English or Spanish. This may change later.
All that remains is to send a message with the number corresponding to the language we choose.
The next step is to mark the secret key. This key allows us to give a level of security to our wallet, since sending shipments or requesting recovery seeds will require us to enter it.
Tip: After the key is sent and the bot confirms, delete your chat history so that your wallet is not compromised.
At this point, you have successfully created your Lite.IM wallet.
When the keychain is generated, the main menu is displayed, as seen in the previous image. From there we can manage the wallet in its entirety.
On the other hand, before you start sending and receiving cryptocurrencies, we recommend that you create a backup, or specifically, protect the recovery seed. And to do that, we’ll choose option 3: Export Portfolio.
Here we will be presented with options that allow us to import either a WIF key (private key) or a recovery phrase. Note that if you want to export and backup the WIF key, you have to do it for each of the four cryptocurrencies managed by Lite.IM, however, using the recovery phrase, you can backup all 4 wallets with the same seed.
For our case, we will choose option 2: Phrase.
Now we will have to enter the code that will be sent to us via SMS. In case you do not receive a code, you can always request a new one using option 1: New code.
With the code confirmed, we will now have to enter the secret key and with it we will be able to see the 12 recovery words. Remember to store them in a safe place, preferably on a piece of paper, away from digital media.
Send and receive cryptocurrencies with Lite.IM
At this point we have already created and backed up our Lite.IM wallet, now it’s time to start trading cryptocurrencies.
You can return to the main menu by sending the symbol “?”.
Receiveyou will need to go to the main menu and select option 1: Receive.
Here you have different options to receive funds into your Lite.IM wallet.
- 1: Digital wallet: Shows us the public address of the cryptocurrency we have chosen.
- 2: QR: The bot will send us an image of our public address along with a QR code abstraction.
- LiteIM: Shows us the phone number or e-mail of our account, to which other users can send us funds.
- Change coins: From here you can change the selected cryptocurrency, since the default currency is BTC.
In our case, we will choose the first option that will allow us to see the public address.
Now that the cryptocurrencies have been sent, all we have to do is wait for the confirmation. It should be noted that in our case, when the payment was confirmed in the Bitcoin blockchain, it did not immediately appear in the wallet. It took up to 3 confirmations for Lite.IM to notify that the payment was received.
Upon receipt of this message, You can now start managing funds within your Lite.IM wallet.
If you want to see transactionsyou can go to the main menu and select option 2: Transactions.
This will provide you with a link to the block explorerin this case for Bitcoin, where you can view the history of your keychain.
In case of shipmentthe first thing we will do is select option 0: Send in the main menu.
When you see this message, you’ll need to enter either a public address –Make sure it matches the cryptocurrency you’ve selected at the time– or you can also enter the phone number or email of a user who has an account within Lite.IM. You can also change the currency you want to send.
Now you will need to indicate in which unit you want to specify the amount to send; you can choose between US dollars or cryptocurrencies. In our case we will choose option 2: BTC.
When you see this message, you will need to specify the amount to send, taking into account the available balance and the unit we selected in the previous step. You can also choose option 1: Send all, which will set the maximum amount you can send, minus the mining fee.
Finally, you will need to enter your secret code to complete the shipment.
See this message Ready! You have successfully sent the package.
Advantages and disadvantages of Lite.IM
When you want to receive funds from cryptocurrency, you need to have a public address of our wallet, to which said funds will be received, however with Lite.IM there are more options. Besides having a public address – and yes, only one address per cryptocurrency – You will be able to receive and send crypto funds using the phone number or email associated with your Lite.IM accountwhich makes sharing easier, especially for new users.
Lite.IM wherever you go
In addition to having a WhatsApp wallet, Lite.IM can be used on platforms such as Telegram, Facebook Messenger, and even with the SMS messaging service.
So, if in your case you want to use Lite.IM for platforms like Telegram or Facebook Messenger, we leave you the links to the corresponding bots below. And as for how to use it, you can follow the same instructions in this guide.
Facebook Messenger: @Lite.im
Portfolio generally leaves a good impression: it’s fast, simple and very friendly to new users. In short, it’s a carry-everywhere wallet, since how many of us don’t use WhatsApp on a daily basis?
Remember that this wallet is stored on a private server along with your data, so it can be said that we are not talking about a private wallet. So as a tip it is smart to manage small amounts and not use them as your main portfolio, because if the bot is saturated, the response time can be quite long.
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