Have you heard about cryptocurrencies ? These large virtual currencies are operated like any other traditional currency. There are increasingly more accessible options when making an online payment. And currently many applications have been incorporating them into their payment methods. Such is the case of WhatsApp , that is why in this post we teach you a little more about cryptocurrency payments on WhatsApp.
Cryptocurrency payments on WhatsApp
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What are cryptocurrencies?
To start, what exactly are cryptocurrencies ? A cryptocurrency is a digital asset that is not regulated or controlled by any institution and does not require intermediaries in transactions. A decentralized database, blockchain or shared accounting record is used to control these transactions.
These can be considered an alternative to traditional currencies, but they are considered a conventional form of payment. Many stores now accept cryptocurrencies as a form of payment.
Now, cryptocurrencies do not exist physically, they are stored in a digital wallet . You may wonder why top 8 kpis you should track on shopify add them to WhatsApp ? Easy, since WhatsApp is one of the platforms with which you can sell the most.
If you have any questions, check out our post Why sell on WhatsApp? Everything will make sense when we talk about cryptocurrency payments on WhatsApp.
Big news!
There is a big news today. There is the Meta digital wallet or cryptocurrency wallet from Meta Platform INC (Facebook) called Novi.
Through it, users will be able to send and receive money through WhatsApp chats . This is done through a “ stable coin ” whose value is linked to the US dollar.
Novi , the flagship tool, was launched in mid-October in the United States and Guatemala. Therefore, it only operates in these two countries.
WhatsApp CEO Will Cathcart
Explains on Twitter that many people use WhatsApp to coordinate sending money to family and friends, but on external platforms. Now, Novi will help them do it safely, instantly and without any cn leads additional fees or charges.
On the other hand, Novi ‘s manager , Stephane Kasriel, went to his Twitter account and explained a little about the process of the news. He explained that you only need to be registered on the payment platform and then link it to your WhatsApp account . From there, the process is the same as sending a message, photo, video, etc.
He also explains that the user will have to open the attachments menu in the conversation, and the option to send the money and the amount will appear. The process is as simple as sending a message. In addition, the transfer is immediate, with no limits on sending frequency or commissions.
Kasriel also mentions that Novi is relatively new and that is why they made the decision to test it in just one country (the US). It is only a pilot test. They will then look to extend it to other countries. Of course, once they have feedback from users about this new experience.
Finally, he mentioned that using Novi does not change the privacy of personal messages and calls on WhatsApp.
Payment methods are becoming increasingly easier. This is the case of paying with cryptocurrencies on WhatsApp . I don’t think anyone would have imagined that you could pay through a platform where you could also talk to friends and family. It’s impressive, don’t you think? Of course, in this case we are only talking about a pilot test.
What do you think? Do you think cryptocurrency payments on WhatsApp will ever become a reality in the rest of the world? Leave us your comment!
