Crypto Payments Enabled on WhatsApp; Is It Raising Serious Security Concerns?

By Nivesh Rustgi
Published March 26, 2019 Updated March 26, 2019
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Crypto Payments Enabled on WhatsApp; Is It Raising Serious Security Concerns?

By Nivesh Rustgi
Published March 26, 2019 Updated March 26, 2019

The long-awaited integration of WhatsApp and Bitcoin is finally here. However, some security concerns need to be addressed before wide-scale adoption.

Wuabit is a cryptocurrency wallet that is accessible via chat. They recently announced the completion of their Messaging Bot that would successfully integrate with the largest messaging App in the world, WhatsApp.

A Wuabit spokesman told the Express: “We have nearly completed the wallet core service starting with BTC.”

The Bot will be added as a ‘contact’ on the WhatsApp list. Messages to the Waubit Bot will be sent in order to execute the transfer of cryptocurrency.

Waubit on WhatsApp

The Wuabit Assistant bot will recognize the messages sent via the messaging app. For example, ‘Send 0.1 BTC to John’ will be accepted by the bot, and 0.1 BTC will be transferred from the Wuabit Wallet of the sender to the Wuabit BTC wallet of the receiver. Wuabit will also allow accessing current and future blockchain services from any chat app at market prices to smart-contracts.

The details of the Mobile Wallet App has not been released yet. The Public beta version of the App is expected to go live next month in April 2019.

Interoperability Issues

The transaction through the third party would require the same Wallet Application on both the devices. However, Bitcoin payments must involve only the public addresses of the receiver, and the public and private address of the sender. Hence, it essentially creates a singular channel of payment using Bitcoin but fails to facilitate full-scale Bitcoin payments.

Nevertheless, with time public addresses it could be included directly in the message to execute Bitcoin (BTC) or cryptocurrency transactions.

Feasibility and Security Concerns

Even before the Waubit BTC bot, a number of tipping bots and other integrations were introduced on Telegram and Twitter. However, Twitter is primarily used as a public social media platform while WhatsApp is a personal messaging application. Therefore, executing payments on WhatsApp through bots would be cumbersome, as it would require maintaining the Wuabit Wallets as Hot-Wallets.

Moreover, a cryptocurrency Wallet supported by WhatsApp would essentially provide a secure Wallet with a password and biometric protection. However, the value can be spent instantaneously via the Waubit Bot on the messenger without any security check or confirmation. Hence, the Messaging App integration which is a big step towards cryptocurrency adoption might raise doubts on its privacy and security.

Regardless, AI bots through messaging applications allow development of cryptocurrency towards mainstream adoption. It would also add numerous new customers to the cryptocurrency sphere, allowing for efficient global payments.

Do you think that crypto-payments through Mobile Applications like WhatsApp will finally replace Banking Institutions for good? Please share your views with us. 


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Nivesh Rustgi
1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)

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