Kik Messenger App to Launch Its Digital Currency in the Era of Bitcoin

After the “Wannacry ransomware” malware attack, the importance as well as the value of the bitcoin, a digital currency, increased to a great extent. Today, the value of bitcoin is Rs 1, 58,866, which is a huge amount.

Kik Messenger App to Launch Its Digital Currency in the Era of Bitcoin

Looking at the bitcoin’s significance in the market, the messaging app called Kik Interactive has planned to launch its own fund-raising resource. The new quirky form developed by the potentially well-established company will be its latest development. Currently, the messaging app has only unveiled its plans of initial coin offering. In this process, the app will try selling out its tokens which can then later be used to buy services present on its own platform.

Kik, a company based in Canada, plans to encourage more and more people to use Kik so that the value of its token called “Kin” will increase. Due to the increase in the value of bitcoin along with the rising prices of the virtual currency, the interest in the coin offerings has increased to a great extent. The initial coin offerings or ICOs give the people a chance to invest in any business or any other area of interest without any hesitation.

According to a blog called “The Control,” there are many investors spending almost $330 Million on the tokens since a long time. The value of the cryptocurrency has proved to be popular in today’s generation. For instance, a cloud-storage start-up company named “Storj” used the ICO to raise around $30 Million in just five days.

Lately, there are investors including Tencent Holdings Ltd raising about $120 Million in the app. The interest in the investors itself proves that Kik will be one of the largest used cryptocurrency in the world in the future.

Kik is mostly popular among the youngsters as it does not require a phone number like the other apps such as the WhatsApp or Facebook Inc.’s Messenger app. However, the user’s rate is declining due to the growing smartphone and Facebook or WhatsApp craze among the youngsters. Thus, Kik plans to boost its popularity by lending some Kin to its users so that they can buy games, digital products, or live video streams.

The company basically wants new investors or merchants to use its platform to sell and increase the value of Kin. The app has an existing in-game token system, which will soon be replaced by the Kin.

Kik only wants to create an economy where millions of people can not only earn in cryptocurrency but also spend in the same way.