Telegram Introduces Crypto Payment Via Chat

Sending crypto is now just a message away with Telegram’s newest feature.

The messaging app is now introducing crypto payments via The Open Network (TON), its official wallet bot.

On a Twitter post-Wednesday, the instant messaging app announced that they would be rolling out sending and receiving of crypto via TON Token.

This is yet another innovation from Telegram because it’s the first-ever messaging app that will allow quick, secure, and hassle-free crypto payments.

TON is adding another bot that will allow millions of Telegram users to send and receive crypto payments via chat easily. Best of all, transactions are for free. Yes, you can send and receive crypto payments at zero transaction fees right then and there while chatting.

Convenience at its finest!

Telegram Offering TON Coin Wallet Feature

Users will need to download and install Telegram’s Wallet bot to use this amazing feature. With that in place, users can freely buy crypto using their bank cards. They can then transfer or exchange it with other wallets.

With TON, crypto payments are pretty instant. Users don’t have to put in lengthy wallet addresses and wait for confirmations. Users can easily send TON coin or BTC to others by simply clicking the Wallet icon found in the messaging app.

According to the company, they can then send Bitcoin (BTC) or Toncoin to other users. You just have to simply click on the “Wallet” icon in direct messages.

Telegram has been a crypto partner ever since its inception. And now, they are unveiling a groundbreaking feature that allows a faster, seamless, and reliable way to send and receive crypto payments on a messaging app.

Telegram And TON Coin Saga

TON used a proof-of-stake mechanism and was established in 2017 geared toward DNS, decentralized services, and instant payments.

Telegram and TON coin had a falling out in May 2020 because of a legal impediment with the U.S Securities and Exchange Commission.

The SEC accused Telegram of selling unregistered securities with its Initial Coin Offering (ICO). The agency filed a complaint after the messaging app was able to raise $1.7 billion from a private token sale.

To make matters worse, a New York judge has decided not to allow the company to distribute Gram tokens to foreign investors or those outside of the United States.

They decided to entrust the TON coin to the TON Foundation following its exit. Further, the Open Network instructed users that in order to send TON coins using the new wallet bot, they will need the latest version of the app installed.

Simplifying Crypto Payments

Telegram aims to simplify cryptocurrency transactions to fuel mass adoption worldwide.

Payments with the messaging app and TON coin hits the mainstream making cross-border payments cheaper and faster.

Here, the goal is to make crypto payment solutions a part of everyday life. This one definitely hits the mark with Telegram users.

Author: admin