Telegram Instant Messenger & Cryptocurrency
Telegram is a cloud-based instant messaging app, that has over 550 million active users, majorly used to send or receive texts, media files, documents etc. Now with the recent update platform has allowed its users to share cryptocurrency. Users are allowed to send and receive crypto payments directly from the conversations, just like WhatsApp’s UPI payments. In the form of payments, users can trade Toncoins within the app as per tweeted by The Open Network (TON) Foundation. The tweet is posted with a video explaining how a person can execute Ton transactions after adding Telegram’s Wallet Bot to the attachment menu, which allows them to “purchase cryptocurrency by bank card, exchange, and transfer to other wallets.”
A Non-profit, Ton Foundation said, “You can now send Toncoin directly within Telegram chats. It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.”
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Developers of ‘Telegram Open Network’ (TON) had announced last week that through the donation they managed to garner $1 Billion to advance their development efforts.
The video accompanied by the tweet said, users can transfer Ton Coins without paying any transaction fees and without entering the lengthy wallet addresses that results in waiting for confirmations. It’s a integrated lightning fast network system allowing users to save time and execute transactions without any complex process.
This new crypto transaction system came after a long conflict of two years between Telegram and the Securities and Exchange Commission (SEC) in 2019, which forced the instant messaging platform to shut down its cryptocurrency projects.
Similar to Telegram’s crypto payment system, Twitter also allows Bitcoin payments through its Bitcoin Lightning System.
