Telegram allows users to send crypto
Telegram revived its Toncoin (TON) blockchain project to enable in-app crypto payments similar to Twitter’s Bitcoin payments
By Shashank Bhardwaj
Image: Shutterstock
Telegram Messaging App announced on Twitter that users will now be able to send cryptocurrencies in the app via Toncoin. To access the crypto payment feature, users must opt in through the application’s official Wallet Bot. This feature is limited to current BTC and TON cryptos. Telegram has 550 million users now.
Users can click on the ‘Wallet’ icon in the message directly to start using the feature. Users will be able to send BTC and TON without transaction fees. The tweet said that users would no longer be required to ‘enter a long wallet address and wait for confirmation.’ The bot is already used by 800,000 Telegram users, the TON Foundation reported.
The TON Foundation said, “We hope this functionality will extend consumers to business payments so that people can easily access goods and services by sending Toncoin through bots in the Telegram app.”
The TON Foundation website states that 52 million transactions have been made across 486,000 wallets to date. Recently, the foundation was able to raise $ 1 billion worth of TON tokens from Telegram users for the advancement of the Telegram ecosystem.
The TON Foundation, which was abandoned by Telegram in 2020, is re -launched to launch this feature. TON is a layer-1 blockchain developed by Telegram to deliver decentralized services like anonymous networking, decentralized storage, instant payments, DNS, and more, in 2017. The crypto payment feature introduced by the TON Foundation is similar to the Tip Jar feature on Twitter. Twitter enabled the feature in September 2021. The feature only allows Bitcoin payments to be facilitated through third -party payment platform Stripe.
