Telegram introduced a new feature that allows users to make crypto payments via TON Token. With the new feature sending crypto is now as simple as sending a message
Telegram Wallet Bot Now Accepts Crypto Payment
With Telegram’s newest feature, sending crypto is now as simple as sending a message.
The Open Network (TON), the messaging app’s official wallet bot, is now accepting crypto payments.
The instant messaging app announced on Twitter on Wednesday that it would be rolling out crypto sending and receiving via TON Token.
The messaging app is the first-ever messaging app to allow for quick, secure, and hassle-free crypto payments, which is yet another innovation.
TON is launching a new bot that will allow Telegram’s millions of users to send and receive cryptocurrency payments via chat. The best part is that transactions are completely free. Yes, you can send and receive crypto payments with no transaction fees right in the middle of a conversation.
Users must first download and install Telegram’s Wallet bot in order to take advantage of this fantastic feature. Users can now buy cryptocurrency with their bank cards and then transfer or exchange it for other wallets.
TON Coin Wallet Feature
The Open Network (TON) was created by the messaging app in 2017 as a proof-of-stake mechanism for decentralized services such as decentralized storage, anonymous networks, DNS, instant payments, and others.
Telegram abandoned TON in May 2020 after a protracted legal battle with the US Securities and Exchange Commission.
Crypto payments are almost instantaneous with TON. Users are not required to enter long wallet addresses or wait for confirmations. By simply clicking the Wallet icon in the messaging app, users can send TON coins or BTC to others.
They can then send Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” icon in direct messages, according to the company.
Since its inception, Telegram has been a crypto partner. And now they’re announcing a game-changing feature that allows users to send and receive crypto payments on a messaging app in a faster, more seamless, and more reliable manner.
Telegram And TON Past Saga
TON uses 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.
Telegram was accused by the Securities and Exchange Commission of selling unregistered securities through 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 ruled that the company is not permitted to distribute Gram tokens to foreign investors or those residing outside the United States.
They decided to entrust the TON coin to the TON Foundation following its demise. Users must have the latest version of the Open Network app installed in order to send TON coins using the new wallet bot, according to the company.
Telegram Aims To Simplify Crypto Payments
Telegram aims to make cryptocurrency transactions as simple as possible in order to encourage widespread adoption.
Payments using the messaging app and the TON coin are now available to the general public, making cross-border transactions cheaper and faster.
The goal is to make crypto payment solutions a commonplace part of daily life. This one is a definite hit with Telegram users.
