Telegram messenger app has launched its cryptocurrency wallet feature for its users as per its Telegram Open Network (TON) Foundation. With this feature, users can easily buy, sell and transfer cryptocurrency by using their bank or credit/debit cards. This feature makes it very convenient for users to make and receive crypto payments using Telegram.
TON Foundation said in a statement, “We expect this functionality to expand into consumer-to-business payments, allowing users to quickly purchase products and services by sending Toncoin using the bots”.
How to Enable Crypto Payments On Telegram?
If you are also willing to try this unique feature by Telegram then you have to download Telegram’s official wallet bot in your messenger, which allows users to buy, trade, and send cryptocurrencies to other wallets.
Steps to quickly enable crypto payments in Telegram:
- To enable this feature open your Telegram messenger and search for “wallet”. The “wallet” is a bot by Telegram to enable crypto transactions.
- After adding the Telegram wallet bot users can start making transactions by running the command “/start” and then attaching it to the menu.
- Then you need to share your phone number linked to Telegram for verification of your account and start making financial transactions.
- After successful verification of the phone number you can search for the recipient’s name you want to send, then after confirmation of all recipient’s details click on the “Send” button,
- After a successful transaction, your recipient will receive Toncoin through the chat.
According to TON Foundation, 800,000+ accounts have already been created and 52+ million transactions have been processed over 486,000 wallets.
The benefit of using Toncoin to transfer is that users do need not to pay any transaction fees. And users do not need to enter long wallet addresses and wait for confirmations. Just search the name of the recipient and send.
The main technology behind this development is developed by Telegram Open Network (TON) blockchain technology. This technology was abandoned last year and now Telegram CEO Pavel Durov revealed they are still working on the development of this technology, he said: “I am proud that the technology we have created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain space”.