Users of the Telegram are now able to purchase and sell cryptocurrencies without having to leave the application thanks to a recent upgrade of the app’s wallet bot. Developed by The Open Network (TON), the bot initially enabled users to buy, sell and trade Toncoin with the Telegram app.
Now, a new update has added a fully functioning cryptocurrency wallet to the app. Telegram’s developers created the wallet bot to simplify crypto transactions for users. A spokesperson for the TON Foundation said the development was achieved by an independent team. The company is excited about more projects opting for TON as the basis for creating new products.
It believes TON makes the use of blockchain no more complicated than using applications that users are used to. The wallet bot, a fiat on-ramp, allows users to buy TON using their credit cards within the Telegram app. However, it currently supports USD, Euros, Ukrainian hryvnia, Kazakhstani tenge, and Belarusian rubles.
The exchange service facilitates transactions, functions as a guarantee, and resolves any required conflicts that may arise between the two parties involved. While one party can carry out the transactions in complete anonymity, users must provide the bot with their cell phone numbers before participating in any cryptocurrency-related activities made accessible by the application. The good news is that the wallet bot doesn’t charge any fees for buying crypto. But sellers will be charged a commission fee for each complete transaction.
As for now, the app can only be used to purchase Toncoin and Bitcoin. The TON Foundation has plans to expand the number of cryptocurrencies available for purchase.