Telegram to accept crypto payments

Telegram, the encrypted instant messaging platform, will now enable its users to send and receive cryptocurrencies.

The decentralized blockchain designed by Telegram, The Open Network (TON), will add a feature for the app’s 550 million users to send crypto while using the instant messaging service.

Toncoins can be sent and received, with app developers stating that such transactions will come without any additional fee.

A tweet announced by TON on Tuesday April 26 said: “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.”

The TON Foundation manages the Toncoin token and it has been added that users will be able to buy bitcoin (BTC) within the app. Any of the 800,000 Telegram account users who want to take advantage of the new wallet to send Toncoin must download the very latest version of the instant messaging service.

In a press release, a TON Foundation spokesperson voiced its anticipation for the new feature, saying: “It is hoped that this simplification of the cryptocurrency transaction process will enable greater adoption around the world, and help to embed blockchain payment solutions into people’s daily lives.”

Telegram is not new to the world of crypto and it has previously given up on the ideals of creating its token after the Securities Exchange and Commission (SEC) filed a formal complaint stating the instant messaging service has unregistered securities after carrying out a private token sale (one that raised a huge $1.7bn).

Furthermore, Telegram then was requested to hand $1.224bn back to investors.

You can still play it safe with cryptocurrencies using secure and trusted sites like Bitcasino, 1xBit and FortuneJack.


Updated: 04/29/2022 — 13:00