The TON Foundation has added crypto payments to Telegram, allowing an estimated 550 million users to send and receive toncoin ($TON) within the messaging app.
This feature is made possible by Telegram’s wallet bot which, apart from enabling users to send and receive Toncoin ($TON), it enables users to also purchase Bitcoin ($BTC) via the ‘@wallet’ bot.
The TON Foundation, the cryptocurrency’s custodian, stated that the goal is to make transferring Toncoin ‘feel like sending a text message.’
An estimated 800,000 Telegram accounts have already utilized the bot.
The Open Network, abbreviated as TON, was founded by Telegram in 2017 to enable decentralized services such as decentralized storage, anonymous networks, DNS, and fast payments through a proof-of-stake (PoS) method.
In its announcement, TON said that the crypto transactions are free while eliminating the need for crypto owners to enter long wallet addresses and wait for confirmations.
To start using the new function:
- Open the @wallet bot and add it to the attachments menu in ‘Settings’ as shown in the pinned video.
To send $TON, all you need to do is complete these two steps:
- Open a chat with another user > tap the ‘PaperClip’ icon to pull up the attachments menu > tap ‘Wallet.’
- Enter the amount of $TON and send it
You’re all set!
The $TON will be instantly transferred to the recipient’s wallet.
The number of new $TON wallets created between April 24 – 30, 2022, grew from 443,708 to 495,959 (+11.8%).
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