TelegramWallet Bot now allows users to exchange encryption with each other

TelegramWallet Bot now allows users to exchange encryption with each other

  • Buyers can use USD, EUR, UAH, BYN and KZT to purchase cryptocurrencies
  • Only TON and Bitcoin (BTC) can be purchased at the moment and TON can only be transferred via chat messages

The developers behind TelegramWallet Bot, which allows Telegram users to purchase cryptocurrency with a bank card, exchange and transfer to other wallets, has launched a P2P crypto exchange.

The Wallet Bot was launched in April, allowing Telegram users to buy and send toncoin (TON) within chat messages. The latest update will allow cryptocurrency to be sold between users through the Telegram app, where the exchange services act as guarantor for each transaction. In the event of a dispute between the seller and the buyer, the service will conduct a dispute settlement process.

The service was presented as offering “anonymous P2P deals”, however, users must share their mobile phone number with the bot in order to deposit, exchange or buy cryptocurrency.

Users who want to sell cryptocurrency will pay a 0.9% commission, while buyers will not need to pay any fees, according to a statement from the developers of the Wallet bot.

To sell tokens, users will post notifications in the app that buyers can choose from. Buyers can use USD, EUR, UAH, BYN, and KZT to purchase cryptocurrencies.

Toncoin (TON) and bitcoin (BTC) are available for purchase right now, with plans to increase supply at a later time, according to the company. TON can only be sent between users directly through chats.

“It is geared towards ordinary users and provides a low entry threshold for blockchain exposure. Many of the services on TON are similar to the usual applications that people are already used to,” a TON representative told Blockworks.

“Without leaving Telegram, you can buy cryptocurrency, send it to your friends using a short pseudonym without long wallet addresses, access the Internet using the botmobile, and pay to subscribe to your favorite Telegram channel along with many other services,” the representative said.

The TON blockchain was originally founded by the Durov brothers, founders of Telegram Messenger. Telegram had previously intended to release an official code, GRAM, but it was forbidden to do this By the Securities and Exchange Commission (SEC) in 2020, it was forced to return the $1.2 billion raised for the project to investors and pay a fine of $18.5 million.

The TON Foundation “is a decentralized community started by Anatoly Makosov and Kirill Emelianenko after Telegram moved away from the project,” According to her website.

“One of the goals is to integrate blockchain technology with the traditional internet,” the spokesperson said. “To further this decentralized concept, TON is creating its own ecosystem, which already includes DNS, sites, and proxies.”

The total number of custodian accounts has risen to 1.3 million according to stats page Made by the group, however Toon Scan Block Explorer No information has been shown at the time of publication.

The TON community Telegram She has 630,000 subscribers.

The TON token is trading at $1.39 as of 9:00 AM ET, with a market capitalization of approximately $1.7 billion and a circulating supply of 1.22 billion tons, to me CoinMarketCap.

McCauley Peterson contributed reporting.

This story was updated on October 4 at 10:09AM ET.


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  • Bessie Leo

    blockworks

    Reporter

    Bessie is a New York-based crypto reporter who previously worked as a technical journalist for The Org. She completed her MA in Journalism at New York University after working as a management consultant for over two years. Bessie is originally from Melbourne, Australia. You can contact Bessie at [email protected]

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