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Telegram Allows Users To Send Crypto


www.cryptovibes.com 04 May 2022 11:10, UTC
Reading time: ~2 m

On May 2, The Open Network said that Telegram supports Toncoin transactions without any fees. Telegram users can now send Toncoin on chats within the application. Taking to Twitter, TON (The Open Network) announced that Telegram supports Toncoin transactions without any fees.

Notably, it also shared a small video showcasing how cryptocurrency transactions work on the platform. Based on a report published by Verge, users will need to add Telegram’s Wallet bot to the attachment menu for buying crypto by exchange, bank card, and transfer to other wallets.

Users will need to pull up the Wallet from the attachment menu, then enter the amount of Toncoin that they wish to send, confirm the transaction, and hit the send button. The recipient will get the amount in real-time, according to the official publication.

Telegram turned down its crypto operation, known as the Telegram Open Network (TON), after a legal challenge from the United States Securities and Exchange Commission (SEC).

TON was introduced by Nikolai and Telegram CEO Pavel Durov in 2018, The Verge reported. The SEC sued Telegram for the failure to register $1.7 billion in sales that were collected as part of its pre-ICO. Eventually, Telegram paid a penalty.

Based on the report, Durov then endorsed Toncoin which is now enabled for payments on Telegram.

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