It is possible for app users to acquire bitcoin and toncoin using an automated system that may then transfer the latter to other users.
Crypto payments have been enabled to Telegram, enabling the messaging app’s 550 million users to send and receive toncoins, according to a Tuesday tweet from the TON Foundation. If you don’t have a wallet on your phone, you may still purchase bitcoin (BTC) using the “@wallet” bot.
The TON Foundation, the cryptocurrency’s custodian, said on Thursday that the goal is to make transferring toncoin “feel like sending a text message. An estimated 800,000 Telegram accounts have already taken use of the bot, according to the company.
According to the foundation, “We expect this feature to grow into the consumer to company payments so that individuals can simply obtain products and services by transferring toncoin through bots in Telegram.”
As an example, Twitter uses third-party payment systems like Jack Mallers’ Strike app to accept bitcoin payments through the Lightning Network for its Tips function. Blockchain-based cryptocurrency wallet Polygon has already been used by Twitter as a test case for Ethereum-based payments through Stripe.
Following a complaint from the US Securities and Exchange Commission, Telegram cancelled the TON crypto project in August 2020. (SEC). It has raised $1 billion from its users in order to expand its ecosystem.
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