Telegram users can now send and receive toncoins directly in in-app chats, according to a tweet from the Open Network Foundation (TON). In addition to toncoin support, users can also purchase bitcoins through the software’s bot system.
TON Foundation Reveals Telegram Toncoin Support, Users Can Buy Bitcoin Through Bot
The ability to send and receive cryptocurrency using Telegram is now possible using TON Foundation toncoin. Sending digital currencies through third-party apps linked to Telegram was possible before.
However, this is the first time toncoin will be available since Telegram reached an agreement with the United States Securities and Exchange Commission (SEC) in June 2020. The SEC filed a lawsuit against Telegram in October 2019 regarding the toncoin project.
On Twitter, the TON Foundation said: “You can now send toncoins directly in Telegram chats. This is a new way to send Toncoins without transaction fees to any Telegram user. With this service, you will no longer need to type long wallet addresses and waiting for confirmations.
Although users can send and receive toncoins, they can also buy BTC using the wallet bot system. Telegram abandoned the TON project in August 2020, but in April the community raised $1 billion to meet the project’s goals.
The TON Foundation has also entered the field of decentralized finance (defi) and non-fungible tokens (NFT). Just recently, the foundation announced the launch of Disintar.io, a TON-based NFT marketplace.
“On Disintar.io, users can buy, sell and list NFTs without having any technical knowledge,” explained the TON Foundation. Toncoin hit an all-time high (ATH) on November 12, 2021, six months ago, hitting $5.29 per unit.
Since then, the USD value of toncoin has fallen by 64.8% against the ATH. Today, toncoin is trading hands for $1.86 per unit and has seen approximately $2,746,626 in daily trading volume.
What are your thoughts on integrating toncoin into Telegram so users can send and receive the crypto asset? Let us know what you think about this topic in the comments section below.
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