Telegram is now offering its new instant crypto sending and receiving service. This is Toncoin (TON), whose wallet is integrated into the messaging app through its bot.
Immediate sending and receiving of Toncoin on Telegram
Users of Telegram, Pavel Durov‘s messaging app, can now send and receive the cryptocurrency Toncoin (TON) immediately and at zero transaction costs, by activating the wallet integrated directly into the chat.
Here is Toncoin’s announcement:
You can now send #Toncoin directly within Telegram chats!
It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.
Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6
— TON (@ton_blockchain) April 26, 2022
“You can now send #Toncoin directly within Telegram chats! It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you’ll no longer need to enter long wallet addresses and wait for confirmations. Watch the video and test the new feature!”
Decentralized blockchain “The Open Network” has added a bot that allows Telegram’s more than 550 million users to send cryptocurrencies to other users via chat. The initial rollout of the “wallet bot” will allow the sending and receiving of Toncoin for zero fees.
TON integration, a dream come true
Integrating TON into Telegram was a dream come true for the messaging app’s creator, Pavel Durov, who had previously had to announce his abandonment of the project.
The cause had been the US Security Exchange Commission which, back in 2019, had sued Telegram for raising $1.7 billion through a private sale of tokens.
According to the SEC, the GRAM tokens were not registered securities and therefore, in June 2020, Telegram had to return $1.224 billion to investors.
At the same time, the messaging app also had to relinquish control of Telegram Open Network and Toncoin to The Open Network community, which today seems to have delivered on Durov’s dream.
Toncoin (TON) and the price trend after the news
Once Toncoin became independent from Telegram, it was listed on several exchanges and began its venture into the crypto market.
The news of the integration into the messaging app, brought TON into bullish price action. On April 26, TON was worth $2.01, the following day $2.27, and yesterday it hit $2.33.
At the time of writing, TON is worth $2.25. TON is the 205th crypto by market capitalization, with no dominance yet.