Telegram users can now send and receive toncoin directly within the application’s chats, according to a tweet by The Open Network (TON) Foundation. In addition to the toncoin support, users can also purchase bitcoin via the software’s bot system.
TON Foundation Reveals Telegram Toncoin Support, Users Can Purchase Bitcoin via Bot
The ability to send and receive cryptocurrency using Telegram is now possible using the TON Foundation’s toncoin. Sending digital currencies via third-party applications tethered to Telegram was possible before.
However, this is the first time toncoin will be available since Telegram settled with the U.S. Securities and Exchange Commission (SEC) in June 2020. The SEC filed a case against Telegram in October 2019 over the toncoin project.
On Twitter, the TON Foundation said: “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.”
While users can send and receive toncoin, they can also purchase BTC using the wallet bot system. Telegram dropped the TON project in August 2020, but in April the community raised $1 billion to further the project’s goals.
The TON Foundation has moved into the arena of decentralized finance (defi) and non-fungible tokens (NFTs) as well. 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,” the TON Foundation explained. Toncoin saw an all-time high (ATH) on November 12, 2021, six months ago reaching $5.29 per unit.
Since then toncoin’s USD value has slid 64.8% lower than the ATH. Today, toncoin is exchanging hands for $1.86 per unit and has seen around $2,746,626 in daily trade volume.
What do you think about toncoin being integrated into Telegram so users can send and receive the crypto asset? Let us know what you think about this subject in the comments section below.