New Telegram Integration Allows Users to Send Cryptocurrency

Telegram, one of the leading cloud-based, cross-platform, and freeware messaging services will now allow users to send cryptocurrency. This comes shortly after the encrypted messaging application had given up on its own crypto token. 

According to Protocol, the new addition has the potential to make crypto payments on other messaging platforms more mainstream. 

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Telegram’s relationship with cryptocurrency

The TON foundation manages the Toncoin token, and has allowed free payments and sending crypto to other users by using ton coin in the application. Besides, users can also buy Bitcoin in the application.

 Telegram had previously dropped the plans of launching its very own token after a legal tiff with the Securities and Exchange Commission (SEC). In 2019, the company was sued by the SEC after it had successfully raised $1.7 billion to create its own token. 

However, Telegram had to pay a fine and eventually return the money to investors. Having said that, the company’s CEO Pavel Durov has not shied away from promoting or talking about a separate entity spin-off token Toncoin. It is the same token that Telegram has now enabled for payments on the platform. 

According to TON Foundation, Telegram users can send Toncoin without having to pay any transaction fees. 

TON Foundation adds a new flavor to Telegram

TON Foundation has said that it has paved the way for a new and creative way for users to send and receive Toncoin from chat windows. Besides, users will also be able to seamlessly interact with the organization’s wallet bot to purchase, trade, and send Bitcoin (BTC). 

The bot enables users to exchange and transfer coins to different wallets and also purchase crypto tokens using bank cards. 

More about TON Foundation

TON Foundation is a cohort of open-source developers that now supports the development of TON blockchain. It stepped in after Telegram announced that it will no longer continue working on the project. When TON Foundation stepped in, they rebranded the token Gram as Toncoin. 

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Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency. At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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