United States – A blockchain community’s independent developers, The Open Network, established a Telegram bot for transferring and trading cryptocurrency.
Telegram had a previous upgrade to the wallet bot, and users of the app can sell and purchase digital assets without leaving the app. The Open Network, previously known as Telegram Open Network or TON, developed the wallet bot in April. The bot lets users sell, trade, and sell TON or Toncoin within Telegram. However, the app had a new update, which was a fully functioning digital asset.
TON developers consisted of an independent team that generated the wallet bot to shorten digital asset transactions for Telegram users. A representative from the TON Foundation advised Cointelegraph that an independent improvement team created the wallet bot, and they are happy that more projects are selecting TON as the core for producing new products. The team stated that TON is for many users, and one of their goals is to utilize blockchain without any complication, like how users use an app.
The wallet bot serves as a money on-ramp, letting users purchase TON within the Telegram app through credit cards. The supported money currencies now for selling and buying Toncoin are euros, Belarusian rubles, United States, Kazakhstani tenge, and Ukrainian hryvnia.
The exchange service that enables them also operates as a guarantee for transactions within Telegram. The service determines any necessary conflict that might arise between the two parties related to the transaction. The other party might accomplish the transactions in complete obscurity. Nonetheless, users should provide the wallet bot their phone numbers before partaking in any cryptocurrency-related events made available by the app.
With this blockchain initiative, the wallet bot doesn’t have charges for buying cryptocurrency via Telegram. However, sellers will have a commission fee equivalent to 0.9% of the trading price for every complete transaction. Users can purchase TON or Toncoin and Bitcoin through the app, but the TON foundation intends to develop the number of digital assets available for trading. Moreover, users in the blockchain need to join with The Open Network if they want to transfer digital assets via the peer-to-peer functionality on Telegram.
Blockchain users can send the coins to the Telegram of the recipient when transferring the digital asset to another trader, which is better instead of sending it to their address. The TON Foundation representative emphasized this feature, stating that the wallet bot team is establishing excellent strides in this direction since they can buy, send, and exchange Toncoin without leaving Telegram. Long addresses are unnecessary, and they look forward to a future with this initiative.