Telegram Customers May Finally Send Cryptocurrencies.

2022-05-02 | Selina Mathew

Telegram Customers May Finally Send Cryptocurrencies.

Telegram customers may currently send Toncoin through chats within the app. TON (The Open Network) stated on Twitter that Telegram now allows Toncoin transactions with no costs. It also posted a brief video demonstrating how cryptocurrency transactions operate on the site.

As per Verge, users will need to add Telegram's Wallet bot to the attachment menu in order to buy bitcoin with a bank card, swap it, and send it to other wallets.

Users must open the Wallet from the attachment menu, input the amount of Toncoin to be sent, verify the transaction, and press the send button. It went on to say that the receiver will get the money in real-time.

Following a legal dispute from the US Securities and Exchange Commission, Telegram rejected its cryptocurrency operation, dubbed the Telegram Open Network (TON) (SEC).

According to The Verge, Telegram CEO Pavel Durov and Nikolai introduced TON in 2018. The SEC filed a lawsuit against Telegram for failing to register $1.7 billion in pre-ICO sales. Telegram was forced to pay a fine.

As per the article, Durov then approved Toncoin, which is currently accepted on Telegram.

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