Telegram now allows users to send Toncoin directly in the chat window. The Open Network (TON) released a short video showing how cryptocurrency trading works on the platform.
To use the feature, you have to add Telegram’s wallet bot to your attachment menu, which allows you to “buy cryptocurrency from a bank card, exchange it, and transfer it to another wallet.”
When you are ready to send cryptocurrency, you can call up your wallet from the attachment menu while chatting, enter the amount of Toncoin you want to send, confirm all the details, and click “Send”. Your recipient will receive Toncoin via chat.
In 2020, Telegram shut down its cryptocurrency business after facing pressure from the U.S. Securities and Exchange Commission (SEC). Originally called Telegram Open Network (TON), the project was developed in 2018 by Telegram CEO Pavel Durov and his brother Nikolai.
A year later, the SEC ordered Telegram to stop selling tokens related to the TON blockchain, Gram, because it didn’t register the $1.7 billion in sales it collected as part of its initial coin offering (ICO).
It was then developed by The Open Network (TON), a fast, secure and scalable blockchain and network project capable of processing millions of transactions per second for both user and service provider convenience.