The crypto community was buzzing with the latest news. Users on Telegram are now able to send crypto to each other seamlessly. There are a few setup steps required before being able to send cryptos. In this article, we’re going to go over the dynamics of such news to happen, and go through a step-by-step guide on how to send crypto on Telegram.
Does Telegram have its own token?
The short answer to this is no. Telegram company did in fact plan to launch its own token called “GRAM”. Users were set to use this specific token to send and receive crypto. On the other hand, just like Ripple company and many others, Telegram got slammed with a lawsuit. The SEC claimed that Telegram company was “selling unregistered securities”. The company later agreed to a settlement back in mid-2020, to return more than USD 1 Billion in funds to early investors. The project was dumped soon afterwards.
Today, Telegram announced the launch of their updated Wallet 2.0, with a refined and easy-to-use interface that allows users to easily send/receive and view their balances.
Can you send Crypto on Telegram today?
The Open Network (TON) is a fully decentralized layer-1 blockchain designed by Telegram to onboard its users into the crypto space. It has fast transactions and low fees. TON basically created an API that plugs into Telegram as a Wallet bot. Users will communicate with the bot, set up their wallets, and be able to send and receive the TON token with other others.
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.
Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6
How to Send Crypto on Telegram
Set up your TON Wallet on Telegram
There are very easy steps to set up Telegram crypto sending. If you already have Telegram setup, skip to step 3.
4. Click on the “Start” button
5. Click on “Add to attachments menu” then click on “Confirm”
And that’s it! You successfully added a wallet to your Telegram account.
How to Fund your TON wallet on Telegram
In order to fund your TON Wallet on Telegram, here’s what to do:
- Go to the “Wallet” Bot, and click on “My Wallet” then on “Deposit”
- Share your phone number with TON
You can choose to fund your account with the deposit feature. Here, you will be provided to send TON or BTC to a specific address they share with you, and the funds will be credited between 30 and 60 mins.
The other alternative would be to purchase TON or BTC directly with a debit card. Here, you will choose the amount to credit, then click on an external link where you’ll have to pay using your card. The only hassle with this option is that you’ll have to go through a KYC process that requires you to give out an ID or passport, and take a selfie with your phone.
How to Send Crypto on Telegram
Now that you have set up your wallet and funded it, you can simply go to any chat with any other Telegram user, go to the attach feature, choose the amount to send, and that’s it!
