Telegram @Wallet Bot Now Lets Users Exchange Crypto With Each Other – Blockworks





DAS: London is 95% Sold Out. Register Today.
webinars
DAOs (Decentralized Autonomous Organizations) enable people to coordinate and collectively manage an organization run almost entirely by open-source code and governed by network participants. This episode will walk how DAO’s should approach Treasury Management and the best practices that are crucial […]

Blockworks Exclusive: Sellers will pay a 0.9% commission on transactions, which the developers say are peer-to-peer
Developers behind the Telegram @Wallet Bot, which allows Telegram users to purchase cryptocurrencies with a bank card, exchange and transfer to other wallets, have launched a P2P cryptocurrency exchange.
The Wallet Bot launched in April, allowing Telegram users to buy toncoin (TON) and send it within chat messages. The latest update will allow sales of cryptocurrencies between users through the Telegram app, with the exchange services acting as guarantors for each transaction. In any case of disagreement between the seller and the buyer, the service will conduct a dispute resolution process.
The service is pitched as offering “anonymous P2P deals,” however, users must share their mobile phone number with the bot in order to deposit, exchange or purchase crypto.
Users who wish to sell cryptocurrencies will be paying a 0.9% commission, while buyers will not need to pay any fees, according to a statement by developers of the @Wallet bot.
To sell tokens, users will post notices in the app, which buyers can then select from. Buyers can use USD, EUR, UAH, BYN and KZT to purchase cryptocurrencies. 
Toncoin (TON) and bitcoin (BTC) are available for purchase at the moment, with plans to increase the offering at a later date, according to the company. Only TON is able to be sent between users directly through chats.
“It is aimed towards ordinary users and provides a low entry threshold for learning about blockchain. Many services on TON are similar to the usual applications that people are already used to using,” a TON Foundation representative told Blockworks.
“Without leaving Telegram you can buy cryptocurrency, send it to your friends using a short nickname without long wallet addresses, get access to the internet with the @mobile bot, pay for a subscription to your favorite Telegram channel along with many other services,” the representative said.
The TON blockchain that was originally founded by the Durov brothers, the founders of Telegram Messenger. Telegram previously intended to launch an official token, GRAM, but was prevented from doing so by the Securities and Exchange Commission (SEC) in 2020, forced to return $1.2 billion raised for the project to investors and pay an $18.5 million fine.

The TON Foundation “is a decentralized community started by Anatoliy Makosov and Kirill Emelyanenko after Telegram stepped away from the project,” according to its website.
“One of the goals is to merge blockchain technology with the traditional internet,” the spokesperson said. “In order to further this decentralized concept, TON is creating its own ecosystem, which already includes DNS, sites, and proxies.”
The total number of custodial wallet accounts has grown to 1.3 million according to a stats page provided by the group, however the Ton Scan block explorer was not displaying any information as of press time.
The TON community Telegram group has 630,000 subscribers.
The TON token is trading at $1.39 as of 9:00 am ET, with a market capitalization of about $1.7 billion and circulating supply of 1.22 billion TON, according to CoinMarketCap.
Macauley Peterson contributed reporting.
This story was updated on Oct. 4 at 10:09 am ET.
Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.
DATE
Monday & Tuesday, October 17 & 18, 2022
LOCATION
The Royal Lancaster Hotel, London
The trading firm is looking to cut costs as the markets continue its downward trajectory following this year’s poor performance
The stablecoin issuer asserts its commercial paper holdings have been reduced to zero
Unstoppable Domains launches latest Web3 education initiative in Latin America
“The equity markets aren’t getting any looser, the debt markets aren’t getting any cheaper,” Fred Thiel told Blockworks
The latest raise brings the protocol’s total funding this year to $24 million

source



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.