Telegram users can now send and receive toncoin directly within the application’s chats, according to a tweet by The Open Network (TON) Foundation. In addition to the toncoin support, users can also purchase bitcoin via the software’s bot system.
TON Foundation Reveals Telegram Toncoin Support, Users Can Buy Bitcoin Via Bot
The ability to send and receive cryptocurrency using Telegram is now possible using toncoin from the TON Foundation. Sending digital currencies via third-party apps linked to Telegram was possible before.
However, this is the first time toncoin will be available since Telegram settled with the U.S. Securities and Exchange Commission (SEC) in June 2020. The SEC filed a case against Telegram in October 2019 over the toncoin project.
On Twitter, the TON Foundation mentioned: “You can now send toncoins directly in Telegram chats. This is a new way to send Toncoins without transaction fees to any Telegram user. With this service, you will no longer need to type long wallet addresses and waiting for confirmations.
While users can send and receive toncoin, they can also purchase BTC using the wallet bot system. Telegram dropped the TON project in August 2020, but in April the community raised $1 billion to further the project’s goals.
The TON Foundation has also entered the field of decentralized finance (defi) and non-fungible tokens (NFT). Just recently, the foundation announced the launch of Disintar.io, a TON-based NFT marketplace.
“On Disintar.io, users can buy, sell, and list NFTs without having any technical knowledge,” the TON Foundation explained. Toncoin saw an all-time high (ATH) on November 12, 2021, six months ago reaching $5.29 per unit.
Since then, the USD value of toncoin has fallen by 64.8% against the ATH. Today, toncoin is trading hands for $1.86 per unit and has seen approximately $2,746,626 in daily trading volume.
