Telegram crypto launched its bitcoin transfer and exchange tool at a time when more and more conventional businesses were beginning to embrace blockchain technology. A recent development is Telegram’s implementation of a decentralised bitcoin exchange for its subscribers.
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The service was created by a non-profit organisation called The Open Network (TON) Foundation, which was itself founded by the creators of Telegram. Supporting the growth of TON, the foundation is a group of open-source programmers working together.
The Cryptocurrency Exchange on Telegram
Toncoin (TON) has community support since it facilitates on-chain transaction processing through smart contracts and allows for commission payouts. It is utilised for payment settlements, transaction fees, and blockchain security through staking. The token uses a proof-of-stake consensus process and currently holds the 34th spot in terms of market capitalization on CoinMarketCap. The current price of TON is $1.40, an increase of 3.59% in the previous 24 hours.
The current market valuation for TON is $1.72B.
Wallet bot has just announced the opening of a brand new peer-to-peer marketplace. The service now provides a way for users to purchase and trade cryptocurrencies directly with one another, with the service itself serving as a form of transaction insurance.
Telegram’s new crypto trading service builds on the existing crypto wallet feature. The developers have announced that the new Telegram crypto exchange will allow users to buy and trade cryptocurrencies. All dealings can be completed within of Telegram. To facilitate the sale of cryptocurrency, the Foundation has announced a 0.9% commission fee. The purchasers will not be responsible for any commission fees.
Telegram is a peer-to-peer messaging service, but only certain users can use it.
There are six distinct fiat currencies that can be used on the peer to peer market: USD, EUR, RUB, UAH, BYR, and KZT. To buy or sell Toncoin, users can post advertisements on the platform and choose from those placed by other users.
Source: Google Trend