For anyone unfamiliar with Telegram, it’s an instant messenging app for mobile and desktop devices, including smartphones and tablets. Currently about 50 million people use it on a daily basis because of its speed, security and comfortable interface. The program supports file sharing and allows users to create group chats and live channels for huge audiences.
So what does it have to do with bitcoin? Enter the Telegram Wallet, which utilizes the messenger’s bot platform to help users keep track of their cryptocurrency as well as exchange it between accounts and via external addresses. Yes, you can now use Telegram to make payments, transfer and receive money in bitcoin.
Telegram Open NetworkTelegram Open Network (TON) is going to be the most fommed ico in years. It's cloud-based, so it lets you access your wallet from multiple devices. It's distributed cause servers are spread worldwide for security and speed. It's open with API and protocol documentation free for everyone.
Why Telegram in particular has become the medium for that sort of thing? It’s popularity has played a role, of course, but security is probably the main reason. While the data is stored in the cloud for easy access to conversations on multiple devices, the app is built with privacy in mind, uses advanced encryption and it’s API is open (hence the possibility of bot integration).
Gram will be represented by the diamond emoji 💎. The cryptocurrency will be used not only for transfers within the system, but also for payments to users who will be supporting the TON infrastructure.
5 billion tokens will be issued in total. 52% of the tokens will stay in the company’s reserve, under the responsibility of the project's founders.
Exchange TON and Bitcoin
With Telegram Wallet you can exchange bitcoins and TON with other users just by texting the requirements and the relevant transaction information. As long as you have a particular person on your list of contacts, you don’t even need to know their bitcoin address. The process is very simple, accessible and fast. All you have to do is add the bot and send it commands in the form of messages to transfer and deposit your bitcoin.
Some users may feel unsure about this service, and that’s understandable, since their money is basically kept in the cloud, but it’s possible to set limits to the amount of currency kept in the accounts. In this case Telegram Wallet becomes just a small buffer that still allows you to make transfers with comfort and ease, while all the extra cash flows to the specified external BTC address. There’s also a great option of locking your bitcoin funds in Euro, US Dollars and British Pounds to stop worrying about the cryptocurrency’s volatility.
Telegram Wallet is a great tool for bitcoin owners around the globe.