{tocify}
"Telegram's Wallet Bot enables merchants to receive Bitcoin and USDT payments quickly and securely. Get started today and start accepting payments in the world's most popular digital currencies!"
The Wallet bot, built on The Open Network (TON) blockchain, enables users to transfer cryptocurrencies within their chats.
Recently, the bot introduced a crypto payment solution, which is now available for use in all regions supported by the wallet service.
Telegram's team, in a tweet, expressed that the new payment feature, known as Wallet Pay, simplifies cryptocurrency payments on the platform and was specifically developed for the Telegram ecosystem.
Previously, merchants had to rely on self-made solutions using simple bots that were connected to cryptocurrency payment systems.
However, thanks to the introduction of a new functionality called Wallet Pay, merchants can now effortlessly receive cryptocurrency payments through the Telegram app.
This means that users have the ability to make payments directly within their conversations with merchants.
The Wallet chatbot, also identified as @wallet on Telegram, is a standalone bot developed on the TON blockchain and Telegram platform.
It enables users to securely store, trade, and transfer three different cryptocurrencies, namely Toncoin (TON), Tether's USDT on Tron, and Bitcoin.
Guide to Receiving Payments Using Telegram's Wallet Bot
Merchants looking to accept crypto payments on Telegram must initially apply through the Wallet Pay website.
The Wallet chatbot team has revealed that around 200 companies are already in line to implement this feature, with thousands of small businesses expected to follow suit in the future.
Users have the convenience of instantly creating a new crypto wallet that is directly linked to their Telegram account, eliminating the need to store seed phrases or private keys.
Telegram's foray into the world of cryptocurrency began years ago with the development of the TON blockchain project.
However, due to legal disputes with the US Securities and Exchange Commission (SEC), the project was abandoned in 2020.
The TON Foundation, also known as the TON community, has since taken charge and continued the project's progress.
Despite offering cryptocurrency services on Telegram for over a year, only a small fraction of the platform's extensive user base has embraced Wallet services.
Out of the 700 million Telegram members, only 2 million are active users of Wallet.
It is important to note that Telegram is not the sole social media platform that has integrated crypto payments in recent years.
Last year, Twitter collaborated with Stripe, an online payments company, to enable merchants to pay their customers using cryptocurrencies.
Tag:
Crypto-Wallets
