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Telegram Integrates USDT Into Its Wallet Bot Exposing Crypto To 500M+ Users

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Telegram Integrates USDT
Telegram Integrates USDT

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TON Blockchain has recently introduced a new feature that allows Telegram users to send cryptocurrency over the app, sharing support for Tether(USDT) as of now. USDT is the number one stablecoin with a market capitalization of over $78 billion.

Telegram Integrates USDT Into Its Wallet Bot

USDT has been added to Telegram’s wallet bot, making the social media app now compatible to share cryptocurrencies. This will make transferring cryptocurrencies as easy as sharing a picture, lending a hand in the further adoption of digital assets.

Stablecoins provide much better reliability for users as they’re quite non-volatile & can be conveniently traded for any other cryptocurrencies. In addition to acting as a store of value themselves.

Integrating stablecoin on the Telegram network will help users send cryptocurrency to their friends and family, without having the fear of losing their funds to market volatility. The integration will also help Telegram expand its offering of crypto-related services.

The development of the Open Network (TON) blockchain project marked the beginning of the messaging app’s foray into the cryptocurrency realm several years ago. However, due to legal disputes with the U.S. Securities and Exchange Commission (SEC), this project was abandoned in 2020.

Nevertheless, a group of individuals within the TON community have persisted in advancing the project. This community is commonly referred to as the TON foundation. Although Telegram is not directly engaged in TON, its interest in the network is evident in the creation of the Fragment blockchain-based auction platform on top of it towards the end of last year.

TON blockchain announced the news in a Tweet that read “Imagine being able to buy and sell crypto via a messaging app. Now imagine it’s already here,”

Giant Leap For Crypto Adoption One Step At a Time

Cryptocurrencies have been becoming mainstream as the adoption grows, and Telegram integrating USDT into its ecosystem is one important step to boost the adoption. Telegram has a user base of over 500 million, and this integration will expose the cryptocurrency to a wider user base, as seen with PayPal and Visa’s acceptance of cryptocurrencies.

Increased adoption will further incentivize countries to launch their own central bank digital currencies, but that will require an easing of regulations. The industry has a tendency to commonly undergo high-profile hacks, and the volatility associated with it doesn’t make a compelling case for the use of crypto for daily use.

The industry is also under high scrutiny by the SEC, as they’ve taken legal action against companies involved in offering illegal securities. The regulatory body plans to make crypto more safe and immune to fraud, if it plans to become mainstream.

Despite these challenges, the growth of digital currencies is not showing any signs of slowing down. The integration of USDT into Telegram is just one illustration of how digital currencies are becoming more accessible and mainstream. Furthermore, it is highly probable that we will see more developments in this area in the coming years.

How to Send Crypto With The Telegram app

The Telegram app provides a convenient way to send money to your friends or family members. The process is straightforward, and you can do it using your mobile device.

Step 1: Choose a cryptocurrency on Telegram

Open the Telegram app and go to the attachment icon. It will lead you to the wallets. Here, go to wallets and choose the cryptocurrency you want to send.

Step 2: Enter the amount

Write down the amount you want to transfer to the recipient. You can also add a message if you want to.

Step 3: Confirm the transaction

Once you confirm the transaction, the recipient will receive the funds in their wallet. If you are using USDT, the receiver can trade through the Ton network.

Telegram also offers a P2P market where you can buy and sell USDT directly within the bot. You can select an ad or create a new one. The process is easy and safe. Additionally, you can trade TON for USDT and vice versa in a couple of taps.

Buying USDT with a card

You can also buy USDT with a card using Telegram. This option is suitable for those who want to invest in USDT and are new to cryptocurrencies.

Step 1: Open the @wallet Telegram bot and tap “Open Web App” in the main menu.

Step 2: Tap “Buy & Sell” and then “Buy with Card.”

Step 3: Select USDT as the cryptocurrency you want to buy via bank card.

Step 4: Enter the amount of USDT you want to buy and tap “Buy USDT.” You can also indicate how much USDT you want to buy in fiat currency.

Step 5: Enter your bank card information and confirm the transaction in your bank app. You can save your card information on Telegram to accelerate the buying process in the future.

Step 6: The confirmation process depends on the bank you use. Once confirmed, the USDT will be deposited in your wallet.

Buying USDT With P2P

Telegram also offers a P2P market where you can buy USDT directly from sellers. This option is suitable for those who want to trade USDT without going through an exchange.

Step 1: Open the @wallet Telegram bot and tap “Open Web App” in the main menu.

Step 2: Tap “Buy & Sell” and then “P2P Market.”

Step 3: To buy USDT, click “Buy.” You can select the ad you are interested in and use filters to search.

Step 4: Specify the amount of USDT you want to buy and create an order.

Step 5: Wait for the seller’s confirmation. As soon as the seller confirms the order, transfer the amount in fiat to the seller. The payment must be sent in one payment and only via the payment method and details specified in the ad.

Step 6: Confirm the payment in the P2P market. Wait for the payment confirmation from the

Conclusion

Telegram’s integration of USDT is an important step for the further adoption of crypto. And now users can conveniently send stablecoins to each other, and it’ll likely aid the increase in usage of Telegram. Refer to the tutorial above to get started.

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