Telegram launches TON crypto wallet

Pavel Durov, the founder of the popular messaging service Telegram, recently announced an upcoming addition — the integration of the TON crypto wallet. He made this announcement via his Telegram channel, highlighting its significance for the platform’s future development.

Telegram launches TON crypto wallet

Durov also shared insights into the success of the Fragment platform, which is based on the TON blockchain. He noted that digital assets worth $120 million have already been sold at auctions on this platform. Durov sees this as evidence of Web 3.0’s growth potential within Telegram, and the introduction of the TON crypto wallet is expected to empower developers to implement numerous new and valuable features within the messenger.

The crypto wallet feature was initially introduced in January 2022. In order to buy and sell cryptocurrencies, users can engage with the Telegram bot @Wallet. Currently, the TON crypto wallet is accessible to 800 million users, and by November, it will become available for all users except those residing in the United States and certain other countries.

The crypto wallet offers a range of essential functions to provide various operations, including:

  • Cryptocurrency Purchase;
  • Cryptocurrency Sending;
  • Cryptocurrency Exchange;
  • Cryptocurrency Sale.

By default, each user is assigned a basic level of access. This level permits receiving transactions up to €15,000 per day, and a similar limit is in place for purchases via P2P.

The next level becomes accessible to users after completing verification. At this level, users enjoy a daily limit of €100,000 for incoming transactions and purchases via P2P.

The highest level grants users unlimited access to incoming transactions and P2P purchases. The only remaining restriction is on card purchases, which are limited to €35,000 per month. To unlock this level, users need to undergo residence verification.

It is expected that the introduction of the TON crypto wallet in Telegram will mark a significant milestone in the messenger’s development. It will also allow users to make crypto transactions right within the app.

Previously, Telegram made it possible for users to directly transfer USDT (Tether) within their chat conversations.

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