Telegram Wallet Adds Bitcoin Support

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Bitcoin Portal

4/21/20231 min read

Telegram, the popular messaging app known for its support of digital assets, has announced a new feature that allows users to buy, withdraw, exchange, and engage in peer-to-peer transactions using Bitcoin. This update was recently notified to users of the Telegram wallet bot, and an update for the Telegram app is currently in development.

With this new addition, Telegram's cryptocurrency services are expanding, as users can now perform a range of operations with Bitcoin through the platform's web interface. The notification also mentioned that the platform's "Exchange" feature has been updated, enabling instantaneous trading of Bitcoin, Tether (USDT), and Telegram Open Network (TON) between users.

This move by Telegram is significant in the world of decentralized finance (DeFi), as it showcases the platform's commitment to expanding its presence in the cryptocurrency sector. Telegram has been known for its support of digital assets and has been steadily adding new features to cater to the growing demand for cryptocurrencies among its users.

The introduction of peer-to-peer Bitcoin trading and the expansion of cryptocurrency offerings on Telegram pave the way for wider adoption of digital assets on the platform. It will be interesting to see how Telegram and other chat-based apps such as WeChat, WhatsApp, and Messenger adapt to meet the changing needs and expectations of users worldwide as the popularity of cryptocurrencies continues to grow.

As a result of this crypto-related news, the price of Telegram's TON token showed a slight increase of 0.45% in the last hour, compared to a 2.27% increase in the past 24 hours. At the time of writing, the TON token is trading at $2.40, indicating positive market sentiment towards Telegram's expanded crypto offerings.

In conclusion, Telegram's support for Bitcoin and its expansion of cryptocurrency services demonstrate the platform's commitment to staying at the forefront of the evolving world of digital assets. This move has the potential to further drive adoption of cryptocurrencies among Telegram users and may pave the way for similar developments in other chat-based apps in the future.