With the help of the TON blockchain, we can trade USTD now. And telegram Messenger is gradually becoming a massive Web3 protocol. Tether (USDT), the most valuable stablecoin in terms of market size and daily trading volume, has been integrated into the instant messaging service’s wallet bot. Through this Telegram upgrade, USDT, Bitcoin, and TON currencies can be sent, received, and pitched by TG users in real-time via chats.
The Recent Telegram Upgrade that Allows for USDT Transactions
Telegram has introduced a new feature that enables users to trade USDTs within the app. The feature is called “Telegram Open Network” or TON, and it allows users to buy, sell and exchange USDTs through chat. TON is essentially a wallet within the Telegram app that supports USDTs. It lets users manage their USDTs and perform transactions with other Telegram users directly.
Toncoin (TON), which can also be sent within conversations, and bitcoin (BTC) were both introduced to @wallet’s marketplace in April.
Without price volatility like that happening in Bitcoin and Ethereum, Stablecoins like USDT provide stable advancements. They are therefore essential for users who want to manage their money in the cryptocurrency ecosystem without running the danger of it suffering from any sudden drops in value.
Therefore, including USDT may prove to be a significant advancement for Telegram’s crypto service.
The update’s history with dates back to the creation of the Open Network (TON) blockchain project.
In 2018, when Telegram’s Open Network launched, it first incorporated cryptocurrency into the application (TON). Telegram, however, shelved the project in 2020 as a result of the U.S. Securities and Exchange Commission’s determination that the project’s ICO was illegal. The TON Foundation, a group of local citizens, has helped the project continue to advance. Users can send and receive Bitcoin right now through Telegram. It cannot, however, be removed; it can only be traded for TON. To convert Bitcoin or any other cryptocurrency into money on Telegram, utilize the TON token. Money can then be transferred into conventional bank accounts.
How to Use Telegram Open Network (TON)?
Using TON is easy, and it requires no additional downloads or installations. Once the Telegram upgrade happens, TON will be automatically enabled. To access TON, click on the “Settings” option in the app and then select “Wallet” from the list of options. Once you are in the wallet section, you can view your balance and perform various transactions with other Telegram users.
Benefits of Using a TON
The integration of USDT trading within the Telegram app has several benefits for users. Firstly, it provides a convenient and secure way to manage and transact USDTs. Users can perform transactions with other Telegram users directly, without the need for a third-party platform. This makes the process faster, more efficient, and cheaper.
Secondly, TON’s integration within the Telegram app means that users can transact USDTs without leaving the app. This is a significant advantage as it eliminates the need to switch between different apps or platforms to perform transactions. This saves time and effort and makes the process more seamless.
Future Implications of USDT Trading on Telegram
The integration of USDT trading within the Telegram upgrade has significant implications for the digital currency market. It provides an easy and accessible way for everyday users to participate in the digital currency market, which was previously only accessible to professional traders and investors. This move is expected to increase the adoption of USDT and other stablecoins and make them more mainstream. Furthermore, the integration of USDT trading within Telegram is likely to increase the app’s popularity and user base.