The popular messaging platform Telegram has integrated a unique crypto feature allowing users to buy and sell digital assets. The new wallet bot on the Telegram platform provides users with options to exchange, withdraw and purchase Bitcoin (BTC).
A source privy to the matter revealed that third-party developers created the Telegram bot. The crypto bot has utilized the application programming interface (API) to ensure the platform provides users with crypto-related products and services.
Importance of Telegram’s Crypto Bot
The API feature will enable the user to create their own botted crypto application without the support of the Telegram Group. An official report from the Telegram team dated April 21 revealed that integrating the bot feature will enable the @wallet users to access crypto services and complete peer-to-peer (P2P) transactions seamlessly.
The @wallet user interface will enable users to buy Bitcoin through the traditional banking system and on the P2P marketplace.
The Telegram team stated that the need to cope with the current trends in service delivery inspired the development of crypto services integrated into a messaging platform. Besides Telegram’s latest product, the firm has restructured the exchange platform.
The users can exchange Bitcoin (BTC) and Tether (USDT), and Telegram Open Network (TON) on the new platform. The dynamism in the crypto environment has inspired Telegram and tech developers to invest in technological advancement to meet the market demand.
Recently, the prominence of crypto has heightened due to ever-changing customer needs. Besides changing customer preferences, the world is seeing high crypto adoption.
Also, countries with high numbers of the crypto-savvy population are redefining the regulations to create a friendly crypto environment. The attempt to cope with the changes motivated the Telegram group to launch a P2P trading platform that only accepts Bitcoin transactions.
This development positions Telegram among firms exploring viable opportunities in decentralized finance (DeFi).
Review of Telegram Crypto Activities
In a previous interview with the Investors Bites team Telegram disclosed plans to enable customers to transact their USDT on a chat platform. Surprisingly, the meaningful discussion was published on the “Every News Bite” platform after revealing its crypto plans to Investors Bites.
The report revealed that the Telegram team would develop an application allowing users to engage in Bitcoin transactions. The Telegram team plans to continue developing additional crypto features to be launched on the chat platform.
Futhermore, Telegram’s native token Toncoin (TON) increased by 0.59% to exchange hands at $2.30 in the last 24 hours. According to CoinMarketCap data, the TON trading volume has decreased by 21.16% in a day.
It was observed that the TON failed to break the resistance level at $2.30. In the last 24 hours, the TON established a bearish trend reaching its lowest at $2.28. Also, TON’s Market Capitalization increased by 1% over a day to reach $2,811,594,971.
