Cryptocurrency is gaining more adoption, and the latest to join this bandwagon is Telegram which rolled out a cryptocurrency transfer and exchange feature. The instant messaging service company Telegram has unveiled its peer-to-peer cryptocurrency exchange service for its users. A brainchild of The Open Network (TON) Foundation, a group founded by Telegram’s founders. It is interesting to note that the foundation is a community of open-source developers helping the development of TON.
The Telegram Crypto Exchange
Toncoin (TON) allows users to make commission payments for processing on-chain transactions with smart contracts. TON is employed for securing the blockchain through staking and settling payments. The token works on the proof of stake consensus algorithm and is placed in position 34 as per capitalization on CoinMarketCap. As of writing, the TON price is changing hands at $1.40, better by 3.59% in the last 24 hours. TON’s current market cap stands at $1.72 billion.
“Today, the Wallet bot team announced the launch of a new P2P market. Users can now directly buy and sell cryptocurrency to each other, with the service acting as a transaction guarantor.”
The latest Telegram crypto exchange service is an offshoot of the wallet feature it has been offering. As per the information revealed by the developers, the new Telegram crypto exchange allows users to sell and purchase cryptocurrencies. Users can be done this directly on the Telegram app. The foundation also said that a fee of 0.9% will be charged as a commission for selling crypto assets. No commission will be charged on the buyers’ side.
Who Can Get Benefit Of Telegram P2P Service
The Telegram P2P Service is compatible with different fiat currencies, the U.S. Dollar, Euro, Russian Ruble, Ukrainian Hryvnia, Belarusian Ruble, and Kazakhstani Tenge.