Telegram has introduced trading and earning functions to its self-service cryptocurrency wallet. This update allows users to buy, sell, or store cryptocurrency without having to make deposits in the blockchain.
Transmits UNN with reference to TechCrunch.
Telegram's crypto wallet, developed by The Open Platform (TOP), has introduced new multi-asset trading and profitability features. As a result of the update, users will be able to buy, sell or store cryptocurrency without deposits on the network. This should make it easier for new users to enter crypto holdings and trading.
The wallet, based on the TON blockchain, was launched in 2023. More than 100 million users have registered an account in the wallet in Telegram. Most of these users were new to the crypto ecosystem, TechCrunch writes.
The wallet product is mainly focused on the Toncoin cryptocurrency, which can be used on the Telegram platform to tip creators or pay for mini-games and apps. The crypto wallet also supports Bitcoin and USDT (on the TON blockchain). In addition, the wallet received support for other currencies, such as Notcoin.
Among other changes that have been introduced recently:
A new navigation bar has appeared at the bottom and an easy way to switch between the "Wallet", "Trade" and "Earnings" sections.
Another important aspect:
For storing a certain amount of Toncoin, an earning component is introduced into the wallet. The average yield is 4%. But, may vary depending on the reward of validators.
Later this year, TOP plans to increase yields for USDT holdings and launch loyalty programs that will benefit Toncoin holders.
Let us remind
Bitcoin fell 2.4% to $80,289 after Trump announced a national cryptocurrency reserve. Other cryptocurrencies are also showing declines, including ETH, XRP, Solana and Cardano.