You can now pay merchants on Telegram in BitcoinHere’s how it works

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Users can now directly pay crypto traders on Telegram via an independent chatbot called Wallet.

Built on the TON blockchain and Telegram, the Chatbot Wallet offers a way to store, exchange and transfer three cryptocurrencies: Toncoin (TON), Tethers USDT on Tron and Bitcoin (BTC).

The Wallet chatbot team today launched a new feature with the Wallet Pay API, which allows merchants to receive crypto payments directly on Telegram.

It is an unofficial integration of cryptographic technology which is not developed by Telegram developers Telegram FZ LLC and Telegram Messenger Inc.

TON, which stands for The Open Network, is a layer-1 blockchain network based on the proof-of-stake consensus mechanism, originally developed by the Telegram team. Toncoin (TON) is the native gas payment token of The Open Network.

In May 2020, Telegram dropped the project after litigation with the United States Securities and Exchange Commission.

How to receive crypto on Telegram?

Merchants must first apply on the Wallet Pay website to start receiving crypto payments via Telegram.

A spokesperson for the chatbots team told Decrypt that around 200 companies are already in line to implement the product, adding that they expect thousands of small businesses to apply to use Wallet. Pay.

Users need to add @wallet on Telegram as a new contact and create a new crypto wallet instantly linked to their Telegram account. There is no need to save seed phrases or private keys.

A Telegram account is required for any user to use Wallet and access simple USD transfers This can be created using a normal phone number or an anonymous phone number built by Telegram on the TON blockchain , the spokesperson told Decrypt.

The team added a demo merchant for a fake demo merchant called Pineapple Store. Its user experience was relatively seamless, where users can view store items and make payments in the Telegram chat itself.

Demo payment using TON on Telegram. Image: Telegram.

Regarding adding new parts in the future, the spokesperson responded by saying: We are considering adding a few core parts in the future, however, our focus will be on TON.

Despite this concentration, Decrypts transaction logs show no gas fees paid in the network’s native TON token in the test payment.

Telegram previously auctioned usernames as NFTs on the TON blockchain.

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