Telegram Now Enables Peer-to-Peer Crypto Exchange

The Open Network (TON), a decentralized blockchain created by Telegram, said this week that it will introduce a bot that will allow Telegram's 550 million users to transfer crypto to other users through chat. The "wallet" bot's initial release would allow users to send and receive Toncoins with no transaction costs, according to the developers.

Telegram has a track record of working with cryptocurrency.

The US Securities and Exchange Commission lodged a petition against Telegram in October 2019 after the messaging platform collected $1.7 billion in a closed token sale. Gram tokens, according to the SEC, are unregistered securities. Telegram offered to refund $1.224 billion to investors as part of a June 2020 settlement.

Telegram granted The Open Network community, an open-source community dedicated to developing Toncoin and the related blockchain, control of the Telegram Open Network and Toncoin (currently the 205th-largest cryptocurrency according to CoinMarketCap.com with a value of $2.83 billion).

Those who want to send Toncoin through the new wallet bot, which The Open Network claims have been used by more than 800,000 accounts on Telegram since it was activated earlier this week, will need to download the current version of the Telegram app, according to The Open Network.

Telegram, like Discord, enables people (such as The Open Network) to construct bots to perform platform activity. While Telegram permits the wallet bot to operate, this does not imply that it approves it.

Lightning Labs, a firm working on the Bitcoin Lightning Network, created a comparable tool in 2019. Users could send small sums of Bitcoin, known as satoshis, through Twitter using the Lightning Torch. Twitter enabled Bitcoin tipping through the Lightning Network to its site in September 2021, and Ethereum addresses to its Tips function in February.

Telegram may take a similar approach.

In a press release, a TON Foundation representative stated:

“It is hoped that this simplification of the cryptocurrency transaction process will enable greater adoption around the world, and help to embed blockchain payment solutions into people’s daily lives.”

Telegram's @Wallet Bot now enables P2P cryptocurrency trading

The creators of the Telegram @Wallet Bot, which enables users to buy cryptocurrencies with bank cards, trade them, and move them to other wallets, have introduced a peer-to-peer cryptocurrency exchange.

Although the site claims to offer "anonymous P2P deals," to deposit, exchange, or buy cryptocurrency, customers must give the bot their cell phone number.

Following a statement made by the @Wallet bot's creators, users who seek to sell cryptocurrency will be required to pay a 0.9% commission, whereas buyers will be exempt from paying any costs.

Users can place notifications in the app to sell tokens, and potential purchasers can choose from those notices. Cryptocurrencies can be bought using the Euro, BYN, USD, KZT, and UAH by buyers.

The company says that it is currently selling Bitcoin (BTC) and Toncoin (TON), with intentions to expand its offering in the future. Only TON can be sent directly between users using conversations.

According to statistics released by the organization, there are now 1.3 million custodial wallet accounts overall. There are 630,000 members of the Telegram group for the TON community.

Cybercriminals are swarming Telegram

Alternatives to well-known underground forums include messaging apps like Telegram and Discord, which offer malware distribution channels in addition to private messaging and security features.

Compared to admin-controlled in-forum messaging systems, Telegram is the ideal form of anonymous communication. In contrast to in-forum messaging, which necessitates waiting for unencrypted mail notifications, Telegram allows actors to communicate securely in close to real-time if both participants are online at the same moment. Due to this communication lag and other security concerns, actors frequently provide additional contact information in forum adverts, including email addresses and Telegram IDs.

For many levels of communication, threat actors can comfortably stay in the Telegram application. In contrast to most messaging systems, which have this capability integrated into forum communications, Telegram users can access both individual private messages as well as group and channel communications using the same handle. The messaging service additionally enables threat actors to avoid the requirement for a web host or domain service, which may otherwise expose them to distributed denial-of-service (DDoS) attacks.

Despite the lack of a direct payment option integrated into the platform, hackers frequently choose Telegram as their preferred alternative because of its straightforward architecture for managing and conducting illicit operations. Telegram is used by a number of actors and organizations to coordinate their operations and to distribute malware logs, hacked accounts, and data theft.

The best Telegram crypto channels

The ability for users to join Telegram groups and find Telegram channels, which can broadcast messages to enormous audiences, is one of the most well-liked Telegram features. Subscribers to Telegram channels can sign up to get regular updates, similar to a news feed. They support an infinite number of subscribers and do not allow for comments, thus the channel administrator can broadcast only.

The useful function that lets you know how many people have viewed a certain post is available on channels' posts. By doing so, producers and other subscribers may assess the level of interest in a certain piece, allowing the former to better shape their future work.

The crypto community has enthusiastically embraced the Channels feature to spread information about all facets of the industry.

Cosmos Airdrops

People occasionally find it confusing that free money exists in the cryptocurrency world. As the majority of blockchain projects rely on the network effect, airdrops—free money—are a way to encourage individuals to take part in these projects. This implies that the more widely it is used, the better it will be for everyone. Although there are generic airdrop channels accessible, there is no assurance of the caliber of the projects doing the airdrops, so these are a genuine mixed bag. Your luck and any study you can uncover will determine whether you have anything of value or none at all.

Researching and committing to high-quality projects are the first steps to getting good-quality airdrops. Cosmos is one of these endeavors. Cosmos aspires to be the unifying layer that supports many other blockchain projects that are constructed on top of it, with the possible exception of Polkadot, which is different from other blockchains out there. Projects like Terra, which are well-known, began in the Cosmos ecosystem. Consequently, the Cosmos Airdrop channel on Telegram is one airdrop channel worth monitoring.

Lunar Crush

The network effect is the main focus of blockchain projects. The level of social involvement found online makes this clearest. By combining internet interests in a project, Lunar Crush rates them based on their own algorithms. Several indicators, such as social volume, social engagement, and social dominance are combined to produce a Galaxy Score. The likelihood that the token's price will increase increases with interaction, which in turn encourages more conversation about the token.

Rekt News

You can follow all the negative developments in the cryptocurrency market on the Rekt News Telegram channel. The news is a helpful reminder of how much caution must be used when navigating the risky waters of the cryptocurrency industry. It's also a wonderful approach to educating oneself on the methods used in these scams and rug pulls. This will not only make it easier for you to know what to watch out for, but it will also give you more information that you can use to evaluate projects.

Glassnode

One of the best resources for anyone interested in crypto is Glassnode. They are a platform for on-chain data and analytics with a variety of metrics and insights for both paid and unpaid participants. One or two uploads every day on the Glassnode channel are jam-packed with information on the macro level and how it impacts the crypto market. Although focused mainly on trading and technical analysis, this is a great location to obtain a strong education in cryptocurrency. Consequently, if you want to read a high-quality, in-depth analysis of what's occurring in the market, this is the channel to visit.

Whale Alert

In the crypto market, wallets with substantial quantities of tokens, particularly BTC and ETH, are referred to as "whales." Whale Alert is the cryptocurrency channel to watch if you want to know when whales are moving. Whales have the power to affect the market, which does not occur in the stock market. This also reflects the size of the cryptocurrency market since it is still vulnerable to manipulation despite having a large market cap.

Any time there is activity between a whale wallet and an exchange, it suggests that some sort of action may be underway or about to be implemented. The information is frequently interpreted in terms of the inflows and outflows to and from exchanges.

DeFi Million

Every day, a new DeFi project appears and solicits our participation. It can be difficult to determine which projects are worth our attention first given the volume of ideas that frequently fill the crypto sector, especially if everything seems promising. You can now join the DeFi Million Telegram channel. It's one of the more well-liked Telegram channels in the cryptocurrency space, with more than 200k users hooked to it. This would be a worthwhile channel to have on your Telegram list if you want to begin dipping your toes into the DeFi domain and are content to have this material vetted before it gets your gaze.

There are plenty of projects being built on well-known chains, albeit the quality of the projects is a little iffy. There is a good chance for a nice surprise as long as you carry out your own background research.

Coin Bureau Insider

With over 132,000 followers, Coin Bureau Insider is one of the most popular Telegram Crypto groups out there. Guy uses the channel to offer valuable and timely information that he finds during his workday and to voice his opinions in real-time.

Visit Coin Bureau Insider to get updates on new merchandise lines, promotions, and other juicy bits that come Guy's way, as well as sneak peeks of his forthcoming videos. On occasion, he will also provide insights into his personal portfolio.