Telegram, the popular encrypted messaging application, has recently launched a new verified mini-app called @Wallet. This integrated cryptocurrency wallet allows users to securely send, receive, and store digital assets like USDT, Bitcoin, and Toncoin directly within the Telegram ecosystem.
A notable feature of this wallet is its ability to facilitate peer-to-peer cryptocurrency transfers between Telegram users. This integration aims to make digital currency transactions more accessible and user-friendly for Telegram’s massive global user base.
Supported Cryptocurrencies and Core Features
The Telegram Wallet currently supports several major cryptocurrencies:
- USDT (TRC-20 standard)
- USDT (on the TON network)
- Bitcoin (BTC)
- Toncoin (TON)
Users can create a self-custody wallet directly through the app, enabling them to manage these assets without leaving Telegram. The process is designed to be straightforward, aligning with Telegram’s focus on user experience.
Peer-to-Peer Transfers with Low Fees
A key advantage of using the wallet within Telegram is the ease of sending crypto to friends. When transferring USDT between two Telegram users, the transaction is processed on the TON network.
This method offers a significant benefit: a fixed network fee of approximately 0.0145 TON (roughly $0.10 at the time of writing). This makes it a cost-effective option compared to many other networks, including TRC-20.
Understanding TON and Telegram’s Relationship
It is crucial to understand the distinction between Telegram and the TON project. Toncoin (TON) originated from a blockchain initiative started by Telegram. However, in May 2020, Telegram discontinued its active involvement in the project.
Today, the TON Foundation, an independent community of supporters, maintains and develops the TON network and its native cryptocurrency, Toncoin. While Telegram and the TON Foundation have a close working relationship, they are separate entities.
Therefore, the Telegram Wallet and the TON cryptocurrency are independent products from Telegram itself. Users should evaluate them based on their own merits.
The Impact on TON’s Adoption
The integration of a native wallet is a significant development for the TON ecosystem. With Telegram boasting over 900 million active users, this feature exposes cryptocurrencies and blockchain technology to a vast new audience.
The simplicity of sending crypto to a Telegram contact lowers the barrier to entry, potentially driving greater adoption and utility for the TON network and its associated assets. 👉 Explore more strategies for managing digital assets
Compliance and Verification Requirements
To comply with global financial regulations, the @Wallet app incorporates certain verification steps. Initially, users may face transaction limits.
These limits can be removed by completing a Know Your Customer (KYC) process, which typically involves providing:
- Government-issued identification
- Proof of address
Completing this verification unlocks higher transaction tiers or unlimited usage, depending on the user's jurisdiction.
Important Considerations for Users
A critical point for users to note involves cross-chain transfers. The TON bridge, which allows assets to move between different blockchains, currently has limited support. It appears to primarily support bridging with the Ethereum network.
This means that if you receive USDT on the TON network and your preferred cryptocurrency exchange does not support this specific version of USDT, you may encounter difficulties depositing it for trading or conversion.
Always confirm that your chosen exchange supports the exact asset type and network before initiating any transfers.
Frequently Asked Questions
What cryptocurrencies does the Telegram Wallet support?
The wallet currently supports several major digital assets, including USDT (on both the TRC-20 and TON networks), Bitcoin (BTC), and Toncoin (TON). This allows users to hold and transfer these currencies seamlessly.
How much does it cost to send USDT to another Telegram user?
Transfers between Telegram users using the TON network incur a fixed fee of 0.0145 TON, which is approximately $0.10. This low, predictable cost is one of the main advantages of using this method for peer-to-peer payments.
Is the Telegram Wallet built by Telegram?
While the wallet is integrated into the Telegram app, it is important to understand that Telegram and the TON network are separate. The wallet supports assets independent of the messaging platform itself, and users must always practice secure key management.
Why do I need to verify my identity with the wallet?
Identity verification is a standard security and regulatory practice known as KYC (Know Your Customer). It helps prevent fraud and money laundering. Completing verification allows for higher transaction limits and full access to the wallet’s features.
Can I send my TON-based USDT to any exchange?
No, you cannot. You must first ensure your cryptocurrency exchange supports deposits of USDT on the TON network. If it does not, you will be unable to deposit those funds. Always check an exchange’s supported assets and networks beforehand.
Is this wallet safe to use?
The wallet provides a user-controlled experience. As with any self-custody wallet, your security is your responsibility. Safeguard your recovery phrase and be cautious of phishing attempts. The integration within Telegram offers convenience, but standard crypto safety rules apply. 👉 Get advanced methods for securing your crypto holdings