Telegram Wallet Enhances Crypto Trading and Yield Features for 100M Users

Telegram is going for cryptocurrency. The popular messaging app’s self-custodial wallet, built on The Open Network (TON) blockchain, has added new features allowing users to trade and earn crypto right from the app.

With over 100 million active users, this is a big deal to make crypto accessible to a wider audience, from beginners to pros.

New Features: Multi-Asset Trading and Earning

Previously the Telegram Wallet was all about Toncoin (TON), but now with the update, it supports multiple assets. Users can trade not only TON but also Bitcoin (BTC), Tether (USDT) on the TON blockchain and even new tokens like notcoin.

That makes it easier for users to diversify their holdings without having to go through third-party exchanges or complex blockchain operations.

Key features include:

  • Multi-Asset Support: Users can buy, sell and hold multiple cryptocurrencies right within Telegram.

  • Earn Program: Telegram introduces an “earn” feature for Toncoin holders. Although APR and minimum holding requirements are yet to be announced, more details on yield opportunities for USDT and TON holders will be shared soon.

Telegram’s CEO, Andrew Rogozov, said “The update transforms the Wallet into a full-fledged crypto platform while keeping the simplicity and user-friendliness that Telegram is known for.”

Impact on Crypto Adoption and Telegram’s Business Strategy

Telegram’s entry into digital finance is part of a bigger plan to boost their business, with their blockchain initiatives playing a big role in their recent profitability. Crypto expansion is also a major driver of engagement for their 950 million active monthly users and will cement Telegram as a gateway to mainstream cryptocurrency adoption.

This comes at a time when the TON blockchain ecosystem is growing globally. By adding crypto trading and earn features, Telegram can position themselves as the leader in making digital finance accessible to everyday users and increase engagement within their platform.

The Road Ahead for Telegram’s Crypto Ecosystem

Telegram’s move into crypto will have more features to further engage users. A loyalty program for Toncoin holders is expected to drop later this year to drive more adoption of the TON ecosystem.

This makes Telegram a major player in bringing more accessible cryptocurrency usage, so it’s a must-have for users who want to get into crypto without the usual crypto learning curve.

Key Takeaways:

  • Wallet features: Bitcoin, USDT and more assets.

  • Yield earning: Earn rewards for holding Toncoin.

  • Accessibility: Simplifies crypto trading and earning for 100M+ user base.

With 950 million users and the TON blockchain growing, these are big steps to connect traditional social platforms to the growing crypto ecosystem.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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