The users of the widely used Telegram messaging app now have the ability to purchase, withdraw, and exchange Bitcoin (BTC). It is noteworthy, however, that the Wallet bot and its associated services, which allow for these functions, were created by a third-party, as opposed to being developed by Telegram itself.
In fact, the Wallet bot and such similar services are created by third-party developers using Telegram’s open bot API. This means that anyone can utilize the API to develop their own crypto-related bot, without any direct involvement from Telegram.
Thus, users of the @wallet web interface can now access buy, withdraw, exchange, and make peer-to-peer (P2P) transactions directly through Telegram’s web interface in Bitcoin, as per the latest announcement from the @wallet account on April 21. This move builds upon the existing services surrounding cryptocurrencies that are already popular within the chat program. Notably, the announcement states:
“Bitcoin is now available on the @wallet web interface, along with a new instant exchange. You can now buy, withdraw, exchange, and make P2P transactions with BTC directly through our updated web interface. It is now possible to buy Bitcoin using a bank card or the P2P market in the “Buy & Sell” section of our user-friendly interface.”
The announcement also reminded users that the updated “Exchange” of the platform can now instantly swap Bitcoin, Tether (USDT), and Telegram Open Network (TON) with each other.
As the popularity and adoption of cryptocurrencies continue to grow, it will be interesting to see how Telegram and other third-party industry players continue to innovate and adapt to meet the changing needs and expectations of users around the world.