There is some good news for crypto traders and enthusiasts. Telegram, the world’s most well-known messaging app just now developed its capability and became USDT (TRC20/USDT-TRON) crypto-friendly!
It is now possible to buy and sell USDT-TRON utilizing Telegram and it works between the app users, without leaving the application. Payments work by using a Wallet Bot.
There is also a possibility of purchasing crypto with a bank card, checking the balance and transaction history, transferring it to another wallet, and doing a P2P cryptocurrency exchange.
WHAT IS USDT?
For the records, the USDT (Tether) is the best and largest cryptocurrency stablecoin fixed to the U.S. dollar, depending on it. It is made to provide price stability.
TRC20 is a token standard that allows producing token coins on the TRON blockchain. It is popular for its feature to provide cheaper USDT transferring fees, which is important for traders.
RISKS AND BENEFITS OF TELEGRAM TRADING
In theory, it might be debatable to rely on Telegram security measures and the private keys management while trading and holding crypto on the Wallet. But in reality, we must have faith and give trust in app developers. Until now, Telegram showed a high level of security guarantee for its users. Let’s give it a chance.
Also, there is a risk of increasing scam activities on Telegram, as a result of the latest crypto changings. This is not something new, many trading platforms might become scammer targets but this is something we have to deal with today.
The benefits and positive effects of the new app’s capabilities are many.
Firstly, it is easy and simple to use since it is direct and instantly. You don’t have to put a lot of effort into it to do the transaction. With a few clicks, you are already there and it is with no transaction fees!
Secondly, this change will probably lead to boosting the adaption and usage of USDT (even though we know how much Tether is already used worldwide), making it more accessible for new traders. Be aware that Telegram has 55.2 million consumers nowadays. For sure, the USDT app extension will, even more, increase the number of Telegram app users. Telegram groups might be a great place to gather crypto traders to share their experiences.
WHAT OTHER COINS DOES TELEGRAM SUPPORT?
Let us remind you that bitcoin (BTC) and toncoin (TON) in 2022 were already supported for trading on this app. Toncoin is the native coin of The Open Network (TON) which is created by the Telegram inventors so it is familiar to Telegram.
Later the TON project was relinquished, but some developers (The TON Foundation) kept it in life.
It is obvious that Telegram recognized the potential and importance of cryptocurrencies in the world’s market nowadays. It already became an advanced hybrid application, with both messaging and crypto marketplace purposes.
It remains to be seen if other similar apps will follow the trend and develop crypto tradings. We are expecting it as soon as possible.