Friday, December 2, 2022

Telegram Users Can Trade TON On OKX Exchange

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Telegram users can now trade TON on the OKX exchange after the SEC stopped the company’s ambitions to launch TON so let’s read more today in our latest altcoin news.

The TON Foundation announced a new bot that enables crypto transactions using the Open Network Token TON on the Telegram app. The new feature will benefit the 550 million users using Telegram and will be able to send and receive TON without zero fees that can benefit from the blockchain once envisioned by Telegram. The Telegram users can trade TON on OKX which is a Malta-based crypto exchange known as OKEX:

“#Toncoin’s ticker has been changed to TON on @okx

The exchange will begin accepting deposits on April 28, starting at 3:00 am UTC, and spot trading will resume at 5:00 UTC.$TON withdrawals will be open starting April 29 at 9:00 am UTC.

— TON (@ton_blockchain) April 27, 2022”

With the new feature, Telegram has the potential to compete against other platforms like Twitter as it was already supporting BTC and ETH. Twitter on the other hand also started supporting tips in BTC and ETH and partnered with Stripe to add payment features via the USD Coin. Other social media sites that had similar approaches are Reddit and even Whatsapp with the fiat-powred Whatsapp pay feature that is available in India and Brazil. According to the Foundation, the goal of the new feature is for users to be able to make transactions as simple as sending a text message and avoid the complications related to crypto wallet management.

The TON Foundation expects to see this payment method that is used by consumers to buy goods and services from different companies:

“We anticipate that this functionality will extend into the consumer to business payments so that people can easily acquire goods and services by sending toncoin via bots in the Telegram app,”

TON Crypto Project, telegram, russia, durov

Telegram abandoned Toncoin back in 2020 due to the lawsuit issued by the SEC when it went after major players like Ripple, KIK, Facebook, and Telegram alogn with Onecoin and Bitconnect scams. The TON project is independent of Telegram so Pavel Durov is building something big which manages to keep the platform among the top of the social networks and compete with Musk’s Twitter which no one knows what functionalities will offer in the future. Pavel Durov thinks that TON is years ahead of the competitors and this new crypto will have a lot of work to prove the worth which the ecosystem has grown and matured.

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