The TON Foundation, an old project abandoned by Telegram, revived and enabled a bitcoin - BTC and toncoin - TON wallet on that social network, through which these cryptocurrencies can be bought, exchanged, deposited and withdrawn. It is a wallet guarded by that organization, but it is linked to the user's account on that platform.
The service will be enabled for 550 million users and although toncoins can only be sent between chats, bitcoins can be bought, using a bot called @wallet. The system is in charge of guarding the holdings of the users and they can only withdraw them or exchange them for other currencies.
The private keys of said wallet are not in the control of the user
The TON Foundation stated that the goal of this enablement is to make sending toncoins as easy as sending a text message, according to CoinDesk.
We anticipate that this functionality will be extended to consumer-to-business payments, so that people can easily purchase goods and services by sending toncoin via bots in the Telegram app.
----Fundación TON.
A bot without official Telegram endorsement
Although it seems like an easy process, keep in mind that this application or wallet does not have the official support of Telegram.
Although it is a project born within that company, the founders have no direct relationship with it, despite the fact that they have been in favor of several initiatives.
Telegram has abandoned its TON blockchain project, after two years of designing, planning and managing investments. From that moment on, there was a fork in that chain and the project changed hands, being the developers who are directing it until today.
Testing the TON wallet
The telephone number registered in Telegram is requested as a requirement for the creation of the portfolio. This happens at the moment when, for example, the option to deposit cryptocurrencies is selected.
We noticed that the product was centralized and guarded by the TON Foundation.
The funds will be credited to the wallet “within 30 to 60 minutes
These addresses, in general, do not have the updates that have been given to improve key aspects, such as the performance, reliability and security of the transactions offered by SegWit and Taproot.
We confirm that the created wallet exists. In Blockchair's block explorer, we paste the address provided by the bot, and sure enough, it's mirrored. There is no movement in BTC.
The wallet is preset to purchase BTC with US dollars - USD, euros - EUR, and Russian rubles - RUB.
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