Wallet is a fast and user-friendly cryptocurrency management service. It allows users to buy, sell, and trade cryptocurrencies, as well as send TON for free directly through Telegram chat, as these transactions occur between Telegram users.
The wallet can send cryptocurrencies to multiple users at once in your Telegram channel through multiple checks, thereby helping to attract new followers.
How to use the Telegram wallet
To start your account, open Wallet and click the "Start" button.
To generate or add a wallet address:
Navigate to Menu → "My Wallet" → "Deposit".
Select the cryptocurrency you want.
You will receive a message containing your wallet address, which you can click to copy.
You can also access your wallet address through the attachment menu. Just click the plus icon next to the balance and select "External Wallet", then choose the desired cryptocurrency.
Once a wallet address is created in Wallet, it cannot be changed. Although you cannot add external wallets to Wallet due to its custodial storage system, you can consolidate funds into one wallet.
For demonstration, we will send funds from an external wallet at the GATE.IO exchange to the Telegram wallet.
Telegram wallet supports Bitcoin, USDT (on the Tron network, i.e., TRC20), and TON (Telegram's native ecosystem token).
Once you deposit into the wallet, you will receive a notification in the Telegram app and be able to see your new balance.
Telegram Wallet Account Verification
To effectively trade using the Telegram crypto wallet, please verify your account.
The verification process is simple and straightforward. You can use your phone number for verification.
You need to share your name and date of birth.
How to Use Telegram Wallet Features
To change the language or local currency in the Wallet (supports 13 languages), go to Menu → "Settings" → "Change Language" or "Change Local Currency". These settings can also be modified under the "Attachments" menu in "Settings".
Adding the wallet to the attachment menu is simple: click the "Add to Attachment Menu" button in the main menu. This allows you to quickly and easily send TON to Telegram contacts and directly offer cryptocurrency exchange functions from the attachment menu.
Click the "Open Wallet" button in the main menu to view your balance and transaction history. The wallet displays the total asset balance and individual asset balances, including USDT pegged to the dollar, exchangeable for fiat currency or for payments within and outside of Telegram.
Transactions between wallet users do not appear on the blockchain, thus enabling instant, free transfers. However, external transactions are visible on the blockchain.
Currently, Wallet does not support NFTs and tokens, meaning anything sent to your Wallet will not be displayed.
Wallet serves global customers, but individuals from certain countries are excluded due to regulatory restrictions, including the United States, North Korea, Iran, and residents of unrecognized territories.
How to Exchange Cryptocurrencies in Telegram Wallet
Once you have deposited some assets into your wallet, you can proceed to exchange.
In this example, we will exchange USDT for TON.
You will be able to see the exchange rate, the legal equivalent in local currency, etc.
You will receive a notification once the exchange is complete.
How to Use Telegram Wallet P2P Market
The P2P (peer-to-peer) market facilitates direct digital asset transactions between users. In these transactions, the buyer must make payment through a method chosen by both parties. After mutual agreement, the digital asset is transferred to the buyer.
The P2P market acts as an intermediary, providing users with a platform to list their buy or sell ads, while also securing the transaction by holding the digital assets until the transaction is confirmed.
The ads seen on the P2P market are posted by users, and Wallet merely serves as a platform to facilitate these peer-to-peer transactions.
P2P transactions are secured by escrow services, and once an ad is posted, the cryptocurrency in the ad is locked from the seller's wallet. Once the seller confirms receipt of payment, the cryptocurrency is automatically transferred from the reserved amount to the buyer's wallet. In case of disputes, support services are available.
For P2P transactions within the wallet, a fee of 0.9% is charged to the seller for each successful transaction.
To buy cryptocurrencies for free on the P2P market, buyers can choose any payment method.
Cryptocurrencies can be purchased by responding to existing sales ads or by creating a buy ad.
Responding to a sales ad involves selecting an ad from the P2P market, specifying the purchase amount, and completing the order once the seller accepts. The transaction must be made using the payment details provided by the seller, and it should be completed as a single payment and confirmed in the wallet to be credited with the cryptocurrency.
Creating a buy ad requires detailing the purchase terms, including the legal currency, price type (floating or fixed), amount, minimum limit, payment timeout, and choosing up to five payment methods. Comments can be added for clarification. Once the ad is live, you will be notified when someone responds, and you can accept or reject orders without changing the ad terms.
Telegram Wallet Fees
Deposit fees and thresholds For depositing TON or BTC, there is no minimum limit. However, the minimum deposit for USDT is 0.1 USDT. Deposits below 0.1 USDT will not be added to the robot's balance. There are no fees for depositing into your wallet.
Withdrawal fees and minimum limits The minimum amount you can withdraw is:
0.0001 for BTC
0.001 for TON
1 for USDT
The fees for withdrawing to external wallets are:
0.0004 BTC, due to Bitcoin blockchain congestion, a flexible fee system was introduced as of April 5, 2023. Fees can be adjusted based on blockchain activity to facilitate faster transaction confirmation.
If the fee exceeds 0.0004 BTC, it is advisable to wait for the fees to normalize.
0.05 TON
2 USDT
These fees are fixed, regardless of the withdrawal amount.
Exchange rates The minimum exchangeable amount is:
0.1 for TON
0.00001 for BTC
1 for USDT
Exchange rates can be viewed during transactions. To see the current exchange rates, select the desired currency pair.
Purchase fees and limits Buying cryptocurrencies with a bank card is facilitated by third-party partners, with variable fees. The exact amount of cryptocurrency received will be displayed in advance, simplifying the process.
Purchases can be made for free on the P2P market.
To view purchase limits, select the currency pair by going to Menu → My Wallet → Buy Cryptocurrency with Bank Card. For larger amounts, repeat purchases can be selected.
How to Use Telegram Pay to Accept Cryptocurrency Payments
Wallet Pay is an innovative payment system designed for seamless transactions within Telegram, enabling merchants to quickly receive cryptocurrency payments through bot integration. The system allows payments to be made directly within Telegram bots using Wallet, enhancing the shopping experience. For those without cryptocurrencies, topping up the wallet balance is simple and can be done in a few steps using a bank card. First, you need to register and verify your account.
Log in using your Telegram account/number.
You can set up your account as an individual or a merchant.
Afterward, you can proceed with the KYC process.
Select the relevant documents you want to use for the verification process.
If using a desktop, you may need to complete the verification on a mobile device.
You can wait a moment while we process your details.
You will receive a notification of the KYC verification results.
Once your Telegram Wallet Pay is available for use, you will also receive a notification in the Telegram app.
Wallet Pay currently supports currencies including USDT, Toncoin, and Bitcoin.
As for the types of bots compatible with Wallet Pay, they are currently available for text bots and web apps on Telegram. Integration with websites is expected to be launched soon.
While the prices of goods and services can be listed in fiat currencies such as euros or dollars, the actual payment will be converted and displayed to the buyer in cryptocurrency, and the merchant's account will be credited in the same digital currency.
