The adoption of digital currencies such as Bitcoin has continued to grow unabated. Many fintech companies have recognized the growing demand for digital currencies by users of their platforms. In response, some of these companies have collectively integrated Bitcoin and other digital currencies into their platform. Telegram is the latest messaging tool to notify its users of a new feature that allows access to digital currencies such as Bitcoin.
Telegram users were recently notified of the new development, which revealed that they can now buy Bitcoin from the Telegram web interface. Additionally, users can also withdraw and exchange their Bitcoins. Telegram is also planning to extend the service to users of its app. As has been revealed, an app-based update is currently in the works.
According to the official statement, “it is now possible to buy Bitcoin using a bank card or the P2P market in the “Buy and Sell” section of our user-friendly interface”.
The update comes just one month after Telegram enabled Tether (USDT) transactions for users of the platform, through chats.
Telegram's organic reach increased dramatically at the end of last year. The resource has emerged as the fifth most downloaded application in the world. As stated by Pavel Durov, the CEO of Telegram, the feat was achieved despite Telegram making no effort to commercialize its product.
Telegram CEO gets a sneak peek at the future of the platform and its plans to roll out decentralized tools
Meanwhile, Pavel Durov, founder and CEO of Telegram, spoke about his platforms for the messaging tool. Last year, Durov posted a series of tweets, highlighting Telegram's next step.
Durov said Telegram would work to pioneer decentralization on a large scale. According to Durov, Telegram will work to build a number of decentralized tools, ranging from uncustodial wallets to decentralized exchanges.
Telegram's next step is to build a series of decentralized tools, including non-custodial wallets and decentralized exchanges to enable millions of people to securely trade and store cryptocurrencies. In this way we will be able to correct the errors caused by the current excessive centralization.
He highlighted the need for the industry to overcome the inefficiencies of legacy platforms and justify centralization. Decentralization and transparency for users can be achieved with technologies like TON reaching their full potential, she added.
Notably, Telegram's TON token initially soared after the announcement of the new update. On April 20, the asset was up 2,27%. However, at the time of reporting, the TON is down more than 40% in the past 24 hours.