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Telegram’s 300 Million Users May Be Able to Trade Cryptocurrency

Crypto bull runs often result in developments that often seem a bit farfetched, but at the end of the day, almost everyone wants to cash in on the phenomenon. It happened in 2017, and it is happening once against in 2019 as Bitcoin led the massive crypto surge in the first half of the year.

Naturally, some of the world’s biggest tech companies are now getting an interest in Bitcoin as well as in the wider crypto ecosystem. It has now emerged that messaging platform Telegram, which is best known for providing complete privacy to its users, is going to introduce crypto trading.

According to reports, the messaging app is going to provide a crypto trading facility by way of Bitcoin and Button Wallet, the company that is involved in providing crypto wallets. It is important to note that Telegram has a massive user base of around 300 million, and if the company can leverage that user base, then the whole thing could turn into a success. The Chief Executive of Button Wallet, Alex Safonov, stated that this initiative will help in the process of mass adoption of cryptocurrencies, particularly as people do not need to use fiat money for trading purposes.

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The whole thing is simple and should not be difficult for the average Telegram user to pick up. The user needs to activate the Telegram Open Network wallet, which is powered by Button Wallet, and will then be provided with 6.6 testnet grams to use in the account. It is important to note that Button Wallet supports all the major cryptos, including Ethereum, Bitcoin, and Litecoin. Hence, a user will be able to transfer such coins into their new wallet and commence trading with other users on the platform. That being said, it remains to be seen how many users will actually use it once it is launched.