@Wallet Bot Developers Launches New P2P Trading Feature on Telegram

The developers behind the @wallet bot are introducing a new feature to its suit to allow users to buy digital assets with a bank card, then exchange or transfer them to other wallets via Telegram. The newly introduced feature will aid peer-to-peer (P2P) transactions directly with each other within the app. 

A 0.9% commission on a transaction is payable by any Telegram user who wishes to sell digital assets in-app. 

Customers (buyers) do not have to pay a transaction fee, according to the developers from The Open Network (TON) Foundation, a non-commercial community of proponents and contributors of the TON blockchain that was created by the founders of the Telegram Messenger, the Durov brothers.

While the new feature has been tagged ‘anonymous P2P deals’, users would still have to share their mobile number with the Wallet Bot before they can buy, sell, exchange or transfer digital assets on the app. To commence trade, sellers only need to post a notice on the app, then buyers get to select what they want. 

TON and BTC Offered For Sale on Telegram

For now, buyers can only make purchases by using the United States Dollar (USD), Euro (EUR), Ukrainian hryvnia (UAH), Belarusian Ruble (BYN), and Kazakhstani Tenge (KZT). Meanwhile, Toncoin (TON) and Bitcoin (BTC) are the only available digital assets for sale now. However, only TON can be sent directly through chats.

Users can “you can buy cryptocurrency, send it to your friends using a short nickname without long wallet addresses, get access to the internet with the @mobile bot, pay for a subscription to your favorite Telegram channel along with many other services,” a spokesperson stated

Markedly, the Wallet Bot was initially launched to allow users to trade Toncoin (TON), the native token of the Telegram App. Now, it will allow users to buy and sell cryptocurrencies to each other using the app while the exchange services act as guarantors for the transactions. 

In case of any dispute or disagreement between the seller and the buyer, the exchange services will act as a mediator by conducting a dispute resolution process.

One of the Durov brothers Pavel Durov announced almost two months ago that they are considering adding a new marketplace where usernames will be traded through a Non-fungible token (NFT) smart contract.