Users can buy, withdraw and exchange Bitcoin on Telegram

• Telegram users can now buy, withdraw and exchange Bitcoin through Telegram’s web interface.
• Pavel Durov, CEO of Telegram stated that Telegram will focus on building more decentralized tools in the long term.

The adoption of digital currencies such as Bitcoin has continued to rise unstoppably. Many fintech companies have recognized the growing demands for digital currencies among users on their platforms. In response, a handful of these firms have collectively integrated Bitcoin and other digital currencies into their platform. Telegram is the latest messaging tool to notify users of a new feature that allows users to access digital currencies like Bitcoin.

Telegram users were recently alerted to the new development, which revealed that they could now purchase Bitcoin from Telegram’s web interface. In addition, users can also withdraw and exchange Bitcoin. Telegram also plans to extend the service to app users. As revealed, an app-based update is 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 & Sell” section of our user-friendly interface.

The update comes just a month after Telegram enabled Tether (USDT) transactions for users on the platform, through chats.

Telegram’s organic reach increased noticeably late last year. The asset emerged as the fifth most downloaded application in the world. As claimed by Pavel Durov, CEO of Telegram, the feat was achieved despite Telegram putting little or no effort into marketing its product.

Telegram CEO gives 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 has been vocal about his platforms for the messaging tool. Last year, Durov made a series of tweets, highlighting the next step for Telegram.

Durov stated that Telegram will work towards pioneering large-scale decentralization. According to Durov, Telegram will work to build a variety of decentralized tools, which will range from non-custodial wallets to decentralized exchanges.

Telegram’s next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. In this way we can fix the errors caused by the current excessive centralization.

Telegram’s next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. In this way we can fix the errors caused by the current excessive centralization.

— Pavel Durov (@durov) 30 November 2022

He emphasized the need for the industry to move past the inefficiencies of legacy platforms and justify centralization. Decentralization and transparency for users can be achieved with technologies such as TON reaching their full potential, he added.

Notably, Telegram’s TON token initially rose after the announcement of the new update. The asset rose by 2.27 percent on 20 April. At the time of the report, however, TON is down by more than 40 percent in the last 24 hours.

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