Published May 30, 20242 min read

Exploring Telegram's Crypto Evolution: Inside the Telegram Wallet

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artwork image for: Unveiling the Power of Telegram Wallet: A Game-Changer in the Web3 Era

In the fast-paced world we live in today, as the Web3 industry becomes a significant player in the digital arena, social networks take a central role in the development of various projects. Many have already started integrating blockchain technologies into their platforms, aiming to stay abreast of the latest trends and meet modern users' needs.

In today's article, Coinmooner wants to tell readers about a key platform that plays an important role in the Web3 industry for many projects and recently updated information about its key features for crypto enthusiasts, and we're talking about the Telegram messenger.

Telegram has over 900 million active users, so the company decided to create a product like Telegram Wallet. On September 13, 2023, Telegram launched a cryptocurrency wallet in partnership with the TON blockchain. The @wallet bot, which allows cryptocurrency transactions in Telegram, was launched in 2022, but at that time, it didn't gain as much popularity among users as it does now.


Regarding introducing new features, an official notification has recently been issued stating that the service is setting new requirements for user identification rules, known as "Know Your Customer" (KYC). Starting from June 3rd, owners of crypto wallets will need to provide their name, phone number, and date of birth to access basic functions. The only exception will be withdrawal operations.

Additionally, it's worth noting that Telegram developers are implementing new security measures due to ongoing improvements in services. Users looking to increase their transaction limits to €100,000 (approximately $108,000) will now need to undergo a confirmation process of their actual place of residence. These changes only affect primary wallets while maintaining the functionality and security of sub-wallets integrated into the TON Space ecosystem. These TON Space sub-wallets remain true to their decentralized principle, continuing to facilitate the exchange and transfer of non-fungible tokens without compromising security and reliability.

Earlier, Pavel Durov, the creator of "VK" and Telegram, announced that the messenger's team would reward content creators with Toncoin tokens using Telegram Wallet and allow purchasing goods with cryptocurrency. Coinmooner will closely monitor updates on this topic and promises to keep its readers informed of all events. CoinMooner also reminds you that in the Web3 industry, it is always important to use advanced security methods to ensure the safety of your finances and minimize the risk of loss.

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