Wallet in Telegram Expands with Multi-Asset Trading and Yield Features

Highlights:

• Wallet in Telegram adds 50 new cryptocurrencies and introduces yield features.
• TON and USDT holders can earn rewards through the platform’s “Earn” section.
• The new updates bring an easy-to-use wallet for Telegram’s 100M users.

Wallet in Telegram, a popular wallet that is connected to the instant messaging service, Telegram, has recently announced a major update. These updates include the multi-asset trading feature and yield support to enhance the customers’ experience. The updated version will accept various forms of cryptocurrency like Ether, XRP, and Dogecoin. In addition, the updates are designed to bring in new users and meet the rising need for variable investments.

The Wallet in Telegram is expanding to at least 50 tokens, boosting its diversity. The new update allows the users of Telegram to not only trade but also hold more cryptocurrencies. It has also introduced the “Earn” feature that lets users earn passive income from such assets as Tether’s USDT and Toncoin (TON).

Initially, users will interact with the tokens by buying, selling, or holding the tokens directly in the custodian wallet. However, these tokens will be non-transferable to other wallets or exchanges initially. Such an option will be introduced gradually while the primary focus will remain on the TON ecosystem.

How the Earn Program Works

The Earn section of the Wallet will allow the generation of yields by holding Toncoin, which includes staking rewards. The first campaign will be the flexible yield for TON deposits with an initial amount of 0.1 TON. The yield is obtained from staking Toncoin and allows users to receive high passive income on their tokens in the long term.

In the future, the Wallet in Telegram additionally intends to extend the Earn feature for other cryptocurrencies, for example, Tether’s USDT. This move aligns with the company’s goal of establishing a fully diversified platform that will suit all forms of cryptocurrency investors.

A Fresh Look and User Experience

Telegram redesigned the Wallet interface along with other changes. The current interface now features a bottom navigation bar, across which you can switch between Wallet, Trade and Earn. These changes are intended to make crypto more user-friendly and bring its usage within the reach of Telegram’s user base.

Currently, the Telegram wallet boasts over 100 million users. This makes it quite popular among people involved in crypto trading or interested in holding assets. The platform has taken a major step forward with this upgrade. In the coming months, the Wallet in Telegram has planned further updates, the addition of new cryptocurrencies, and the improvement of staking solutions.

Mercuryo Partners with Telegram Wallet for Easier Crypto Access

The recent announcement came after Mercuryo incorporated on-ramp services into the Wallet in Telegram. The integration allows users to purchase various cryptocurrencies, such as Bitcoin and Toncoin, using fiat currencies, such as US dollars and euros. The addition is convenient as it helps eliminate the cumbersome process during purchasing by offering help to new entrants into the market.

Telegram is proposing to make cryptocurrency transfer as simple as sending a message. Mercuryo now acts as the exclusive on-ramp partner for Telegram’s crypto platform. In future partnerships, Telegram seeks to provide zero-fee cryptocurrency purchases and make digital currencies more accessible.