Telegram launches crypto currency wallet.

[OgNasty]

Telegram has to be the platform with the highest percentage of scammers of any available on the internet.  I would honestly guess that >90% of the registered accounts on Telegram have been registered with the intent to scam.  If there's a single app that should be nowhere near a cryptocurrency wallet, it's Telegram.  My advice to everyone would be to stay as far away from a Telegram wallet as possible and if you are forced to use the app for some reason, never engage in a cryptocurrency trade of any kind with people you interact with on there.

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[AmoreJaz]

Telegram has to be the platform with the highest percentage of scammers of any available on the internet.  I would honestly guess that >90% of the registered accounts on Telegram have been registered with the intent to scam.  If there's a single app that should be nowhere near a cryptocurrency wallet, it's Telegram.  My advice to everyone would be to stay as far away from a Telegram wallet as possible and if you are forced to use the app for some reason, never engage in a cryptocurrency trade of any kind with people you interact with on there.

that's what i was thinking here. these scammers have always the guts of sending you unsolicited PMs. i don't know how telegram will curb down those fraudsters. for sure, a lot will be screwed on this app. better deal to a person that you personally know of and know his username in telegram. but if you just happen to know it via app, doubt the motive of such user.
if nothing else, this move may increase the number of crypto users, however, as you said, this may not be good as scammers will proliferate more with their scamming techniques.

[Silberman]

Telegram has to be the platform with the highest percentage of scammers of any available on the internet.  I would honestly guess that >90% of the registered accounts on Telegram have been registered with the intent to scam.  If there's a single app that should be nowhere near a cryptocurrency wallet, it's Telegram.  My advice to everyone would be to stay as far away from a Telegram wallet as possible and if you are forced to use the app for some reason, never engage in a cryptocurrency trade of any kind with people you interact with on there.

That was the very first thing that came to my mind, I have a telegram account and the amount of users which have tried to contact me to try to scam me has to be the highest by far, and yet the people behind Telegram somehow think people with any common sense are going to use a centralized wallet in which we will not be able to control our coins and put them at risk to all of those scammers? They must be out of their minds if they actually believe such a thing.

[Apocollapse]

FYI, the official telegram wallet can be accessed here https://pay.wallet.tg/ there many phishing and fake sites out there.

I can say the wallet created by telegram is bad because there are three things that doesn't looks good. First they're asking to submit KYC, they charge flat fees around 1-3%, this is big if you're send a big amount of coins and you need to wait for 48 hours to receive your coins, it's not instant.

Information about fees, balance and withdrawal

What fee should a merchant pay?

The fee is individual for each merchant, it depends on a number of parameters and is set after passing the successful verification of the application. Usually it is around 1-3%.

Fee is deducted from every successful payment amount. For example: a merchant’s fee is 2%. The product that a buyer pays for costs 20 TON. After a successful payment, the merchant will receive 19.6 TON.

Standard fees will apply when withdrawing from Wallet to another service.

2. Take a short survey
If you are logging in for the first time, or some additional information is required, Wallet Pay offers you to answer several questions for more details. There are two steps:

Questionnaire
KYB (Know-Your-Business) or KYC (Know-Your-Customer) checks
Once completed, your application will be reviewed shortly, and you will be notified about the results. If successful, you will see the fee charged by the service, and get access to your account where you can start the integration.

6. Withdraw the funds
After the customer confirms the payment, the funds are credited to your Assets and held for 48 hours by default. After this time expires, you can withdraw the funds to the balance of your Wallet account you used to log in to Wallet Pay service

[cryptoaddictchie]

Yes, it did.

I have tried it and it seems it is available directly on the Telegram app, I interact the wallet using the bot features.

Hello how to access this wallet in the app. Im looking for it but Im not sure where to open the wallet via app. Does we need to do something first or download it or set it up? Cause based on the images above it works like the bots on other third party dapp. Hope you could tell where in the app section can we start opening it?

[Godday]

I was wondering how safe it would be hence me bringing it here for discussion. So far the telegram platform is very porous and scammers carry out their nefarious act there which makes it not too conducive for most discussions and now Crypto wallet is about to take shape their with one storing or saving his or her assets there. What are the possibility that one can securely safe their assets there without having any issues of scam or hack through telegram hack?

Telegram has become a gathering place for Crypto enthusiasts. Telegram with cryptocurrency is nothing new. However, the problem is Telegram's security. Currently Telegram security is very easy to infiltrate. When Telegram creates a cryptocurrency wallet, there will certainly be lots of hacking attempts.
Or it could be by creating a fake link to the Telegram wallet. I have tried downloading the TON app but I am still not comfortable with the UI of the app.
I chose not to invest in TON but will still put it on my watchlist.

[o48o]

that's what i was thinking here. these scammers have always the guts of sending you unsolicited PMs. i don't know how telegram will curb down those fraudsters. for sure, a lot will be screwed on this app. better deal to a person that you personally know of and know his username in telegram. but if you just happen to know it via app, doubt the motive of such user.
if nothing else, this move may increase the number of crypto users, however, as you said, this may not be good as scammers will proliferate more with their scamming techniques.

Amount of scammers has been only rising in telegram, depending in which channels you lurk, not to mention if you make a mistake of saying something in some of those channels. I've been contacted scammers from same channel for a year now just because apparently i asked something year ago. I haven't been part of that channel forever and was added to it by someone else before i changed my settings so that no one can add me to anywhere.

I can't believe they are basically giving more ammo to scammers, by making it easier for them to scam us.

[vv181]

Yes, it did.

I have tried it and it seems it is available directly on the Telegram app, I interact the wallet using the bot features.

Hello how to access this wallet in the app. Im looking for it but Im not sure where to open the wallet via app. Does we need to do something first or download it or set it up? Cause based on the images above it works like the bots on other third party dapp. Hope you could tell where in the app section can we start opening it?

You don't need anything but a Telegram application. Head over to https://wallet.tg/, it is their official website, click Open Wallet, and the link will direct you to the bot within the application. The wallet is available on the desktop application, I haven't tried it on mobile yet, but since it is based on bot Telegram's feature, I think the wallet will be able to be used on mobile too.

This wallet is a custodial wallet, so it seems there is no way to save your own key. Also, it requires your mobile number to be linked with Telegram in order to use the wallet.

[fzkto]

Yes, it did.

I have tried it and it seems it is available directly on the Telegram app, I interact the wallet using the bot features.

Hello how to access this wallet in the app. Im looking for it but Im not sure where to open the wallet via app. Does we need to do something first or download it or set it up? Cause based on the images above it works like the bots on other third party dapp. Hope you could tell where in the app section can we start opening it?

You don't need anything but a Telegram application. Head over to https://wallet.tg/, it is their official website, click Open Wallet, and the link will direct you to the bot within the application. The wallet is available on the desktop application, I haven't tried it on mobile yet, but since it is based on bot Telegram's feature, I think the wallet will be able to be used on mobile too.

This wallet is a custodial wallet, so it seems there is no way to save your own key. Also, it requires your mobile number to be linked with Telegram in order to use the wallet.

I think it's more like some kind of scam. A wallet that needs to be linked to your telegram account and you don't have a private key. Also, nothing has been heard about ton blockchain lately, but the coin has a huge capitalisation and is in the top cmc. I think it's kind of weird for a blockchain that hasn't shown anything yet.

[m2017]

It feels like Telegram is gradually wanting to become a clone of WeChat with the possibility of internal payments in its own ecosystem.

OP correctly noted that hacking and stealing Telegram accounts will not surprise anyone, therefore, the built-in TON wallet will repeatedly be at risk of hacking, which we will repeatedly hear about in the news.

If the account is blocked, undoubtedly, the built-in wallet will also be banned and something tells me that the contents of the wallet will be included. This is precisely why custodial currency wallets are bad, that the actual owner with the right to manage the wallet is not the user, but the owner of the platform.

Of course, the wallet will be directly linked to the real owner of the account, that is, all transactions in the TON network will be identified with a specific person, because the account is created by phone number. This can only be avoided if the phone number was not registered to you.

My opinion is the following: I believe that TON, a built-in wallet, and registering a Telegram account using a phone number will not benefit digital freedom.

[AnonBitCoiner]

Telegram has to be the platform with the highest percentage of scammers of any available on the internet.  I would honestly guess that >90% of the registered accounts on Telegram have been registered with the intent to scam.  If there's a single app that should be nowhere near a cryptocurrency wallet, it's Telegram.  My advice to everyone would be to stay as far away from a Telegram wallet as possible and if you are forced to use the app for some reason, never engage in a cryptocurrency trade of any kind with people you interact with on there.

Telegram and twitter accounts both are used for crypt scam activity. Twitter is used for phising links while telegram is also used for stealing phrase and other data. Daily i receiving dozen of scam messages from scammers pretending to be a exchange admin. Telegram wallet is not secured at all and keeping fund there is high risky..

Telegram is often used for airdrop and at start i have joined many telegram bot airdrop. Telegram built in wallet will be useful for this but only work with Ton network. I think Telegram team are looking to achieve large number of telegram users who used wallet for funding but i don't think any experience person will use it. Only newbie and airdrop hunter will use it and we will see many scam case after some months.

[coinerer]

Companies use 12 words to encrypt account data and be able to change the password, and some of them are based on the same encryption structure as Bitcoin. these companies will integrate the ability to create public addresses for the accounts so that you receive money and you can spend it from any phone by downloading the application and inserting the twelve words, where you will be able to access your account and perhaps even After verifying the identity, access to the private key. I was amazed by Telegram and maybe we will see how the currency will perform in the next few weeks.

Telegram is a bad software there are huge amount of spammers and scammers. Telegram company introduced different rules for their application but not able to reduce scamming and spamming how can they ensure security of their wallet i am very confused about telegram wallet. so i am yet not interested for this. There are many non-custodial wallets in the market which are very secure so it is wise to use them.  But I wish you all the best in the new journey of Telegram

[DeathAngel]

Goad to see more mainstream companies willingly getting into crypto but I wouldn’t touch these type of ‘wallets’
It’s boring & everybody is sick of hearing it but it needs to be hammered home until every man & his dog is aware, not your keys not your coins.

[so98nn]

I am not very comfortable with the wallet that is able to fetch the data via in-chat application mode. I think it's very risky and there are chances that one can be a victim of phishing links. One can easily get trapped with hundreds of channels or groups that host likeable content to which we are subscribed. As we know very well telegram also has bot functionality and it is one of the authentication process when we enter new groups or let us say private chats. Who knows someday someone will create a bo, instead of getting verified on a channel we might just get phished with such bot. Isn't that fearful? Since wallets will be synched with telegram all the time, that is one of the possibilities that we can not deny at any cost. It's all about our money. I think it would be surely popular but as an individual I am good with my own wallet and non-custody is a safe passage to keep your funds safer in crypto. However, cheers to the community who is loving this idea. Hope it adds more money in the entire ecosystem.

[Sophokles]

Goad to see more mainstream companies willingly getting into crypto but I wouldn’t touch these type of ‘wallets’
It’s boring & everybody is sick of hearing it but it needs to be hammered home until every man & his dog is aware, not your keys not your coins.

What's wrong with it? Have you ever used it?

As per their press release, this wallet is still in beta testing mode, and the possible release date is Q4 of 2023. They claim that this wallet will be self-custodial, and we all know Telegram is an open-source social media app, so I don't think there will be any risk of using their features. They claim it to be a multi-currency wallet, so I am expecting BTC, ETH, and ETH-based tokens, and their native token, TON, to be available in that wallet.

[vv181]

~
This wallet is a custodial wallet, so it seems there is no way to save your own key. Also, it requires your mobile number to be linked with Telegram in order to use the wallet.

I think it's more like some kind of scam. A wallet that needs to be linked to your telegram account and you don't have a private key. Also, nothing has been heard about ton blockchain lately, but the coin has a huge capitalisation and is in the top cmc. I think it's kind of weird for a blockchain that hasn't shown anything yet.

It's just how centralized service works.

You are not using Tor (The Onion Router), VPNs (virtual private networks) to misrepresent your IP address and/or location.

Wallet performs blockchain analysis of transactions and reserves the right to freeze funds if suspicious transactions are detected and to report to the competent authorities as required by local AML/CFT legislation.

Wallet may suspend, restrict or terminate your access to any or all of the Services and/or Third party services if a valid subpoena, court order, or compulsory order from a public authority so requires.

As a centralized entity that manages and governs this wallet, it is a certainty they must set a policy in place to protect themselves from any legal cases. it is also noted, that they must comply with the Anti-Money Laundering/Combating the Financing of Terrorism Policy (AML/CFT Policy). As they have stated in their Terms of Use and User Agreements.

https://wallet.tg/Terms_of_Use_Wallet_Privacy_Policy_AML_CTF_Policy.pdf
https://wallet.tg/Terms_of_use.pdf

As per their press release, this wallet is still in beta testing mode, and the possible release date is Q4 of 2023. They claim that this wallet will be self-custodial, and we all know Telegram is an open-source social media app, so I don't think there will be any risk of using their features. They claim it to be a multi-currency wallet, so I am expecting BTC, ETH, and ETH-based tokens, and their native token, TON, to be available in that wallet.

Which press release?

Wallet was developed many years ago, and AFAIK, already not in beta test. It also has been released. It's also not self-custodial. Telegram is not a social media and there is a risk using their features.

[Dave1]

Goad to see more mainstream companies willingly getting into crypto but I wouldn’t touch these type of ‘wallets’
It’s boring & everybody is sick of hearing it but it needs to be hammered home until every man & his dog is aware, not your keys not your coins.

Yes, it's obvious that you will not have total control of it, so maybe those who are not into crypto might try it a bit or maybe they will just used it for their Telegram activity with others.

But for us, it's not a good idea specially putting huge amount of money on it. As you have said, not your keys not your coins.

And then there is also the threat of hackers and cyber criminals that can scoop our wallet anytime.

[CryptSafe]

I was wondering how safe it would be hence me bringing it here for discussion. So far the telegram platform is very porous and scammers carry out their nefarious act there which makes it not too conducive for most discussions and now Crypto wallet is about to take shape their with one storing or saving his or her assets there. What are the possibility that one can securely safe their assets there without having any issues of scam or hack through telegram hack?

Telegram has become a gathering place for Crypto enthusiasts. Telegram with cryptocurrency is nothing new. However, the problem is Telegram's security. Currently Telegram security is very easy to infiltrate. When Telegram creates a cryptocurrency wallet, there will certainly be lots of hacking attempts.
Or it could be by creating a fake link to the Telegram wallet. I have tried downloading the TON app but I am still not comfortable with the UI of the app.
I chose not to invest in TON but will still put it on my watchlist.

Telegram security is another focus point of discussion. I was thinking if the telegram team could give this security aspect of their app the attention it requires because the rate at which scams,hack and other acts are carried out on the telegram platform is something else.
The news of telegram wallets would trigger more acts from hackers and that would call for more work on the telegram application itself to strengthen the security features so as to prevent hackers gaining access to owners wallet.

If this is not properly taken care of and the hacks becomes obvious I doubt if people would keep the telegram wallet or think of storing their assets on the telegram wallet as everybody considers the safety of their wallet as a priority.

[Hispo]

Telegram has to be the platform with the highest percentage of scammers of any available on the internet.  I would honestly guess that >90% of the registered accounts on Telegram have been registered with the intent to scam.  If there's a single app that should be nowhere near a cryptocurrency wallet, it's Telegram.  My advice to everyone would be to stay as far away from a Telegram wallet as possible and if you are forced to use the app for some reason, never engage in a cryptocurrency trade of any kind with people you interact with on there.

I mean, I cannot deny Telegram is like a paradise for scammers. I have personally been targeted by them several times.
The amount of scammers and weird stuff taking place there may have much to do with the huge grade of freedoom and lax rules they have over users and their behavior.

I have taken a look to Ton and Telegram integration of that coin and I must say that (even though it would be a very risky investment) there could be a very bright future for Telegrams and Ton ecosystem, if somehow this messaging app gets more mainstream and scammers get moderated or kicked out somehow.

I have also noticed there is a big Russian population in Telegram.

[o48o]

-cut-
You don't need anything but a Telegram application. Head over to https://wallet.tg/, it is their official website, click Open Wallet, and the link will direct you to the bot within the application. The wallet is available on the desktop application, I haven't tried it on mobile yet, but since it is based on bot Telegram's feature, I think the wallet will be able to be used on mobile too.

This wallet is a custodial wallet, so it seems there is no way to save your own key. Also, it requires your mobile number to be linked with Telegram in order to use the wallet.

Well technically don't need the telegram application, in fact you never needed it as the wallet has existed for a long time not integrated to telegram in any way.
And i am not sure how they integrated it now but they used telegram bot for a long time to trade TON so that's not new.

I used to follow them but the way their voting played out was horrible. Masses make the worst decisions when they want to rise value fast.