As Telegram Joins The Crypto Wallet Family

Telegram’s new crypto wallet may give crypto a boost, or it may have some negative consequences. It may come with a mixture of positives and negatives. The decision was an obvious one; much of the communication on the platform has been about crypto for a long time. If people come to talk about crypto, then perhaps it makes sense to give them a chance to store and trade it on the same space.

This will no doubt broaden the range of services offered by the platform, and will even change the description of what it is, and what it does. It will also mean that regulatory hurdles are coming – including those from despotic governments who wish to censor crypto.

But the purpose of this article is not to spoil the fun; it is simple to look at telegram’s shiny new crypto wallet, and allow readers to make up their own minds.

Telegram Wallet – What it is

The telegram wallet – which is also known as the telegram wallet bot is a convenient space for holding crypto, as well as buying, selling, and exchanging. It runs on the TON block chain, and does not require a separate app to use it.

However, users will have to update their apps so as to see the telegram wallet bot. it is quite a neat and efficient app, which users report functions without any hitches. As with any app that holds money or objects of monetary value; the wallet is password protected. When users lose the password, it is easy to reset it though.

The app was released around 2022, and has continued to grow in popularity.

It has already made an impact; it has become a launching ground for new cryptocurrencies. Most notably it was the Launchpad for Notcoin, which launched in 2024.

Impact of the Telegram Wallet

Starting with Telegram’s native cryptocurrency TON or Toncoin, the platform has produced several successful launches including the popular play to earn game Notcoin, which has gone on to set the pace for many more crypto launches.

Many more crypto coins have been coming up, particularly with the model of playing to earn. Therefore, telegram has been transformed into a tapping for coins platform where crypto enthusiasts go to “mine” coins by playing games which reward them with coins that they can exchange for cash when the crypto coins get listed.

These tapping for crypto games have become very popular across the world, meaning that Telegram is shaping up to be one of the most important crypto exchanges in the world. The numbers are unclear, but the app already had 900 million monthly users before becoming a crypto hub, and now there are tons of new registrations because of this feature.

The Death of Crypto?

Crypto as an idea was already facing a problem with the proliferation of shitcoins. Every day, meaningless coins pop up all over the place, dragging away attention and liquidity from the crypto projects that really matter.

Just when crypto watchers thought the trend might be slowing down, “tapping for coins” and games that reward people with crypto coins have taken the center stage. What this means is that the world is going to see even more worthless coins circulating all over the place.

There will be even less time and interest dedicated to the crypto projects that can impact positively in the world.

People will start to see the entire crypto space as a place for tapping for coins that go to zero in around 3 months. The idea that crypto is a safe haven from the corrupt banking system will fade into the background, and the theory of deflationary assets which can help the poor store and grow value will be completely thrown to the wind.

Unless something changes.

Change In Our Attitudes Is Needed

The telegram wallet cannot reasonably be blamed as the cause of the proliferation of useless tapping coins. If the trend hadn’t started at telegram, it would have started somewhere else. Telegram just happened to be at the right place at the right time.

The real problem starts in our minds. We all have focused out attention of short term gains which can come from quick pump and dump crypto schemes, rather than on crypto projects that can add some value and change the world for the better.

Therefore, the change that we need is in our hearts and minds. We need to turn our eyes away from pump and dump schemes, and focus on real crypto projects like Bitcoin, Solana, and Cardano. That way, shitcoins will naturally fade away, and the real potential of wallets like Telegram and others who serve as depositaries where people can easily assess their crypto holdings.

Is The Telegram Wallet Sustainable?

It seems as if the telegram wallet is disproportionately tied to the “tapping for coins” crypto schemes. If that is the case, it is going to be full of shitcoins. It may therefore appeal to users who prefer these kinds of crypto coins.

If that scenario holds true then the Telegram Wallet is going to last as long as shitcoins are around. As soon as people stop tapping their phone screens in order to get worthless coins, then nobody is going to care about Telegram Wallet.

A parallel scenario would be that people find some reason to put their real crypto holdings there. Maybe they find some advantage like ease of use, more privacy, or more safety from hackers as well as from governments looking to take the profits people make from trading crypto.

The bottom line:

Telegram’s wallet is the preferred launching for some types of crypto, including those that require users to tap their screens or play games in order to be rewarded with crypto. In fact, this has become a very popular activity – one that is not going anywhere soon.

Therefore, Telegram wallet is a revolutionary product; one that allows users to “mine” coins in a cheap and fun way. If “mining” which is akin to printing money is supposed to be a fun activity, then the world will reap the rewards that come with it. Otherwise, it could lead to some serious consequences for cryptocurrency.

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