Telegram has evolved far beyond a simple messaging app, transforming into a multi-functional platform that caters to a wide array of user needs. One of the most significant additions to its ecosystem is the Telegram Wallet, a feature that enables users to manage their cryptocurrencies and perform financial transactions directly within the app. 

This guide will walk you through setting up your Telegram Wallet, exploring its features and reasons for its popularity among financial enthusiasts, and showing one great example of a successful project launch on the TON chain, that even led to listing!

What Is Telegram Wallet?

Telegram Wallet is a TON (The Open Network) self-custodial blockchain-based crypto wallet that allows Telegram’s more than 900 million monthly active users to buy, sell, send, and receive cryptocurrencies like Bitcoin, Tether (USDT), and the native TON coin directly within the Telegram app. In addition to supporting TON, Bitcoin, and USDT, the wallet provides access to decentralized applications (DApps) built on the TON blockchain ecosystem. 

Telegram Wallet was initially launched in 2022 as the @wallet bot, providing basic crypto transaction capabilities. In November 2023, it was fully integrated into Telegram’s settings as “TON Space” in partnership with The Open Network Foundation. The year 2024 is going by the flag of the boom of the projects built on TON and the Wallet, overtaking Bitcoin and other cryptocurrencies and becoming a fast-growing L1 network due to recent changes in the ecosystem.

Key Features of the Telegram Wallet

The Main Features of the Telegram Wallet include the following:

• Cryptocurrency Transactions: Send and receive various cryptocurrencies, such as Bitcoin and TON (Telegram Open Network’s cryptocurrency).
• Fiat Integration: Convert between fiat currencies and cryptocurrencies directly within the wallet.
• Transaction History: Access detailed logs of all transactions performed using your Telegram Wallet.
• User-Friendly Interface: An intuitive and easy-to-navigate interface for all experience levels.
• Low Entry Threshold for Beginners in Cryptocurrency: Even if you never faced crypto transactions or anything related to crypto, this Wallet is one of the best to start with.

Supported Currencies:

• Cryptocurrencies: Bitcoin (BTC), TON, USDT, and other major cryptocurrencies.
• Fiat Currencies: Integration with major fiat currencies, allowing seamless conversions.

How to Set Up Telegram Wallet?

To set up the Telegram Wallet you need to follow this Step-by-Step mini-guide:

1. Open Telegram: Launch the Telegram app on your device.
2. Access Wallet Bot: Search for the official Wallet Bot (@wallet) and start a chat with it.
3. Create Wallet: Follow the prompts to create your wallet. You’ll be asked to set a PIN for security.
4. Backup Recovery Phrase: Telegram Wallet will provide a recovery phrase. Write this down and store it securely as it’s crucial for recovering your wallet if you lose access.
5. Verify Setup: Confirm your wallet setup through the prompts provided by the Wallet Bot.

To feel safe and secure even with the self-custodial wallet, we also recommend you use these security tips:

1. Enable Two-Factor Authentication (2FA): Add an extra layer of security to your Telegram account.
2. Use a Strong PIN: Ensure your wallet PIN is unique and not easily guessable.
3. Keep Recovery Phrase Safe: Store your recovery phrase in a secure place, away from prying eyes.
4. Be Cautious with Links: Avoid clicking suspicious links or downloading unverified attachments.
5. Regularly Update Telegram: Keep your app updated to benefit from the latest security patches.

Benefits of Using Telegram Wallet

Using Telegram Wallet today has a lot of benefits if you are looking for a tool for investments or holdings that will always be near you. Here are some key benefits of using the Telegram Wallet that may sound attractive if you’re choosing the tool for your trading or investing experience:

1. Secure Storage of Digital Assets: Telegram Wallets provide a secure place to store different cryptocurrencies, keeping users’ digital assets safe. The TON ecosystem offers decentralized features and robust security measures to protect users’ funds and transactions.
2. Instant Transfers and Payments: Users can swiftly send, receive, and perform transactions with cryptocurrencies on the TON network. This enables seamless peer-to-peer payments and transfers within the Telegram ecosystem.
3. Integration with Telegram Messenger: The @wallet bot and TON Space allow users to manage their digital assets directly from their Telegram accounts. This integration provides a convenient and familiar interface for crypto management within the popular messaging app.
4. Access to a Wide Range of Cryptocurrencies: While initially supporting TON, USDT, and Bitcoin, the Telegram Wallet may expand to include more cryptocurrencies in the future. This allows users to manage and transact with multiple digital assets from a single wallet.
5. Decentralized Finance (DeFi) Integration: Telegram Wallets connect with DeFi systems, enabling users to participate in yield farming, liquidity provision, and other DeFi strategies to maximize returns on their investments.
6. NFT Support and Marketplace Integration: Users can buy, sell, and trade non-fungible tokens (NFTs) directly from their Telegram Wallets, providing access to the growing NFT ecosystem.
7. Massive User Base: With over 900 million monthly active users on Telegram, the integration of a crypto wallet brings the potential for widespread adoption and accessibility of digital assets.
8. Convenience and Familiarity: The seamless integration of the wallet into the Telegram app provides a user-friendly and familiar experience for managing cryptocurrencies alongside regular messaging and communication.

In general, the Telegram Wallet offers a secure, convenient, and integrated solution for users to store, manage, and transact with various cryptocurrencies and digital assets within the popular Telegram ecosystem, leveraging the benefits of the TON blockchain and the platform’s massive user base.

At the same time, we want to mention that this content was created for informational purposes only, without any investment or financial recommendations. Be attentive and careful when facing the cryptocurrency market and the operations there.

The Notcoin Phenomenon

Telegram Wallet is more than just a storage tool for cryptocurrencies; it also serves as a gateway to a variety of gaming and financial applications. These apps provide additional functionalities that enhance your gaming and financial experience within Telegram. As Telegram Wallet and TON collaborated, many built-in apps appeared within Telegram Messenger.

So, for example, at the beginning of 2024, there was a huge surge in projects built into TON, including those using Telegram Wallet as one of the ways to withdraw some awards from the game. One of the most popular and hyped applications was Notcoin. 

Notcoin is a meme coin created as a mini-app within Telegram, where you can “mine” NOT coin just by tapping on an icon. Since its inception, this free Telegram clicker game has become a huge success. Notcoin garnered the interest of nearly 500,000 users during its beta phase, with over 650,000 players collectively mining more than 60 billion Notcoin. Following its official launch on January 1, 2024, the game’s popularity soared, attracting 6.3 million players in just 10 days! 

In the beginning, not so many people believed in the success of Notcoin because it all seemed like a scam. However, 35 M people still taped on the screen and “mined” the NOT coin. Why did it become so popular, and why did it all end up with the splash of the built-in apps on TON? 

Notcoin’s popularity can be attributed to its memetic appeal, strong community engagement, accessibility, and innovative approach. That popularity, in turn, catalyzed the growth of built-in apps on the TON blockchain, as developers sought to capitalize on the large and active user base. The seamless integration, enhanced functionality, security, and financial opportunities provided by TON created a thriving ecosystem of applications, further solidifying Notcoin’s place in the crypto world and driving the overall growth of the TON network.

Another important reason why Notcoin became so popular is that creators decided that every piece of news would be fueled by intrigue about whether the listing of the coin would take place, whether it would be worth anything at all, or whether it was all a dummy. The intrigue played its role and on the 16th of May people saw the official listing of the Notcoin. Crypto players were shocked and happy at the same time. Players could finally convert the coins accumulated in-game into real tokens on TON. 

Within the first hour of its trading, Notcoin recorded a trading volume of $294 million. The maximum supply of NOT is capped at 102 billion, with 3% allocated to Binance Launchpool users and an additional 1.5% reserved for OKX Jumpstart users. Now the NOT coin is traded at $0,005393, but what will happen with its price in the future? It may face the correction phase of the market and follow the Bitcoin bull run rally. Or not. The time will show.

The Future of the Built-in Telegram Apps

The popularity of Notcoin and the TON ecosystem attracted investors and speculators looking for new opportunities. The potential for high returns on investments in new apps and tokens spurred further interest and development. In addition, developers and users alike saw numerous ways to monetize their participation in the TON ecosystem, from staking and trading to creating and using various financial applications.

In this case, and also seeing how other projects are willing to gain the same popularity as Notcoin, we can assume that the future development of the apps is near (or even stepping on our heels). So, we decided to research and offer the main future features of the built-in-Telegram applications:

• Enhanced Financial Services: Expect more sophisticated financial services, such as lending, borrowing, and insurance, to be integrated into Telegram Wallet.
• Broader Cryptocurrency Support: Anticipate the addition of more cryptocurrencies and fiat options to meet diverse user needs.
• Increased Adoption: As awareness grows, more users and businesses are likely to adopt Telegram Wallet for its convenience and robust features.

Bottom Line

Telegram Wallet represents a significant advancement in digital finance, offering a secure, convenient, and integrated solution for managing cryptocurrencies and performing financial transactions. With its growing ecosystem of financial apps, enhanced security measures, and user-friendly design, Telegram Wallet is poised to become a central tool for personal and business finance management. 

With the TON collaboration, Telegram Wallet became a huge part of the built-in Telegram app ecosystem, providing a convenient way of holding assets or investing them right inside of the Telegram application. It, of course, will be used as a crucial part of the future projects’ development, at least as a try to repeat the Notcoin’s success. 

Whether you’re a seasoned crypto investor or a newcomer to digital currencies, Telegram Wallet provides the tools and resources you need to confidently navigate the financial landscape. However, you should always remember that cryptocurrency is a volatile instrument, and whenever you come across any transactions in this market, you must always be vigilant and careful. Do your own research, make decisions with a fresh and clear mind, and stay up to date with the latest developments in the fintech space to be sure that you’re aware of everything that’s happening.