How to Create a Telegram Wallet, It's Easy!

Bittime - Want to dive into the world of crypto but confused about which wallet to choose? Telegram now comes with a Telegram Wallet feature which is ready to make things easier for you! So, this article will discuss how to create a Telegram Wallet. It's easy!

With this crypto wallet from Telegram, you can store, send and receive crypto directly from the familiar Telegram application. This article will discuss how to create a Telegram Wallet. Let's first discuss what Telegram Wallet is and what its advantages and disadvantages are.

What is a Telegram Wallet?

Telegram Wallet is a crypto wallet service that is directly integrated with the Telegram application. This service operates on the TON blockchain and offers convenience. 

Unlike non-custodial wallets like MetaMask, Telegram Wallet is custodial, meaning the management of your assets is entrusted to a third party.

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While this raises security concerns, Telegram Wallet also offers benefits such as easy password recovery through customer service.

With Telegram Wallet, you can carry out various crypto transactions. This includes buying and selling, exchanging, and transferring TON directly in Telegram chat, all without transaction fees! 

Not only that, this digital wallet also supports "multi checks" to make it easier to share crypto with many Telegram channel users at once. For those who want to trade crypto at attractive prices, the P2P Market feature is also available.

In September 2023, Telegram introduced a self-custodial option in Telegram Wallet called TON Space. This feature, which is still in beta, is aimed at experienced crypto users who want a crypto wallet that they manage themselves. 

The launch of TON Space is quite significant. This was marked by the price of Toncoin soaring almost 14% after the announcement. After knowing what a Telegram Wallet is, below is how to create a Telegram Wallet, check it out!

How to Create a Telegram Wallet

Creating a Telegram Wallet is easy! Follow these steps:

1. Open the Telegram app and search for "@WalletBot".
2. Click the "Start" button and then "Open Wallet".
3. Follow the instructions provided.

Once finished, you will immediately see your active Telegram crypto wallet. The wallet's main screen displays several important features:

• Total Balance: Your total balance. You can change the currency display through settings.
• Add Funds: Top up your balance in various ways, such as purchasing crypto using a bank card, P2P transactions, or transferring from another wallet.
• TON Space Beta: Your gateway to the TON blockchain. You can view your Toncoin balance and manage NFTs. In the future, this feature is also promised to be connected to decentralized applications (dApps).
• Other Assets Balance: Apart from Toncoin, Telegram Wallet also supports Bitcoin and Tether. It is not yet known whether Telegram will add other crypto assets in the future.

Advantages and Disadvantages of Telegram Wallet

Just like other crypto wallets, this platform also has advantages and disadvantages. What are the advantages and disadvantages of Telegram Wallet? Check out the explanation below!

Advantage:

• Seamless Integration: No need to download additional applications, Telegram Wallet is already included in the Telegram application that you use every day.
• Practical: Send money to friends, family or businesses directly in Telegram chat. Transfers between Telegram users are free!
• Security: Telegram Wallet ensures transaction security thanks to the encryption used in the application.
• Fixed Withdrawal Fees: Withdrawing money from the wallet is charged a flat $2 fee, which is more economical for large transfers than other platforms that use percentage fees.
• Crypto Support: Currently Telegram Wallet supports three major cryptocurrencies: Bitcoin (BTC), TON, and Tether (USDT).

Disadvantages:

• Account Dependencies: If you lose access to your Telegram account or delete it, access to your wallet is lost forever.
• Attack Vulnerabilities: If someone else manages to access your Telegram account without permission, they could transfer all the money in your wallet, and Telegram may not be of much help.
• Withdrawal Limits: Depending on account verification, there may be a limit to the amount of money you can withdraw from your wallet at once.

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Conclusion

By knowing how to create a Telegram Wallet, you can find it easy to manage crypto directly in the Telegram application. However, keep in mind that Telegram Wallet is custodial, so make sure you understand the risks and advantages before deciding to use this service. Good luck!

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.