Users on mobile messaging giant Telegram will soon be able to test how to trade cryptocurrencies.
According to an announcement released today, the developers of Button Wallet, a popular messenger-based platform for trading Bitcoin, Ethereum, Bitcoin Cash, Litecoin and several other cryptocurrencies, are launching a free digital currency testing playground on Telegram’s Open Network (TON).
The pilot will allow users to access free crypto distributed on the Button Wallet. Each user will receive 6.6 testnet GRAMS to practice, minimizing the fear and risk of using their own cash.
Button’s management believes that giving Telegram’s customers the opportunity to buy or trade crypto assets without having to risk real money will help promote the launch, which is scheduled for October 2019.
Says Button Wallet CEO and co-founder Alex Safanov,
“Cryptos’ biggest obstacle is mass adoption and what we’ve created will help people [become] comfortable with trading cryptocurrency without using real money…
With all the fanfare surrounding Facebook’s Libra digital currency, there hasn’t been a way to explore digital assets without risk, until now with Button Wallet and the Telegram Open Network.”
According to Safanov, users can learn the “ins and outs of how the messenger banking ecosystem works,” which could lead to increased consumer confidence and mass adoption of cryptocurrencies.
Rachael McCrary, chief operating officer at Button Wallet, says,
“There’s [a] common fear around crypto which is preventing some people from becoming new users. Giving them the ability to practice performing transactions helps remove fear around trading real digital assets.”
The company says that activating the TON wallet and receiving 6.6 testnet GRAMS is easy and starts with users downloading and installing the Telegram app.
According to Button Wallet,
“The TON release is one of the most valuable events since the arrival of Bitcoin, bringing cryptocurrency to a new level of mass adoption, thanks to Telegram Messenger’s 300 million users.”
Telegram, which allows users to send messages, videos or multiple file types, including zip and pdf, has a user base of roughly 300 million, according to the New York Times, making it one of the largest social media platforms. It has a number of channels for crypto enthusiasts who watch signals and track trades, with support for secret chat functionality and supergroups with up to 100,000 members.