How did Telegram become a cryptocurrency trading tool?

What is cryptocurrency in simple words?

Cryptocurrency is a digital form of fiat money that provides its users with all the same financial opportunities and even more. It first appeared in 2009, when an unknown character nicknamed Satoshi Nakamoto developed a coin with electronic algorithms - Bitcoin. At that time, the use cases for cryptocurrencies were very limited and were not used in everyday life, because it was treated with caution.

It is impossible not to agree that the cryptocurrency has a risk, however, there are many more positive aspects of digital assets. For example, it can be used to make both small and large purchases. You can buy a variety of goods: household appliances, electronic devices, bicycles, paintings, clothes, jewelry, land plots, houses, cars and so on. Services can also be easily purchased by paying with crypto. However, cryptocurrency is used not only for this.

One of the popular ways to use cryptocurrencies is investing. It can occur by investing money in digital assets or by investing digital assets in startups and business projects. The next one can be called mining or coin mining. And, of course, crypto trading for the purpose of further earnings. In this article we will tell you how to earn crypto using the Telegram social network.

Telegram Messenger

Telegram is a global, free, cloud-based service for lightning-fast messaging from all corners of the earth. This application provides its users with not only sending letters, but also files of different sizes, music, documents, video calls, secret chats, favorite messages, as well as a VIP account, which expands the boundaries of the client's capabilities. Telegram is often used as one of the ways to transfer information. You probably have your favorite telegram channel with music, news and other things that you visit daily. Are you subscribed to telegram crypto chats? Today we will analyze in detail what connection cryptocurrency and Telegram have.

Telegram and digital currency

To date, Telegram is constantly improving, because it has a huge number of daily users who are hungry for new products. The project developers decided to introduce digital technologies into their application, and now cryptocurrency in telegram is a real phenomenon. What electronic coins does telegram support? Right now it only supports two coins – BTC and TON. The second was developed with the aim of functioning within the framework of this messenger. Toncoin was issued by the TON Foundation project led by Pavel Durov. With this coin, you can pay for services and purchases in Telegram, as well as send it to other users. The idea of adding crypto to Telegram came to Durov's mind back in 2018. He began to implement this idea with the creation of a project based on Blockchain algorithms - Telegram Open Network. It was planned to create a personal cryptocurrency called GRAM. Pavel Durov promised that the processing of transactions of his cryptocurrency would be many times faster than bitcoin and ethereum. However, it was not possible to scale the project as Durov wanted. Over time, the US government demanded to pay a percentage of each commission and issue them according to all required documents. Of course, it was financially unprofitable for the project. And Durov was forced to abandon his idea. We hasten to clarify that he was not the only one who wanted to develop this project, and over time, a group of programmers took up this matter and renamed the project to "The Open Network", and the Gram cryptocurrency to Toncoin.

At the moment, the TON Foundation presents itself as an independent company. The exact number of participants is unknown. The project continues to develop, collect donations for further improvement and advertise itself as a suitable Blockchain for the WEB3 ecosystem. Durov, who has been living in Dubai for many years, has renounced his Russian citizenship but continues to support the project. About the project, he says: “I am proud that the algorithms that we have developed are fully functional, TON will be years ahead of other projects in the same area.”

The function of sending crypto via Telegram greatly simplifies the use of the Toncoin coin, since the coin holder no longer needs to pay an additional commission, as happens on exchangers and exchanges. Here it is enough to add a special telegram bot and link your bank account to it. After that, you can easily send cryptocurrency in the form of a regular message. A similar function was observed in the social network Twitter. Using the Tip Jar algorithm, you can transfer bitcoins, as a token of gratitude for the popular services Patreon, Cash App, Venmo.

Trading and telegram bots

Trading is now quite common on the digital market, as it is available to both legal entities and individuals. To start trading crypto, you need to have a personal computer, the Internet and a special program that will record the conclusion of financial transactions on the cryptocurrency exchange. Or you can use your mobile device, which will also allow you to carry out transactions and make your work much easier. For example, the Telegram mobile application, namely the Telegram bot for trading. The messenger has long been used as a financial instrument in a variety of ways. It often acts as a signal for trading. In addition to the signal, the bot can perform other functions for merchants, for example:

• script function to optimize personal information transactions;
• the function of a market maker to form the liquidity of a particular coin;
• the role of a merchant allows you to receive recommendations and technical analysis of coins and tokens;
• arbitration — provides for direct earnings;
• self-management of the process from A to Z for experienced traders.

Often, telegram trading bots work as hints that generate the best trades, while analyzing the market in detail. Many trading platforms have already developed personal bots, which allow trading without going to the site, but immediately through the bot. For example, Binance Telegram signals. However, it is important to understand that this method is also used by attackers who want to earn your money by dishonest work. They create scam telegram bots through which they carry out their fraudulent schemes. It will be unsuccessful to return the money here, however, such sites are not durable, they are quickly closed.

How to make money with trading bots?

If you want to start making money on trading using Telegram and bots, then we advise you to study in detail the algorithms, mechanism and principles of its functioning. It is important to understand one simple thing for yourself: the bot only transmits an order or generates profitable points for itself. Most likely, you want to get more profit from this kind of activity, but it is important to understand that this is only possible if your knowledge is greater and deeper than that of the bot. A systematic approach is important here. Beginners should study a ton of information and go through many sources in order to be confident in their abilities, since cryptocurrency is almost always a risk. You must clearly understand the algorithms of the market, digital assets, have the skills to analyze and form a strategy, be able to open a deal and close it. Also, the skill of systematic earnings directly depends on the correct distribution of their finances. And the ability to manage your emotions and keep a cold mind will always allow you to remain unshakable and follow only your strategy.

Telegram and mining

Telegram mining is available to users only when using special automated bots. From a technical point of view, crypto mining is possible on any device, be it a computer, laptop or phone. The main thing is that your gadget has large amounts of memory for future computing operations. Since mobile devices do not have such large memory reserves, mining here automatically becomes impossible. But since Telegram successfully functions on a PC, crypto mining with its help is quite real.

What information channels exist in Telegram that are related to crypto?

Telegram is now used as a significant information resource that supplies the whole world with news. There are a variety of telegram channels that provide a lot of useful information. Since we are interested in information technologies, namely in crypto, then we advise you to pay attention to these resources in Telegram:

• Forklog;
• The trader responds;
• Cryptoanalyst;
• RBK crypto;
• DeFi Scam Check;
• Cryptohamsters;
• BitLenta;
• Crypto millionaire.

All these sources of information collect the most relevant materials, reports, analytics, news about the crypto world. They are the first to issue telegram cryptocurrency forecasts and press releases, which help many readers to stay up to date with all the events.

Conclusion

As you have already noticed, Telegram has become a huge platform that contains an endless amount of information and has practically no competitors. Every day the number of its users is only increasing, as it brings them a lot of advantages. Experienced crypto addicts, traders and investors have long been using it for their commercial purposes and not only. If you understand in detail how exactly  crypto works in tandem with telegram, then you can turn this application into a stable financial instrument for yourself, which will bring profit in the future.