Cryptocurrency trading became very popular in the past few years due to the massive returns on the investments. However, a large section of the trading community is still about to adopt digital currency trading.
With an aim of mass inclusion into cryptocurrency trading, Button Wallet is bringing peer-to-peer digital asset services to the 300 million Telegram app user.
The company on Monday unveiled its cryptocurrency testing playground on the Telegram Open Network (TON) and is giving away a small amount of Gram token to encourage traders.
“Cryptos biggest obstacle is mass adoption and what we’ve created will help people comfortable with trading cryptocurrency without using real money,” Alex Safonov, co-founder and chief executive of Button Wallet, said.
Operating as a peer-to-peer trading platform, the company is claiming that it is completely prone from other centralized exchange issues including threats of attack on the exchange-stored funds.
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“Our goal is to give people an avenue to participate in peer-to-peer transactions without risks on one of the largest messenger platforms, Telegram. This will help teach consumers the ins and outs of how the messenger banking ecosystem works, creating consumer confidence and furthering mass-market adoption of digital assets,” Safonov added.
Largest ICO so far
Telegram unveiled its native blockchain network in early 2018, followed by an initial coin offering (ICO) via which the company raised around $1.7 billion, making it the largest ICO so far. The token sale, however, was conducted behind closed doors, away from the retail investors.
In June, Liquid, a Japanese crypto trading platform, conducted a public sale of Telegram’s Gram token which it acquired from its investments.
Button Wallet is not the only player tapping the existing users of an established messaging platform. Earlier this year, Zulu Republic launched services to receive and send crypto over WhatsApp.
“There’s 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,” Rachael McCrary, chief operating officer at Button Wallet, added.