WILL BUTTON WALLET AND TELEGRAM’S 300+ MILLION USERS BOOST CRYPTO ADOPTION?

Could Telegram’s 300 million users be about to boost cryptocurrency adoption?

Non-custodial multi-crypto wallet provider BUTTON Wallet, which boasts over 80,000 users in 118 countries, has announced a free testing service on the Telegram Open Network (TON).

According to a 26^th August Forbes report, the client application is giving away 6.6 testnet gram tokens, the TON blockchain’s native currency, to users who activate its wallet.

Given the sheer user base of Telegram, if BUTTON Wallet can encourage people to try its service, it could be a massive onboarding opportunity and help power the mainstream adoption of crypto even further.

BUTTON Wallet’s co-founder and CEO, Alex Safonov, explained that by giving people the opportunity to try out transacting digital assets, without the risks of using real money, it will put people at ease and get them used to the concept.

Regarding the crypto ‘mother story’ of the moment, Facebook’s Libra, Safonov pointed out that unless people get real experience of using crypto services, adoption will continue to lag behind the potential of the technology and systems.

Rachel McCrary, BUTTON Wallet’s COO pointed out that security fears surrounding cryptocurrencies are also putting some people off – though this week’s reports of a security flaw in Telegram that is leaking phone numbers (something particularly concerning for those protesting in Hong Kong) won’t help on this point!

Proud to announce our partnership with @telegram to unveil the first free cryptocurrency testing playground on the Telegram Open Network (TON).https://t.co/JcMJ3e1Est #telegram #crypto

— BUTTON Wallet (@ButtonWallet) August 26, 2019

AYO.NEWS says:

With both Telegram and Facebook’s trio of messaging services (Messenger, WhatsApp and Instagram) having massive user bases, they are obviously the ideal platforms for driving mass cryptocurrency adoption in many ways.

However, given the role these platforms play in communications, and the vast amount of personal information entrusted to them, they absolutely cannot afford more privacy issues or security breaches. As we’ve said before, Facebook may have bounced back from many crisis in the past, but when people start entrusting their financial transactions to it, or Telegram, they should expect a very different tolerance threshold!