BUTTON Wallet, a messenger based multi-currency wallet has today revealed a free cryptocurrency test program on Telegram, a messaging application which has more than 300 million users. The wallet, which is set to be fully launched in October is offering Telegram users the chance to experiment and familiarize themselves with how the wallet works on the application, without the risk of losing actual money.
The BUTTON Wallet is available to all Telegram users and can be activated from the Telegram app. Users will receive 6.6 testnet gram- Telegram’s cryptocurrency in their wallets if they participate in the test.
Good News for Cryptocurrency
According to Alex Safonov, co-founder and CEO of Button Wallet, while there has been a visible increase in the knowledge and use of cryptocurrency, a major obstacle faced by digital assets is lack of mass adoption which is mainly due to fear. This fear, Safonov says, prevents people from adopting cryptocurrency. The goal of the wallet is to take away that fear by giving people the chance to trade without the fear of losing their assets.
“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”, said Safonov.
The Button Wallet is set to solve the problem of mass adoption which cryptocurrencies face by giving people the chance to see what crypto transactions are like without risking anything.
Also speaking on the testnet, Rachael McGray, COO at Button reiterated that
“there’s common fear around crypto preventing some people from becoming new users. Giving them the ability to practice performing transactions helps remove fear around trading real digital assets”
BUTTON Wallet has added 140,000 users since it was launched in late 2018 and hopes to expand that through the current testnet program on the TON network.
Telegram, the third-largest messaging platform in the world, is available in several countries around and has its own smart contract language, Fift which is the only way anything can be built on Telegram’s Open Network (TON). BUTTON Wallet, which works just like Venmo but for crypto, supports BTC, BCH, ETH, ETC, LTC, Waves, Dai and ERC-20 as well as fiat and now GRAMS.
The cryptocurrency market started out this year on a low note with Bitcoin under $4000 and only came out of the bear market mid-year. However, reports have shown that interest and adoption of digital currencies has picked up since then. A survey by HBUS showed that the percentage of people who have cryptocurrency in the United States doubled from last year’s number. Frank Fu, CEO of Huobi in May 2019 said that “despite the volatile crypto markets, we’re seeing governments and businesses adopting blockchain technology at a rapid pace.”
Whatever the reason behind the increased interest in cryptocurrency, BUTTON Wallet seems determined to make it easier for people who might still be entertaining doubts or fear about how things work in the cryptocurrency space.
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Victoria is a Nigerian journalist and entrepreneur with a background in Communications. She’s interested in writing about Cryptocurrency, Blockchain and Humans. She owns a tad bit of BTC and ETH and her favorite thing to do is sit by the ocean listening to Beyoncé. You can catch her on Twitter @veekietoria and LinkedIn or mail her at victoria [at] coingape.com