Telegram Users now has Built-in Bitcoin Wallet service, dubbed Telebit

Telegram Users now has Built-in Bitcoin Wallet service, dubbed Telebit


With the increasing trend in using bitcoin as a payment currency for online commerce, Telegram added a new feature in their latest system update, which adds a new service named Telebit. With Telebit, 50 million users of Telegram instant messaging app are able to send bitcoins between other users seamlessly.

On their announcement back on the early February in social media, Telegram revealed that they will implement a third party program named Telebit on their latest update. Telebit allows the users of Telegram Instant messaging app to hold and transferring certain amounts of bitcoins to their contacts without needing to register or providing bitcoin addresses to each other

As announced by the developers on their social media status back on February 19, Telebit is the latest attempt in merging the popularity of Bitcoin wallet with Telegram messenger app. Since many of its competitors such as GetGems and SendChat uses Telegram client to handle the bitcoin trading by using their own third party program apart from Telegram, the developers feels obliged to announce the official version Telegram’s own Bitcoin Wallet to ensure the safety and credential security of its users.

Unlike their competitors, Telebits gains leverage for its seamless integration with Telegram app that is available in many device platform, and gains further advantages of having over 50 million user base of Telegram, who also became a promising prospect in using Telebit service.

To use the Telebit wallet, you can input several commands to the user @Telebit (+1 760-486-2777) that will forward your requests to the server based on the command that you have inputted. Several commands that you can use is as follow:

  • HELP: shows you the Help menus
  • SHOW LOVE: Voluntary donates 0.001 BTC into TeleBit account from your wallet
  • BALANCE: Shows your account balance
  • WALLET: Shows your Bitcoin Wallet Address
  • SEND [amt] [bitcoin address]
    • Used to send [amount of bitcoin you want to send] to [bitcoin address] (additional 0.0001 Fee)
    • Example: send 1 teitoku97
  • PRICE: Shows the recent BTC to USD Price that is supplied by BitFinex
  • HISTORY: Show a maximun of 5 recent transactions
  • NEW ADDRESS: Generate another new Deposit Address of your wallet. Every previous address will be remaining in effect as well.
  • FORWARD [wallet] [threshold (optional)]:
    • Forward your bitcoin balance to another [wallet] if the balance has exceeds [threshold]
      • The threshold level is optional. If it is not set, all deposits will be forwarded (with 0.0001 transfer fee).
      • Example: forward teitoku97 0.002

In order to transfer money to the contact, you need to share the recipient’s Telegram contact to the Telebit along with the number of Telebit coin you want to transfer. On the security side, the Telebit is the one who handle all the transaction when you use this service. So it is recommended to only use this service to transfer bitcoin money on a small amount to avoid any loss issues.

(4 raters, 19 scores, average: 4.75 out of 5)
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