Becareful with telegram wallet!
Becareful with telegram wallet!
For several times, it has been discussed here that we should avoid storing assets in custodial wallet in order to avoid lose of funds. Telegram as one of the controversial social media platform has enabled wallet feature on their app for premium users. I read a thread here sometimes back asking how secure and reliable it is to use telegram wallet and many users here kicked against it (I can’t find the thread as reference).
This very morning, a colleague in one of our platform brought a telegram related issue to platform seeking for help. He created a wallet on the app and store some funds there but unfortunately Telegram banned his number from accessing their services and that means automatic lose of funds. I don’t know if there’s a faster way to appeal for unban but I also have the same issue for over a year now and effort to unban the number prove abortive.
Creating a secure non custodial wallet won’t take up to ten minutes or even less. I don’t know the level of conveniences these unsecured wallets offer that people tend to be making such mistakes of using them for their asset storage. Not your keys, not your coins has been an anthem for as old as crypto exits but we turn deaf ears until things get worse before we learn. This is not only applicable to Telegram wallet but to all wallets which you have no control over the phrases. It is as good as if you have no asset because the custodian can deny you access at any time.
I believe that TONcoin is only available in the Telegram wallet and that there are no other exchanges that provide functionality for trading this particular coin.
But hey it wouldn’t surprise me that Nigeria of all places has their phone numbers banned, because of their government’s hostility towards cryptocurrency in general.
In my opinion, you need to use the software for its intended purpose without cluttering it with unnecessary functions. I mean that the Telegram program itself is intended for communication; initially, it was the most common communication between people. After groups appeared, now it is possible to add wallets. Telegram looks like a New Year tree, which is hung with different buns. At the same time, we regularly see various scams from Telegram groups and, of course, sudden blocking for actions that are incomprehensible to the owners themselves. By the way, Telegram can be hacked very easily; if you follow the links sent to you, one day you can become a victim of hacking, which once again proves that storing money separately is very smart and safe. There is no need to mix everything. Multifunctionality is only useful in the kitchen.