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Telebit, the Telegram Bitcoin Wallet

Last Updated March 4, 2021 4:43 PM
Joel Dalais
Last Updated March 4, 2021 4:43 PM

Former co-Director of SatoshiPoint , Jonathan Harrison, and Eric Goforth of cexstar.io (now defunct), have teamed up and developed Telebit, the bitcoin wallet for telegram.

Telegram is an open source instant messaging application that boasts over 50 million users, citing a free privacy orientated, open API, distributed servers, cloud-based messaging application. It is available for Android, iPhone, iPad, WP, web-version, Mac OS X, and PC/Mac and Linux. Users of each now have a bitcoin wallet.

You can send bitcoins between phones without the requirement of creating new wallets or bitcoin addresses, and you can send coins to any of your contacts without needing to request a receiving address, or similar.

Telebit is giving away free bitcoin to each user, and as a bonus, free bitcoin if to you and your contact if you send some of your first free bitcoin to a contact.

With easy to use commands (viewable here), Telebit is already integrated into the Telegram service, so no additional software or application is needed to be downloaded, nor identification or sign-ups required.

Telebit boasts instant free transfers and the ability to send bitcoin to any of your contacts, which they cannot refuse. They (your contacts) are then able to send the bitcoins forward, or withdraw to their personal wallet of choice.

“You contact Telebit just by searching for it within the telegram app and sending a message to it. The Telebit wallet is controlled by messaging simple commands to Telebit.” ~ Telebit.

Keep in mind that Telebit is for sending small amounts of bitcoin, the bitcoin is ultimately held and centrally controlled by Telebit. Each address can hold a maximum of 0.5 btc, any excess will flow into another bitcoin address you control.

Telebit has only been in existence for a few weeks and already boasts some excellent stats for users. Their total registration now exceeds 5239, active users in the last 15 days is 4352 and their total btc transacted is 29.85904481 (Stats provided by Jonathan Harrison).