Telegram is becoming an increasingly popular channel for business: it is not only a messenger, but also a functional tool used worldwide. In July 2023, the app was downloaded more than 34.8 million times. Among the countries where Telegram is most actively used are India, Russia, the United States, Brazil, France, and Germany.
One of the important areas where Telegram is used is cryptocurrency and crypto payments. Businesses use this platform to provide customers with the ability to pay quickly and securely. In this article, we'll look at what the benefits of the platform are, how to accept payments on Telegram, and how to automate the processing of crypto transactions.
Cryptocurrency Payments: What It Is
Cryptocurrency payments are transactions that use digital currency instead of fiat money. All operations are processed through blockchain technology and recorded in a decentralized ledger.
Among the important features of the technology are anonymity, transparency and the inability to alter a payment once it has been processed. This eliminates chargebacks and provides high protection against fraud, as well as preventing the leakage of personal and payment data.
In addition, decentralization ensures independence from banks and payment systems. The absence of intermediaries means high speed of payment processing, including cross-border payments, and minimal fees.
More and more companies connect cryptocurrency payment acceptance: bitcoins and other digital money can be used to pay for almost any goods. This is especially relevant in the context of sanctions restrictions.
To automate the payment process and simplify payment management, special platforms are used. This makes crypto-payments as convenient a payment method as more traditional options.
Accepting Crypto Payments via Telegram: Advantages
Entrepreneurs use Telegram as a platform for business and accepting payments for a number of reasons:
- Popularity. The platform has more than 800 million monthly active users, and the average daily audience is more than 54.3 million. At the same time, about 70% of users not only use Telegram as a messenger, but also read feeds there. This opens up an opportunity for businesses to expand their customer base.
- Integration with many cryptocurrency payment gateways. This provides a convenient connection and simplifies the processing of crypto transactions.
- No additional commissions. When paying via Telegram, the messenger is not an intermediary in the transaction, but only provides the business and the client with a platform for interaction.
- Privacy and security. After WhatsApp privacy policy changes, the number of Telegram downloads exceeded 95 million in a month: users chose a platform that ensures their privacy.
- Increased conversion rate. Accepting payments in Telegram makes it possible to work and make transactions within the platform without switching to third-party services. The minimum number of actions during payment helps to increase conversion rates.
Major Methods of Accepting Cryptocurrency Payments via Telegram
There are three main ways to organize cryptocurrency payment acceptance in Telegram: connecting a payment system via API, publishing a permanent link and manual invoicing. Let's take a closer look at each of the invoicing options using CryptoCloud crypto processing as an example.
Structured API
CryptoCloud API is a universal customizable tool, which is suitable for working both through the website and in Telegram via a bot accepting payments.
Let's see how the integration with the bot and payment via API takes place:
- Adding a project in your personal account. This allows you to get the authorization token needed to perform the request.
- Creating an invoice. Your bot can create an invoice for payment by sending a POST request to the endpoint specified in the documentation.
- Checking the status of the invoice. The bot can check the status of the invoice by sending a GET request to the endpoint.
The merchant is then sent transaction information (postback) to the notification URL specified in the project settings. Upon receiving a POST request from CryptoCloud, your bot can process the payment information, for example, automatically update the order status in your system.
Permanent link
An easier way to connect payment in Telegram is to generate a permanent payment link. You can do this in the project settings. It is placed in the company channel (for example, in the attached messages) and/or in the Telegram payment bot. For the convenience of users, it can be converted into a QR code.
When clicking on this link, the client can enter the required amount in dollars, after which an invoice will be automatically created and redirected to the payment page. Notifications about the made payment are received to the merchant's e-mail or Telegram.
Manual payment links
Manual invoices can also be used to accept payments in Telegram. Their functionality is similar to a permanent payment link, but the invoice is generated manually by the merchant individually for each transaction. To do this, you need to create an invoice on the project page and specify the amount in the desired currency. After that, a link is generated that can be sent to the client. The status of the invoice is tracked in the personal account.
The payment link for a manual invoice is valid for a limited period of time (up to 24 hours). For this time, the exchange rate is fixed, which protects both sides of the transaction from the volatility of the cryptocurrency.
You can learn more about creating a payment link in the instructions.
Accepting Payments in Telegram with CryptoCloud
CryptoCloud is a payment gateway that can be used both for a company's website and for cryptocurrency payments in Telegram. The service handles major currencies and stablecoins, including Bitcoin, Ethereum, Litecoin, Tether and others.
Connecting CryptoCloud to the Telegram bot for cryptocurrency payments is free and takes just a few minutes. No multi-stage verification is required to get started: you only need to register using your e-mail address and create a project for your company.
The service fee for processing transactions is from 0.4%, withdrawal of funds is carried out within a couple of minutes.
The page of the invoice, which is generated by the client or the merchant, has a convenient multi-lingual interface. In the project settings, you can upload a company logo, which will be displayed when opening a payment page.
Cryptocurrency Payment in Telegram: Convenient, Modern, Safe
Telegram is a convenient platform not only for communication, but also for business. Many entrepreneurs use it both as an additional promotion channel and for full-fledged work: from product advertising to customer payment. One way to accept payments in Telegram is to use a cryptocurrency payment system.
CryptoCloud is a crypto acquiring service for accepting payments, the functionality of which includes integration into a payment bot, formation of permanent payment links, and individual invoicing. You can learn more about the service features on our website and FAQ.
