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Cryptocurrencies have become popular assets that have improved some qualities over fiat money. This is why they have started to be integrated into plenty of industries, including fundraising activities, as they can bring advantages and help non-profit organizations receive donations more effectively. The first cryptocurrency ever created was Bitcoin, which has become the largest cryptocurrency by market cap because of its benefits to the financial sector.
However, the crypto ecosystem has become huge since then, and new cryptocurrencies emerge almost daily. Toncoin is a good example of this and has an interesting history. Its origins appeared in 2018 for the first time, and since then, it has met some struggles on the way, which delayed its official launch for some time. Toncoin has various use cases, such as making transactions, staking and using it for the apps created on its blockchain. All these use cases can positively impact the Toncoin price, help it grow in popularity, and make Toncoin a good idea for investors to diversify their portfolios.
However, Toncoin can also be used to receive donations, especially on Telegram, because it is strongly connected with this cryptocurrency. In this article, we will learn more about Toncoin, its relationship with Telegram, and how non-profit organizations can accept Toncoin donations.
Toncoin is the native cryptocurrency of TON, or The Open Network, which represents a platform created to support various financial applications. The idea of Toncoin appeared for the first time in 2018, and it was Telegram who was behind developing this project. The Durov brothers, the creators of Telegram, organized a large ICO to fundraise the launch of Toncoin, but their path wasn’t linear, and they met numerous obstacles on the way. After successfully raising $ 1.7 billion in the Initial Coin Offering, the SEC considered this process an unregistered security offering, and because of this, it took legal action against Telegram. This is why Telegram needed to return the money received to investors and put a stop to the launch of this project.
The TON project went live in 2020, and since then, it has become important as an example of cryptocurrency and blockchain. For instance, TON’s blockchain has some attributes that make it stand out from the other crypto projects. TON uses an innovative technology known as multi-level sharding, which makes the blockchain slip into shards. With this, the platform can support high throughputs and doesn’t impact its speed or security.
Telegram is among the most popular messaging apps, as millions of users prefer to send daily messages on it. Besides this, Telegram has also started to be used in the crypto community because it has some attributes that are appealing to them, and they are very similar to those present in the crypto space. For example, Telegram supports an encrypted and secure messaging system. Because of this, Telegram can be the most suitable platform for discussing digital currencies. One crypto with a special place for Telegram is Toncoin, especially because this messaging app was behind the idea of this digital coin. The main goal of Toncoin was to be integrated into the Telegram infrastructure and, in this way, offer users the possibility to receive or send these types of digital coins directly when they use the app.
Toncoin has various use cases, but it can also focus on micropayments. This opened the door to more innovations, including using Toncoin for donations, as individuals worldwide can send money to support various cases. And they can also do this in a very accessible way, as they can send these donations on Telegram. The relationship between Toncoin and Telegram can open the door to more innovations, as the mix of digital currencies with a messaging app can become a norm and not something you can barely see online. In this way, we can be part of something big, and because of the great accessibility that this mix provides, we can also be encouraged to make more good in the world and donate more often.
Telegram is only a messaging app, so it can’t automatically offer a built-in payment gateway for crypto payments. This doesn’t mean you can’t use external platforms and send links to the group on Telegram to gather donations with Toncoin. The option with a payment link may be the most accessible one to consider, as it is easy, and anyone can use it, as you only need to sign up for a crypto payment platform during this step. In the sign-up phase, you need to provide your email and phone number or authorize access via various other apps.
Then, you have to create an invoice on the platform and include Toncoin as the cryptocurrency for which you want to receive crypto payments. In this step, you will also need to set up other fees and prices and then configure other needed settings. From this, it is time to generate a QR code or a payment link, which you can send to the targeted Telegram channel. After receiving this, users can just click on it, and they will be taken to the payment page, where they can make donations. As a non-profit organization, you will have access to the payment platform, where you can view the balances, track donations, and withdraw them as wished.
Cryptocurrencies offer many advantages over fiat currencies, which is why they have taken many industries by storm and have been integrated even for donations. Cryptocurrencies can also help attract more donations, especially because they are so popular and can target more affluent investors who won’t have much of a problem sharing a small part of their crypto funds.
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