Is it safe to store coins in the telegram wallet?

[EluguHcman]

I have not used the telegram wallets before but I think some unlaunched coins that has not been endorsed by those population wallets usually requires some specific wallets to store the coins in a main time until it is launched before you can transfer or exchange your coins to a desired wallet or network.

But if the meme or whatever mining coins allows miners to store their coins in a personal wallet then I don't think using the telegram wallets would be advisable because privacies are more safe when it is on decentralized modelitty. Atleast considering that telegram is a social network has this limited Privacies that Privacies can be possible to compromise.

[robelneo]

But I'd like to hear your thoughts on any possible solutions to this issue and whether it's safe for us to store our coins in the Telegram wallet.

I would not trust it, its a custodial wallet, We are taught to only trust non custodial wallet if we are going to store our coins, if its the only wallet to use to claim my airdrop then I'll go for it but its not something that I will use to store my coins custodial wallets are not made for storing.

The Telegram Wallet serves as a custodial wallet within the Telegram app, allowing users to send, receive, and store cryptocurrencies. In this model, the management of private keys is handled by a third party, simplifying the user experience.

https://www.gncrypto.news/news/telegram-wallet-an-ultimate-guide-to-using-the-ton-crypto-wallet/

[UNIVERSE]

Indeed, high risk and dangerous for our assets.
Moreover, with the ease of making transfers on the platform, this can open up opportunities for scammers and hackers to steal our assets.

Yes. It is too risky, we are better to choose safer wallets. You're right, it will make the scammers to steal our coins easier. I personally will never consider to keep my coins there. I think non custodial wallets should be the first option. There are too many type of wallets nowadays, we don't need to try all of them.

Indeed, telegram may have or offer some advanced features to store assets and act as a wallet, but its security level is still questionable. And indeed it is also a custodial crypto wallet, so the team has access keys.

I also think about this, how secure to keep coins in Telegram wallets. Basically, it is not a specific place for holding coins, honestly it looks very doubtful to store coins there. I still prefer to send coins on CEX wallets than to send coins on Telegram wallets. But everyone must agree that private wallets is the best option (non-custodial wallets).

[Makus]

But I'd like to hear your thoughts on any possible solutions to this issue and whether it's safe for us to store our coins in the Telegram wallet.

I would not trust it, its a custodial wallet, We are taught to only trust non custodial wallet if we are going to store our coins, if its the only wallet to use to claim my airdrop then I'll go for it but its not something that I will use to store my coins custodial wallets are not made for storing.

The Telegram Wallet serves as a custodial wallet within the Telegram app, allowing users to send, receive, and store cryptocurrencies. In this model, the management of private keys is handled by a third party, simplifying the user experience.

https://www.gncrypto.news/news/telegram-wallet-an-ultimate-guide-to-using-the-ton-crypto-wallet/

Like I always say, provided it wasn't created at first for the purpose of wallet, but rather a social platform then I don't have any business with it. Because I'm not guaranteed if my coins are going to to be lucked if my number get banned from telegram. Just as you said, the only reason I can give it a try is if it's the only wallet I can use to receive my coins at that moment else I have no dealing with a custodial wallet. There are several non custodial wallet out there with are much safer, and reputable.

[Aanuoluwatofunmi]

I will not suggest or support leaving your main crypto assets on telegram app for storage, this is just a social media platform in which they created an avenue for their users to effectively utilizes the opportunity of having a crypto wallet for a minor transaction or in which they may have to claim the reward through the telegram app, we should know that the best to use in terms of wallet is bitcoincore or any non custodial wallet like the cold storages.

[Gurujebs]

I will not suggest or support leaving your main crypto assets on telegram app for storage, this is just a social media platform in which they created an avenue for their users to effectively utilizes the opportunity of having a crypto wallet for a minor transaction or in which they may have to claim the reward through the telegram app, we should know that the best to use in terms of wallet is bitcoincore or any non custodial wallet like the cold storages.

I used telegram wallet but I don't used their default seed phrase. What I do is that I have a seed phrase created from Tonkeeper and then I import the seed phrase to Telegram wallet to interact with some web3 app on telegram, that way if telegram block or restrict my account. I don't have to worry about them and their app because a lot of people complain about telegram blocking their accounts without been able to access the wallet.

If not for their web3 games, what am I going to do with telegram wallets, the wallet looks too dull and not even that secure with their design and I don't know why they haven't implement options for hardware connection, maybe there will be in the future.

[JoyMarsha]

I don't in any way call Telegram a secure wallet address to have for storing crypto coins, apart from mined tokens that were given out of the tapping of the phone screen.

How the telegram wallet came into full existence because of the mining of coins through telegram. Telegram owners now develop provisions for having wallets in it for easy transfer and conversion of the mined tokens, without giving much relevance to it to secure people's tokens. However, newbies then began to use it because that was what they were introduced to, to use the telegram wallet for the storage of their mined coins on the Ton network.

Lack of not having full knowledge of how to secure a crypto wallet made your friend lose his coins in his telegram wallet. Had he known how insecure a telegram wallet is, he would have learned not to release his phone to anyone to go through because of his stored crypto assets

[Hridoy7788]

I've had a similar experience with crypto wallets, and I wouldn’t trust Telegram wallets for storing your coins. If your friend's account got hacked and he lost access, it sounds like a major security flaw. I’d recommend using hardware wallets or well-known software wallets with good security practices instead. From what I’ve seen, these are much more reliable and secure for keeping your assets safe.

[albon]

I think the only tool for safe crypto currency storage is hardware wallet. Where you can store your crypto for years and years. Recently telegram wallet has got a lot of hype and the only reason for that is telegram airdrops mining. So telegram should not be used directly as a wallet but you can use it only for airdrop payment if you want. We never want our assets to be at high risk, which could also open up opportunities for scammers and hackers to steal our assets. Telegram wallet has only been launched for a few days so the security level is still questionable. For now try to keep this topic inside your question and use the old best wallet.

[TryNinja]

But I'd like to hear your thoughts on any possible solutions to this issue and whether it's safe for us to store our coins in the Telegram wallet.

I would not trust it, its a custodial wallet, We are taught to only trust non custodial wallet if we are going to store our coins, if its the only wallet to use to claim my airdrop then I'll go for it but its not something that I will use to store my coins custodial wallets are not made for storing.

FYI, the Telegram wallet has a type of wallet called "TON Space" which gives you a wallet seed, so I don't think that one is custodial. Only if you use the "Earn wallet", which gives you an APR, is that your coins are being held with a third party. Also, you need to do full KYC to earn the annual rate on your coins, so that should be an obvious one.

[Sim_card]

But I'd like to hear your thoughts on any possible solutions to this issue and whether it's safe for us to store our coins in the Telegram wallet.

I would not trust it, its a custodial wallet, We are taught to only trust non custodial wallet if we are going to store our coins, if its the only wallet to use to claim my airdrop then I'll go for it but its not something that I will use to store my coins custodial wallets are not made for storing.

FYI, the Telegram wallet has a type of wallet called "TON Space" which gives you a wallet seed, so I don't think that one is custodial . Only if you use the "Earn wallet", which gives you an APR, is that your coins are being held with a third party. Also, you need to do full KYC to earn the annual rate on your coins, so that should be an obvious one.

Are you saying thay because the wallet gives seed phrase means it is a noncustodial wallet and is safe to keep your coins in it. I have seen wallets that gives seed phrase that are closed source wallet like Trust wallet. Or am I getting something wrong. Bitget so have a wallet which they give your seed phrase too.

[Rikafip]

Are you saying thay because the wallet gives seed phrase means it is a noncustodial wallet and is safe to keep your coins in it.

If you get your own seed phrase, that means wallet is non custodial and you are in control of your money. Having said that, just because a wallet is non custodial doesn't mean that is safe and good for a safe long storage of your coins.

I have seen wallets that gives seed phrase that are closed source wallet like Trust wallet. Or am I getting something wrong.

Wallets can be both non custodial and closed source. One does not exclude the other.

[Themepen]

I used telegram wallet but I don't used their default seed phrase. What I do is that I have a seed phrase created from Tonkeeper and then I import the seed phrase to Telegram wallet to interact with some web3 app on telegram, that way if telegram block or restrict my account. I don't have to worry about them and their app because a lot of people complain about telegram blocking their accounts without been able to access the wallet.

If not for their web3 games, what am I going to do with telegram wallets, the wallet looks too dull and not even that secure with their design and I don't know why they haven't implement options for hardware connection, maybe there will be in the future.

Hmmm... I think it is good idea to use seed phrase from different wallet like Tonkeeper and add it to Telegram Wallet. This way you are in control of your money and do not have to worry if Telegram blocks your account. But there is one point that you can export seed phrase from Telegram wallet too. But I am also worried about how secure Telegram Wallet is. It does not have way to connect to hardware wallet which is big problem. Wallet design is not very good and does not look secure compared to other options.

Telegram is mostly useful for its web3 games and apps but if anyone want to keep his/her cryptocurrency safe it is better to use different wallet that prioritizes security and control. Until Telegram fixes these problems and adds better features using a third party seed phrase and looking into other wallets is good idea.

[kulkhan]

I think telegram wallet is safe and we can more safe it by verification and we can use 2fa. We know internet base any wallet and other important documents are not fully safe but we can take care on it and we can try to safe it.

I am using telegram wallet it has been near about one years but any kinds of risk i could not feel. And i hold huge money on it but still now it safe and comfortable. I my thinking telegram wallet is safe.

[Z-tight]

Are you saying thay because the wallet gives seed phrase means it is a noncustodial wallet and is safe to keep your coins in it. I have seen wallets that gives seed phrase that are closed source wallet like Trust wallet. Or am I getting something wrong. Bitget so have a wallet which they give your seed phrase too.

Any wallet that gives you a seed phrase is a self custodial wallet, however, that is not the only criteria to know a recommended wallet. A recommended wallet should be open source, self custodial and well reviewed, like Electrum and BlueWallet. Wallets like Atomic wallet and trust wallet are both self custodial wallets, but they are not recommended because they are closed source.