Setting Up Crypto Payments in Telegram in 2022

Setting up crypto payments in Telegram

Beyond blockchain's unprecedented potential, crypto coins and tokens have become a very valuable asset for big institutions and individuals around the world.

Today, paying with crypto online sounds natural and is becoming more common on e-commerce sites across the internet. But did you know you can receive crypto payments in Telegram too?

Yes, receiving crypto in Telegram is possible. Plus, it is easy if you're using the right integration. You can even create your own integration for exchanging crypto in Telegram by setting up a  smart contract each time, or writing the proper scripts to do so.

However, there's an easier and more efficient way for accepting crypto payments in Telegram, and that's with InviteMember's CoinPayments-Telegram integration.

What are CoinPayments?

CoinPayments is a multi-currency wallet that can work as a cryptocurrency payment gateway API for online businesses. It is the Stripe or PayPal equivalent for cryptos instead of fiat currencies.

CoinPayments provides a digital point of sale for crypto payments that works seamlessly with more than 2,290 supported coins. Because it is also a crypto wallet, you can store the different currencies you use, safely and in the same place.

Thanks to CoinPayment's cryptocurrency payment gateway API, InviteMember was able to develop a crypto Telegram integration that allows any user to receive crypto payments in Telegram. And using it is much easier than you might think!

Is it safe to accept crypto payments in Telegram?

Some of the many cryptocurrency perks are security and confidentiality, hence the prefix -crypto-. CoinPayments contribute to protecting multi-wallet crypto transactions by providing a trusted environment for sellers and buyers alike.

InviteMember's CoinPayments-Telegram integration ties the whole process for accepting crypto payments in Telegram very efficiently. When you've enabled CoinPayments as a payment option in your InviteMember subscription project, your customers just have to choose one of the available coins you previously selected, send the funds to a CoinPayments address, and almost immediately CoinPayments will forward it to you.

There's not a single moment during which Telegram or InviteMember would handle your money, and the entire transfer process will occur in the safe space of your cryptocurrency network. Also, your crypto wallet address is never revealed to your clients.

The first thing you'll have to do is create a membership project in the InviteMember bot. Once your project has been created, you need to enable CoinPayments as a payment option. To do this, just follow the below steps:

  1. Go to your project menu in the InviteMember bot.
  2. Select "Payment options"
  3. Hit the "CoinPayments" button

If you don't have a CoinPayments account yet, you can select the first button sent by the bot, "Create account" and you'll be taken to CoinPayments' website. There, just hit the "Sign Up" button and continue the onboarding process.

After registering on the CoinPayments website and verifying your account, you'll need to generate the API keys so the InviteMember bot can connect to your account. Don't worry, you will do this just once.

Open the API Keys page in the CoinPayments dashboard and click the "Generate new key button":

Once you've created your keys, you'll have to set the permissions for optimizing the API security. Just click "Edit permissions" for the new key and set the following checkboxes only:

  • Create transaction: To create new incoming addresses to accept payments.
  • Rates: To get the list of available coins

After creating the API keys and setting the proper permissions, you'll be ready to connect your CoinPayments account to Telegram. All you have to do is to copy and paste the Public and Private Keys together as shown below:

After the bot has received and processed the keys, make sure to delete the message with them so no one will be able to see them in your chat history.

Finally, you'll have to set an IPN secret. The IPN Secret is required to receive updates about CoinPayments transaction status. To set it, simply follow these steps:

  1. Open the Account Settings page in the CoinPayments Dashboard.
  2. Go to the Merchant Settings tab.
  3. Enter a good, unpredictable, and random alphanumeric string that nobody can guess:

4. Now return to the InviteMember Bot in Telegram, select the "Set IPN secret" button and enter the same IPN secret:

Once more, remember to delete the message containing the IPN secret from your chat history after the bot has processed it.

Which coins can I accept in Telegram?

Bitcoin, Ether, Cardano, Dogecoin, Safemoon… you choose! CoinPayments has more than 2,000 cryptocurrencies to choose from, and the list just keeps growing. Selecting the coins you want to accept for your crypto payments in Telegram is as easy as checking a list.

To choose which coins to accept, go to the Coin Settings page at the CoinPayments Dashboard. Then select the coins you want and hit the Accept button at the bottom of the page. After doing this, go to the InviteMember Bot in Telegram and hit the "Refresh" button:

You'll see the selected coins in the bot's message. We suggest selecting no more than 20 coins per project to avoid delays between Telegram and CoinPayments.

Great! Now you can accept crypto payments in Telegram. If you want to check how it looks from the customer's end, you can attempt a payment with crypto in our Demo Bot:

Conclusion

Now you know the easiest and best Crypto-Telegram integration out there. If you are looking for a way to safely and efficiently accept crypto payments in Telegram, you've found it! With InviteMember it takes no more than 5 minutes to start a subscription-based project for your membership business, and best of all, it's free to start and you can upgrade as you grow!