Telegram to Launch Custodial Crypto Wallet for Easier Onboarding, But Lacks User Control
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Telegram Wallet uses custody instead of self-custody for easier onboarding of new crypto users.
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Full rollout of Telegram Wallet integration into Telegram app expected in November, starting with some countries.
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Telegram Wallet is a custodial wallet where users don't directly own their coins.
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Custodial wallets like Telegram Wallet are easy to use but less secure than self-custodial wallets.
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Self-custodial wallets like MetaMask give users full control of coins but require managing keys and fees.