Chatex – crypto exchange in your pocket

by Michael Kabanov

Chatex is one of the first partners of Free TON. It is a well-known Telegram bot which helps to buy and sell different crypto tokens including TON (TON_Crystal in the bot). Founder Vladislav Bulochnikov and marketing director Alexander Khvoinitskiy spoke with Free TON community members in an AMA (ask me anything) session. And here is what we were able to learn.

Chatex is built with module structure, two of them are already working – multi-currency crypto-wallet and P2P exchange. Multi-currency wallet stores token of different blockchains and P2P helps to buy/sell and exchange tokens user-to-user. Thus, you can change your TON_Crystal to any token which is supported by the bot.

Free TON is a multi-blockchain and any member of the community can create his own token. Open-source structure also lets developers to launch forks of the blockchain. And Chatex is planning to support all custom tokens too.

The security and privacy is a lot on the shoulders of the bot developers but users should be also using the service with caution. Chatex team strongly recommends to turn on two-factor authentication in Telegram and set a password. Touch ID and Face ID should be also used if you operate the bot on mobile devices.

From the side of Chatex pin-code is required to confirm exchange and sending token, while to multi-wallets and seed-phrases are kept in the custodial vault – BitGo. Bot informs the user about his deals and rating, shows the balance of crypto and fiat basing on data from Binanace. But in any case, the last mile of security is in the hands of the user.

There are also two nice and useful features in the bot: vouchers and the transfer of tokens using mobile or bot username between the users. Vouchers can be sent to any user of Telegram even if he is not registered in the bot. Another feature is on the way – invoicing. It’s a B2B solution that includes the mechanism of creating an invoice for goods or services, merchant account to receive payments, mass money sending and a lot more. Example: a company can send micro-transfers easily and free of charge and the end users can exchange crypto into their local fiat money.

Chatex has many plans for developing their service and the partnership will be useful for Free TON and lead to mass adoption. Hurray!

The whole version of the AMA-session is available here.

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