KYC (short for Know Your Customer) is a process for identifying customers and verifying their personal data. It is used by banks and other financial institutions, including cryptocurrency exchanges. Its goal is to limit opportunities for money laundering, terrorist financing and more. Although it sounds logical and maybe even necessary, it also has its drawbacks. In addition to the obvious, such as anonymity and decentralization, which are among the best features of Bitcoin, it may include some limitations, such as geographical restrictions for example. Some countries have restrictions on the use of cryptocurrencies, and by confirming your identity, you open the door wide to various restrictions, which is in stark contrast to the concept of Bitcoin - to be free and accessible to everyone.
TGmembership offers you the opportunity to accept Bitcoin payments to your own wallet without identification and verification procedures, which are mandatory in almost all cryptocurrency exchanges. Without KYC checks, you can accept Bitcoin payments from your customers anonymously anywhere in the world, at the address of your choice. The service is freely available for all bots, regardless of the chosen plan. The amount that customers transfer will be transferred to your wallet as soon as it is confirmed on the blockchain. Up to 1% commission and transaction fee can be deducted from it when sending to your wallet.
Install Bitcoin in your Telegram bot
Open the /settings menu, select "Payment Methods" and then "Bitcoin".
The bot will ask you for the address of the Bitcoin wallet, where the funds received from customers will be transferred. If you do not have a Bitcoin wallet, you can use Electrum (Desktop & Mobile), Wallet of Satoshi (Mobile), etc. Another option is the Bitcoin address that cryptocurrency exchanges provide when depositing, if you use one. Almost all major exchanges provide such addresses.
Confirm your address
To avoid mistakes, the bot will ask you to re-enter the address you entered in the previous step.
Wait for the installation to complete
After confirming that you want to use the service, TGmembership will begin the installation process. Please wait, this process may take a few seconds, up to a minute.
The installation is complete
The bot will send a notification when the installation of Bitcoin payment method is completed.
By clicking on the return button, you will open the menu with payment methods from the first step. Unlike then, a green check mark should now appear to the right of Bitcoin, indicating that the method is installed and ready to use.
You are ready. When your customers want to pay, they will see Bitcoin as a payment option, along with all other payment methods (if any). By choosing to pay with Bitcoin, TGmembership will create a unique address to send the funds - a new address is created for each order. The amount to be sent by the customer is calculated automatically - the bot converts the price of the plan chosen by the customer using the Bitcoin exchange rate in Binance.