The short answer
- 1The usual route: send to a regulated exchange, sell, then withdraw to your bank.
- 2If the exchange shows a memo, it must go with the address or the deposit is lost.
- 3Selling straight to a person risks receiving fraud money; keep records for tax.
In this article
The usual route has three steps
A coin sitting in a Telegram wallet service is not money in your bank account yet. The most common way to turn it into your local currency is through a regulated crypto exchange that operates in your country:
- Send the coin to the exchange. In the exchange, open Deposit, choose the coin and the network, and copy the deposit address it shows.
- Sell it on the exchange for your local currency.
- Withdraw to your bank account. Exchanges normally pay out only to a bank account in the same name as the exchange account.
The first time, send a small test amount and wait until the exchange credits it before sending the rest; see your first receive and send in a TON wallet.
The deposit memo is part of the address
Many exchanges use one shared address for all their TON deposits and tell customers apart by a short memo, also called a comment or tag. If the exchange shows a memo, paste it into the comment field of the transfer together with the address. A deposit sent without it reaches the exchange but not your account, and recovering it depends on the exchange's support, if it is possible at all.
Copy both values; never type them. Check the first and last characters of the address after pasting.
Where it gets stuck, and what to do
| Problem | What to do |
|---|---|
| The exchange does not list the token you hold | Swap it inside the wallet to a coin the exchange does accept, such as Gram (the coin formerly called Toncoin), and send that |
| The exchange accepts the coin on a different network | Send only on the network the exchange names. If the wallet cannot send on that network, do not send |
| The exchange asks you to verify your own wallet | Follow its instructions; many exchanges must record whether a deposit came from a wallet you control |
| The withdrawal to your bank is held | Complete the exchange's identity checks; payouts usually wait until they are done |
Selling directly to a person
Wallet services may also offer a peer-to-peer market where you sell the coin and receive money straight into your bank account from the buyer. It skips the exchange, but the payment comes from a stranger: if that money came from fraud, your account can be frozen or the payment reversed after the coin has gone. Read the P2P market rules before using it.
Keep a record for tax
Note the date, the amount, the transaction ID and the price you sold at for every cash-out. Most countries tax gains on crypto in some form, and the rules change; follow your own tax authority's guidance rather than a general guide. Stars earned by a channel or bot follow a different route; see withdrawing Stars revenue.
Wallet services in Telegram, such as the Wallet bot (@wallet), are run by companies other than Telegram, and their fees, limits and supported networks are set in their own terms. A transfer on the blockchain cannot be reversed, and this guide is not investment advice.
FAQ
How do I turn coin in a Telegram wallet into money?
Send it to a regulated exchange in your country, sell it there for local currency, and withdraw to your bank account.
What happens if I forget the deposit memo?
The coin reaches the exchange but not your account. Recovering it depends on the exchange's support.
Do I have to pay tax when I cash out?
Most countries tax crypto gains in some form. Follow your own tax authority's guidance and keep a record of each sale.
Sources
At a glance
- 1Route
Exchange deposit, sell, withdraw to an account in your name.
- 2Memo
Paste the address and the memo; send a small test first.
- 3Records
Date, amount, transaction ID and sale price for your tax authority.
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