ParJar Cryptocurrency Tips Cross 512,000 on Telegram with 21,000 Users in a Year’s Time

In a tweet made on Sunday, November 10, crypto firm focused on facilitating cryptocurrencies around the world, Parachute announced a new milestone. According to the claims made, it's ParJar Telegram officially crossed half a million (i.e. 512,000) tips with 21,000 people using the app to send crypto to friends and family.

And the tips keep on rolling! ParJar just crossed half a million tips!!! 21,000 people in over 500 communities use ParJar to share crypto with friends. BOOM #cryptoforeveryone #bitcoin #eth #crypto pic.twitter.com/4ESVUX2kkC

— Parachute (ParJar) (@parachutetoken) November 10, 2019

Having started with the ParJar Telegram, a social wallet in which users can instantly send cryptocurrencies to whomever over group chats, the team plans to unveil a series of products from a wallet for multi-platform uses, and a native app. Room for growth is deemed possible because of the social wallet’s main token, PAR.

PAR can be used either as gas for withdrawals or it can be used to generate the essential QR Code that successfully completes transactions. Most of all, it is a token that rewards content creators, individuals and merchants for their effort.

While one might argue that 21,000 isn’t such a big deal, the fact that 512,000 tips were sent within a span of a year is indicative of how far cryptocurrencies have come and its overall integration within society.

As for what’s to come for 2020, the Parachute official website mentions the team’s plan of releasing a merchant API. This service is intended to facilitate easier crypto acceptance for merchants, while slashing the fees for them by 50%.