Toncoin (TON) is one of the most popular cryptocurrencies to buy right now. It is ranked #13 on CoinMarketCap with a market cap of $17.13 billion and a current Toncoin price of $6.73.
Whether you are new to crypto or just want to add it to your portfolio, learning how to buy Toncoin is the first step. In this guide, we will show you exactly what you need to do to buy Toncoin easily.
Key Takeaways:
- Toncoin is the main cryptocurrency of The Open Network (TON), used for transactions, staking, and governance within its fast, scalable blockchain ecosystem.
- You can buy Toncoin on popular crypto exchanges like Binance or directly in Telegram using its wallet feature, paying with crypto, cards, or bank transfers.
- You can store Toncoin securely in hardware wallets like Ledger or Trezor, or use Telegram’s TON Space for on-the-go access with enhanced blockchain features.
What is Toncoin?
Toncoin is the native cryptocurrency of The Open Network (TON), a decentralized blockchain platform originally developed by the team behind Telegram. It’s designed for fast, low-cost transactions and supports features like decentralized storage, private communications, and seamless integration with Telegram.
TON uses advanced technologies like dynamic sharding and Proof of Stake (PoS) to handle millions of transactions efficiently, making it scalable for billions of users.
Where to Buy Toncoin?
Buy Using Centralized Exchanges
- Binance: Binance is one of the biggest crypto exchanges to buy Toncoin. It has more than 210 million users worldwide. On Binance, you can buy TON using dollars (USD), euros (EUR), or even Bitcoin (BTC). The transaction fees are very low, around 0.1% per trade, which is super cheap.
- Bybit: Bybit is another popular place to get Toncoin. It has millions of users and supports both spot trading (buying/selling coins directly) and futures trading. The platform is simple to understand and gives rewards to new users, like bonus cash for trading. Bybit is secure and allows you to trade Toncoin with other coins like Ethereum (ETH) or USDT (a stablecoin).
- KuCoin: KuCoin is often called “The People’s Exchange” because it supports over 700 cryptocurrencies, including Toncoin. The trading fees here are also super low—only 0.1%. You can even stake your Toncoin on KuCoin to earn rewards, which is great if you plan to hold it for a long time.
Buy Using Decentralized Exchanges (DEXs)
If you want more control over your money, you can use a decentralized exchange (DEX) to buy Toncoin. These platforms don’t need any middlemen. You just connect your crypto wallet like MetaMask or TON Wallet and trade directly. Popular DEXs include Uniswap and SushiSwap.
But here’s the catch: you’ll need to buy another coin first, like Ethereum (ETH), and then swap it for Toncoin. It’s a bit tricky for beginners but gives you full control.
Buy Using Credit or Debit Card
The easiest way for most people is to buy Toncoin with a credit or debit card. Platforms like Binance, Bybit, or KuCoin make it simple:
- Create an account: Sign up and verify your ID (takes 5-10 minutes).
- Add payment method: Link your credit or debit card.
- Buy Toncoin: Enter the amount, confirm the payment, and you’re done.
This method is fast, but the fees can be higher – sometimes up to 3-5% per transaction. This is the best option if you want Toncoin quickly and don’t mind spending a bit more.
How to Buy Toncoin: Step-by-Step Guide
Step 1: Choose a Crypto Exchange
The first step to buying Toncoin is picking the right platform. For this guide, we will show you how to buy Toncoin (TON) on Binance. Binance is one of the most popular platforms for buying cryptocurrencies.
However, you can also use other reputable exchanges like Bybit, KuCoin, or MEXC, all of which support Toncoin. The steps may differ slightly, but the overall process is similar. Let’s proceed with Binance for an easy and secure experience.
Step 2: Create an account and Complete KYC
Before you can buy Toncoin, you need to create an exchange account on Binance. Visit their website or download the mobile app, and click on the “Sign Up” button to begin. You’ll need to provide basic information like your email address or phone number and create a strong password. After submitting this information, Binance will send a verification code to your email or phone to confirm your account.
You can also use our Binance referral code QH6V74V5 to get a $100 USDT sign-up bonus.
Once your account is set up, you’ll need to complete the Know Your Customer (KYC) process. This is a mandatory step to verify your identity and comply with regulations. KYC requires uploading a government-issued ID, such as a passport or driver’s license and sometimes taking a selfie for additional verification. The process is straightforward and usually takes between 5 to 15 minutes, although it may take longer during busy periods.
Step 3: Deposit Funds
After your account is ready, the next step is to fund it. Binance provides several options for depositing money, depending on your region and preferences. If you’re using fiat currency like USD or EUR, you can deposit funds through bank transfer or credit/debit card.
Bank transfers are cheaper but might take 1-3 business days to process, while card payments are instant but may have a fee of up to 3%.
To deposit funds, click on the “Deposit” button and “Buy with USD/INR”, choose your preferred currency, and follow the instructions provided.
For those who already own cryptocurrencies, you can deposit them into your Binance wallet as well. Simply select the crypto you want to transfer, copy the deposit address provided by Binance, and send the funds from your external wallet. Always ensure that you select the correct network to avoid any mistakes that could result in loss of funds.
Step 4: Buy Toncoin (TON) Instantly
Now that you have funds in your Binance account, it’s time to buy Toncoin. Start by navigating to the trading section on the platform. On the Binance homepage, click on “Trade” and choose “Spot” from the dropdown menu. This will take you to the trading interface.
Next, use the search bar at the top of the page to find Toncoin by typing “TON”. You will see several trading pairs like TON/USDT, TON/BTC, or TON/FDUSD. Select the pair that corresponds to the currency in your account. For example, if you deposited USDT (Tether), choose the TON/USDT pair.
After selecting the trading pair, you’ll need to decide how you want to place your order. For most beginners, a Market Order is the easiest option because it allows you to buy Toncoin instantly at the current market price. Simply enter the amount of Toncoin you want to purchase, or specify how much of your balance you want to spend. Then, click on the “Buy TON” button to complete the transaction.
Once the purchase is successful, your Toncoin will appear in your Binance wallet under the “Spot” section. You can now decide whether to keep it on the platform or move it to a more secure storage option.
Step 5: Store TON on a Hardware Wallet
While it’s convenient to leave your Toncoin in your Binance cryptocurrency exchange wallet, storing it in a hardware wallet is a much safer option, especially if you plan to hold it long-term. Hardware wallets, like Ledger or Trezor, keep your crypto offline.
To move your Toncoin to a hardware wallet, start by setting up the wallet according to its instructions. During setup, you will be given a recovery phrase. Write this phrase down and store it in a secure place, as it’s the only way to recover your wallet if it’s lost or damaged.
Once your wallet is ready, find your Toncoin receiving address in the wallet app. Then, go back to Binance and navigate to the “Wallet” section. Select “Withdraw”, choose Toncoin, and paste your hardware wallet address into the recipient field. Double-check the address to ensure it’s correct, as blockchain transactions cannot be reversed.
Click on the “Withdraw” button to initiate the transfer. Binance will send a verification code to your email or phone for security. Enter the code to confirm the transaction. Depending on network congestion, the transfer may take a few minutes to an hour. Once complete, your Toncoin will be safely stored in your hardware wallet.
Final Thoughts
Toncoin is a promising cryptocurrency, especially with its connection to The Open Network (TON) and its integration into Telegram, which has a massive user base.
Buying Toncoin is a simple process once you choose the right platform, whether that’s Binance, KuCoin, or even using Telegram’s wallet. It’s important to secure your Toncoin in a hardware wallet if you plan to hold it for a long time.
FAQs
How to sell Toncoin?
Selling Toncoin is as easy as buying it. Go to the crypto exchange where you hold your Toncoin, like Binance or KuCoin. On Binance, for example:
- Navigate to the “Trade” section and choose “Spot” trading.
- Search for the TON/USDT trading pair.
- Select the amount of Toncoin you want to sell and choose either a Market Order for an instant sale or a Limit Order to set your selling price.
Once the sale is complete, your funds will appear in your wallet. You can withdraw them to a bank account or another wallet in your preferred currency.
How to buy TON in Telegram?
To buy Toncoin (TON) directly in Telegram, you’ll use the TON Space wallet, a feature integrated into the app. This allows you to purchase, store, and manage TON without needing third-party platforms.
To purchase Toncoin, navigate to the wallet interface and select the “Add Crypto” or similar option. You can then choose a purchase method such as using a credit or debit card or making an express purchase. Select Toncoin as the cryptocurrency you wish to buy, specify the amount in your local currency, and proceed to payment. The wallet will process your transaction and credit the TON to your wallet balance.
How to buy Toncoin in the USA?
Buying Toncoin in the USA is simple, as major cryptocurrency exchanges like Coinbase and Crypto.com fully support it. First, you need to create an account on one of these platforms. During registration, you’ll be asked to verify your identity through a process called KYC.
Once your account is verified, you can add funds to it. This can be done using a bank transfer, a debit or credit card, or even another cryptocurrency you already own. After funding your account, navigate to the trading section on the exchange, search for Toncoin (usually listed as “TON”), and buy it by trading against pairs like TON/USDT or TON/BTC.
Read the full article here
Follow us on Google News to get the latest Updates
