Toncoin (TON) is one of the most popular cryptocurrencies to purchase right now. It is ranked 13th on CoinMarketCap, has a market capitalization of $17.13 billion, and the current Toncoin price is $6.73.
Whether you're new to cryptocurrencies or simply want to add them to your portfolio, learning how to buy Toncoin is your first step. This guide will explain exactly what you need to do to easily buy Toncoin.
Important points:
Toncoin is the primary cryptocurrency of The Open Network (TON), used for transactions, staking, and governance within its fast and scalable blockchain ecosystem. Toncoin can be purchased on popular cryptocurrency exchanges such as Binance, or directly on Telegram using the wallet feature. Toncoin can be safely stored in hardware wallets like Ledger and Trezor, or using TON Space on Telegram. On-the-go access with enhanced blockchain capabilities.
What is Toncoin?
Toncoin is the native cryptocurrency of Open Network (TON), a decentralized blockchain platform originally developed by the team at Telegram. It is designed for fast and low-cost transactions and supports features such as decentralized storage, private communications, and seamless integration with Telegram.
TON uses advanced technologies such as dynamic sharding and Proof of Stake (PoS) to efficiently process millions of transactions and make it scalable to billions of users.
Where can I buy Toncoin?
Buy using a centralized exchange
Binance: Binance is one of the largest crypto exchanges to buy Toncoin. It has over 210 million users worldwide. On Binance, you can buy TON using dollars (USD), euros (EUR), and even Bitcoin (BTC). Transaction fees are very low, around 0.1% per trade, making it very cheap. Bybit: Bybit is another popular place to get Toncoin. It has millions of users and supports both spot trading (direct buying and selling of coins) and futures trading. The platform is easy to understand and new users are rewarded with bonus cash and other rewards for their trades. Bybit is secure and allows you to trade Toncoin with other coins such as Ethereum (ETH) and USDT (stablecoin). KuCoin: KuCoin is often referred to as the “People’s Exchange” as it supports over 700 cryptocurrencies, including Toncoin. Trading fees here are also very low, at just 0.1%. You can also stake Toncoin against KuCoin and earn rewards. This is perfect if you plan on holding it for a long time.
Purchase using a decentralized exchange (DEX)
If you want more control over your money, you can easily purchase Toncoin at a decentralized exchange (DEX). These platforms require no middlemen. Simply connect to your cryptocurrency wallet like MetaMask or TON Wallet and trade directly. Popular DEXs include Uniswap and SushiSwap.
However, there is a catch here. You need to first buy another coin, such as Ethereum (ETH), and then exchange it to Toncoin. It's a little difficult for beginners, but you have full control.
Purchase using a credit or debit card
The easiest way for most people is to purchase Toncoin with a credit or debit card. Platforms like Binance, Bybit, and KuCoin make it easy to:
Create an account: Sign up and verify your ID (takes 5-10 minutes). Add a payment method: Link your credit or debit card. Purchase Toncoin: Enter the amount, confirm the payment, and you're done.
Although this method is fast, it can come with higher fees, which can be up to 3-5% per transaction. If you need Toncoin quickly and don't mind spending a little more, this is your best option.
How to buy Toncoin: Step-by-step guide
Step 1: Choose a cryptocurrency exchange
The first step to purchasing Toncoin is choosing the right platform. This guide will show you how to buy Toncoin (TON) on Binance. Binance is one of the most popular platforms for purchasing cryptocurrencies.
However, you can also use other reputable exchanges that support Toncoin, such as Bybit, KuCoin, and MEXC. The steps may vary slightly, but the overall process is similar. Proceed with Binance for an easy and secure experience.
Step 2: Create an account and complete KYC
Before purchasing Toncoin, you need to create an exchange account on Binance. Visit the website or download the mobile app and click the “Sign Up” button to get started. You'll need to enter basic information, such as your email address and phone number, and create a strong password. Once you submit this information, Binance will send you a verification code to your email or phone to verify your account.
You can also use Binance referral code QH6V74V5 to get a $100 USDT sign-up bonus.
Once you set up your account, you'll need to complete a Know Your Customer (KYC) process. This is a required step to verify your identity and comply with regulations. KYC requires you to upload a government-issued ID, such as a passport or driver's license, and may also require you to take a selfie for additional verification. This process is simple and typically takes 5 to 15 minutes, but may take longer during busy periods.
Step 3: Deposit funds
Once your account is ready, the next step is to deposit funds. Binance offers several deposit methods depending on your location and preferences. If you are using a fiat currency such as USD or EUR, you can deposit funds via bank transfer or credit/debit card.
Bank transfers are cheaper but may take 1-3 business days to process. Card payments are instant but may be subject to a processing fee of up to 3%.
To deposit funds, click the “Deposit” button, click “Buy USD/INR”, select your preferred currency and follow the instructions provided.
If you already own cryptocurrency, you can also deposit it into your Binance wallet. Simply select the cryptos you want to transfer, copy the deposit address provided by Binance, and send funds from your external wallet. Always make sure you choose the right network to avoid mistakes that can lead to loss of funds.
Step 4: Buy Toncoin (TON) now
Now that you have funds in your Binance account, it's time to buy Toncoin. First, go to the trading section of the platform. On the Binance homepage, click “Trade” and select “Spot” from the drop-down menu. This will take you to the trading interface.
Next, use the search bar at the top of the page and type in “TON” to find Toncoin. You will see several trading pairs such as TON/USDT, TON/BTC, TON/FDUSD. Select the pair that corresponds to your account currency. For example, if you deposited USDT (Tether), select the TON/USDT pair.
After choosing a trading pair, you need to decide how to place your order. For most beginners, a market order is the easiest option as it allows you to buy Toncoin instantly at the current market price. Simply enter the amount of Toncoin you wish to purchase or specify the amount of your balance you wish to use. Then click on the “Buy TON” button to complete the transaction.
After a successful purchase, your Toncoin will appear in the “Spot” section of your Binance wallet. You can now decide whether to keep it on the platform or move it to a more secure storage option.
Step 5: Store TON in your 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 on holding it for the long term. Hardware wallets like Ledger and Trezor keep your cryptocurrencies offline.
To move Toncoin to a hardware wallet, start by setting up your wallet by following the instructions. During setup, you will be given a recovery phrase. Write down this phrase and keep it in a safe place. This is the only way to recover your wallet if it is lost or damaged.
Once your wallet is ready, find your Toncoin receiving address in your wallet app. Next, go back to Binance and go to the “Wallets” section. Select “Withdraw”, select Toncoin and paste the hardware wallet address into the recipient field. Blockchain transactions are irreversible, so double check that your address is correct.
Click the “Withdraw” button to start 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 completed, your Toncoin will be safely stored in your hardware wallet.
final thoughts
Toncoin is a promising cryptocurrency, especially due to its connection to The Open Network (TON) and its integration into Telegram, which has a large user base.
Purchasing Toncoin is an easy process if you choose the right platform, whether you use Binance, KuCoin, or Telegram wallets. If you plan to hold your Toncoin for a long time, it is important to store it safely in a hardware wallet.
FAQ
How can I sell Toncoin?
Selling Toncoin is just as easy as buying. Go to the cryptocurrency exchange that holds Toncoin, such as Binance or KuCoin. On Binance, for example:
Go to the “Trades” section and select the “Spot” trade. Search for TON/USDT trading pair. Select the amount of Toncoin you want to sell and choose either a market order to sell immediately or a limit order to set a sell. price.
Once the sale is complete, the funds will appear in your wallet. You can withdraw it to your bank account or another wallet in your desired currency.
How can I buy TON on Telegram?
To buy Toncoin (TON) directly on Telegram, use the TON Space wallet, a feature integrated into the app. This allows you to buy, store, and manage TON without the need for a third-party platform.
To purchase Toncoin, go to your wallet interface and select “Add Crypto” or similar option. You can then choose how to purchase, such as using a credit or debit card or using Express Buy. Select Toncoin as the cryptocurrency you want to purchase, specify the amount in your local currency and proceed to payment. The wallet will process the transaction and deposit TON to your wallet balance.
How do I buy Toncoin in the US?
Buying Toncoin in the USA is easy as it's fully supported by major cryptocurrency exchanges such as Coinbase and Crypto.com. First, you need to create an account on one of these platforms. During registration, you will be asked to verify your identity through a process called KYC.
Once your account is verified, you will be able to add funds. This can be done using a bank transfer, debit or credit card, or another cryptocurrency you already own. After funding your account, go to the exchange's trading section, search for Toncoin (usually displayed as “TON”), and trade and buy pairs such as TON/USDT or TON/BTC .
