Toncoin: Where Can I Buy Toncoin in 2024?

If you are looking to buy Toncoin (TON), the native cryptocurrency of “The Open Network”, the present blog post assists you in the process. Before learning the platforms where you can buy Toncoin, you need to learn the multiple ways of buying it. Here, we cover everything from the ways of buying TON to the platforms that support buying TON in detail.

Let us first go through the Toncoin in brief in case you are new to this cryptocurrency, before walking you through various platforms to buy Toncoins in 2024.

Toncoin Overview

Toncoin or TON is the cryptocurrency of layer1 blockchain called “The Open Network”. Similar to multiple other blockchains, Toncoin works based on the Proof-of-Stake (PoS) consensus mechanism to save resources.

The blockchain network underlying the Toncoin was originally developed by Telegram social media platform in 2018. “Telegram Open Network” was the initial name of the blockchain and “Gram” cryptocurrency was supposed to be the native crypto of it.

However, the developer team from Telegram abandoned the project when it faced trouble from the US Securities and Exchange Commission. The SEC considered Gram tokens securities, which eventually caused the token to stop circulating in the market.

Even though the Telegram team gave the network a full-fledged form, they left the project and handed it over to supporters and independent crypto enthusiasts. The new group of people formed the TON Foundation, which currently runs the Toncoin project.

“The Open Network” is a best-suitable platform for developing decentralized applications (dApps) and for making digital transactions at high speeds. The less-energy consuming nature of its PoS mechanism combined with its high performance capabilities make The Open Network one of the noteworthy projects in the industry.

Where Can I Buy Toncoin?

When it comes to buying Toncoins, there are numerous platforms. Here, we will discuss all of them to help you find the platform that is convenient for you.

Centralized Exchanges

Centralized crypto exchanges (CEXs) are the best places to get started with buying any cryptocurrencies. They offer simple-to-use interfaces and lowest possible fees and play a great role in introducing cryptocurrencies to new audiences. If you are also new to the crypto space, then centralized exchanges are the right choice for you to buy Toncoins.

Popular crypto exchange platforms such as OKX, KuCoin, and Bybit allow you to buy and sell Toncoins. You can choose either of the platforms and create an account to start buying Toncoins. MEXC Global, Huobi, BitMart, LBANK, BingX are few other centralized crypto exchanges that also help you interact with Toncoins.

However, it is important to consider the supported payment methods of a centralized exchange before choosing it and creating an account. Most of the CEXs support bank transfers, credit and debit card payments. But, you need to make sure whether your preferred fiat currency and the payment method is supported by the platform.

Decentralized Exchanges

While centralized exchanges are best for user-friendliness, decentralized exchanges (DEXs) are preferred to have complete control over your assets.

If you are more into DEXs and would like to buy Toncoins on a decentralized platform, there are two types of DEXs. You can either use Ton-native DEX platforms like Megaton, DeDust, and STON.fi or you can also go for renowned DEXs like Uniswap, PancakeSwap, and 1inch.

When you choose to buy TON on DEX platforms, having stablecoins in your wallet is necessary. Stablecoins like USDC and USDT help you make the process of buying smooth. Additionally, Uniswap and PancakeSwap support BTC and ETH as well apart from stablecoins.

Crypto Swapping Platforms

Crypto swapping sites have emerged in the last few years to serve the growing demand of crypto investment. Several popular crypto swapping platforms like Changelly, ChangeNOW, and SimpleSwap help you exchange USDC, USDT, BTC, ETH coins with Toncoins.

Even though the process of acquiring TON is similar in CEXs and crypto swapping sites, there is a difference in how they enable the purchase. Crypto swapping sites only allow you to convert one crypto into another and enable swaps within a few minutes.

Telegram Bots

Apart from the above platforms, Telegram bots also help you buy TON in a simple manner. While CEXs allow you to buy TON with different payment methods, DEXs use liquidity pools to ensure buying and selling of tokens. However, when it comes to Telegram bots, a new process of buying called peer-to-peer trading comes into picture.

CryptoBot, TON Rocket, and @wallet are the top Telegram bots that help you buy Toncoins in a peer-to-peer market. In this process, you will connect with a seller and you both will agree on the fiat currency and payment method. When the payment is done, the seller will transfer Toncoins to your wallet.

However, this is a risky method to follow because it could involve counterparty issues. So, you must choose how and where to buy Toncoins wisely after a thorough research and understanding of the pros and cons to avoid the risks. A thorough research and awareness of the security and reliability of the platform is essential before investing funds and buying Toncoins.