Everything You Need to Know About TON Crypto
Toncoin is famous among crypto-enthusiasts as well as the token that Telegram practically launched. But in 2020, the platform of exchange of notifications categorically abandoned its cryptocurrency ambitions after the Commission of the United States of America’s Securities and Exchange Commission.
Now Toncoin has returned and is in greater demand than ever before in the first place. It is possible to buy it in the largest cryptocurrency exchanges, and someone has also acquired the consent of the founder of Telegram.
In this tutorial, I will tell all without exception what crypto investors need to understand about the firm Toncoin and its cryptocurrency $TON, in this number about it, and in what place today it is possible to buy $TON.
What Is Toncoin?
Toncoin is a blockchain network originally developed in 2018 by the Telegram messaging app. In that case, Telegram raised $1.7 billion in individual funding to form its newest blockchain network, which was supposed to be a rival to Ethereum. The term “ton” in the word Toncoin is considered a diminutive of The Open Network.
But even before the official launch of Toncoin, Telegram firm categorically refused the plan. The factor in this is that the Special Commission on Significant Securities and exchanges of the United States of America (SEC) gave a lawsuit in Telegram because of Toncoin, ratifying that $TON is considered a significant certificate.
After that, as well as Telegram categorically refused Toncoin, the plan was picked up by creators, in no way conjugated with Telegram. In 2021, the firm Newton, which is now considered Toncoin, acquired the domain name ton.org and repository program code Toncoin. In the same year, Toncoin tossed the Toncoinblockchain and the $TON token.
Even though Toncoin is not in any way dependent on Telegram, the creator and CEO of Telegram Pasha Durov in 2021 made a plan in Telegram. Someone supported Toncoin, declaring that Telegram in no way contains virtually no economic or scientific-technical relationship with $TON.
What Is Toncoin Used for?
The $TON token represents several significant roles in the Toncoinblockchain.
First, $TON is considered a single token accepted to pay for many transactions on the Toncoinblockchain and among blockchains. Each Toncoin subscriber must pay $TON for transaction processing, just as Ethereumblockchain users must pay $ETH for blue fuel.
In addition, $TON is required to pay for information retention in the Toncoinblockchain and domain names at the base of the blockchain. Toncoin is developing a proxy server, and it is expected that $TON will also be used to pay for access to the proxy server.
$TON is also used as a management token for the Toncoinblockchain. Anyone who possesses $TON can assist in voting according to the services about the prospect of the bond.
The 1st referendum in Toncoin occurred in February 2023, if users voted because of the freezing of $TON found in non-initiative mining wallets. As a consequence of the vote, practically 20% of Toncoin’s reserve has been blocked in 4 years.
Traders in Toncoin besides have every chance to have their own $TON tokens to prove transactions in the bond. The blockchain uses a proof-of-stake system similar to Ethereum and other large grids.
Betting in Toncoin in the current period is readily available directly in bonds or some large cryptocurrency exchanges, including Binance. Traders who bet in $TON, acquire auxiliary tokens as a fee.
Why Is the Toncoin Price Rising?
The value of Toncoin has increased almost 80% over the past 12 months and 30% just because of the last week. The main condition for the increase in the direction of $TON is considered in this case that the firm Telegram, which originally formed Toncoin, has now merged the Toncoin wallet into its well-known add-on to exchange alerts.
Telegram has more than 700 million monthly active users, so the possible volume of Toncoin due to this integration is large. Almost all traders in Toncoin are betting that the Telegram stage will attract more people to buy and use $TON, which, in turn, will increase demand for the coin and increase its value.
In full, Toncoin is accumulating expressions according to the edge of this, as well as the blockchain reaches the newest stages in its formation. In February 2023, the plan passed its 1st successful referendum, and due to this $TON coin was joined to several exchanges of the 1st degree. According to Etherscan, to date, the period of $TON coin stays in more than 7 Chetiresta wallets.
Toncoin Price History and Price Prediction
Initially, Toncoin distributed $TON coins through a public mining procedure, in which every aspiring person had the opportunity to contribute. Mining lasted from June 2020 to 2022, as a result of which $TON became in the hands of 10s of thousands of creators, traders, and early followers.
The trading activity of $TON appeared even before that, as well as all easily available tokens were mined without exception. According to CoinMarketCap, in August 2021, $TON traded at $0.50, and by November it had jumped to $4.45 – almost 800% at the apex of the cryptocurrency bull run.
During the regression of cryptocurrency trading, $TON was very injured along with other cryptocurrencies, and by June 2022, its value had fallen to as low as $0.80. But during the rest of 2022 and 2023, the value of the token was constantly increasing according to the increase in the number of users and the formation of a network-wide infrastructure. In this period the size of sales as a rule composed from Twenty-five up to One hundred million dollars per period.
In the first half of 2023 after the 1st vote according to the plan management, the interest to $TON decreased and in the beginning, the majestic value dropped down to 1.20 dollars. Today, after the integration of Telegram, the value of $TON has reached 2,50 dollars and has not stopped increasing. Because of the final week, the size of token sales exceeded Fifty million dollars.
Now almost all traders are arrogant by the problem, of what degree the value of $TON can rise. According to our monitoring, the value of the Toncoin token can reach $3 by the end of the year and $4.50 by the end of 2024.
Our specialists favorably evaluate the dynamics of Toncoin formation and, in particular, the increase in the number of creators working on the Toncoinblockchain. The plan has also created an Ethereum-Toncoin bridge, which could further fuel the approval of Toncoin and encourage more crypto investors and DeFi users to try out this latest blockchain.
As a final result, according to our monitoring, by 2030, the value of $TON is capable of reaching Twenty-five United States dollars, which is ten times the current value of $TON.
Should I Buy Toncoin?
As Toncoin’s exchange rate rises, many investors are wondering if there is still time to get in on the action or if the price is already too high. We take a bullish stance on $TON and believe that this project has one of the highest potentials among cryptocurrency tokens for 2023. Here’s why.
Attracting developers with Telegram’s user base
It’s hard to overstate the importance of Toncoin’s recent integration with Telegram. This messaging app is used worldwide and has over 700 million monthly active users. This is a huge network for Toncoin to tap into.
Importantly, developers tend to build apps where there are users, and Telegram is a bottomless source of new users for the apps they create. Thus, the integration of Telegram will likely encourage more developers to switch from other blockchains to Toncoin.
While Solana in particular is struggling, Toncoin has the potential to poach the best developers and create the next generation of DeFi apps. The more development on the platform, the more valuable $TON will become.
Bullish momentum amid weakening cryptocurrency bear market
Toncoin’s bullish momentum could hardly be more timely. The project is taking off just as analysts are declaring the end of the cryptocurrency winter.
According to our forecast, the price of Toncoin could reach $3 and above by the end of the year, and grow by 50% or more in 2024.
The dynamics of the network development are not limited only to the immediate growth of the token price. There is currently an increase in the volume of Toncoin trades, wallets that store the token, and developers working on the blockchain. All of this is a positive sign for the development of the ecosystem and lays the groundwork for more significant price growth in the future.
Rewards for betting $TON
Toncoin investors can also profit from this project by placing their $TON tokens. This is an easy way to earn interest in the form of additional $TON tokens, which can grow even more in the future as the project develops.
The $TON tokens are currently available through several major cryptocurrency exchanges, so investors do not need to become transaction validators themselves. This simplifies the staking process and makes it accessible to all investors.
Where to Buy Toncoin?
Tonkoin is available for purchase through several major cryptocurrency exchanges. These platforms make it easy to buy $TON even if the investor does not already own the cryptocurrency.
Let’s take a closer look at the two best platforms to buy Toncoin today
Coinbase, an American exchange that offers instant purchase of $TON using a credit card
Coinbase is the largest cryptocurrency exchange in the US and one of the best places for US residents to buy Toncoin safely. The exchange offers several ways to exchange fiat for $TON in seconds with very modest fees.
The easiest way to buy $TON on Coinbase is to use the instant buy feature. This allows users to simply select the amount of $TON they want to purchase and pay with a credit or debit card. It is as easy as making any other online purchase.
Additionally, power users can fund their Coinbase account via card, bank, or cryptocurrency transfer. They can then use Coinbase’s trading platform to purchase $TON at the current spot price. While this path is a bit more complicated, it is easy to navigate and offers the lowest trading fees.
Once users buy $TON, they can store it securely in a custodial wallet on Coinbase. Alternatively, Coinbase offers its self-storage wallet that users can download to store their own $TON tokens or use them for purposes such as DeFi.
Coinbase doesn’t currently support $TON staking, but it has plenty of other benefits for investors. For example, users can receive tokens simply to learn more about them. Investors can also earn cryptocurrency rewards by using a Coinbase credit card.
The exchange has a good reputation for security as it is headquartered in the United States and is licensed by NY BitLicense, the gold standard for cryptocurrency regulation.
Binance is the world’s largest cryptocurrency exchange with ultra-low commissions and $TON staking
Binance is the world’s largest cryptocurrency exchange and the main trading center for DeFi tokens like $TON. It offers some of the lowest trading commissions in the industry, making it a great choice for buying Toncoin.
On Binance, investors can choose between the instant buy feature and spot cryptocurrency trading. Both options are easy to use, and trading fees for spot trading are as low as 0.1%.
The exchange accepts credit cards, debit cards, bank transfers, crypto transfers, e-wallets and more. Almost all popular payment methods are accepted on Binance.
One of the advantages of buying $TON on Binance is that the exchange also supports $TON staking. Thus, Toncoin investors can buy a token and then immediately stake it and start earning interest. Binance offers competitive interest rates and has a strong track record of securing tokens.
Binance offers many features for more advanced investors, including a DeFi-enabled cryptocurrency wallet, an NFT trading platform, and a startup marketplace where investors can discover the best new cryptocurrency tokens.
U.S. investors should note that Binance.US, the U.S. division of Binance, has temporarily suspended fiat deposits. Thus, Binance may be more suitable for investors outside the US.
Toncoin is a hot cryptocurrency originally developed on Telegram that has now taken on a life of its own. The project is quickly attracting investors and developers, and its recent integration with Telegram gives it access to an audience of over 700 million potential users.
We predict that Toncoin could become one of the highest-yielding cryptocurrencies in the next few years. Investors can buy Toncoin today through Coinbase or Binance and join before it soars even higher.
Are you still in doubt about choosing Toncoin? Check out our guide to the best cryptocurrencies to buy in 2023 at the link below.
Who owns Toncoin?
The TON blockchain was created by Telegram, a popular messaging app. However, in 2020, Telegram withdrew from the TON project, and the new Toncoin is an open-source project not affiliated with Telegram.
How can Toncoin be obtained?
Investors can purchase Toncoin on cryptocurrency exchanges such as Coinbase and Binance. These exchanges allow investors to buy $TON using a variety of payment methods, including credit and debit cards, wire transfers, and other cryptocurrencies.
Can Toncoin be mined?
Toncoin was available for mining from June 2020 through June 2022. Currently, all available Toncoin reserves have already been mined, so investors must purchase $TON on a cryptocurrency exchange.
Is Toncoin an ERC-20 token?
$TON is a token on the Toncoinblockchain. It is not an ERC-20 token, although there is a wrapped version of $TON for the Ethereumblockchain.