Toncoin (TON) is making waves in the crypto world thanks to its unique features and strong ties to Telegram.
In 2024, the TON ecosystem experienced a noticeable growth. This rapid development and an expanding community, has positioned Toncoin as one of the top cryptocurrencies by market cap.
In this guide, you’ll learn what makes Toncoin special, how to buy it, and how to use it securely for payments, staking, and more.
What is Toncoin (TON)?
TON is the main token of The Open Network (TON) blockchain. To rival traditional blockchains that can get slow and congested, TON uses a technology called sharding. This allows the network to handle hundreds of thousands transactions at once without delays.
In 2024, the TON ecosystem saw explosive growth. Its Total Value Locked (TVL) jumped by 5,000% in just six months, currently sitting at $311.75 million.
The growth was fueled by the rise of DeFi (Decentralized Finance) and dApps (Decentralized Applications) on the network. TON currently has over 34 million active wallets each month and more than 2,000 applications in its ecosystem. These dApps cover everything from dating, gaming, to social apps and finance.
Toncoin is what powers this entire system.
Origin and development of Toncoin
The development of TON started during the era of the Telegram Open Network. After a regulatory pause, it was rebranded in 2021 as The Open Network under new leadership.
Although independent, TON has strong ties with Telegram, which has officially supported it as its blockchain of choice.
This gives TON a big edge. Telegram has 900 million users, and they can easily buy, send, and store Toncoin right inside the Telegram messaging app. It’s as easy as using any other messaging or payment app.
Key milestones:
- Toncoin started in 2021 with 5 billion tokens. Its supply grows slowly, with an inflation rate of 0.3-0.6% per year.
- In June 2023, TON introduced a burning system that destroys over 50% of transaction fees, reducing the total supply over time.
- In October 2023, 25% of all Toncoin was locked up for five years in the TON Believers Fund to add long-term stability.
- By the end of 2024, TON became one of the top 15 cryptocurrencies by market cap.
TON’s fast growth, simple user experience, and strong Telegram partnership make it one of the most promising projects in the crypto world today.
Key use cases of Toncoin
Toncoin is used for all fundamental activities within the TON ecosystem. It is the default token for operations like payments, staking, governance, and running applications.
Payment method
Toncoin serves as the main medium of value exchange within the network.
- Peer-to-Peer transactions: Users can transfer Toncoin directly to each other. Thanks to TON’s high-speed blockchain, transactions are processed quickly.
- Telegram integration: Telegram allows users to send Toncoin directly within chat messages, making it as easy as sending a text.
- dApp Integrations: It is accepted as payment within dApps on the TON platform.
- Blockchain service payments: Used to pay for TON’s blockchain-based services, such as domain names (DNS), decentralized storage, and the TON Proxy service.
Anyone with an internet connection and a TON wallet can send or receive Toncoin, making it ideal for digital payments anywhere in the world.
Executing transactions
Every transaction on the blockchain, from simple token transfers to smart contract interactions, requires a small fee in Toncoin.
The fees go to validators who ensure the network stays secure and efficient as payment for their work.
Staking
As a proof-of-stake (PoS) blockchain, TON uses validators who are in essence approving and verifying transactions on the network.
If you have at least 300,000 TON, you can run a validator node and earn rewards in Toncoin for helping secure the network.
If you don’t want to set up your own validator or have significantly lower TON holdings, you can still earn rewards by staking your TON through services like bemo. This lets you participate without any technical work.
Powering smart contracts
Smart contracts are essential for running apps on TON. They handle things like automatic payments, token exchanges, and staking without needing a middleman.
To use or create a smart contract, developers pay a small transaction fee in Toncoin. This fee covers the cost of running the app on the blockchain.
Governance and decision-making
Toncoin holders can shape the future of the TON network. They can suggest changes and vote on important decisions. This makes sure the network evolves with input from the community and in their best interests.
Incentives for participants
Toncoin rewards both users and developers for being active on the network. Some examples are:
- The Open League Program that rewards users and projects with Toncoin for their activity on the network.
- Telegram’s ad platform uses Toncoin for payments. Content creators on public channels now get 50% of Telegram’s ad revenue in Toncoin, encouraging more people to use it.
Thanks to TON’s fast and efficient system, Toncoin can handle all these tasks quickly and smoothly.
How to Buy Toncoin: Step-by-Step Guide
Learn all the methods to buy TON in this step-by-step guide.
1. Choose a Centralized Exchange
To find all the platforms where you can buy Toncoin (TON), check CoinMarketCap or CoinGecko. These sites provide updated information on exchanges, their liquidity, trading pairs, and prices.
As of November 2024, Toncoin is available on leading centralized exchanges:
- Binance
- Bybit
- OKX
- Kraken
- HTX
- Bitget
- Gate.io
- KuCoin
When selecting a platform, compare fees for deposits, withdrawals, and trading. Make sure the CEX you choose is licensed to operate in your region and supports payment options for your country.
2. Create an Account
To start trading on a CEX, you need an account:
- Register using your email.
- Complete KYC verification (identity verification). This is mandatory on most platforms.
- Enable two-factor authentication (2FA) to secure your account and check if the exchange offers additional security options
Please note that identity verification rules vary by platform and country. Before signing up, review the exchange’s terms of service.
3. Fund Your Account
Once verified, search for “Deposit” button and add funds to your exchange account :
- Fiat options: Deposit currencies like USD or EUR via bank transfer, credit card, or other available payment services to buy Toncoin using the deposited funds.
- Crypto options: Transfer cryptocurrency (e.g., BTC, ETH, or USDT) from another wallet or exchange to trade for TON.
Many exchanges also allow you to purchase Toncoin using your local currency via the “Buy crypto” option.
Make sure to check the fees and processing times before transferring funds.
4. Place a Buy Order
When you already hold other cryptos like USDT or USDC, you can trade it for Toncoin:
- Search for Toncoin (TON) in the exchange's market section.
- Select the trading pair you want (e.g., TON/USDT).
- Click to open the spot trading interface.
- Choose an order type:
- Market Order: Buy instantly at the current market price;
- Limit Order: Set your desired price and wait for it to match.
- Enter the amount of Toncoin you want to buy and confirm the transaction
- Wait for your purchased Toncoin to appear in your exchange wallet.
Tip: If the exchange separates wallets (e.g., OKX’s "Funding" and "Trading", Bybit’s “Funding” and “Unified trading” accounts), transfer the funds internally to the Trading Wallet first.
5. Buy Toncoin on a Decentralized Exchange (DEX)
You can buy Toncoin on a DEX if you want more privacy. This option is also great for advanced users. With this method, you’re essentially swapping other cryptocurrencies for TON without relying on centralized exchanges.
Here’s how to purchase Toncoin using a decentralized exchange.
Step 1: Choose a decentralized exchange (DEX)
If you want to trade native Toncoin, you might explore platforms like:
- STON.fi
- DeDust
- Megaton Finance
If you want to buy TON on other chains like Ethereum or BNB Smart Chain, use multi-chain DEXs:
- Uniswap v3
- PancakeSwap v3
These platforms support trading of WTON, which is Toncoin wrapped for compatibility with Ethereum (ERC-20) and Binance Smart Chain (BEP-20) networks.
You can later convert it to native TON if needed using a cross-chain bridge or swap service (e.g., STON.fi).
Step 2: Connect your wallet
To trade on a DEX, you need a compatible wallet:
- For native Toncoin, use wallets like Telegram Wallet, Tonkeeper, MyTonWallet, or any other compatible app.
- For WTON, use MetaMask or Trust Wallet, funded with USDT, USDC, BTC (for Uniswap) or BNB (for PancakeSwap).
Withdraw crypto to your wallet from a centralized exchange or transfer from another wallet if needed.
Step 3: Select the trading pair (e.g., USDT/TON)
On the DEX, select the trading pair (e.g., USDT/TON or ETH/TON) that matches the cryptocurrency you have deposited in your wallet.
Before proceeding, ensure you have enough funds to cover gas fees.
Step 4: Place a swap order
To complete the exchange:
- Enter the amount of TON you want to purchase or other cryptocurrency you want to spend;
- Verify the transaction details (amount, fees, slippage);
- Click the "Swap" button;
- Confirm the action from your wallet.
The transaction usually completes within seconds. You can check your wallet for the updated balance.
6. Store Your Toncoin Securely
For long-term storage, move your Toncoin to an external wallet. Consider using:
- Non-custodial wallets like Tonkeeper or MyTonWallet.
- Hardware wallets like Ledger or SafePal for maximum security.
A good practice is to avoid keeping large amounts on exchanges.
7. Track and Manage Your Investment
Now that you are a proud Toncoin holder:
- Monitor your holdings and real-time prices using portfolio tracker apps like CoinStats, Portfel, NOW Tracker, or other services.
- Follow official TON channels, news platforms, and community forums to keep up with updates.
- Explore ecosystem projects, like staking to earn passive income with your TON while you hold it.
For example, bemo liquid staking app offers one of the best APYs among TON-based DeFi protocols. You can start earning rewards with just 1 TON while still using your staked assets in other DeFi apps. Explore the opportunities now: https://app.bemo.fi/.
Alternative Ways to Buy and Trade Toncoin
If you're looking for other ways to buy and trade Toncoin beyond exchanges, here are some popular methods.
Buying through Telegram bots
Telegram bots are a simple and most beginner-friendly way to buy Toncoin directly within the app.
Find and Start the Bot
Search for a verified TON bot that supports purchase options. Telegram’s Wallet is one of the most popular app.
- Always double-check the bot's verification status and ensure you're using official or trusted services.
- Start the bot by clicking ‘Start’.
Deposit Funds
In the bot menu, select ‘Add crypto’ and choose a payment method. The bot supports direct purchases with credit/debit cards.
You can also transfer crypto from your existing wallet and then use it to buy TON via the built-in ‘Exchange’ function.
Buy Toncoin (TON)
Enter the amount of TON you want, confirm the purchase, and the payment is processed in real time.
Verify that the TON has been credited to your wallet.
Withdraw to Personal Wallet
- Select ‘Send’ to withdraw to your external wallet.
- Confirm the withdrawal and wait for the TON to arrive
Another option is exploring P2P services.
P2P Trading Platforms
Peer-to-peer (P2P) platforms might be the simplest way to buy and sell Toncoin directly from other users. Many centralized exchanges integrate this functionality.
Outside of exchanges, applications like Wallet, xRocket (@tonRocketBot), and CryptoBot provide P2P services directly from the Telegram app.
Some of their benefits are:
- No middleman – trade directly with others.
- Flexible payment options: bank transfers, e-wallets, or other cryptocurrencies.
- Less personal data required compared to centralized exchanges.
On the other hand, this convenience comes with certain risks:
- You're dealing directly with other users so there’s a risk the other party might not hold up their end of the deal.
- Transactions can take longer since both parties must agree and complete the process manually.
- Prices may not match market rates.
Always ensure the platform has a reliable escrow system before trading. If available, verify the seller’s reputation or reviews.
How to Sell Toncoin
Selling Toncoin works similarly:
- Choose a platform: a centralized exchange (CEX), decentralized exchange (DEX), or P2P trading platform.
- Transfer your Toncoin to the platform if it's stored in an external wallet.
- Place a sell order for your desired trading pair and withdraw the proceeds to your bank account or crypto wallet.
Remember to check fees and consult a tax professional to ensure compliance with reporting requirements.
Frequently Asked Questions
What are the benefits of investing in Toncoin?
Toncoin offers rewards when you stake it, giving you passive income. Its use in thousands of DeFi apps and integration into the Telegram messaging app means it's in demand for trading, payments, and more. Plus, its burning system reduces the total supply over time, which can increase its value.
How much money do you need to buy Toncoin?
The minimum amount of Toncoin you can buy depends on the platform you choose. On decentralized exchanges like Uniswap, PancakeSwap, DeDust, and Ston.fi, you can buy as little as $1 worth of Toncoin or less.
Many centralized exchanges (CEXs) allow direct purchases with credit/debit cards with as little as 10 (Kraken) or 15 (Binance) EUR or USD. For Spot Trading on CEXs there are typically no strict limits, so you can trade small amounts freely.
Can you buy a fraction of Toncoin?
Yes! Toncoin is divisible, meaning you don’t need to buy a whole token. You can purchase small fractions starting form 0.1 TON.
Can you buy Toncoin with a credit card?
Yes, several platforms like Binance, Kraken, and Bybit support credit card payments for Toncoin. You can also use Telegram’s Wallet bot for easy direct purchases.
How to safely store Toncoin after purchasing?
Use only trusted software wallets and exchanges, double-check links, and never share your private keys or recovery phrases with anyone. These keys grant full access to your funds. Consider using hardware wallets: devices like Ledger store your Toncoin offline, protecting it from online hacks.
What is the best exchange to buy Toncoin?
Top exchanges for Toncoin include Binance, Bybit, KuCoin, DeDust, and Ston.fi. Compare fees, supported payment methods, and regional availability to choose the best option for you.
How can I buy Toncoin anonymously?
You can purchase Toncoin without KYC by using decentralized exchanges (e.g., STON.fi, DeDust, Megaton) or P2P platforms (e.g., xRocket on Telegram). Ensure the platform uses a secure escrow system to protect your transaction.
Is Toncoin a good long-term investment?
Toncoin’s strong performance in 2024, combined with its use cases and growing adoption, makes it a promising long-term investment. The burning system and staking rewards enhance its value over time. However, always research how to invest in Toncoin securely before committing.
Conclusion
Toncoin’s integration with Telegram, growing ecosystem, and multiple use cases make it a promising choice for investors.
For absolute beginners, starting with a centralized exchange (CEX) or Telegram Wallet bot to buy TON is often the simplest option. You can start using DEXs once you feel comfortable managing your own wallets.
It’s best to practice with small amounts first and ensure you’re familiar with platform interfaces and transaction processes.
With this guide, you’re ready to join the TON ecosystem and take your first steps in crypto. The next step is exploring staking and other DeFi opportunities to maximize its potential.
