How to Buy Toncoin in 2024 – Beginners Guide

Toncoin (TON), also called “The Open Network”, is an L1 blockchain originally developed by Telegram, now being managed by the Ton Foundation.

The campaign has seen a surge of interest recently on social media and the token has observed an 80% increase this month.

This was most likely due to integration with Telegram, which is the primary communications platform used by crypto projects worldwide. A Ton wallet is now available through Telegram, which could represent a huge boost for adoption.

It presently trades at above 500% of its all-time low of $0.3906, its price now being $2.50. It is also 9th by overall market cap at the current time with about $8 billion in trading volume – it only recently broke into the top 10 coins. 

Quick MEXC Step-By-Step Purchase Guide

Let’s take a quick look at TON investment on MEXC:

  • Step 1 – Create an Account: First, visit the MEXC website and start your account. Either connect with a crypto wallet, or enter your email address/phone number. 
  • Step 2 – Verify Your Account: After the account is created, you must upload personal documents such as a Passport Copy/Driver’s License to confirm your identity. 
  • Step 3 – Deposit Funds: Choose one of the available payment methods on MEXC, enter the deposit amount, and confirm the transaction.
  • Step 4 – Buy Ton: Search for ‘TON’ on the MEXC navigation bar, enter the purchase amount, and confirm your transaction.

We offer a more detailed guide on where to buy Toncoin further down the page. 

Where To Buy Toncoin in 2024

For those looking to invest in Toncoin coins (TON), we have analyzed 4 top crypto exchanges that allow investors to trade in this asset: 

1. MEXC – Overall Best Crypto Exchange to Invest in Toncoin

Our top pick for the best cryptocurrency exchange is MEXC – which is used by more than 10 million people. This easy-to-use and straightforward platform executes trades at a rapid speed, supports multiple trading features, and offers low trading fees. 

MEXC uses high-performance mega-transaction matching technology – which is an algorithm that supports fast and efficient trading. The platform is capable of processing more than 1.4 million transactions every second. 

MEXC home

MEXC requires new investors to complete KYC forms since it adheres to strict AML (Anti-Money Laundering) policies. MEXC also stores more than $500 million worth of user funds in cold storage. By using SSL encryption and two-factor authentication, MEXC prioritizes security. 

On the cryptocurrency exchange, investors can buy and sell more than 1,000 cryptos. The platform uses a swap farming mechanism to support more than 2,000 cryptocurrency pairs. Investors can also access the flexible savings option and generate passive income on their crypto tokens. 

Professional traders can engage in margin and futures trading – and apply leverage to maximize their trades. The platform supports advanced charting indicators and offers multiple customization tools to support technical analysis. 

MEXC staking

Notably, MEXC charges 0% spot trading fees on crypto transactions. The futures trading fee starts from just 0.02% per transaction. Investors can join the platform through a desktop/laptop, or download the mobile app via iOS and Android. 

For any queries or problems, you can contact the customer support team, which is accessible 24/7. After creating an account, investors can deposit funds via SEPA transfers, SWIFT, and credit/debit cards. 

Debit/Credit Card Deposit Fee General Fees
2% 0% spot trading fees

Pros pros

  • 0% spot trading fees
  • Futures trading fee starts from 0.02% per transaction
  • Flexible savings feature
  • Supports margin and futures trading
  • More than 2,000 cryptocurrency pairs

Cons cons

  • 2% credit/debit card trading fee

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. OKX – Get Trading Fees Discounts with OKB, the Native Crypto of this Popular Exchange 

The next crypto exchange is OKX – a popular platform that offers a suite of unique trading features, discounts, and low trading fees. Launched in 2014, OKX has established a user base of more than 50 million customers. 

The platform allows investors to trade more than 300 cryptocurrencies. Offering competitive trading fees – OKX charges just 0.1% per transaction. However, you can earn discounts on trading fees by holding OKB – the native token. Those holding as much as 2,000 OKB can pay just 0.08% fees per transaction. 

OKX Crypto Exchange

This platform also offers features such as the OKX Jumpstart – which allows you to access and invest in new cryptocurrency projects. Through the ‘Simple Earn’ mechanism, one can start locking in tokens and generate passive income. 

Investors looking to take out crypto loans can do so with OKX. You can set aside your crypto holdings as collateral and get loans in Bitcoin, Tether, Ethereum, and other crypto tokens. Advanced traders can trade futures and engage in options trading and perpetual swaps. 

Novices can practice their trading strategies and familiarize themselves with OKX by accessing the demo account – which supports virtual trading. On OKX, you can make a deposit via credit/debit cards, Apple Pay, VISA, and Mastercard.

Debit/Credit Card Deposit Fee General Fees
3.49% 0.1% trading fee, reduces to 0.08% for OKB token holders

Pros pros

  • Trading fee discounts for OKB token holders
  • Offers crypto loans
  • Access new cryptos through the OKX Jumpstart
  • Multiple payment options

Cons cons

  • 2.49% credit/debit card fees

3. Binance – The World’s Largest Crypto Exchange with Huge Liquidity Pools and Trading Volumes

Binance is the largest exchange by trade volume and was set up by the (in)famous Changpeng Zhou, a former developer with HFT experience, in 2017. 

Binance has switched its offices on multiple occasions and does not have an official HQ, according to its CEO. Over 150 million people are Binance customers worldwide. 

Binance has a gigantic suite of offerings for customers, so many it can be a little hard to keep track of. 

This includes project launchpads, debit cards with cashback, futures, OTC trading, staking, leverage, NFT Marketplaces, its own BNB coin and stablecoin (BUSD), a centralized blockchain (Binance Chain), a decentralized blockchain (Binance Smart Chain) and much more.

In terms of fees, Binance charge a 2% fee if you want to purchase a crypto outright with a debit or credit card. This is half the price you would pay with Coinbase. Binance supports more than 220 currencies and it is an extremely versatile crypto exchange. Trading fees are generally in the vicinity of 0.1%. Over 150 crypto assets are on offer with many more trading pairs.

Binance.US, a separate Binance operation, is cutting jobs and straining under legal and financial pressure. But the main site is very much active and open for business, and is still the #1 place for new coins that want to increase their trade volume and possibly experience upside potential.

Binance could be a great alternative for people looking to cut down on the 3.99% fee for a straight credit card purchase, which is the most common way that a beginner is going to access crypto. The only issue is that Binance is not available to US customers. Binance.US is, but its list of offerings is limited in comparison. 

Debit/Credit Card Deposit Fee Fee to Buy Bitcoin
1 – 2%, depending on the country of residence. 0.1% of the purchase amount.

Pros pros

  • Trade Bitcoin and 150+ other cryptocurrencies from 0.1%
  • Largest crypto exchange for trading volume and liquidity
  • Fast withdrawals – usually processed within 10 minutes
  • Fast KYC setup
  • Huge list of products and services

Cons cons

  • Little harder for beginners to use.
  • Currently under regulatory scrutiny.

4. Coinbase – Popular Regulated Crypto Exchange with Transparent Fees & Wide Range of Cryptos

Coinbase was started in 2009 in the USA by Brian Armstrong, a former AirBnB engineer. It is divided into Coinbase, Coinbase Pro, and Coinbase Wallet. The difference is that Coinbase Pro is for professionals, and comes with much smaller fees for large volume orders, Coinbase Wallet allows access to decentralized crypto, and standard Coinbase allows access to major cryptos, though it comes with a 3.99% fee if paying by credit card.

This is quite a steep fee, but can be lessened for those using Coinbase Pro or through Coinbase One is a subscription product that allows fee-free buying and selling of cryptocurrencies, with specific limitations. Coins can also be staked through the Coinbase Earn program. With Coinbase Pro, maker and taker fees depend on the total volume.

Coinbase is known for being regulatory compliant and taking all measures in terms of account security, more than the majority of other exchanges which view compliance as going against the ethos of blockchain. However, it has still not escaped the scrutiny of the SEC.

The platform allows quick withdrawals and allows access to over 250 crypto assets. Features are available for both beginner investors (Coinbase Basic) and advanced traders (Coinbase Pro/CoinbaseOne). This is a great exchange to purchase Ton through and a wonderful exchange for beginners, though the fee structure can be a little confusing to understand for many. 

While the Coinbase customer support was lacking in its earlier days, it has come a long way and now offers 24/7 support. 

Debit/Credit Card Deposit Fee General Fees
3.99% 1.49 – 3.99% for basic purchases

Pros pros

  • Exchange is easy to use and perfectly suited to beginners
  • Solid security tools and now a publicly traded stock
  • Instant way to purchase crypto with PayPal or Bank Card.

Cons cons

  • 3.99% is one of the highest fees in the industry
  • Trading fees are difficult to understand

What is Toncoin?

For those wondering what is Toncoin? We’ve got you covered. Toncoin is a fast layer 1 PoS blockchain founded in 2018. It can process millions of transactions per second and is known for its flexible and scalable architecture. It was previously known as Gram and implements an exciting concept known as Sharding, which has been talked about by many other projects, who have not been able to put it together.

For example, Toncoin is far ahead of Ethereum in practically all regards. Its block time is 5 seconds, while Ethereum’s is about 12 seconds. Its transaction finality is under 6 seconds, while Ethereum’s is between 10 to 15 minutes. Sharding support and cross-shard communication are far better with Toncoin.

Toncoin was ultimately dealt a death blow by the SEC, who deemed its ICO an unregistered securities offering. As a result, Pavel Durov, the founder and CEO, had to return $1.2 billion to investors and pay $18.5 million in penalties. After this, the project was abandoned before seeing a resurgence in popularity in recent weeks and months.

In total, there are 5 billion TON with 1.2 billion in circulation at the present time. Note that TON is both the ticker and an acronym for the project – “The Open Network”.

To get started with TON, all you need is a Telegram account, which most people involved in the Web3 industry will already have. 

Is Toncoin A Good Investment?

It’s always hard to say for certain whether some is a good investment or not. But Toncoin has a lot of positive elements that are undeniable.

From a technical perspective, it’s an extremely exciting project. It won a speed contest in September 2021, where it recorded speeds of 55,000 transactions per second. That’s very fast. Many projects talk about what speeds they can theoretically hit, but this is one of the fastest live speeds we have seen in a legitimate environment.

Cryptocurrency Toncoin
Ticker Symbol TON
Price $2.50
Price Change (24hr) 5.86%
Market Cap $8,568,666,840
Circulating Supply 3,431,892,088
Trading Volume (24hr) $50.087,707
All-Time High $5.29
All-Time Low $0.519364

What is most exciting is its near-limitless scalability through sharding. The concept might be a little difficult to understand, but essentially each shard is its own miniature subnetwork with a specific purpose for maximum efficiency. It uses Turing complete smart contracts and has the potential to handle millions of transactions per second.

So the technical side is sorted, and this is a blockchain that can indeed compete with and beat companies like Visa and MasterCard. Visa claims it can handle 24,000 transactions per second (tps) and averages 1,700 in real-time. But we have already seen speeds of 55,000 tps with Toncoin.

Technical excellence is only one part of the equation, but Toncoin excels in both. It’s closely linked to Telegram, the primary communication platform for Web3 projects. 

Toncoin Price Prediction

Our analysts believe that $3 is quite easily achievable for TON by the end of 2023, as there has been considerable activity regarding the token as of late in the media. Towards 2024 and 2025, the upper price can range between $4.5 and $7. This would be nearly a 300% price increase.

By 2030, the price could go to new heights. TON is only trading at 5x it’s all-time low (ATL). Many large-cap cryptos trade at 25,000x their all-time low or more. Upside potential could be gigantic. If developer activity increases, along with adoption, we could see parabolic price increases for this token.

The fact that Telegram integrated a TON wallet into their foundation is a very positive indicator. September has traditionally been a negative month for Bitcoin, but TON has beaten the bear market and experienced its upsurge.

By 2023, the TON price is likely to be in the range of $5.50 to $6.60 based on our analysis. The token has too much momentum and an exceptional technical architecture that is highly likely to see further engagement.

An industry report indicated that its value rise to $470 billion by 2030, a CAGR of about 40%. Toncoin has strategies to introduce file storage and payment channels for users. Coupled with its Telegram partnership, this could easily herald strong price increases in future.

We predict $19 – $25 by 2030, depending on market conditions. If people can easily set up a Ton wallet on Telegram and send funds to one another, adoption levels could skyrocket. For a broader and deeper analysis, check out our detailed TON price analysis guide.

How To Buy Toncoin in 2024 – Detailed Tutorial 

The following guides indicate how to buy Toncoin in 4 simple steps with MEXC.

Step 1: Sign up with MEXC

The first step is to sign up with MEXC. You can connect your Google account on the website, and enter your email address/phone number. 

Alternatively, users can connect to the exchange with a cryptocurrency wallet.

MEXC register

Step 2: Verify Your Account

Since MEXC adheres to AML measures, it requires investors to complete a KYC form. To verify your identity, you must upload documents such as a passport copy/driver’s license.

It can take up to 24 hours for MEXC to verify your account.

MEXC verification

Step 3: Deposit Funds

Once the account is verified, you can deposit funds. The supported payment methods on MEXC include SEPA transfers, credit/debit cards, and SWIFT.

Choose your preferred payment method, enter the investment amount, and confirm the transaction.

Step 4: Buy TON 

Once your account is funded, you can start trading TON and other cryptos on MEXC. Search for the cryptocurrency on the MEXC navigation bar to continue.

Enter the amount of tokens you wish to purchase, and confirm the transaction.

Conclusion

TON has it all. Limitless scalability, lightning-fast transactions, Telegram collaboration, and an integrated ecosystem that includes file storage, payment channels, and its own DNS system with private encryption and decentralized naming. Let’s also not forget that it raised a huge $1.7 billion previously but got shut down by regulatory rulings.

It could be extremely interesting to see how it develops with time and the coin is trading at a discount, based on where we believe the price will head in the future. However, projections are not facts, and the price of TON depends on multiple factors and wider market conditions. Individual research is needed along with portfolio diversification and risk mitigation.

Investors can purchase TON from a popular cryptocurrency exchange such as MEXC. This exchange charges 0% spot trading fees, and gives users access to staking options, security protocols, and multiple payment methods. 

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

References 

FAQs

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Michael Graw
Editor

Michael Graw is an experienced writer in the business and B2B tech fields. His articles can be found on Business Insider, Entrepreneur, Tom’s Guide, and TechRadar, and cover everything from corporate finance to crypto and international tech regulation. A prolific copywriter and entrepreneur, Michael has worked with a wide range of SaaS and tech companies and has his finger firmly on the pulse of B2B tech and finance.