Toncoin (TON) Price

What Is Toncoin (TON)

Toncoin (TON) is a cryptocurrency used in The Open Network (TON). In turn, The Open Network (TON) is a decentralized platform designed for scalable cross-chain interoperability. It was originally developed by Telegram, but is now being run by the TON Foundation. The TON ecosystem includes the TON blockchain, the TON domain name system (DNS), TON storage, and others.

Toncoin aims to be the next-generation network that connects all blockchains and the entire Internet.

Source & Copyright © TON.org

The TON concept was invented and launched by the Durov brothers, the founders of Telegram, in 2018. Initially, TON is supposed to be a platform for dApps, analogous to the App Store and Google Play.
In 2020, the network was handed over to the Toncoin community, which is still actively developing the project. Now this project is fully decentralized.

The Toncoin cryptocurrency is used to pay for network transactions, games and TON-based collectibles. Toncoin uses Proof-of-Stake (PoS), and its blockchain is designed as a super server capable of processing millions of transactions per second to deploy smart contracts and support decentralized applications.

Who Are the Founders and Investors of Toncoin

Prior to its launch, the development of the project was financed by Pavel Durov's personal funds. By 2017, additional funds were needed to maintain the servers, and Durov decided to raise funds using the TON blockchain and the Gram cryptocurrency.

To raise funds, Telegram organized a private sale of futures contracts, holding which would give the right to receive the cryptocurrency Gram immediately after the blockchain was launched. During the development phase, TON managed to raise significant funding through private sales of Gram tokens. In April 2018, the second-largest sale of Gram tokens was held, totaling $1.7 billion.

The testnet was launched in November 2019. 5 billion tokens were issued. 1.45% of this amount was received by the project developers.
In May 2020, amid regulatory pressure, Telegram ceased work on the project. The US Securities and Exchange Commission recognized Gram tokens as a security and banned the issuance of tokens. The project passed into the hands of the crypto enthusiast community TON Foundation. Through open source, a new network and TON token was launched. Anatoly Makosov and Kirill Emelianenko became the main developers at TON Foundation.

What Is Toncoin Price Today

Today, TON's price is $5.54 and its trading volume in the last 24 hours is $501,840,316.

Source & Copyright © TradingView

What Is the All-time High for Toncoin (TON)

Toncoin (TON) had an all-time high of $5.29 on November 12, 2021. The growth is mainly due to the general upward trend in the market at that time in 2021.

What Is the All-time Low for Toncoin (TON)

The lowest price for Toncoin (TON) is $0.519364 and was recorded on September 21, 2021.

What is the Market Cap of Toncoin (TON)

Toncoin (TON) has a market capitalization of $13,857,964,239. It is calculated by multiplying the current price by their number in circulation. There are currently $2,546,369,280 coins in circulation. Market capitalization can change. It is important to follow the price dynamics in order to make reasonable investment decisions.

How and Where to Buy Toncoin

Toncoin can be purchased in several ways:

1. Via Telegram wallet bot
2. Through any exchange that supports TON.

Via Telegram-bot 

1. In Telegram, go to the "Wallet" tab
2. Choose your preferred method of purchase from the available ones
3. Choose the currency you will use to pay for the TON
4. Select the amount of TON
5. Click on "Buy"

Through an exchange

Toncoin is supported by many cryptocurrency exchanges such as: 

• KuCoin
• HTX
• MEXC
• OKX
• ByBit

Here's a step-by-step guide on how to buy TON on an exchange:

1. Choose any exchange where TON is listed, create an account and go through KYC verification.
2. Fund your account through available methods (e.g. bank card, wire transfer or other type of transfer supported by the exchange).
3. Go to the TON trading page and select the number of coins you want to buy. 
4. Check the transaction details and confirm the purchase.
5. Your TON coins will appear on the exchange's wallet. 

In general, the process of buying TON is the same on any exchange, but there may be minor differences.

How to Sell Toncoin

You can also sell TON in two ways. 

Via Telegram-bot 

1. In Telegram, go to the "Wallet" tab
2. Click "Sell" (for Russian users it is possible to sell via the built-in p2p-exchange)
3. Select TON and enter the amount to sell.
4. Click on "Sell". 
5. The "Wallet" section is very simple and intuitive, so buying and selling TON takes a few minutes.

Through the exchange

In order to sell TON, you need to:

1. Choose any exchange where TON is listed, create an account and go through KYC verification.
2. Transfer your coins from your wallet to the exchange if they are not already there. 
3. Go to the TON trading page and select the number of coins you want to sell.
4. Verify the transaction details and confirm the sale.
5. Withdraw the funds to your bank account/e-wallet. 

In general, the process of selling TON is the same on any exchange, but there may be minor differences.

Is Toncoin Legit?

In the past, the TON project was persecuted by regulators, resulting in a ban on the sale of the project's tokens. As mentioned above, the Durov brothers handed the project over to the community, which built a new network and token. Now TON meets the requirements of regulators. However, as with any cryptocurrency, there are risks with investing, such as market volatility. The legality of using Toncoin, depending on the country, is a matter of research on its own. 

Be aware and research the legislation in your region.

What Makes Toncoin Unique

The uniqueness of TON as an entire ecosystem is that it provides complete decentralization of data. Blockchain provides high capacity while ensuring security. This is possible due to the operation of Masterchain and Workchain within the network. 
The entire ecosystem encompasses the following services:

• TON Blockchain: what the entire ecosystem hinges on and through which payments are made;
• TON P2P: the organization of the network of TON users themselves;
• TON Storage: storage for files and services;
• TON Proxy: an anonymizer;
• TON DHT: a distributed system for searching objects by hash codes;
• TON Services: a platform for creating distributed applications for TON;
• TON DNS: decentralized name system;
• TON Payments: a blockchain-based payment system;
• TVM: virtual machines for executing contract algorithms between buyers and sellers.

How to Mine Toncoin

One way to start staking a TON:

1. Go to the official website at https://ton.org/en/stake 
2. Choose an available pool of validators
3. Connect your wallet and follow the further instructions.

Another way is to choose a reliable staking pool. You can read more about it in our special article.

How to Keep Your Toncoin Safe

You can store TON in the following wallets:

• Tonkeeper
• Tonhub
• Ton Wallet
• SafePal.

Pros and Cons of Toncoin

Summary 

Despite the obstacles during the launch phase, TON has not only managed to overcome them, but also to continue its unique development path and bring the cryptocurrency community closer to a secure decentralized future. An active developer base continues to improve TON, which has grown from a simple blockchain to an entire ecosystem. And with a strong community, TON can become an integral part of the digital future.