How to buy TONcoin?

Hey there! In a previous article, I told you about TON and Toncoin. Now it’s time to learn what you gotta do to buy TONcoin. Let’s start!   

Official website https://ton.org/buy-toncoin offers several options to buy TON:

• With a card;
• Telegram bots;
• Wallets;
• Centralized exchanges;
• Decentralized exchanges.

Buying TON with a bank card

— Buy Toncoins with credit or debit cards on websites.

For instance, you can use https://neocrypto.net/. You can buy Toncoin and send it directly to your personal wallet by making a simple purchase with your bank card. No need to make any separate deposits to third-party platforms. You send fiat (USD/EUR) and receive TON. Developers claim that it’s as easy as it gets!

To use this option, you’ll need to create a wallet in advance. If you haven’t decided on the type of crypto wallet, look at this article. I hope it’ll help :)

At NeoCrypto, the checkout works the following way:

1. Fill in the required fields: select cryptocurrency and specify wallet address and the amount to buy;
2. Then you’ll need to enter your billing details correctly. Your credit card payment is securely processed by NeoCrypto Partners.
3. Complete the purchase!

What makes this platform great? You don’t need an account to buy/sell crypto! Pass a quick verification process and receive your cryptocurrency within an hour. Tempting, ha?

Here are some other platforms that TON offers to use for purchasing TONcoin:

Telegram bots

— As you know from my latest article, Telegram messenger was the one to create TON in the first place. Thus, you can trust this app with your funds. Moreover, this is the easiest way to get your Toncoin using a card or peer-to-peer payment.

Telegram bot has quite a straightforward and user-friendly interface! It allows you to purchase cryptocurrency with a bank card, exchange it and transfer it to other wallets. All you need to start is to print ‘/start’, and everything is at your disposal. What can be easier? 

Wallets

— These TONcoin wallets offer an option to get coins within the app.

The choice of a wallet for storing coins is crucial. Security and comfort should not be neglected in any way. I recommend you use a non-custodial wallet since:

1. this type of wallet is decentralized;
2. access to the cryptocurrency remains only with you.

Tonkeeper is the first wallet that the TON website offers us. Tonkeeper is a verified and safe wallet available on AppStore and GooglePlay. 

Developers of Tonkeeper offer to their users: 

Centralized cryptocurrency exchanges (CEX)

— Spot trading companies allow you to buy or sell Toncoin using a trade desk interface.

Cryptocurrency exchanges are privately-owned platforms that facilitate the trading of cryptocurrencies for other crypto assets, including digital and fiat currencies and NFTs.

The idea of centralization refers to using a mediator or third party to help conduct transactions. Buyers and sellers alike trust this middleman to handle their assets. This is common in a bank setup, where customers rely on the bank to hold their money. Centralized exchanges offer beginner investors a familiar, friendly way of trading and investing in cryptocurrencies.

Much like stock trading, these exchanges allow cryptocurrency investors to buy and sell digital assets at the current price or to specify the price to execute an order.

Generally, talking about cryptocurrencies, which are often stored in digital wallets, an individual can lose hundreds or thousands of dollars in digital currency holdings simply by forgetting the private key to a wallet. With a centralized exchange, you don’t need to worry about forgetting your private key as it is being stored and safeguarded by the exchange for you. FTX is a low-cost crypto exchange with fiat on and off ramps, meaning you can deposit and withdraw to your bank account (as long as your bank supports it).

Attention! This platform requires identity verification, including your full name, the place of residence etc., otherwise FTX won’t allow those fiat withdrawals and deposits.

Decentralized cryptocurrency exchanges (DEX)

— Use peer-to-peer transactions to buy TONcoin from other users via decentralized exchanges.

Peer-to-peer (P2P) trading refers to decentralized exchange markets that allow users to buy and sell cryptocurrencies directly from one another. A DEX relies on smart contracts, self-executing pieces of code on a blockchain. 

Even though smart contracts are rules-based, the lack of an intermediary third party means that the user is left to their own, so DEXs are meant for experienced investors.

Decentralized exchanges do not require customers to fill out KYC (know-your-customer) forms, offering privacy and anonymity to users. Since DEXs don’t usually do the proper risk assessment of coins, more cryptocurrencies and digital assets are available here than on centralized exchanges.

Here’re the most popular DEXs that support TONcoins:

This is not a complete list of platforms for TON purchasing, but it should be enough for you to get familiar with the crypto world. Here’s one thing you should never forget: safety’s first! Good luck!