Get To Know Toncoin (TON): Definition, History, Advantages, and How to Buy It

Cryptocurrencies are currently increasingly popular and in demand by many people, especially those interested in investing. One crypto asset that has potential is Toncoin (TON) . Even though the name is not as popular as Bitcoin and Ethereum , the crypto asset Toncoin (TON) has quite promising prospects. So, if you are interested and want to know the history and potential of this crypto asset, here is the explanation.  

What is Toncoin (TON)?

Toncoin (TON) is a crypto asset created by Telegram, with the aim of being a fast, safe and efficient digital payment solution. The project is part of Telegram Open Network (TON), a blockchain platform developed by Telegram to support various applications and services, including payments, digital identity, and decentralized data storage.

History of Toncoin (TON)

Toncoin (TON) was announced by Telegram in 2017 in one of the largest blockchain projects ever. Fundraising for this project raised more than $1.7 billion from investors around the world. However, Toncoin's journey has not always been smooth, with several legal challenges and regulatory changes delaying the project's launch multiple times.

Even so, Toncoin (TON) is starting to attract attention because it is considered to have quite high potential for further development. At the time this article was written, the price of the crypto asset Toncoin (TON) reached IDR 34,170 and was ranked 15th so it was quite promising.

Also Read: What are Crypto Asset Coins?

Advantages of Toncoin (TON)

Following are details of the advantages and potential of Toncoin (TON) which has made many people start looking at this crypto asset. 

• Highly scalable, Toncoin (TON) is designed to support millions of transactions per second, making it one of the highest scalable cryptocurrencies on the market.
• High security, namely by using advanced encryption technology and Byzantine Fault Tolerance (BFT) consensus, Toncoin (TON) offers a high level of security against attacks and manipulation.
• Transaction fees are quite low, making Toncoin (TON) suitable for various types of payments, from microtransactions to large transactions.
• Digital identity, Toncoin also integrates a digital identity system that allows users to verify their identity safely and reliably.
• Digital payments, Toncoin (TON) can be used for various types of digital payments, from purchasing goods and services online to cross-border money transfers without intermediaries.
• A DeFi application, Toncoin (TON) can be used in decentralized finance (DeFi) applications such as loans and cryptocurrency exchanges without intermediaries.

Also Read: What is Cryptography?

Challenges to be faced by Toncoin (TON)

Even though it has quite promising advantages or potential, Toncoin (TON) still has several challenges that must be faced. First, Toncoin (TON) must face regulatory challenges in various countries, which may affect its adoption and use in the global market. Apart from that, Toncoin (TON) also still has to develop its platform to be able to face fierce competition from other projects in the growing cryptocurrency industry.

Conclusion

From the explanation above, Toncoin (TON) is a crypto asset that has promising potential. With features such as high scalability, low fees, and secure digital identity, Toncoin can become one of the major players in the global cryptocurrency ecosystem. 

However, it is important to remember that investing in cryptocurrencies involves risks, and users should conduct careful research before making an investment decision.

Also Read: What is a Token?

How to buy Toncoin (TON) with Bittime

After knowing what it is Toncoin (TON), are you interested in buying and investing in this crypto asset? If you are interested, you can buy it at Bittime. TON token is available on Bittime in TON IDR pairing.

Following guide on how to buy TON tokens on Bittime.

1. Register an account at Bittime using an active email.
2. Complete the identity verification process.
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon.
5. Select IDR pairing to buy TON with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy TON.
9. Click the 'Buy TON' button.
10. A notification pop up will appear. Read it carefully and click 'Confirm'.
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification.
13. Check your TON balance in the wallet after a successful transaction.

To see a complete guide on how to buy Toncoin (TON), you can click here.

Besides buying Toncoin (TON), you can also buy various crypto assets, such as BTC, ETH, USDT, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep an eye on the movement of the crypto asset price chart today to find out the crypto market trends on Bittime. 

Buying and selling crypto assets on Bittime is easy, safe, and instant. Bittime is officially registered and supervised by Bappebti and Kominfo.

Also Read:

What Are Crypto Wallets?

What are Smart Contracts?

What is Bitcoin and How Does It Work?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.