What is Toncoin (TON)?
Toncoin is the native token of the The Open Network (TON) layer-1 blockchain. The Open Network is supported by numerous contributors, the biggest of which is the TON Foundation. Originally, TON Blockchain was planned to be a project of the popular messaging app, Telegram, but after receiving a court order from the US Securities Exchange Commission (SEC) in 2020, Telegram departed the project. TON Blockchain uses a proof-of-stake consensus mechanism and techniques like sharding and segmentation to allow it to process transactions with increased speed and throughput.Toncoin is offered on various networks, however Coinsquare only supports native TON on the TON Blockchain.
How to buy Toncoin (TON)?
Here's how to buy Toncoin on Coinsquare
To buy Toncoin, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying TON. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select TON from the list on the trade section
Coinsquare lets you trade TON without leaving the app. You can also check the Toncoin price and convert TON to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the TON price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Toncoin (TON)
Congratulations! You’re now the proud owner of TON. You can either HODL or use it to exchange TON to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Toncoin (TON)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Toncoin (TON) to your portfolio?
Create your account, fund it with spare change and get a little bit of TON.
