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.
Where do I keep my Toncoin (TON)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely. There are different storage options available for your cryptocurrency, your choice should ultimately be the one that suits your needs. Mobile and web wallets can make transactions easy as the currencies are accessible directly from your phone or device, whereas hardware wallets are best suited for secure, long-term storage as they eliminate the vulnerability found in online environments.
Ready to add Toncoin (TON) to your portfolio?
Create your account, fund it with spare change and get a little bit of TON.
