Toncoin
About Toncoin
Toncoin is the indigenous cryptocurrency of The Open Network (TON). Originally a venture of Telegram, its development prevailed after Telegram withdrew due to regulatory hurdles. This change was spearheaded by autonomous developers who rebranded it as $TON. This shift, operated independently from Telegram, has positioned Toncoin as the pivotal component within the TON infrastructure, building on the foundational base established by founders of Telegram, Pavel and Nikolai Durov.
In the last hour, Toncoin's price has seen a change of +0.04%, and over the past 24 hours, its price has moved by -3.02%. Over the previous week, Toncoin's price has moved by -1.90%. The current price of Toncoin is OMR 0.6372, accompanied by a trading volume of 24.59M in the last day. Toncoin's price is currently 79.93% below its all-time high of OMR 3.1752, which remains the highest price Toncoin has achieved since its launch. The circulating supply of Toncoin stands at 2.686B, translating to a total market capitalization of 1.711B.
Market stats
Frequently asked questions
What is Toncoin?
Toncoin, or The Open Network (The Open Network) is a Layer 1 (L1) blockchain with the symbol TON. It is a scalable network designed to support millions of users, transactions, and decentralized applications. The network relies on a proof-of-stake mechanism, where validators stake TON tokens to secure the network and validate transactions. It is characterized by its ability to process a very large number of transactions in just a few seconds, making it suitable for payment use cases and large-scale applications. TON tokens are used on the network to pay transaction fees, bridge currencies, and participate in network governance, as well as to run services and applications within the Toncoin ecosystem.
How does the Toncoin network work?
The Toncoin network is based on Proof of Stake and uses a sharding architecture that allows the network to be divided into a number of sub-blockchains that are automatically created when demand increases, which increases scalability and maintains performance speed. The network is managed by a main chain that coordinates the work of all sub-blockchains, while validators secure the network and verify transactions in exchange for rewards. Toncoin aims to provide fast payments with very low and competitive fees, in addition to processing a large number of transactions in a record time of approximately 5 seconds. It also relies on the Toncoin Virtual Machine (TVM), which is fully compatible with the Ethereum Virtual Machine (EVM).
How do you buy TON on the Rain platform?
Buying TON on Rain can be done in a few simple steps:
- Make sure you have funds in your fiat account or your card is added in the payment methods section.
- Select the cryptocurrency you want to buy from the home or portfolio page.
- Click Trade and choose Buy.
- Enter the amount you wish to buy in your preferred fiat currency.
- Select your payment method, either by selecting your card or using the funds in your fiat account.
- Click Next to review your transaction details.
- Click Buy Now to complete the purchase.
TON will be added to your wallet after the transaction is executed. At Rain, we use cold storage to keep the majority of our clients’ assets offline.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulated framework for trading digital assets in the region.
What are the risks and considerations?
Before purchasing TON, it is important to understand the associated risks:
• Price volatility risk: the value of the token may rise or fall sharply.
• Governance and regulatory risk: the value of the token may be affected by legislation and regulation.
• Technical risk: the network relies heavily on Telegram’s user base, exposing it to risks associated with Telegram.
• Storage risks: you must protect your account with a strong password and two-factor authentication and choose an appropriate storage method after researching it thoroughly.
• Competition risks: the presence of many competitors, such as Ethereum and Solana, may affect its market share and growth
You should not buy TON based solely on price predictions. Instead, you should study the whitepaper, the coin’s use cases, the project, and your risk tolerance before making any decision.
Can TON be mined?
TON cannot be mined, as the coin relies on proof-of-stake rather than proof-of-work.
Does TON support smart contracts?
Yes, TON supports smart contracts.
Is TON associated with the Telegram app?
The project was launched by Telegram, but it is currently managed independently by the TON Foundation while continuing to collaborate with Telegram’s services and ecosystem.
How to invest in Toncoin?
Rain offers you a number of ways to start investing in Toncoin, including buying Toncoin through bank transfers or by using your bank card. To purchase Toncoin on Rain, you can select Toncoin in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy Toncoin with card?
Once you add your bank card to your Rain account, you can use it to buy Toncoin directly. You can start by adding your card to your payment options on your Rain account. To purchase Toncoin using your bank card, you can select Toncoin, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy Toncoin through bank deposit?
Rain enables you to buy Toncoin using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Toncoin. To do that, you can select Toncoin in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell Toncoin?
This is an easy process that requires only a few clicks. Here are the steps needed to sell Toncoin successfully:
On your Rain account, select Toncoin then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert Toncoin into cash?
Rain gives you the opportunity to sell Toncoin and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell Toncoin and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive Toncoin?
If you would like to receive Toncoin in your Rain account, simply click on Receive and select Toncoin from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving Toncoin to avoid possible loss of funds.
How to send Toncoin?
You can easily send your Toncoin from your Rain account to any external wallet by clicking on Send and selecting Toncoin from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy Toncoin with Rain?
When you buy Toncoin with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing Toncoin on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a Toncoin wallet?
A Toncoin wallet is where you can securely store Toncoin. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Toncoin address?
A Toncoin address is a string of unique characters that is tied to your Toncoin wallet. The address functions just like a bank account number and it is what you use in order to send Toncoin from your wallet, or to receive Toncoin to your wallet.
What trading pairs available for Toncoin?
There are over 200 currency pairs available on Rain for you to trade with. You can trade Toncoin with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap Toncoin with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy Toncoin?
You can trade Toncoin with any amount above $30 or equivalent in your account's currency. You can start trading Toncoin now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides Toncoin?
Besides Toncoin, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is Toncoin built on?
Toncoin is built on the TON blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my Toncoin safe?
To keep your Toncoin safe, make sure to use trusted wallets that support TON. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of Toncoin be in next 5 years?
Price predictions for Toncoin over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Toncoin taxable?
Trading Toncoin may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Toncoin's ATH?
Toncoin’s all-time high (ATH) was OMR 3.1752 on 15 Jun 2024. This represents the highest recorded market price of the asset to date.
What is the market cap of Toncoin?
With a market capitalization of 1.711B, Toncoin is ranked 21 among other crypto assets.
What is the all-time high of Toncoin?
The highest valuation of Toncoin since its launch was at OMR 3.1752, marking its all-time high.
What is the 24-hour trading volume of Toncoin?
The trading activity of Toncoin over the last 24 hours was at 24.59M, highlighting its liquidity in the market.
How many Toncoin are there in circulation?
There are approximately 2.686B units of Toncoin currently in circulation, affecting its market dynamics.
What is the relative popularity of Toncoin?
Toncoin market cap is around 1.711B.
Website
White paper
Source Code