What are the formal channels for buying TON coins? Detailed explanation of TON coin purchase channels

TON coins, the native currency of the Telegram Open Network, can be purchased through formal channels like Telegram's integrated wallet, centralized exchanges (e.g., Huobi Global, MEXC Global, Bitforex), and decentralized exchanges (e.g., PancakeSwap for TON Crystal).

Oct 05, 2024 at 10:53 am

Formal Channels for Buying TON Coins

TON coins, the native currency of the Telegram Open Network, can be purchased through several formal channels. Here's a detailed explanation of each channel:

1. Telegram's Built-In Wallet

• In September 2023, Telegram integrated a non-custodial wallet into its messaging app.
• Users can purchase TON coins directly within Telegram using their credit cards or Apple Pay.
• The process is straightforward and requires linking a bank account or debit/credit card to the Telegram Wallet.

2. Huobi Global

• As of October 2023, Huobi Global is the largest centralized exchange where TON coins are listed for trading.
• Users can buy TON coins against Bitcoin (BTC), Ethereum (ETH), or Tether (USDT).
• Huobi supports various payment methods such as bank transfers, cryptocurrencies, and credit/debit cards.

3. MEXC Global

• MEXC Global is another prominent centralized exchange that allows TON coin purchases.
• It pairs TON coins with BTC, ETH, and USDT.
• MEXC offers a range of payment options, including cryptocurrencies, debit/credit cards, and third-party payment gateways.

4. Bitforex

• Bitforex is a centralized exchange that offers a wide selection of cryptocurrency trading pairs, including TON/BTC and TON/USDT.
• It supports several fiat currency deposit options such as USD, EUR, and GBP.
• Bitforex charges relatively low trading fees compared to other exchanges.

5. PancakeSwap (for TON Crystal)

• For users who prefer decentralized exchanges, PancakeSwap can be utilized to purchase TON Crystal (TONC), a wrapped version of TON coin.
• TONC is paired with BUSD on PancakeSwap.
• However, users should note that converting TONC back to TON requires a cross-chain transaction and may incur additional fees.