How To Buy Wrapped Ton Crystal?
TON (The Open Network) is a community-driven blockchain project enabling dApps with rapid and secure global transactions. Its native token is TON Crystal, which acts to pay transaction fees and suggest votes and governance proposals. Since it has gained popularity since its inception, investors need to know how to buy wrapped Ton crystal.
Key Takeaways
- Wrapped Ton Crystal (wTON) is an Ethereum-based community-driven project aiming to increase transaction speed and improve security.
- To buy Wrapped Ton, users need an account with a crypto exchange and trade Ton with Bitcoin or Ethereum.
- wTon is available with all major crypto exchanges like Coinbase and MetaMask.
TON is a project of the team who had launched the popular encrypted messaging application – Telegram. However, Ton’s team had to abandon this project after the intervention of the Securities and Exchange Commission in May 2020.
However, a passionate community brought the Ton back to life and resurrected the project as DAO, with the core of the project remaining the same.
Ton is now widely accepted across the entire Ethereum-based DeFi ecosystem as wTON.
Let us move forward and learn – how to buy wrapped TON crystal.
Step-by-Step Guide to Buy Wrapped Ton Crystal
Let us now move on and learn about Ton coin POS (point of sales). Although it is straightforward, it needs in-depth analysis to make the right choice.
- Step 1: Selecting an Exchange
Firstly, you need to select a crypto exchange dealing with Ton coin. Luckily, almost all major platforms are trading in Ton, so this selection should be fine for you.
However, you must consider the points below before selecting any exchange, as these will help refine your decision process.
- Check whether your shortlisted crypto exchange supports trading of Ton coin or not. Because exercising account opening activity with a platform that does not accept Ton coin will waste your time and effort.
- The next point to consider in any exchange is to check its commission fees. Try to select the one which has minimum charges.
- Another critical factor is to check which crypto exchange accepts a maximum number of cryptocurrencies. The more significant number of supported tokens, the better the platform is for selection.
- Security is another major factor of consideration before opening an account.
- Lastly, check whether the exchange has a storage facility; an exchange offering a storage option is better.
- Step 2: Opening an Account
Once you select a crypto exchange, you must open an account. The account opening procedure is not complicated and is similar to opening an account with a traditional bank.
However, a few platforms only require your email address to set up your account. Contrarily, famous venues need clients to go through a KYC (Know-Your-Customer) detail, where new customers must provide the following information.
- Name
- Address
- Email address
- Phone number
- Social security details
Step 3: Fund Crypto Account
Unfortunately, you cannot purchase Ton coin directly with fiat money like USD, EUR etc. So, how to buy wrapped Ton crystal? You need to fund your newly opened crypto account.
Top crypto exchanges accept payments through different sources, including the following.
- Direct bank transfer
- Debit Card
- Credit Card
- PayPal
We recommend using direct bank transfer as it takes less time and carries fewer bank charges. Contrarily, credit card payments are the most expensive mode of payment. It is because banks treat such payments as cash advances and hence charge high APR.
As there is no free Ton, try to minimize your cost and utilize these savings to buy Toncoin.
- Step 4: Buy Intermediary Cryptocurrency
Once you have transferred funds to your account, you need to purchase an intermediary cryptocurrency (which you further use to fragment Ton coin). Generally, users will buy either Bitcoin or Ethereum.
Unfortunately, Wrapped Ton Crystal is not directly available for purchase; therefore, investors need these cryptos to proceed.
- Step 5: Purchase Wrapped Ton Crystal (WTON)
So, now you are all set to buy WTON using Bitcoin or Ethereum, which you purchased in step 4.
You can visit your exchange’s website or mobile app and start buying. It is reasonably straightforward; you can find a Buy button on the screen, click it, enter the amount of WTON you want to purchase and click the Buy button. After that, you will confirm the transaction and receive your tokens.
One important thing to consider is carefully selecting the Ton contract address; otherwise, your transaction will not get through.
You are now the proud owner of WTON, and you can also get a Toncoin payout by using the Sell button on the exchange.
- Step 6: Storing Wrapped Ton Crystal
The last step is to store your newly purchased coins. Almost all crypto exchanges offer storage facilities so that you can hold your coins with the exchange. Moreover, you can transfer these to your hard wallet and carry them home rather than leaving them with the broker.
There are two main types of wallets,
1. A hot wallet is always connected to an active internet connection. Usually, crypto trading platforms offer this type of wallet.
2. On the other hand, a cold wallet is a hardware USB-like product where you can store your cryptocurrency. These are only connected to the internet when you intend to make a transaction and are expensive compared to hot wallets.
Frequently Asked Questions
How much is a Ton of Crystal worth?
1 Ton crystal is worth $2.08377616.
How does Ton coin mining work?
Ton uses a proof-of-stake mechanism; thus, particular nodes are required to ensure the network works.
Does Wrapped Ton Crystal have a future?
The crypto market is highly volatile; hence, predicting any particular coin’s future with surety is a tricky question. However, experts have a positive tip for WTON.
Parting Thoughts
With that, we conclude – how to buy Wrapped Ton Crystal discussion. As you have seen, buying WTON is a straightforward task. Investors can quickly get their hands on this token.
All you require is an account with a crypto exchange, fund it with Bitcoin or Ethereum, and then buy WTON using these currencies.
Despite turbulence and uncertainty around the crypto trade, investors are interested in buying WTON. Likewise, many experts suggest that it has a promising future as it acts as a bridge enabling Ethereum blockchain for fast and secure transactions.
However, run a risk assessment strategy and seek professional advice before investing in Ton coin Metamask.
Leaving you with the best of luck with your trading adventure in Ton Crystal and anticipating feedback on this article.