TON Crystal is the fuel of the Free TON Ecosystem. Free TON is a peer-to-peer multi-blockchain platform built on the TON protocol that was developed by Durov Brothers and the Telegram team.
The project was launched on 7th May 2020by the Free TON Community that consists of over 7,000 companies and crypto-enthusiasts. The most remarkable representatives of the community are TON Labs, Dokia Capital, Bitscale Capital, Everstake, KUNA, Cex.io, and many other big players in the crypto industry.
The main difference between TON Crystal and other coins like BTC or ETH is that TON Crystals are not sold but distributed among participants based on their contribution to the network development.
Why was Free TON created?
A reason for creating Free TON was the refusal of Pavel Durov to launch the TON blockchain platform (Telegram’s cryptocurrency project).
The Declaration on Decentralization (DOD), which is actually the whitepaper of the Free TON project, says that Telegram can no longer participate in the development of TON due to litigations with SEC (the USA Securities and Exchange Commission). However, the TON ecosystem already has millions of code lines created by developers, and this enormous work must not be wasted, the paper says.
The only users, who cannot yet sign the declaration, and, therefore, use Free TON, are US residents. The community assumes that after achieving full decentralization, American partners will also be able to participate in the project.
Are TON and GRAM the same thing?
Investors who sponsored Pavel Durov’s Telegram Open Network project will not receive TON Crystal. The Free TON platform is an open-source project that is only based on the TON code and has nothing to do with investments in Telegram.
Members of the Free TON project claim that they are not associated with the affairs of Telegram Group Inc., even though the platform is based on a protocol developed by Nikolai Durov. Thus, the Free TON community has nothing to do with both Telegram and legal cases against the Telegram Open Network initiated by the US authorities. GRAM (a supposed cryptocurrency of Telegram) was regarded as an investment contract that violates the US securities law, and the issue of GRAM was prohibited by a decision of the Court of the Southern District of New York (USA).
What Makes Free TON Unique?
- Free TON is a user-friendly blockchain ecosystem with a ready-to-use SDK. Free TON has a relatively low entry threshold. Working with the platform does not require highly specialized knowledge and skills from developers: for example, the platform allows you to write smart contracts in C ++.
- It is by far the fastest blockchain platform in the world (more precisely, the platform with the highest bandwidth). The developers state that Free TON is architecturally designed to process 1 million transactions per second (TPS). For comparison, VISA can only handle 1700 transfers per second.
- Unlike Bitcoin, TON Crystals are distributed for contributions to the ecosystem. Using the Soft Majority Voting mechanism, 85% of coins will be distributed among users and sponsors, 10% will go to developers, and 5% will be given to validators. The current circulating supply is 5 billion tokens, but this amount will increase by 2% every year. You can join the Free TON community to get your TON Crystal. Tokens can be earned through participating in various contests and bounty programs, becoming the network’s validator, or proposing upgrades and improvements to the platform. You can also purchase TON Crystal through appropriate services like exchanges.
TON Price, Market Cap, and Trading Statistics
According to coinmarketcap.com, the TON Crystal price at the time of writing is $0,33 USD with a 24-hour trading volume of $4,749,929 USD. The current market cap of TON is $143,363,130 USD. It has a circulating supply of 426,891,930 tokens and a maximum supply of 10,000,000,000 tokens. TON Crystal’s rank with CoinMarketCap is #2591. More information on TON Crystal price news can be found at https://toncommunity.org/.
How and where to buy TON Crystal?
Beginner traders may be intimidated by a perspective of purchasing TON Crystal without thorough preparation. Brokers, exchange rates, transfers, commissions, crypto wallets – at one moment, you may think you have too much on your plate and get totally lost at where to start. Things are much easier when you have a solution that is made with your convenience in mind.
Crypterium is your door to the space of cryptocurrency trading. Meant to address all your crypto-related needs, Crypterium is essentially a mobile cryptocurrency wallet with vast functionality. Optimized for both iOS and Android screens, this nifty app allows you to buy TON Crystal (as well as a dozen of other popular assets) with your bank card. Just follow these simple steps to purchase TON Crystal for fiat:
- Download the Crypterium Wallet on your smartphone or tablet, or, go to the Crypterium website if you prefer a browser experience. Create an account with the platform. It only requires entering your phone number.
- Now log in to your Crypterium account and navigate to the “Buy Crypto” Section.
- Select the desired coin from the list of available assets. It can be TON Crystal or any other altcoin or stablecoin like Bitcoin or Ethereum.
- Enter the amount of fiat money you want to spend on TON Crystal. Or, you can type the amount of tokens you want to receive. All calculations will be done automatically, and at a great rate. Crypterium is equipped with an innovative AI-powered bid-ask matching system that is integrated with the world’s 10 biggest cryptocurrency exchanges, allowing you to purchase cryptocurrencies at a very attractive price.
- If transaction details seem correct, proceed with inputting the details of your bank card, including card number, cardholder’s name, expiration date, a CVV code.
Crypterium allows you to buy TON Crystal with a bank card. The minimum purchase can be as small as 2 EUR – this is the smallest entry threshold currently available in the cryptocurrency market. Purchases below 250 EUR incur a 2% fee, but that fee is reduced to 1% when you spend more. As a welcome, non-obligation bonus, Crypterium charges a zero commission for your very first fiat-to-crypto purchase.
Where else can you buy TON Crystal?
There are other ways how you can purchase TON Crystal online, for instance, through cryptocurrency exchanges. The most reputable names in the industry are Bitcoin.com, Hotcoin Global, HitBTC, Changelly PRO, and Coineal.
These brokers allow you to purchase cryptocurrencies for fiats like EUR, GBR, and USD as these platforms accept card and wire transfers. Bear in mind that these platforms may not offer you the possibility to buy TON Crystal for national money right off the bat. You may first need to buy some popular stable- or altcoins like BTC, ETH, or LTC for fiat and only then trade your assets for TON Crystal.
It is not always possible to purchase TON Crystal with a credit card. However, certain operators like Bitcoin.com allow for purchasing popular cryptocurrencies with a credit card and then trading these tokens for TON Crystals.
Surely, if you already own some cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH), you can trade them for TON Crystal on an exchange of your choice.
Where to store TON Crystal?
Your TON holdings will be kept in your inner wallet of the platform where you bought them. For instance, if you use Crypterium, your TON Crystals will be stored in your TON Crystal wallet that the app will automatically generate at the moment when you first purchase that crypto. Surely, you can move your assets to another place.
Apart from Crypterium, there are other ways where you can store TON Crystal.
The creators of TON Crystal have developed a universal wallet TON Surf that combines the properties of a blockchain and a private messenger. The tool is available for web platforms as well as iOS and Android devices.
TON Crystal Wallet from Broxus is compatible with Windows, Linux, and MacOS computers. Its functionality is quite scarce, allowing you only to:
- Send and receive TON Crystal transfers,
- Earn TON Crystals by investing tokens in staking.
It is not possible to trade TON Crystals for other cryptocurrencies within that app.
Unfortunately, lauded hardware wallets like Trezor or Ledger do not currently support TON Crystals.
As you see, purchasing TON Crystal is not rocket science when you have a reliable dealer and, at least, 2 EUR. If you do not want to merely purchase and sell coins, but use them to the fullest, including cashing out your digital funds to your bank card, withdrawing crypto in ATMs worldwide, taking loans against your tokens, and even earning interests on your virtual capital, Crypterium is your way to go.
This article is for information purposes only. Do not rely on it as investment advice, financial, or trading advice. Make your own research before you buy or sell any virtual asset.