The term ‘Blockchain’ and ‘decentralization’ are the core concepts defining the crypto community. Interestingly, many entities have tried leveraging the concepts for their profit. Talking of one initially failed attempt, we have the Telegram Open Network (TON) that aimed at redefining the Blockchain platform with its innovative approach.
The project was launched to process billions of transactions in real time. In addition to facilitating the creation and execution of smart contracts and the deployment of decentralized applications, the platform also facilitates the swift and safe transfer of digital assets between users. Interestingly, many investors have come up with a renewed interest in buying TON because of its large user base and the possibility of the platform disrupting the existing banking and financial services business.
But how do you invest in TON as a beginner? More importantly, does it has a secure future? Let’s find out as we explore the different aspects of investing in TON in the following sections of the blog.
But, What is TON?
The project TON leverages the concept of Blockchain and decentralization in one of the unique ways possible. It targets the possibilities of secure transactions over a scalable network. Interestingly, the idea behind the project came from Telegram, as they wanted to develop their Blockchain network in 2018.
However, the SEC (US Securities Exchange and Commission) put a hold on their plans in March 2020. Following this announcement, the platform eventually gave up on its idea. Instead, two developers, Anatoliy Makosov and Emelyanenkok, took over the project.
This is where TON has remodeled itself as ‘Newton,’ an open-source community for crypto transactions. The concept was later renamed ‘The Open Network‘ (TON) Foundation. As per its whitepaper: TON is a fast, secure, and scalable, Blockchain network project that simplifies transactions without adding extra costs to the process.
So if you’re a beginner looking to invest in the TON token, this could be the blog for you. Continue reading as we explore the different aspects of the token in the following sections of our blog. But first, let’s focus on how to invest in TON as a beginner.
How To Invest In Telegram Open Network (TON) – A Quick Tutorial
Being a fresher, you’re bound to be confused with the different steps involved in purchasing TON tokens. So to help you better, we’ve streamlined the entire process in a quick tutorial. Let’s check it out:
- Choose A Reliable Exchange: The first step to investing in a TON token is registering yourself with an established broker. A broker or a crypto exchange is your gateway to securing transactions over the Blockchain network. Once signed up, you’ll also have a crypto wallet to store your tokens.
- Deposit Funds Into Your Account: You must deposit trading after opening an account and validating it. A bank transfer, credit/debit card, or e-wallet might do this.
- Purchase Ethereum: To purchase Ethereum, you must first log in with your Crypto Wallet and then navigate to the Buy & Sell crypto page. After entering the quantity of Ether that you wish to acquire, click the Buy button after you have completed the processing of the payment, head on over to your registered exchange, and look for the Ether that you purchased.
- Invest In TON Token: Being an actively traded token, you can easily find the TON token in any established crypto exchange. So once you reach the marketplace of your registered exchange, look for TON tokens and swap with either fiat, USDT, or ETH tokens.
Unique Fundamentals Of The TON Token
Every token has different characteristics and functions. It’s interesting to note that there are only so many tokens on the market with specific functionality in mind. Today, practically every other token may be utilized in various ways because of the need for usefulness, and TON is no different.
So to help you better, we’ve listed some unique fundamentals of the TON token in the following section:
TON Is Constantly Evolving
Since Toncoin is a constantly evolving token, the project will advance in step with adjustments made to the Blockchain ecosystem. Therefore, this special fundamental will impact the token’s existence on networks like Web 3.0, and in all the next new economies.
Every time a user chooses to perform on-chain transactions using smart contracts, the token already pays a commission. This enables the payment of services using various applications available throughout the network. In addition, TON also lends money to its nominators in exchange for a portion of the awards.
TON’s Blockchain Is Highly Scalable
Its unique Blockchain network is another factor that essentially defines the TON network. It is designed to be a fast, secure, and scalable network that gives businesses access to faster transactions at little to no additional costs.
What’s more? The TON blockchain modifies the proof-of-stake consensus algorithm, making it possible for transactions to be validated promptly and effectively. This way, it becomes an accessible medium for business owners to expand their operations without worrying about the costs or scalability of their transactions.
Access To Passive Income
One unique idea that nowadays distinguishes tokens is their added usefulness. Similarly to that, TON offers users the chance to generate passive money. Anyone using the TON network can join to get paid as a validator in Toncoin.
Participants must stake a sizable quantity of Toncoin (600 000 TON) to qualify as validators. They will also need access to devices with high performance and a highly accessible network. After verifying all requirements, validators are given a specified amount of time to stake their Toncoin before having their stake returned with interest.
Is TON A Good Investment?
The TON coin has been a part of the market since 2020. Initially launched for $0.72, it is one of the fastest-growing tokens that the market has come across. The project was able to catch the eyes of the investors early on, primarily for its scalability and seamless operations, and expand up to 4x within a year during a bullish phase.
The project aims to be like the Ethereum network and has by far been able to give it a good start. However, its price movement alone isn’t a factor determining whether you should be investing in the token. So let’s look at some factors that could help define the investment opportunity in our case study.
Performance Since Launch
Before its launch in 2020, TON held an ICO (Initial Coin Offering), allowing it to raise the necessary funds to initiate the project. Here’s a highlight of the token’s short but comprehensive overview:
- TON’s ICO raised $1.7 billion in two pre-sale stages.
- At the time of its launch in 2020, the token was listed for $0.72.
- Fast forward to a few months after its launch, TON was able to scale up to its all-time high range of $4.
- In just two years of its listing, TON has generated over 250,000% in gains.
Overall, TON has been a premier industry performer, giving its investors scalable returns since its ICO.
Many investors consider TON to be limited as a payment processor. However, that’s not all! As per its whitepaper, TON is intended to be a multi-Blockchain platform. Therefore, it will have the capacity to support a wide variety of decentralized applications (dApps) and smart contracts.
Additionally, its architecture will consist of multiple Blockchains, such as master chain and work chain. This will make it possible for users to transact in digital assets and help them deal with different digital assets.
A form of payment for goods and services and a store of value, TON was created to be used in both capacities. It is a payment that may be used to make purchases on Telegram and other websites and apps. In addition, similar to other cryptocurrencies, TON can be traded on exchanges where digital assets are bought and sold.
How To Sell TON And Cash Out
Buying and selling TON tokens is like two sides of the same coin. You can sell the token in the opposite order of how you purchased it. All you need to do is fill a “sell” order on your registered exchange.
Alternatively, you can exchange TON for USDC or USDT. Additionally, if you have saved the tokens in cold storage, you must move your money back to the exchange.
Is It Too Late To Invest In TON? – BG’s Case Study
The TON project was only launched in 2020. Comparatively, it is a very new project in the market and has several years to achieve its prime stage. However, the token has been great, especially in terms of price movement since its launch. In two years, the token has jumped from $0.72 to $2.13, securing the #25th rank per its market capitalization.
Looking at our token’s price movement since August last year, it’s evident that it has been bullish, with $2 as its upper ceiling or resistance line. However, there were some major price corrections for the token during the final few weeks of 2022, as depicted in the chart below.
Considering the price movement over a short time frame, it’s evident that the TON coin was able to attain a breakthrough from its $2 resistance line. Fast forward to the first week of 2023, the token continues to be above the $2 range, showing a strong uptrend for the coming months.
Overall, looking at the token’s movements, our analysts at Blockchain Gossip are mostly optimistic about the coming months for the project.
Note: It can be challenging to project long-term growth for any token. So while we can always analyze and predict the possibilities, it’s only reasonable to do your research before investing in any token.
Should I Invest In TON Token?
The TON team is formidable, and the technology and user base are robust and expanding. The project’s intended function as a distribution medium for exchanging information and conducting transactions also merits attention. Every investor must think through the pros and cons for himself.
However, TON and the Blockchain it relies on may be subject to technological, legislative, and market-related threats due to the novelty and unproven nature of the technology. Therefore, always invest with proper knowledge. All the best!