See More

6 Best Toncoin (TON) Wallets in 2024

8 mins
Fact Checked
by Maria Petrova
Join our Trading Community on Telegram

Toncoin (TON) is the digital currency of The Open Network, a decentralized layer-1 blockchain initially developed by Telegram and later managed by an open-source community. TON facilitates transaction settlements and acts as a medium for exchanging value. In this guide, we dive into TON’s role in The Open Network, its inner workings, and the best TON wallets for safe storage in 2024.

Methodology

Best Toncoin wallets in 2024

1. MyTonWallet Wallet

Best feature
Cross-platform
Custody
Self-custodial
Wallet type
Software

2. Coinbase Wallet

Best feature
User-friendly interface
Custody
Non-custodial
Wallet type
Software
Best feature
Offline storage
Custody
Non-custodial
Wallet type
Hardware

4. OKX Wallet

Best feature
Advanced trading features
Custody
Non-custodial
Wallet type
Software

5. YouHodler Wallet

Best feature
Crypto loan approval
Custody
Custodial
Wallet type
Software

6. Bitget Wallet

Best feature
Futures trading options
Custody
Non-custodial
Wallet type
Software

Toncoin wallets compared

PlatformBest feature
Custody
Crypto wallet type
MyTonWalletCross-platformNon-custodialSoftware (Mobile/browser extension)
Coinbase WalletUser-friendly interfaceNon-custodialSoftware (Mobile/browser)
LedgerOffline storageNon-custodialHardware
OKX WalletAdvanced trading featuresNon-custodial
Software (Mobile/web extension)
YouHodler WalletCrypto loan approvalCustodialSoftware (Mobile/browser extension)
Bitget WalletFutures trading options
Non-custodialSoftware (Mobile/browser extension)

What is The Open Network? 

The Open Network (TON) is a decentralized blockchain platform initially developed by Pavel and Nikolai Durov, the brothers who founded Telegram’s popular messaging app. The platform was created to provide a scalable and user-friendly blockchain environment. It’s designed to offer fast and scalable transactions and advanced, user-friendly features to promote broader adoption of blockchain technology. As a multi-blockchain system, TON supports various decentralized applications (DApps) and smart contracts.

While the team behind Telegram originally developed the platform, it has since transitioned to an open-source approach and is now managed and enhanced by a community of independent developers. This ensures the platform remains decentralized and not under the control of any single entity. 

Toncoin at a glance

Toncoin (TON) is the native cryptocurrency of The Open Network. As the primary digital currency of TON, Toncoin plays a critical role in the network’s operations. It is used to facilitate transaction fees and as a means of exchange within the ecosystem. 

Additionally, Toncoin is instrumental in the governance of the TON network, enabling holders to participate in decision-making processes and contribute to developing and adjusting network protocols. This helps ensure the network’s decentralized nature while aligning its users’ interests with its growth and evolution.

TON price May 2023-2024: CoinMarketCap
TON price May 2023-2024: CoinMarketCap

Toncoin has a maximum supply of 5 billion. As of May 7, 2024, the cryptocurrency is trading at $5.82, with a market capitalization of $20,220,305,511, as per CoinMarketCap data. The crypto reached an all-time high on April 11, 2024, hitting $7.65. 

Interested in the price potential of TON? Check out our short and long-term price projection tool here.

Does TON have a future?

The future of The Open Network (TON) looks bright, thanks to its advanced technology and strong community support. In March 2024, the TON Foundation launched The Open League, a long-term incentive program for TON users, projects, teams, and traders. The project aims to distribute 30,000,000 Toncoin in three months, highlighting the network’s commitment to growth and community engagement,

The launch has thus far been a success, with a 70% increase in total value locked on its decentralized exchanges and a 370% surge in daily active addresses during the pilot phase. With high scalability, efficient transaction processing, and ongoing development, TON’s enhanced features may lead to wider adoption and new applications, cementing its long-term viability.

Choose the best Toncoin wallet for you 

When choosing a wallet for storing Toncoin, it is important to consider security, ease of use, and specific functionalities that align with your requirements. Importantly, always conduct your research to understand the nuances and updates associated with each wallet. Doing so can help you make an informed decision that best suits your needs in managing and securing your TON.

Frequently asked questions

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

ish_bautista.png
Ish Bautista
With over six years of Journalism, content, and editing experience, Ish boasts a diverse background. Previously, she lived in one of the world's startup centers: Tel Aviv. Ish has navigated the realms of crypto, Business Intelligence, publishing, and even gaming. You'll find Ish exploring new AI tools when she's not immersed in editing cypto and web3 pieces. She previously worked with crypto startups and holds a deep appreciation for the sustainability aspect of blockchain technology.
READ FULL BIO
Sponsored
Sponsored