How to Buy Telegram Coin (Toncoin) $TON in the UK

If you want to buy Toncoin in the UK, this is your final stop. Serving as the primary cryptocurrency for the layer-1 blockchain, The Open Network, Toncoin (TON) has become one of the most-traded crypto assets in recent times, thanks to its affiliation with the social media platform Telegram.

Toncoin is available on various centralized crypto exchanges like Bitget and OKX. These platforms allow you to buy TON using bank transfers, cards, crypto, and other channels. After purchasing your TON bags, you can safeguard your TON tokens on a secure wallet like the hardware wallet Ledger.

This guide discusses several options for buying Toncoin in the UK through a centralized or decentralized exchange. It also addresses various questions people have asked about the cryptocurrency. So, let’s dive right into the details.

How to buy Toncoin on CEXs in the UK: 5 Steps

Buying Toncoin through a centralized exchange is easy. So, here is a step-by-step process to acquire the crypto asset:

Step 1: Choosing a Safe Crypto Exchange

There are many options, such as Bitget, MEXC, and OKX. Because of their intuitive interface, these platforms are a go-to choice for many UK users. However, this article focuses on how to buy Toncoin in the UK using Bitget.

Step 2: Setting Up an Account

The first step to buying TON tokens is to set up an account. This entails registering an account on the exchange via web or mobile. You will submit your email and password and verify your email.

Step 3: Passing the Verification

Like most centralized exchanges, Bitget requires users to undergo a Know Your Customer assessment to verify their identity. This involves submitting their credentials to the platform.

Step 4: Deposit Funds

The next step is to deposit funds into your Bitget account. The exchange offers various ways to deposit funds, such as crypto deposits, credit/debit cards, peer-to-peer (P2P) trading, and third-party payment solutions like Swapple and Alchemy Pay. Considering UK users, the crypto exchange supports GBP deposits for certain crypto assets.

Step 5: Buy Toncoin (TON)

Navigate to the Trade section, select Spot, and search for TON-based trading pairs. These pairs include TON/USDC, TON/USDT, and TON/EUR. Choose your preferred pair, input the quantity you intend to purchase, review the transaction, and execute.

How to Buy Toncoin on DEXs in 5 Steps in the United Kingdom

UK users seeking a decentralized exchange (DEX) to buy the Toncoin asset can explore those that support the cryptocurrency or other wrapped versions of the token. Here’s how to buy Toncoin instantly using Uniswap:

Step 1: Setting Up the Crypto Wallet

Install a crypto wallet that supports TON or other wrapped versions like MetaMask. After downloading the non-custodial wallet via a web extension or mobile app, set up an account by tapping Create a Wallet. Back up and verify your 12-word seed phrases, which hold access to your wallet. 

Step 2: Fund Your Wallet

There is no direct Toncoin asset on MetaMask. However, you can purchase a wrapped version, which offers exposure to the digital currency’s price. Therefore, you can buy the native token of any blockchain that provides a wrapped TON, such as BNB, ETH, ARB, or POLY. MetaMask enables support for direct acquisition of these assets.

Step 3: Connect to a DEX

The next step is to connect your MetaMask wallet to a decentralized exchange like Uniswap.

Step 4: Choose Toncoin (TON)

Navigate to Uniswap’s swap page. On the section labeled Sell, fix the currency you initially bought and the quantity you intend to sell for Toncoin. In the Buy section, first, change the blockchain option to All networks. Then, search for Toncoin and select the wrapped TON compatible with the blockchain you are selling from.

Step 5: Execute the Swap

Review the transaction and execute the swap after fixing the amount you intend to purchase. You will be prompted to pay a specific gas fee, which can fluctuate due to network activities at the time of trade.

4 Additional Ways to Purchase TON in the UK

There are several ways to purchase Toncoin in the UK besides CEXs or DEXs. These include:

• Use of Debit/Credit Card: Many global and European-based exchange platforms and brokers like Uphold support Toncoin and accept payment using cards like Visa, Mastercard, etc., making it easier and more convenient for users to access the token.
• P2P Trading: Platforms like Bitget P2P feature and others allow users to buy and sell Toncoin via peer-to-peer transactions.
• Crypto Wallets with Inbuilt Exchange Features: Some crypto wallets have exchanges that allow users to swap from other tokens or crypto stablecoins to TON.
• Third-Party Services: Services like BitPay and MoonPay allow users to purchase crypto and transfer it to a wallet. Meanwhile, many crypto platforms enable deposits using Google Pay.

3 most secure wallets to store Toncoin

Many crypto investors have lost huge amounts to security breaches and individual wallet hacks. Thus, it is essential to choose a secure wallet to avoid falling victim to exploiters.

Below are three recommended wallets for storing TON:

Ledger

Ledger Wallet is a popular and efficient hardware crypto wallet designed to securely manage and protect multiple crypto assets, including Toncoin. Its variant security features, including physical security and offline storage, make it the best choice for storing TON.

Tonkeeper

Tonkeeper is a digital crypto wallet for the TON blockchain. It is designed to store, send, and receive Toncoin and other crypto assets built on the TON network.

Telegram Wallet

Telegram Wallet is a built-in crypto wallet on the Telegram social media app, allowing users to store Toncoin and other TON-based crypto assets directly within the app. It is built with robust security measures to ensure funds’ security.

What fees and limits are associated with buying Toncoin?

The fees and limits associated with buying Toncoin vary from platform to platform. Below are the types of fees applicable to CEXs, DEXs, and Wallets:

• Exchange Fees

Crypto exchanges charge a fee for buying and selling crypto assets like Toncoin. These fees may vary based on factors like the platform, the size of the transaction, and the type of transaction.

• Withdrawal Fees

Various crypto exchanges charge fees for depositing or withdrawing assets. Users may pay a fee to deposit when buying an asset through bank transfer or credit/debit cards. Users must pay a fee for withdrawals through on-chain transactions or fiat currencies. There are also fees tied to P2P services.

• Network Fees

Network fees are akin primarily to DEXs and Wallets. However, CEXs may also impose a network fee when enabling on-chain withdrawals. These network fees (or transaction fees) are minimal fees paid to the blockchain’s miners or validators to process the transaction.

3 Security Tips for Buying and Storing Toncoin

Security is an essential aspect of crypto investment, as lots of funds are lost in the industry daily due to ignorance and insecurity. Thus, this section mentions a few tips to consider when investing in Toncoin and other crypto assets.

• Use Secure Exchanges: When purchasing any crypto asset, including Toncoin, it is best to use reputable and secure exchanges like Bitget, MEXC, or OKX. These exchanges have existed for years and offer more asset security than rival crypto exchanges with less liquidity and reserves.
• Store in a Secure Personal Wallet: To protect yourself from hackers, safeguard Toncoin in a reputable hardware wallet like Ledger or a software wallet like Tonkeeper or Telegram Wallet. Additionally, ensure secret phrases are safe.
• Be Alert: The crypto industry is plagued by phishing scams and fake websites. Therefore, verifying URLs and avoiding connecting Toncoin-holding wallets to random, untrusted websites is best.

FAQs

How is Toncoin connected to Telegram?

Toncoin’s origin is deeply intertwined with Telegram. Between 2017 and 2018, the Telegram team began exploring the creation of a layer-1 blockchain network for its users. This birthed the Telegram Open Network (TON) and the native token, Gram. However, the blockchain project was discontinued in 2019 after a legal dispute with the United States Securities and Exchange Commission (SEC) under the claim that Telegram offered unregistered securities to investors.

Fast-forward to 2021, the TON Foundation revived the project and launched Toncoin. Months later, Telegram incorporated Toncoin and the underlying blockchain into its services. Today, many Telegram mini-apps employ the TON blockchain as their native blockchain.

Is it legal to buy Toncoin in the UK?

Yes, buying Toncoin in the UK is currently legal. No UK financial laws prohibit the acquisition of the digital asset. However, staying updated about potential amendments to these regulations is crucial, as they may affect how Toncoin is traded in the future.

Do I need to verify my identity to buy TON?

You must verify your identity to buy TON coins using a centralized exchange like Bitget, OKX, or MEXC. However, you will not need to submit your credentials using a decentralized exchange like Uniswap. Still, using the latter requires technical expertise.

What is the fastest and easiest way to buy TON in the UK?

The fastest and easiest way to purchase TON in the UK is through CEXs like Bitget, OKX, and MEXC. Some of these platforms allow you to buy TON for GBP. They also enable users to buy Toncoin with debit or credit cards.

Conclusion

Buying Toncoin in the UK is straightforward, as this guide outlines. This article explained how to buy tons of the Telegram-affiliated currency through CEX, DEX, and other third-party channels. Whichever of these options you follow, ensure you always do adequate research to make well-informed financial decisions.