5 crypto wallets that support the TON blockchain

TonCoin (TON), a cryptocurrency associated with The Open Network and nicknamed Ton, has exploded in popularity this year.

Toncoin has become one of the 10 largest cryptocurrencies with a market capitalization of $13.4 billion.

There are currently 2.5 billion coins in circulation worldwide, and the total supply of the cryptocurrency is 5.1 billion. In the last nine months, the price of Toncoin has increased by around 150%.

There are tons of wallets that support it, each with its own unique features. Some are custodians and focus on convenience and ease of use, while others give users full control over cryptocurrency.

There are simple wallets with a minimal set of functions, more complex options such as wallets, and reliable solutions for long-term storage.

Wallet

Since TonCoin is a product of the Ton Network – a blockchain initially powered by the messaging app Telegram – naturally wallet users can access it directly within Telegram.

This wallet, the Telegram Bot Wallet, can store, exchange and trade tokens on a peer-to-peer marketplace. However, it only supports a few currencies: Toncoin, Notecoin (NOT), Bitcoin (BTC), DOGS and USD.

Users can exchange stored cryptocurrencies and exchange them at current market rates. There's also a full peer-to-peer marketplace where traders can buy and sell fiat coins, though it's only available on the desktop or mobile versions of Telegram.

The wallet is a centralized solution, so it does not give users their private keys. This approach is convenient for novice traders but less secure.

According to Chris Varley, editor at crypto analytics platform DropsTab, “Keeping Toncoin on a Telegram bot is not the most secure way. Bots are custodians, which means you trust them with your keys. If the bot is hacked or taken down, you may lose your money.

The wallet has a limited range of actions based on the user's authentication level. The “Basic” level, the default level, has a monthly limit of €35,000 (about $39,000) on revenue transactions and P2P trading volumes.

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The “extended” level increases these limits to 1 million euros ($1.1 million) per month. To activate this level, users must provide their national ID.

The “advanced” level removes all restrictions, but users must provide documents that prove their residential address.

Ton keeper

Tonkeeper is a simple cryptocurrency wallet that supports Ton blockchain tokens. It can hold Toncoin, Notcoin and other tokens based on Ton.

The wallet is non-custodial, meaning users manage their own key phrase. Tonekeeper has desktop and mobile versions, plugins for Chrome, Edge and Brave browsers, and a Telegram bot.

Users can buy cryptocurrencies with fiat money using partner services.

The wallet allows users to share Toncoins, with a minimum balance requirement of 2.2 tons.

Sefpal

Hardware wallets generally provide the most secure long-term storage solutions for cryptocurrencies, and Toncoin is no exception.

SafePal is a secure and versatile wallet designed to securely manage cryptocurrencies including Toncoin.

The SafePal S1 wallet features advanced security features such as EAL5+ secure member chip, random number generator and air gap signature mechanism. These features keep private keys offline, protecting them from online threats.

Key features of SafePal include support for multiple cryptocurrencies, convenient integration with Binance for spot trading, and a simple interface. Wallets allow users to manage, exchange and trade assets.

SafePal's combination of security, functionality and ease of use makes it popular among cryptocurrency users.

Tonhub

TonHub is a non-case wallet with mobile and browser versions. It offers complete anonymity without requiring registration or a user account. TonHub has several additional features to protect users' assets, including PIN code and biometric login.

One of the main advantages of TonHub is its compatibility with any other crypto wallet based on the Ton blockchain.

Along with basic functions like storage and transfers, TonHub allows users to trade cryptocurrency with different pools. The application also includes a web 3 browser.

However, some users have complained about recurring problems with app updates and occasional crashes.

Open the mask

OpenMask is a browser plugin that supports tons of tokens and provides an unbreakable cryptographic token.

OpenMask is fairly straightforward. Users can store Toncoin, receive and send crypto, and buy and exchange cryptocurrencies. The exchange operations are performed by partner services such as DeDust, Ston.fi, StealthEX and ChangeHero.

The wallet supports Web3 by interacting with smart contracts and connecting decentralized applications.

Despite its ease of use, OpenMask has some drawbacks, such as regular app crashes, sudden reboots, and frequent problems with integrating a ledger hardware wallet.

Which bag to choose?

All the above wallets offer users a certain measure of security and a wide range of additional functions.

If security is a priority, a non-casual wallet is the best choice. If convenience and user support are more important, a wallet may make more sense.

Absolute beginners who are intimidated by the technical bells and whistles of a typical wallet app may find Telegram's native wallet makes a lot of sense.

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Keep in mind that wallets can be more vulnerable to hacking, so it's important to use trusted and tested services. Non-holder wallets are more secure but require a higher level of responsibility.

Experienced users keep long-term cryptocurrency investments in hardware-based non-custodial wallets and use exchange and escrow services for day-to-day transactions.