TON (The Open Network) is a blockchain platform that attracts users with its scalability, transaction speed, decentralization, and minimal fees. Integration with Telegram has given TON a significant user base.
Interest in cryptocurrencies, including Toncoin, is growing in Nigeria. This is due to economic instability and limited access to traditional financial services. Some Nigerian companies have already integrated Toncoin into their payment systems, making TON more accessible to users in the country. The Nigerian TON community on Telegram now has over 10,000 members.
A wallet for Toncoin (TON) is an essential tool for the secure storage, sending, and receiving of cryptocurrency. It provides the user with a unique address and private keys to access and manage tokens. When it comes to choosing the best storage for TON, it is crucial to understand the difference between custodial and non-custodial wallets.
Custodial and Non-Custodial Wallets
In custodial wallets, private keys are stored on a third-party service. This provides the user with quick and convenient access to assets via an application or website. Major and reputable platforms, such as cryptocurrency exchanges, can offer a high level of security and impeccable customer service. However, such crypto wallets do not give the user full control over the keys. In theory, tokens could be lost if the service is hacked or goes bankrupt.
A non-custodial wallet allows the owner to have full control over the keys. The user becomes independent of third parties, enhancing the level of privacy. However, the user is solely responsible for the security of the keys, and in case of their loss, access to the cryptocurrency can be extremely difficult to restore.
We have compiled several wallets of different types that can be considered the best for storing TON tokens. Each offers advanced solutions for managing crypto assets.
Cropty Wallet
A custodial wallet that represents a multifunctional, convenient, and secure platform for token holders, offering numerous features such as multi-network support, automatic cryptocurrency conversion, and 24/7 support. Additionally, TON can be used in the app as collateral for obtaining cryptocurrency loans. The user can pledge their tokens and receive a loan in another cryptocurrency, such as USDT.
Features:
- The wallet has a simple and intuitive interface, making it accessible even for newcomers to the crypto industry. Users can easily manage their assets, perform transactions, and monitor their portfolio in real-time;
- The app is available for iOS and Android;
- Private keys are stored locally on secure media, enhancing the level of security and control over funds. The wallet also supports two-factor authentication, providing an additional layer of protection;
- The wallet supports many popular cryptocurrencies, including Bitcoin, Ethereum, and others, allowing for convenient management of all assets in one place;
- In the app, users can easily convert tokens between different blockchain networks, making the management of crypto assets more flexible and convenient;
- The development team provides round-the-clock support to resolve any issues or problems with the wallet.
TonKeeper
One of the most convenient and popular solutions for storing and managing TON. This non-custodial wallet allows for the purchase of coins with a bank card. A notable feature of the crypto wallet is staking services. Users can store coins and earn interest for participating in the support of the Gram blockchain and voting on important network decisions.
Features:
- Advanced encryption technologies to protect funds and data;
- Integration with various services and decentralized applications;
- The ability to create new Gram crypto wallets or import existing ones;
- Convenient monitoring of the balance and viewing detailed transaction history, including sender and recipient addresses, amount, and execution time;
- High transaction processing speed using QR codes;
- Multiple security levels, including PIN code and biometric authentication.
Telegram Wallet
A digital custodial wallet integrated into the popular messenger Telegram allows users to securely store, send, and receive TON cryptocurrency. It was created in the format of a chat-bot to simplify the interaction process with coins, making them accessible to a wide audience.
Features:
- Coin transfers directly in the dialogue without a commission;
- Transactions and user data are protected by advanced encryption methods;
- Instant transactions thanks to TON blockchain technology;
- Receiving cryptocurrency via QR code;
- Built-in P2P platform for buying and selling coins;
- Support for decentralized applications.
Ledger
Recently, hardware non-custodial wallets from Ledger have also started supporting the storage of TON. To store coins, users can use Ledger Nano S, S Plus, and X devices. It is necessary to update the firmware, install the TON Network app via Ledger Live, and use MyTonWallet to manage TON.
Features:
- Support for over 5500 different cryptocurrencies;
- Integration with popular wallets and applications for managing crypto assets;
- Transaction confirmations via the screen on the device to prevent phishing attacks;
- Restoring access to assets using a seed phrase in case of loss or damage to the device.
Which Wallet to Choose?
As you can see, each reviewed wallet offers users a high level of security and a wide range of additional features. The following tips will help you make your choice:
- If maximum control over tokens is your priority, choose a non-custodial wallet. If convenience and support are more important, opt for a custodial one;
- If you are a beginner and unsure about handling all the technical aspects of hardware solutions, custodial crypto wallets like Cropty Wallet or Telegram Wallet will be easier to use;
- Keep in mind that custodial wallets are potentially more vulnerable to hacks, so it is important to trust your assets only to reliable services. Non-custodial crypto wallets are safer in terms of key control but require responsible storage.
Experienced users advise storing long-term cryptocurrency investments on hardware non-custodial wallets and using exchanges and services for everyday transactions. From this, it can be concluded that the best wallet for TON is a custodial one, as the token is more often used for purchases and transfers between people rather than for long-term storage to increase capital.
