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The TON Network is Live on Quidax: Deposit/Withdraw TON

We’re excited to announce that the TON network is now live on Quidax. 

What does this mean?

It means you can now deposit and withdraw Toncoin ($TON) on the Quidax exchange. To bring you up to speed, let’s learn more about the TON network and Toncoin 

What is Toncoin (TON)? 

Toncoin is the native coin of the TON network, which is tagged “The Open Network for Everyone.” The TON blockchain operates using the proof-of-stake (PoS) consensus mechanism, and TON is used for transactions, fees, network operations, and other activities on the network. 

Looking at its history, Toncoin has come a long way. The token was initially developed in 2018 by the founders of Telegram, Nikolai and Pavel Durov, as part of the “Telegram Open Network” project.

At the time, the goal was to allow users to trade and store crypto using the popular Telegram messaging app. But the project was acquired by the TON Foundation, which renamed it to “The Open Network.” 

As of the time of writing this post, the TON price is around $5.7, with over a 145% increase in the past year. 

According to some experts, the coin could  reach over $5 before the end of September and over $6 by December, 2024. 

How to Deposit or Withdraw TON on Quidax 

You can deposit TON on Quidax using the steps below: 

  • Sign in to your account on the Quidax web or mobile app 
  • Tap the “Trade” button and choose between the Instant Swap or Order Book feature 
  • Search for “TON” from the available coins
  • Enter the amount to deposit 
  • Verify and complete the transaction 

You can withdraw TON on Quidax using the steps below: 

  • Sign in to your account on the Quidax web or mobile app 
  • Click the “Wallets” button and select “TON” from the available options
  • Tap the “Send” button and enter the amount to withdraw 
  • Select the receiving wallet’s network and enter the recipient’s wallet address 
  • Verify and complete the transaction
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