The Open Network (TON) is a user- and service-provider-friendly blockchain network that is capable of processing hundreds of thousands of transactions per second with a unique 3-layer network architecture.
TON is often viewed as a massively distributed supercomputer capable of hosting and delivering a wide range of services. Aside from handling millions of transactions per second, TON has all the components of a holistic Web 3.0 ecosystem, which include decentralized storage, an anonymous network, a domain name system (DNS), seamless payments, and other decentralized services.
Toncoin ($TON) is the native token of The Open Network (TON) with a wide range of use cases.
In this article, we’ll explore how to enjoy the benefits offered by both the TON blockchain and Toncoin.
Let’s dive in!
Fees Incurred During Blockchain Transactions
- Gas fees: Gas fees are fees paid to miners on a blockchain protocol for their transactions to be included in the block. This is the amount of money given to the miner as compensation for providing the necessary computing power to complete the transaction.
Gas fee prices usually vary based on several factors, such as the crypto prices at the time, the complexity of the transaction, and the volume of transactions occurring simultaneously with your transaction (gas fee demand). - Service provider fees: Service provider fees are incurred as a charge from a crypto wallet service provider; these fees vary in different wallets and exchanges, as each one has its own unique policies. For example, some wallets and exchanges charge fees for deposits and withdrawals of all tokens, while others do not.
Similarly, some wallets/exchanges charge for swaps, while others do not. There are over a hundred crypto wallets, each with its own fee structure, all of which are classified under the broad name “service provider fees.”
Together, gas fees and other service provider fees can add up quickly, making crypto transactions too expensive, and you may miss out on potentially profitable trades.
How TON Facilitates Free Crypto Transfers
The Open Network (TON) was initially founded by Telegram co-founder and developer, Nikolai Durov. However, due to legal issues with the Securities and Exchange Commission (SEC), Telegram had to officially discontinue the project, before making it a community-led project in 2021.
Although Telegram maintains a no-affiliation stance with TON, Telegram’s founder and CEO have publicly endorsed the project, and when Telegram launched an in-app crypto wallet in 2023, it was launched on the TON blockchain network.
As a result, Telegram users can now start making crypto payments (particularly USDT) to each other through the TON blockchain without any gas fee or service charges.
This integration also supports the use of Toncoin within Telegram's various decentralized applications, enhancing the utility and accessibility of the cryptocurrency for everyday users.
In Q1 2024, Telegram announced that 50% of ad revenue would be distributed amongst channel owners, of which the payments would be made with crypto and settled on the TON blockchain; this further increases the use case of Ton and that the fees would be settled on the TON blockchain, distributed in Toncoin. This newly found use case for Toncoin ($TON) is one of the major reasons it has been one of the most performing cryptocurrencies in the last month.
Other $TON use cases include:
- Payment of on-chain and cross-chain transaction fees
- To allow access to the decentralized TON storage system, the TON Domain Name System (DNS), and other embedded TON services.
- To facilitate governance via staking.
Steps Involved In Sending USDT For Free On Telegram With Toncoin
There are about 3 steps involved in sending and receiving crypto on Telegram via the TON blockchain.
- Download the Telegram mobile app and sign in to your account.
- Go to “settings” and select "wallet.”
- From there, you can create a new Telegram crypto wallet, fund it with crypto, and enjoy free transfers for USDT and Toincoin ($TON) with other Telegram users via the TON blockchain.
How To Send and Receive Toncoin ($TON) and USDT For Free via Cwallet
Cwallet is a hybrid custodial and non-custodial wallet that allows users to pay the lowest possible gas fees. When you execute a transaction with Cwallet, it automatically sets the gas limit at the exact cost you need for the transaction to pass through and nothing in excess, so that you don’t pay more than needed.
This makes it a good wallet choice to send, receive, and swap crypto assets, including Toncoin, USDT, and 800+ cryptocurrencies, and you can save up money that would have otherwise been spent on exorbitant fees.
Even better, Cwallet offers gas-free transactions for users within its network (internal transfer), so you can send and receive $TON, $USDT, and 800+ tokens from other Cwallet users without paying a cent in gas fees.
To make an internal transfer on Cwallet, both sender and recipient must have a Cwallet account, which automatically comes with a unique “Cwallet ID.” This Cwallet ID can be used to complete all transactions to waive all fees, including the gas fees paid to the network validators and all service fees paid.
Hence, irrespective of network congestion or gas prices, you can easily send and receive cryptocurrencies and NFTs from other Cwallet users without incurring any gas fees. Most importantly, Cwallet charges no fees for all of its services, so you need not worry about hidden fees. The service is absolutely free to use.
It only takes a few seconds to create an account, and you can begin to make deposits and withdrawals.
End Note
Given its affiliation with Telegram, the TON blockchain can leverage its robust infrastructure to ensure that users can enjoy seamless, gas-free transfers and tap into a diverse array of decentralized services.
This enhances accessibility and inclusion, as more use cases draw traditional users to crypto via the TON blockchain.
Cwallet also utilizes excellent gas fee management technology, as well as internal transfers to ensure that you can maximize the benefits of blockchain technology without worrying about excessive charges.
With Cwallet, you can enjoy ZERO fees on deposits withdrawals, and swaps, as well as the cheapest possible gas fees. Also, you can send $TON, $USDT, and 800+ cryptocurrencies to other Cwallet users at no cost.
Whether you're new to crypto or have industry experience, Cwallet offers you a gateway to access efficient and cost-effective crypto experience.
