The world of cryptocurrency is ever-evolving, with innovations emerging at a rapid pace. Among these innovations, TON CEX stands out as a promising new player, combining the strengths of centralized exchanges (CEX) with the security and transparency of decentralized finance (DeFi). This article delves into the unique aspects of TON CEX, its underlying technology, and its potential impact on the cryptocurrency landscape.

What is TON CEX?

TON CEX is a cutting-edge cryptocurrency exchange platform built on The Open Network (TON) blockchain. It aims to bridge the gap between centralized and decentralized exchanges by offering a hybrid model that leverages the best features of both. This hybrid approach provides users with the liquidity and ease of use found in centralized exchanges, while maintaining the security, transparency, and user control characteristic of decentralized exchanges.

How TON CEX Works

TON CEX operates by utilizing the unique features of the TON blockchain, including its sharding and dynamic workchain capabilities. Sharding allows the blockchain to process multiple transactions in parallel, significantly increasing throughput and reducing latency. The dynamic workchains ensure that the platform can adapt to varying loads and demands, providing a seamless user experience.

When a user initiates a trade on TON CEX, the order is broadcast to the network and matched with corresponding buy or sell orders. The execution of trades is handled by smart contracts, ensuring that the process is transparent and tamper-proof. Users retain control over their private keys throughout the process, and funds are only transferred once the trade is finalized, reducing the risk of fraud or theft.

Top TON CEXes for 2024

1. Matrixport

Matrixport, an all-encompassing crypto financial services platform, offers diverse solutions for cryptocurrency enthusiasts. Its offerings include crypto loans, allowing users to leverage their crypto holdings, and interest accounts where they can accrue earnings on deposited assets. Moreover, the platform features a comprehensive crypto exchange for seamless asset swaps, alongside options for leveraged products and margin trading. Integrating with decentralized finance (DeFi) applications and protocols, Matrixport facilitates participation in yield farming and other DeFi activities. Founded by industry veterans and backed by prominent investors, Matrixport caters to a global clientele across 40 countries, boasting a team of over 290 professionals.

2. Mercuryo

It simplifies cryptocurrency transactions by enabling users to effortlessly buy and sell digital assets with their bank cards, effectively bridging the gap between traditional banking and the crypto sphere. Headquartered in London, the company has secured $7.5 million in Series A funding, aiming to enhance blockchain utility for businesses through its innovative “digital asset payment gateway.” Serving over 600,000 users and collaborating with 180 crypto projects, Mercuryo stands out as a premier digital asset payment gateway provider in Europe.

3. Bit2Me

Established in 2014, Bit2Me stands out as a prominent Spanish crypto trading platform, authorized by the Bank of Spain and serving over a million users spanning 80 countries. Offering a comprehensive suite of services, users can engage in trading over 240 cryptocurrencies seamlessly. Additionally, Bit2Me provides free wallet services for secure storage and transactions, alongside the innovative Bit2Me card facilitating global cryptocurrency payments with potential cashback rewards of up to 30%. Moreover, users benefit from easily downloadable tax reports for income tax filing purposes. For advanced needs, Bit2Me Pro offers professional trading at competitive fees, while Bit2Me Loan provides swift access to loans leveraging cryptocurrencies as collateral.

4. Neocrypto

It is a user-friendly platform facilitating the purchase of Toncoin and various cryptocurrencies via Mastercard or Visa cards, boasting robust security measures, swift transactions, and round-the-clock support. Account creation and verification are streamlined for user convenience. NEO, the cryptocurrency underpinning the NEO smart economy blockchain, incentivizes platform development and asset digitization while promoting blockchain interoperability. By 2017, NEO surged into the top 20 cryptocurrencies, reaching a market capitalization of $5 billion. NEO token issuance enables digital asset creation and smart contract deployment, while staking NEO yields NEO GAS, the platform’s operational currency facilitating smart contract execution within the Neo network.

5. SimpleSwap

It stands out as an effortless instant crypto exchange, facilitating seamless trading, buying, or selling of digital assets across numerous cryptocurrency exchanges. With access to a vast array of over 600 cryptocurrencies, it offers swift swaps without the hassle of a verification process. Notably, SimpleSwap operates on a non-custodial basis, ensuring that crypto is sent directly to users’ wallets without intermediary storage. The platform prides itself on its user-friendly approach, requiring no sign-up for exchanges and providing 24/7 support for inquiries. Additionally, SimpleSwap has expanded its services to include crypto-to-fiat exchanges and offers a mobile app for convenient access on iOS and Android devices.

6. Huobi

Huobi, a leading cryptocurrency exchange established in 2013, boasts a vast array of services catering to its extensive user base of approximately 10 million active monthly users. With over 350 supported cryptocurrencies, Huobi Global facilitates trading, staking, lending, and more. Offering a wide selection of trading pairs, including fiat options and its stablecoin, HUSD, it ensures diverse trading opportunities. The platform’s native token, Huobi Token (H.T.), holds a position within the top 100 cryptocurrencies by market capitalization. Security is paramount at Huobi, with robust measures in place to safeguard user funds.

7. Swipelux

It serves as a pivotal onboarding infrastructure for Web3 projects, offering a suite of features tailored to streamline user experiences. Notably, it facilitates fiat-to-crypto transactions via a seamless payment gateway widget, enabling purchases through credit or debit cards across various platforms like exchanges, wallets, and NFT marketplaces. Simplifying compliance processes, Swipelux manages KYC verification, ensuring a hassle-free initial purchase for users. Moreover, it simplifies wallet creation with a one-step process, fostering broader adoption. With support for numerous fiat currencies and major payment methods, alongside developer-friendly integration options, Swipelux emerges as a versatile solution empowering crypto accessibility and usability.

Princy

Princy Agarwal, a postgraduate in English from Delhi University, writes content for Tricky Finance, where they simplify complex financial topics for readers. With a knack for clear communication, Princy’s work helps make finance understandable and accessible to all.