What is TOMO?

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How to Buy Tomo

Tomo or TomoChain is a public blockchain that offers several advantages: low fees, quick confirmation time, double validation, and randomization for security guarantees. It supports speed, usability, privacy, and liquidity in a single platform.

There are various ways to purchase Tomochain as several exchanges offer this cryptocurrency. You can use fiat currency or another cryptocurrency like Bitcoin to serve as your means of purchase. 

One of the exchanges that support TomoChain is Beaxy. Below is a step-by-step guide to purchasing TomoChain on Beaxy:

Step 1

You can login to your account or register at Beaxy.com and submit identification documents to complete KYC. Then, you can head over to the “Deposit” tab. If you choose to deposit Bitcoin, ensure that you follow the correct steps, and have the right deposit address.

Step 2

You can click the search box and type in Tomo. Then, choose the pair Tomo/BTC to proceed to the next step.

Step 3

You can find the price chart on the left side and the order books on the right. For this guide, we’ll be teaching you to purchase Tomo through making your own limit order, which is found at the top right corner of the trading platform. The current price of Tomo will automatically reflect, but you can change this to the amount you desire. On the “amount” field, you can fill in the amount of Tomo you want to purchase. The “volume” field will show you the price of your purchase in the cryptocurrency you are using to buy. In this case, it will be Bitcoin. Then, you can proceed to pay for the amount by clicking “buy”..

Tomo Value and Price

The value of TomoChain has significantly risen since it was founded by Long Vuong in 2017. Its current price is 0.434582 in US dollars. TomoChain’s return on investment since its launch is 73.74%. Over 71 million TomoChains are currently in circulation in the market out of 100,000,000 total supply. Its market capitalization is valued at over $30 million. Its volume in 24 hours of trading is worth $9 million. Its recorded all-time high was $2.30 on April 29, 2018 and its all-time low was $0.140721 on March 13, 2020.

The value of TomoChain is expected to rise further. Considering the low volatility of its market and the existing supply of this crypto, analysts predict that it would be valued at $2 by the year 2025. It will trade within a tight range for that year and continue to increase in the years to come. 

With the kind of brand TomoChain sells itself as and the technology it offers, it could potentially grow bigger in the next few years. Since it promotes mass adoption of public blockchains and that everything is going digital, it could be one of the pioneers in this aspect.

Tomo Advantages and Disadvantages

TomoChain is a public blockchain that offers better advantages than regular blockchains and exchanges. It is basically a general purpose smart contract platform.

Some of the advantages of Tomo include the following:

  1. Tomo is a scalable and fast blockchain in Mainnet. About 2000 transactions per second with a 2-second block time are executed on TomoChain. Smart contracts on Tomo are compatible with Ethereum Virtual Machine, which means that Ethereum developers can simply put their smart contracts on Tomo.
  2. You can pay transaction fees on Tomo with any token or cryptocurrency. This is part of the exchange’s TomoZ Protocol.
  3. TomoChain was designed to fit the specific needs of developers. It has efficient qualities that allow developers to build high-performance dapps that highlight speed, privacy, convenience, and decentralization.
  4. All transactions on TomoChain are private and encrypted. All client data are also protected by the exchange to prevent any form of cyber theft. This privacy aspect is under the TomoX protocol.

When it comes to disadvantages, Tomo has been in the market for a shorter period of time compared to its peers. It is not as widely known and heavily-traded as Bitcoin, so there is also less volatility in its market. TomoChain’s value does not fluctuate as much as its peers and it usually stays within the single dollar range.

Best Tomo Wallet – How to Choose the Best Wallet for this Crypto

TomoChain has created a secure and efficient crypto wallet designed specifically for keeping Tomo. The TomoWallet is the official wallet for Tomo, but it can also be used to store any crypto that you have on the TomoChain. When it comes to compatibility, TomoWallet is the best crypto wallet for Tomo.

TomoWallet is intuitive, safe, and easy to use. It has a user-friendly interface that is manageable even for amateurs. It allows crypto owners to securely transfer, store, and receive Tomo and other cryptocurrencies. All the transactions are also recorded in the history tab, which makes it easier to trace back on the status of your assets. Another advantage of the TomoWallet is that it is the only crypto wallet that supports TomoChain testnet. 

TomoWallet is also efficient when it comes to tracking your rewards from the TomoChain staking and incentives system. This feature allows efficient tracking and managing of earnings, as well as maximizing profits.

Aside from the TomoWallet, there are two other recommendable crypto wallets that could provide the same amount of security to your assets. These two are the Ledger hardware wallet and Trust Wallet. 

The Ledger hardware wallet is known to be the most secure type of crypto wallet since it is offline and portable. This crypto wallet is just like a USB stick that you can carry anywhere with you. The good thing about offline or hardware crypto wallets is that 90% of the time, they are not connected to the internet, except only when you’re trading. Online wallets are more susceptible to risks as they are on the internet 24/7, giving cyber thefts more opportunities to steal them. There are also easier ways to steal a wallet that is connected to the internet, especially if it is connected to your trading account. Hardware wallets, on the other hand, can only be stolen if the cyber theft knows your pin.

The Trust wallet is easy and convenient to use. It is free and anonymous, and it is mobile-based. It is also considered to be a secure wallet in the market and also supports other cryptocurrencies such as Bitcoin and Ethereum.