Where to store your cryptocurrency: the difference between Wallet and TON Space
Since the launch of TON Space, Wallet now offers non-custodial, self-storage for your cryptocurrency. Today, we’ll explain what this means and explore the advantages of both your standard Wallet and TON Space.
Custodial service
Think of this service like a traditional bank – only you and your trusted financial institution, acting as the guarantor of your data security, have access to your funds. Your standard Wallet operates as a custodial service like this, providing these advantages:
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Simplicity and convenience. Perfect for quick coin exchanges or sending TON to contacts on Telegram (directly in a chat and without fees).
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Security and account recovery. Includes the ability to recover your account in case of access loss, thanks to the securely stored private key.
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P2P Market. Easily buy or sell crypto with other Wallet users. Give it a try – it’s easy: market.
Non-custodial service
TON Space, on the other hand, is a non-custodial service – meaning all transactions occur on the blockchain. This approach has its own advantages:
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Control. You have complete control over your funds, and you are the sole guarantor of the safety of your seed phrase (but it is possible to make a backup copy).
● TON Ecosystem support. Allows you to manage your collectibles (NFTs), jettons, and exchange them.
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Gateway to Web3. Connect to a variety of Web3 services directly through Telegram.
To start using TON Space, activate it in “Settings” and follow the on-screen prompts. Try adding your NFTs right away to TON Space and let us know in the comments what you’d like to see in future updates
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