How to buy TomoChain (TOMO) in Australia
Learn how to buy TomoChain (TOMO) easily by following a step-by-step guide and compare 10+ crypto exchanges.
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How to buy TomoChain
Look for an exchange that supports both fiat and cryptocurrency to simplify buying TomoChain.
- Open an account on an exchange that supports TOMO.
Jump to our instructions to learn how to bridge — just remember that using a DEX can be complicated and may be more risky than using a CEX.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy TomoChain.
- Buy TomoChain.
Complete your TomoChain purchase and then find the best wallet to store TOMO.
What is TomoChain?
TomoChain is an Ethereum Virtual Machine (EVM) compatible blockchain that seeks to help solve the many different scalability issues being faced by major crypto platforms today. The system allows users to facilitate low fee transactions all while providing fast confirmation times. Furthermore, the ecosystem makes use of certain niche’ “randomization” and “double validation” protocols so as to maintain a high level of data integrity, internal security and individual privacy. TOMO is the native cryptocurrency of the Tomochain ecosystem. It is required by network participants for facilitating network transactions and staking.
TomoChain (TOMO) is the 406th largest cryptocurrency in the world by market cap, valued at $93,151,336. The current price of TomoChain is $1.08, which is -0.079% lower than yesterday. Prices have ranged between $1.21 and $1.06 over the past 24 hours. All prices are listed in US dollars and accurate as of January 27, 2022 05:01 UTC.
Where to buy TomoChainIf TOMO is not available on exchanges in your local market, then you may need to use a decentralised exchange (DEX). Decentralised exchanges run on blockchains like Ethereum and allow users to trade directly with one another without the need for a middleman.
Decentralised exchanges are unregulated and run on autonomous pieces of code known as dApps. To use a dApp you interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.
- Find TOMO on a decentralised exchange and make sure TomoChain can be traded for ETH which is the native asset of Ethereum. Popular DEXs include:
- Buy ETH to trade for TOMO – you can find check a list of exchanges that sell ETH.
- Transfer the ETH into a personal wallet to trade for TOMO using a web 3.0 wallet like MetaMask to connect to the DEX.
Is it a good time to buy TomoChain?
The technical analysis gauge for TomoChain displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of TomoChain based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of TomoChain: moving averages, oscillators and pivots. Finder is not responsible for how TOMO performs.
TomoChain at a glance
|Total TOMO supply||100,000,000|
|Notable team members||Long Vuong|
|Partnerships||Neo, Vietnam Ministry of Education and Training|
|Token uses||Governance, staking|
TomoChain price performance over time
How to sell TomoChain
You can cash out your TOMO with the same exchange you bought it through:
- Sign in to the exchange you have TOMO on.
If you store your TomoChain in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of TOMO you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of TomoChain.
What to consider when buying TomoChainBelow are the aspects you should consider before investing in TOMO:
- Fast and scalable: TomoChain’s functional output depends on a set-up that includes a total of 150 masternodes. These masternodes make use of a Proof of Stake Voting (PoSV) consensus model to help facilitate transactions that are not only instant but also feature very little transfer fees.
- High throughput: While Bitcoin is currently able to process around 5-7 transactions (tx) per second and Ethereum is able to handle around 20, TomoChain claims to offer a transaction throughput rate of around 2,000 transactions.
- Solid backing team: The project is headed by co-founder and CEO Long Vuong, who has previously been associated with a number of high-profile projects, including NEM. Le Ho is TomoChain’s co-founder and CFO. She has previously served as the director for HSC Securities’ Investment Banking Division. Lastly, the company has also been able to bring onboard its advisory panel a number of reputable industry leaders including Roger Lim from NEO Global Capital and Kambria co-founder Thuc Vu.
- Employs sharding: To help with its scalability efforts, TomoChain employs sharding, wherein data sets are broken down into smaller fragments that are subsequently processed in conjunction with each other, thus allowing for faster information relay within the network.
- Token supply mechanics: TomoChain also makes use of a variable supply token model, wherein a total of 100 million TOMO can come into existence during the first 8 years of the project’s life cycle. However, following this period, the platform’s masternodes have the option of increasing the currency’s total supply by 0.5-1 million tokens per year (which works out to an inflation rate of around 0.5%-1% per annum).
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Disclaimer: Cryptocurrencies, including TomoChain, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of TOMO is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the TomoChain or any other cryptocurrency discussed.
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