How & where to buy TomoChain (TOMO) online
This page outlines everything you need to know about the blockchain project TomoChain. We discuss the history of the platform, its current status, and its future outlook as an investment.
What are the best exchanges to buy TOMO on?Copy link to section
If you want to know where to buy TOMO coin online, simply click one of the links below. These options are some of the top brokers around as reviewed by our team of experienced analysts. If you want to keep learning about TomoChain, scroll down for more information.
How to buy TOMO online – a step-by-step guideCopy link to section
Step 1. Find an exchangeCopy link to section
In our opinion, the best place to buy TOMO crypto in the UK and elsewhere is via a cryptocurrency exchange. We have compiled a wide range of exchange reviews to set you in the right direction, and to save you some time, we have listed two of the top exchanges below:
- Binance: One of the world’s most popular crypto exchanges. Binance supports the vast majority of crypto tokens, including TOMO. Sign up with Binance >
- Bitpanda: Bitpanda is a rapidly growing crypto exchange that supports a variety of coins. Join Bitpanda today >
Step 2. Sign up and fund your accountCopy link to section
Get the ball rolling by choosing a crypto exchange and creating an account. For many exchanges, you will need to pass an identity verification check, so keep a copy of your photo ID to hand.
When it comes to funding your account, most exchanges accept funds in the form of fiat currency and you can also use crypto like Bitcoin. Simply load your chosen funds into your account and you are good to go.
Step 3. PurchaseCopy link to section
Now your account has been validated and funded, you can use it to purchase TOMO. If your account is funded with fiat money like GBP, look for the TOMO/GBP pair, and if your account is loaded with a cryptocurrency like Bitcoin, search for the TOMO/BTC pair. See if you are happy with the exchange rate and make your transaction.
Step 4. (Optional) Get a suitable walletCopy link to section
If you aim to take advantage of a long-term price increase by holding onto your TOMO tokens for an extended period of time, consider opening a crypto wallet. They help protect your tokens by providing an added layer of security, and they can come in both online and offline forms.
We have listed two of the best wallets for storing TomChain tokens below to point you in the right direction.
- Ledger Nano S: As one of the world’s top hardware wallets, the Nano S is an offline solution that protects your TOMO from online attacks and comes in the form of a convenient device that is around the same size as a USB stick. Get the Ledger Nano S >
- BitLox: Another hardware wallet, BitLox has a variety of different versions that have varying levels of security features. It is a reputable option for storing TOMO. Get BitLox now >
How to trade TOMO – a step-by-step guideCopy link to section
Step 1. Find a brokerCopy link to section
If you want to trade, you need to open and close positions quickly to take advantage of short-term market fluctuations. Brokers make this task easy to accomplish.
Before choosing a broker to trade TomoChain, make sure that the platform actually supports TOMO tokens. As a relatively new crypto, TOMO is yet to be widely adopted. Not many brokers support it, but if any are likely to it will be one of the top ones like eToro or Plus500. If you want to find some additional options, consult the table at the top of the page.
Step 2. Deposit moneyCopy link to section
Simply deposit fiat money like GBP, USD or EUR into your broker account. An important thing to remember is that before you make a trade, check that you are happy with the trading fee because you will not get this back.
Step 3. Decide how you’d like to tradeCopy link to section
Trading TOMO can be done in a variety of different way, but everything revolves around the technical analysis and key indicators. This includes things like bases, Bollinger bands and stochastic oscillators. If you can spot a pattern as this develops and make your entry at a good price point, you could be in for meaningful rewards.
Step 4. Start tradingCopy link to section
When your account is fully funded and ready to trade, make sure that you are comfortable with the risks and have sufficient experience. If you need some time to learn the ropes, just use a demo account. These are accounts that function just like the real thing except with virtual money, and they can be a great learning tool before put your capital on the line.
When trading TOMO, you can go short if you think the price is gong to fall, or you can go long if you expect the price to rise. Either strategy can be effective if employed at the right time.
In addition, you can also choose to trade with leverage. This allows you to gain more exposure to the price of TOMO than your initial investment would usually allow, but this also applies if the price falls. We advise inexperienced traders to steer clear of leverage.
Once you have settled on a trading strategy and feel ready to implement it, keep your eyes peeled for optimisations that can enhance your strategy further, and never be afraid to admit you have got something wrong. Above all, never risk money you can’t afford to lose.
Still undecided?Copy link to section
If you aren’t quite ready to decide if investing in TomoChain is right for you, here are some of the pros and cons.
ProsCopy link to section
- Much more scalable than most blockchains
- Rewards all users, even those without powerful hardware
- Small core team has strong background
- Development team has good experience
If you still aren’t ready to invest in TomoChain, check out the three questions below and see if they help you make up your mind.
1.) Is now a good time to buy TOMO?Copy link to section
This entirely depends on your own investment strategy and financial outlook. If you aim to speculate on long-term price increases by holding your TOMO tokens for a prolonged period of time, the fundamental growth of the TomoChain platform could drive the price of your TOMO up. If this is a thesis you believe in, now could be a good time to get some coins.
Contrastingly, if you are a short-term investor, the growth prospects of TomoChain are much less relevant. You should be focusing on technical indicators to plan a good entry point before selling for an elevated price.
Whatever route you choose to take, keep informed about TomoChain by reading our latest analysis:
2.) What problem does TomoChain solve, and what are TomoChain’s investment prospects?Copy link to section
TomoChain solves issues pertaining to scalability that have long affected blockchains. It is designed in a way that benefits all users rather than just those with warehouses full of tech. If TomoChain can market itself better and launch its platform successfully into the mainstream before any of its rivals, TOMO tokens could be poised for significant growth.
It remains to be seen how the next few years will pan out, but with an experienced management and development team driving this project, and with plenty of technical aspects to like, TomoChain appears to be positioned quite well in the short-to-medium term.
To stay up-to-date with the latest developments surround TomoChain and TOMO tokens, click on one of our latest news pieces below:
Should you invest in TOMO after the TomoMasterDAO announcement?
3.) Do you want to hold TOMO for the long term?Copy link to section
You can invest in TOMO for the long term or trade it in the short term, and both of these methods can be profitable if performed correctly. The following section explains the things you should consider when investing in or trading TOMO.
Considerations for a long term investment strategy
Investigate the fundamental, underlying value of the TomoChain network and predict the value of TOMO in the future. If you believe there will be profitable growth, sign up to a crypto exchange and get some coins. If you are planning on holding your tokens for a while, opening a crypto wallet to store them in adds a level of security.
Considerations for a short term trading strategy
If trading TOMO in the short term is of interest to you, sign up to a low-fee broker and conduct some technical analysis on the price of TOMO. If you can time your entry well, profits could be on the horizon.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >