Global navigation satellite system signals are known to be an efficient tool to monitor the Earth ionosphere. We suggest Galileo E5 AltBOC phase and pseudorange observables—a single- frequency combination—to estimate the ionospheric total electron content (TEC). We performed a one-month campaign in September 2020 to compare the noise level for different TEC estimations based on single-frequency and dual-frequency data. Unlike GPS, GLONASS, or Galileo E5a and E5b single-frequency TEC estimations (involving signals with binary and quadrature phase-shift keying, such as BPSK and QPSK, or binary offset carrier (BOC) modulation), an extra wideband Galileo E5 AltBOC signal provided the smallest noise level, comparable to that of dual-frequency GPS. For elevation higher than 60 degrees, the 100 s root-mean-square (RMS) of TEC, an estimated TEC noise proxy, was as follows for different signals: ~0.05 TECU for Galileo E5 AltBOC, 0.09 TECU for GPS L5, ~0.1TECU for Galileo E5a/E5b BPSK, and 0.85 TECU for Galileo E1 CBOC. Dual-frequency phase combinations provided RMS values of 0.03 TECU for Galileo E1/E5, 0.03 and 0.07 TECU for GPS L1/L2 and L1/L5. At low elevations, E5 AltBOC provided at least twice less single-frequency TEC noise as compared with data obtained from E5a or E5b. The short dataset of our study could limit the obtained estimates; however, we expect that the AltBOC single-frequency TEC will still surpass the BPSK analogue in noise parameters when the solar cycle evolves and geomagnetic activity increases. Therefore, AltBOC signals could advance geoscience.