How to buy TRON (TRX) – Trading guide
Table of Contents
TRON (TRX) has been recognized over the past year and has become one of the best cryptocurrencies based on market volume and popularity. Tron is a platform for building decentralized applications (also known as Dapps) with TRX currency. In this quick guide, we’ll give you a quick overview of what Tron is and the most popular way to buy and sell Tron.
TRON is a platform that allows developers to write decentralized applications. It is very similar to Ethereum and EOS, but the founders claim to be more scalable and cost-effective than alternative products. TRON uses TRX tokens to power the platform. The TRON makes use of proof of stake for mining the coin or who can add blocks to the Tron blockchain (e.g. TRX). Consumers can risk some of their funds to break the next block. Unlike proof-of-work, which requires a lot of electricity, PoS is much more economical. Tron uses Solidity as its programming language (same as Ethereum) and the transition from Dapps for Ethereum to Tron programming is relatively straightforward.
If you’ve been investing in cryptocurrencies so far, you’ve probably noticed that one of the best ways to build a respectable portfolio is to trade small altcoins with unique features for the average player, and Tron is one of them. In fact, this is where most of the money is made. This guide introduces TRON Coin (TRX). It explains how to buy TRX, coin features, testimonials and editions, the best TRX exchanges and digital wallets, and more.
What is TRON (TRX)?
Tronix (TRX) is a cryptocurrency that is severely growing its market capitalization. It is designed to make TRON a pioneer in the succession of the entertainment industry by creating a free content entertainment system around the world with blockchain technology. TRON allows all users to freely publish, store and own entertainment data in a decentralized online form. Content owners also make decisions about distribution, subscription, and content marketing. In addition, content creators can distribute digital entertainment assets, making it the first decentralized ecosystem of entertainment content.
With a current market cap of around $10 billion and a daily trading volume of nearly $700 million, the coin is already a market leader in just four months of launch.
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TRON plans to go through 6 steps of launch:
- The Exodus stage: Provides easy distributed file sharing. Blockchain technology is not heavily used with Exodus, with only exceptions to entertainment file sharing.
- Odyssey: Odyssey opens up an advanced system that replaces the current view or clicks with a decentralized system. It is similar to the test pattern for inserts. When people suggest content creators, they can get real content out of the system.
- The great Voyage Stage: At this stage, each content marketer’s personal ticket creates a personalized ICO that allows you to manage your fans, pay money, and manage your dividends. People can now support large-scale entertainment projects and earn some of their revenue with the help of private ICOs created by content creators.
- Apollo: This step is great and related to Voyage, except that TRON will release decentralized tokens and perform system updates to improve security and make the blockchain more stable and secure to prevent hacking, malicious tokens, DDOS, and Sybil attacks.
- Star Trek: TRON evaluation, the blockchain will be developed as a decentralized gaming platform like Augur. The system has been enhanced to provide independent gaming and forecasting capabilities, allowing TRON to reach $450 billion and providing capital improvements that the currency desperately needs.
- Eternity: This final stage of the blockchain will focus on fundraising as investors try to invest money in the game or entertainment of their choice.
Tronix is ready to grow significantly when TRON evaluates it this way. And that’s because most other coins lacked things it has.
How to buy TRON (TRX)
To buy TRON (TRX) traders need to open up a wallet, buy cryptos and afterward put the coins in their own wallets. These three basic steps are the basis of trading and buying TRON (TRX). In the following, we like to give you a quick introduction on how to do that by taking you along the way step by step.
Step 1 – Choose Faith wallet
TRX was an ERC-20 token, which means it is stored in the Ethereum wallet. Today, Tron has its own blockchain with custom wallets.
- Ledger: Ledger is a hardware wallet that allows you to safely store your TRX offline. In addition to Tron, it is a multi-currency wallet that supports over 1000 different assets. There are currently two main wallet models, Nano S and Nano X. The Nano X is an advanced model that supports mobile devices via Bluetooth.
- Exodus: Exodus is a multi-currency wallet that offers a simple user interface and the ability to change coins in the wallet (via ShapeShift integration). Exodus is available for Mac, Windows, and Linux.
- TronWallet for mobile: TronWallet is a TRON-recommended mobile wallet available for iOS and Android. The wallet does not require registration or login, is completely open, and relatively easy to use.
- Paper Wallet: If you’re serious about security but don’t want to pay for a hardware wallet, you can store your TRX in a paper wallet. This means that the TRX Coin’s private key is printed on paper to keep it confidential. On this site, you can print your own wallet. If you have a Tron address finder wallet, you must have a Tron address. Tron’s address is a long letter and number starting with the letter T.
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(5 / 5)Step 2-Buying Faith on the Stock Exchange
It has a market capitalization of TRX for billions of dollars, but there aren’t many great exchange options available to buy. Currently, the most common TRX trading pairs are Bitcoin (BTC) and Ethereum (ETH). If you plan to buy TRX in fiat currency (e.g. US Dollars or Euros), there are only a few suitable options.
Step 3 – Take out the TRX into your wallet
Storing TRON tokens on cryptocurrency exchanges is not recommended. This is because the exchange can be hacked or disabled. Even small issues like scheduled maintenance can be a problem. After finding, registering, and trading the exchange, don’t forget to return your TRX to the TROX address you got in Step 1. Due to the many swap and exchange errors encountered before, you will want to check the following: You are the only one in control of your coins.
TRON digital wallet
Since TRON is an Ethereum based coin, it is compatible with most ERC20 wallets. The most popular wallets can be divided into two broad categories, so you can protect your cryptocurrency or buy a wallet that you deem fit.
Cryptocurrency wallets are digital and similar to regular wallets in that they store money. However, they are unique in many ways.
- It is digital and can only be identified by a fake symbolic key called a public key.
- Online (hot) or offline (cold).
- They support different coins for different reasons. For example, there are wallets that only support Bitcoin and Ethereum.
- Some may allow you to exchange coins in your wallet (you have to be online for this).
- There is a private key used in cryptographic algorithms so that network members can verify the correctness of transactions in the wallet.
Attention: Caution about your private keys
Don’t share your private key or leave it in doubt. The day unauthorized people access your private key, your cryptocurrency is almost gone. Don’t lose your private key too! This way, there is no recovery system and no one opens the wallet.
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Where do I buy TRON Coins?
There are many exchanges where you can buy TRON coins, but I’ll show you the top five. Each exchange has its pros and cons, so read each exchange and decide which one is best for you. It is best to buy TRX with a credit or debit card. Take the time to decide!
Binance
Founded in 2017, Binance is one of the most trusted cryptocurrency exchanges. One of the biggest drawbacks is the inability to deposit or withdraw money in fiat currency. That means you have to trade with other cryptocurrencies. However, Binance is very popular because it contains over 100 other coins, including TRON. Every time you trade on Binance, you will be charged a fee of 0.1%, one of the lowest interest rates. Even better, with Binance Coin, which is also a cryptocurrency, you get a 50% discount on all fees!
Binance was so popular that it temporarily stopped new customers from signing up for an account because so many people signed up at the end of 2017! Binance’s account security is great because you can set up Google Authenticator. Finally, Binance has basic and advanced sections, which are ideal for beginners and experienced traders.
HitBtc
HitBTC is a multi-currency exchange service based in Estonia and has been in service since the end of 2013. It is suitable for beginners as you can deposit fiat currencies such as USD and EUR. If you are in Europe, you usually travel to other parts of the world via SEPA or SWIFT.
If you decide to deposit using your bank account, you will need to provide identification. Also, you will have to wait a few days for HitBTC to verify your ID. If you need to buy TRON quickly, it’s best to deposit other cryptocurrencies like Bitcoin or Ethereum. HitBTC can buy and sell nearly 200 different cryptocurrencies, including Tron. Like Binance, the transaction fee is very low at 0.1%. However, depending on the coins you want to withdraw, the fees can be quite high.
HitBTC has various security features like Google Authenticator, but some people lost their coins when the stock market was hacked in 2015.
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OKEx
OKEx was launched in 2014 and originally only supported the Chinese. But as it became more popular, it also offered English! You can buy more than 100 different coins on OKEx, and the site has a lot of trading volume. There is an option to use fiat money, but it won’t work if you want to buy Tron as advanced traders can buy complex financial instruments.
OKEx’s security is one of the best in the industry. Users must complete a verification step each time they log in, shop or withdraw. Some complain that you have to check your cell phone number multiple times, but I think it’s nice to take security too seriously! Depositing cryptocurrencies on OKEx is free, but each transaction costs between 0.02% and 0.2% depending on the status of your account. You only need to enter your ID if you are trading very large volumes. That means more than 100 bitcoins in 24 hours!
Finally, if you live in a different time zone than China, 24 hours chat support is available!
Mercatox
Mercatox was founded in 2016 and is a peer-to-peer (P2P) exchange. In other words, you are not buying Tron directly on the stock exchange, you are buying Tron from the person you want to sell. Think of P2P as your personal communication! Financing is very simple because there are various payment systems that can handle fiat deposits such as PerfectMoney and Payeer! This includes debit/credit card deposits and bank accounts. This is very convenient, but there are fees for each payment provider, so check before depositing.
The Mercatox exchange offers over 100 different cryptocurrencies that can be bought, sold, and exchanged. Each transaction charges buyers and sellers a 0.25% transaction fee, which is still very cheap. When you sign up for an account, you’ll be asked to set up two-factor authentication, email authentication, and SMS authentication that make your account truly secure.
CoinEgg
CoinEgg is much smaller than the other exchanges I have listed, but it is one of TRONs highest-volume exchanges. You can buy and sell a variety of UK-based cryptocurrencies. Unfortunately, CoinEgg does not accept debit/credit cards or bank account deposits, but you can use popular coins like Bitcoin and Ethereum instead. The transaction fee is very low-only 0.1%.
There is a live chat for support, or you can send a request by email. At CoinEgg we take security very seriously, and we can’t shop until we ask three security questions.
Kraken
Kraken is consistently ranked as one of the safest and most reliable cryptocurrency exchanges in the world. This is important because once you lose your cryptocurrency, it is almost impossible to recover the loss. Kraken takes security seriously with proven technologies and procedures that protect customer funds.
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Use the 4 steps below to find out how to buy TRX with the Kraken platform:
- Account registration: Enter your email address on the registration page, choose a new username, and create a strong password for security.
- Check your account: You can purchase TRX with other cryptocurrencies such as Lumens or Litecoin by entering your full name, date of birth, country of residence and phone number. You can also buy TRX in fiat currency such as sterling pounds or euros, but you will need to provide additional proof of identity to prove your identity.
- Deposit cryptocurrency or fiat currency: To deposit cryptocurrency, create a deposit address and send money from your wallet to this address. For fiat purchases, we offer a variety of financing methods depending on your home country and preferences. Find the help document that works best for you.
Now you know where to buy Tron Coins! It’s time to show you how to buy Tron coins with step-by-step photos!
How to trade TRON (TRX) with other cryptocurrencies
The best way to get TRX is with Binance. They offer the easiest and fastest krypton to exchange crypto from Ethereum, Bitcoin or USDT to TRON and many other options. You can do this by following three steps:
Stage 1: Get Bitcoin or Ethereum with Coinbase
Coinbase is the largest Bitcoin broker in the world, but it also offers Ethereum, Bitcoin Cash, and Litecoin. Once you sign and complete your mobile code verification, you can deposit fiat currency and get BTC or ETH right by going to the Buy/Sell button. Make sure you have enough money to buy the TRON (TRX) you want. You can do this by simulating a sale on Binance as described below.
Step 2: Register with Binance
Signing up for Binance is easy and complete after confirming your email and two-step verification. As soon as you are on Binance-deposits and withdrawals, scroll down to find ETH or BTC and click on the corresponding deposit button.
Step 3: Income Funds and Buy TRX
You will receive an ETH address where you can send ETH or BTC. Do not send cryptocurrency to someone else’s address. Binance approves deposits in a process that can take up to an hour. If you have a cryptocurrency balance on Binance, go to Exchange-Basic and choose a TRX pair as follows:
You can then choose the amount you want and match it with your existing ETH or BTC cryptocurrency balance to buy as much TRX as you can afford on the dashboard below the chart.
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How good is the TRON coin quality really?
The best thing about TRON is its target market. The global capital of the entertainment industry is over $1 trillion. As a trend in decentralized entertainment, most artists and content owners bullied by fat wallet distributors and marketers are now breathing and promising that TRON will take control of their content.
TRON is based in China, which is already widely supported. This is primarily due to the fact that China is a huge market that seems to support innovation compared to others.
Partners
TRON is also thinking of Justin Sun, CEO of Peiwon App. He is an experienced 26-year-old blockchain expert with experience at Ripple as a leading representative in Greater China. Peiwo is an audio app with over 10 million subscribers and 1 million loyal users. Sun made its application compatible with the TRON protocol, making TRON immediately supported in this huge market, making the decentralized function immediately available to Peiwo users, giving TRON a full market of 10 million wallets.
The Chinese giants supporting TRON are amazing. Coins are supported by people like DO Wei, OFO motorcycle founder Tang Bingsen of Clash of Kings, Chaoyun Wang of China Equity Group, and Yang Linke, founder of BTCC.com. Sung himself is an early student at Hupan Jack Ma University, holds a master’s degree from the University of Pennsylvania, and is listed on the Forbes China Under 30 list.
Lucien Chen, a key computer expert who has worked for Tencent and Alibaba, has left Alibaba to join the TRON team, coordinating and leading technical teams around the world.
Get to know TRON:
TRON will enhance live performances, social media, online casinos, and gaming, as well as mobile gaming and all kinds of digital entertainment platforms around the world. It does this by providing payment, development, credit sharing, and content storage capabilities.
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TRON challenges and predictions
In the past few years, there weren’t only good tones spoken about TRON. As with any other cryptocurrency, TRON as well faces criticism and bad tongues. Two press articles really stood out on a bad note, which we want to address briefly.
After the release of the TRON white paper, there has been an unprecedented rapid development in which a competitor called Filecoin borrowed the white paper. The incident pledged to get out of control on this sideshow until Sun himself posted it on Twitter on January 8th, accusing volunteers of translating this article from Chinese into English and other major European languages.
On January 10, 2018, Justin Sun tweeted that TRON had cooperated with the Baofeng group in China. Netflix took the name of a Chinese company, and Baofeng didn’t look like Netflix, so cryptocurrency seekers were quickly caught shouting “Damn Monday”. They don’t create real video content. Provides software used for video playback.
This isn’t a weird phenomenon in cryptocurrency, but it didn’t help with the current issue of claiming that the TRON white paper was borrowed from another white paper, Inc. With the hidden threat of disrupting the big boys’ party, people like former Google employee and inventor of Litecoin, Charlie Lee, couldn’t hesitate to gauge his criticism of TRON with the question above. And that’s a sign that the big boys are listening.
Forecast
Everything is possible on the blockchain. TRON has acquired a large and concentrated industry that requires serious funding. It would be a big shock if we expect Sun to go smoothly as it begins to break the inflammatory hegemony in the entertainment industry’s financial flow. But there is beauty in succession. When the blockchain is released as open-source, creators have no meaningful control over what their network decides to do in the future.
While all currencies seem to be hitting the current price corner, experienced crypto enthusiasts know that in recent weeks there has been an inexplicable and unprecedented rise in the value of cryptocurrencies. Therefore, cryptocurrency’s behavior is difficult to predict when there is a collapse across the industry. However, cryptocurrencies are constantly increasing and decreasing. This is the volatility that smart cryptocurrency traders use to manage the cryptocurrency environment, skip walks and buy cheaper. The simple fact that TRON strives to return entertainment revenues to artists is very popular with almost everyone. There will be a lot of decentralization of entertainment in the coming decades, and TRON has made great strides in this area.
The alternative YouTube offer of TRON is very important because large corporations not only control what people can see, but also bring most of the benefits! On YouTube, as more and more people watch your video, you have the opportunity to monetize your video, but YouTube makes up the bulk of your revenue. Also, if for any reason YouTube decides not to host any more of your videos, they can always delete them.
TRON solves this problem by creating a decentralized platform that no one can control. Instead, control is distributed among thousands of different computers. The only way to hack into the network is to access any computer that supports the network. TRX is used to confirm transactions and pay artists for work. As more and more people use Tron as a decentralized media platform, the value of the coin will increase. Those who initially invested in Tron did well. When the coin was first announced, it was only $0.002. It’s less than a cent! It hit nearly $0.25 per penny in the first week of January 2018, giving lucky investors huge returns.
Conclusion: TRON is a promising asset
There are too many spin doctors in the crypto environment. If a ticket is worth someone’s time, then TRX is not far from a coin or hierarchy. At the time of writing, it’s still selling for $0.06 and is likely to be adopted by all industries, so we have all the volatile cryptocurrency languages right now. It’s no joke to reach 14th place in 4 months of operation.
The revolution in the entertainment industry was exemplified by the TRON blockchain. Now you know exactly how to deal with this promising asset. But no matter what you do, your investment in the cryptocurrency space is not guaranteed, so you shouldn’t invest in assets that you are not ready to lose.
We hope that the information in this guide has given you a clear understanding of the purchasing process. Have you ever used any of the wallets or exchanges listed above? What do you think of them? Let us know in the comments below!
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FAQ – The most asked questions about TRON (TRX) :
Where do you store your TRX?
When you first buy TRX, you need to take steps to keep your money safe. The best way to do this is to use the Tron wallet where you can send, receive and store TRX. There are many types of wallets that you can use to keep your TRX secure, including hardware and software wallets. The option you choose depends on your preference.
Is Tron a good investment?
While this belief has sparked the interest of many investors in cryptocurrencies, there is still a lot to do as it still shows no signs of assumptions like Bitcoin or Ethereum. It is also one of the most difficult altcoins because it is not supported by many popular wallets.
Is Tron a legit coin?
Tron is a decentralized digital platform that is based on a blockchain that has its own functioning cryptocurrency, known as Tronix (TRX). The Tron Foundation is the creator of Tron, which is a non-profit organization located in Singapore. The main aim of Tron is to provide a global system of entertainment to everyone to share digital media.
Will Tron be the next bitcoin?
At the current time, slow and positive growth can be observed in the value of TRX, making it a good option to invest in the long term. But its growth is nowhere close to that of Bitcoin or Ethereum. So, making speculation about Tron is difficult as anything can happen given the present scenario.
Can Tron be mined on my smartphone?
Yes, anyone can mine Tron on their Android-enabled smartphone. They just need to install an app like MinerGate from Google PlayStore through which they can easily start mining Tron with just a few clicks just on their mobile phones anywhere in the world.
Are Tron coins limited in supply?
Tron’s cryptocurrency Tronix is limited and is not endless. Tronix has the value of being scarce, unlike some unlimited cryptocurrencies. When Tron was created by the Tron Foundation, they released a total of 100 billion TRX tokens.
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Last Updated on January 27, 2023 by Arkady Müller
