What is Tron?
Tron is a crypto platform that allows developers to write decentralized applications. It is quite similar to Ethereum and EOS. However, it is a little more scalable and cost-effective compared to its peers. Tron cryptocurrency uses the TRX token to power its platform.
Tron is one of the newest cryptocurrencies in the market that has rapidly gained ground in recent months. It was founded by Justin Sun in 2017.
Tron ecosystem is a blockchain-based operating system that has more than 100 million users. It offers compatibility for Ethereum smart contracts using its pluggable smart contract platform. In July 2018, Tron acquired BitTorrent, a P2P file-sharing service, with more than 170 million monthly users across its products.
What is TRX?
TRX is the official cryptocurrency of the TRON Blockchain. Unlike other cryptocurrencies, TRX focuses on becoming a human asset instead of benefiting crypto traders alone. Tron cryptocurrency can’t be mined, but you can buy TRX on major cryptocurrency exchanges like Binance and Coinbase.
How to Buy Tron Coin?
Here are the steps to buying Tron coin:
Step1) Go to the Binance site & register
You need to first register on the Binance site by clicking Register Now Button.
Note: You will need to open an account with Binance before you can buy TRON. This will require some personal details and confirmation of your email valid registered address.
Step 2) Open Crypto Trading Account with Binance
- Select the method as Email
- Enter your email address and password, then just click on the “Create Account” button
Step 3) As an extra security step, Binance also asks you for the puzzle verification
For that, you just need to drag and drop your mouse to complete the puzzle shown on your screen
Step 4) Verify your Binance Account by entering the verification code
You need to enter the verification code you have received on your email id
Step 5) Complete all the registration formalities and enter the billing details to proceed with your TRON coin purchase
1. Click on the Trade menu
2. Then press the Convert option to convert your fiat currency into TRON
Step 6) Convert your Fiat to USDT or any other stable coin
You cannot directly convert Fiat to TRX. You need to first convert your Fiat to USDT or any other stable coin. In this case, we are converting GBP to USDT.
Step 7) Convert your fiat currency into Tron Coin
In the Convert & OTC Portal screen,
1. Select USDT (or any other stable coin you converted in step 6) and enter the amount you want to convert into the TRON coin
2. Click on the “Preview Conversion” button
Note: There is a minimum conversion amount of 20 USDT
Step 8) Enter the conversion amount and see the preview
You will see the amount of TRON you will receive after conversion. If everything looks good, click “Convert” to proceed with the transaction
Step 9) Check the Conversion Status
Once the conversion process is successful, you can see the status of your Tron cryptocurrency transaction by clicking on the “View Status” button.
Why buy TRX?
Here are some prominent reasons for buying TRX:
- You can develop an application powered by its cryptocurrency.
- It helps you to create a long-term crypto portfolio strategy.
- It allows you to play Tron-based games or use Tron-based applications.
- You can also raise money to start a new cryptocurrency project.
- You can stake TRX to begin earning more cryptocurrency.
- The Tron coin attracts many global investors because of its vision of decentralizing the Internet.
Key elements of Tron (TRX) include:
Here are some key elements which are important for Tron:
- Exodus: Tron is currently in this phase. Tron will provide a free peer-to-peer forum to distribute and share entertainment industry-related content in this beginning phase.
- Odyssey: Economic incentives will be placed at this point to encourage the development and empowerment of content. Hopefully, users of Tron coin should be able to make a transaction using Tron in that stage.
- Great Voyage: When TRON scaled up to this level, a personalized token creation for all content markets will incentivize the creation of personal ICOs (personal information) that will allow for income payment, supporter management, and dividend management. When this stage reaches, people will be able to support massive entertainment projects.
- Apollo: In this stage, TRON will introduce its decentralized tokens and carry out system updates to increase security to make the blockchain more robust and secure to avoid DDoS attacks, hacks, and malicious tokens.
- Star Trek: The content layer of Star Trek will be turned into a decentralized game platform. This is the fifth phase in the scaling of TRON that will see the blockchain morph into a decentralized gaming platform.
- Eternity: It will help developers crowdfund their production by encouraging people to invest in games they like.
What payment methods can you use to buy Tron?
Here are various payment methods to buy Tron coin:
Buy TRX with Bank Transfer
You can first buy Bitcoin, XRP, Litecoin on any other crypto listed on Binance by transferring money from your bank account to the providers of those coins. After this, you can use that crypto to buy TRON on the Binance exchange.
Binance crypto exchange platform supports the deposit of more than 150 cryptocurrencies. You can exchange for TRON at some of the best rates available in the market. For example, you can buy Bitcoin and then exchange it for Tron.
Buy TRON With Debit Card
The best method to buy TRON is with a debit card. However, according to US laws on anti-money laundering, you need to go through a KYC process to use your debit card to buy Tron crypto. That’s because the purchase will be executed by the broker instantly.
Buy TRON With Credit Card
Depending upon your broker, you can buy Tron using your credit card. The only major difference here is that some credit card providers take extra fees when buying cryptocurrencies. This is a cash advance fee, and it is generally charged when you are using their services for buying crypto.
Buy TRON With Bitcoin
Suppose you hold a cryptocurrency like Bitcoin. You can make a direct swap between these two currencies via an online exchange like Binance. You can complete the Tron crypto purchase process in minutes as you don’t need any KYC documents.
Where to Buy Tron Coin?
|Exchange Name||Deposit Methods||Fiat Currencies||Coins Supported||Link|
|Binance||Crypto currency, Credit and Debit Card, Koinal, etc.||USD, EUR, AUD, GBP, NZD + 40 others.||BTC, ETH, BTG, DASH, XRP, ADA, NEO, TRX, etc.||Learn More|
|Coinbase||Bank Account, Debit Card, Wire Transfer, PayPal, Apple Pay, etc.||USD, EUR, AUD, GBP, HKD, INR, etc.||BTC, LTC, XRP, TRX, ADA, DASH, NEO, etc.||Learn More|
|PrimeXBT||Credit Card, Debit Card, Bank Transfers, Western Union, MoneyGram, and cash deposits||AUD/USD, EUR, GBP, NZD, JPY, CA, etc.||BTC, ETH, LTC, TRX, XRP, ADA, DOT, DOGE, ETH, and XRP.||Learn More|
|CEX.io||Debit Card, Credit Card, Bank transfer, Skrill, etc.||US, AUD, CAD, GBP, JPY.||BTC, ETH, DASH, LTC, ADA, NEO, TRX, XRP, etc.||Learn More|
|Kraken||Bank Transfer, Credit card, and Apple Pay.||USD, JPY, GBP, CHF, and AUD.||BTC, ETH, XPR, XMR, ADA, BCH, TRON, ZCASH, etc.||Learn More|
Binance is a crypto trading platform to create a crypto wallet that offers a platform for trading more than 150 cryptocurrencies. It provides an API that helps you to integrate your current trading application.
Coinbase is a widely popular cryptocurrency platform for purchasing, selling, transferring, and digitally storing assets and cryptocurrencies. It allows users to securely store numerous different digital assets in offline storage. Coinbase also allows users to buy, sell and trade digital assets, including Tron coin.
PrimeXBT is one of the best exchanges to buy a Tron coin. It offers one-click trading to place buying or selling orders immediately. It also offers robust technical analysis tools and charting.
Cex.io is a cryptocurrency exchange that helps you to buy and sell different cryptocurrencies. This site allows you to trade with more than 10x leverage without creating an extra account.
Kraken crypto exchange offers a crypto exchange platform and financial stability by maintaining full reserves, relationships, and the highest legal compliance.
Why use Tron Coin?
Following are some reasons for buying Tron Coin:
- TRON Power: By locking TRX coins away for an extended period, Tron Coin holders can earn TRON Power. TRON Power holders are entitled to get greater privileges like voting rights.
- Plagiarism Accusations: In January 2018, TRON was hit by charges that large sections of its whitepaper were plagiarized. Justin Sun, the founder and CEO, was dismissed. The alleged plagiarism was translation errors made by volunteers. The revised Chinese and English whitepapers with plagiarized free content were soon released.
- Partnerships: TRON has partnerships with several other companies and projects, including gaming site game.com, virtual gifting platform Gifto, and mobile social media platform Peiwo.
- The battle for adoption: TRON has wide-reaching goals. It includes creating a high-quality content hosting platform and social networking sites that link all users to turning TRX into digital currency.
❓ Where to Buy TRX Coin?
There are multiple crypto cryptocurrency exchanges that allow you to buy TRX coins. However, it is highly recommended to choose either Binance or Coinbase as they are secure, trustable, and popular cryptocurrency exchanges.
⚡ What are the Best Tron Coin Wallets?
Following are the best Tron coin wallets:
🚀 Is Tron a Ponzi scheme?
No, not at all. Tron is a completely legitimate platform that pays digital currency to creators after investors buy their content on the network.
🏅 Is Tron a Good Investment?
TRON is working behind an innovative blockchain network that aims to decentralize the content creation industry. Its future looks bright and how much it will grow remains to be seen. Therefore, you should only invest if you have performed your research and are well-versed with the risks involved.
👉 How to Sell TRON?
You can sell TRON coins to an online broker by placing a ‘sell order.’ This process can be completed in one or two seconds if the TRX tokens are currently stored in your crypto wallet because you don’t need to transfer them over from an external source.
❗ Can I Buy Tron Directly?
Tron can be bought directly through Peer to Peer (P2P) trade. You can also buy this Cryptocurrency from decentralized exchanges or from someone who holds Tron coins.
✔️ Why are People Buying Tron Now?
Here are the prime reasons why people are buying Tron crypto:
- Buying for creating an application powered by its cryptocurrency.
- Helps them to create a long-term crypto portfolio strategy.
- For playing Tron-based games or using Tron-based applications.
- Allows them to raise money to start a new cryptocurrency project.