How to Buy Tron (TRX)

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trx

TRON

$0.209266*

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+5.00%

24H

Buy TRON

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Tron is a decentralized blockchain-based platform designed to facilitate the creation and sharing of digital content using peer-to-peer technology. Its native token, Tron’s Tronix (TRX) is listed on more than 130 exchanges and has the distinction of offering its own world-class wallet. The TRX cryptocurrency also acts as the basic unit of account for the Tron blockchain. 

Tron has garnered attention for its ambitious vision of disrupting the entertainment industry and enabling a more open and decentralized internet. This allows users to directly interact with content and creators while retaining control over their data. If you want to know how to buy Tron (TRX) and add it to your crypto portfolio, use our step-by-step guide to get started today.

How to Buy Tron (TRX): A Step-by-Step Guide

Follow these simple and easy steps to purchase Tron and begin your TRX crypto investment.

1. Open an Online Account

Before you can buy cryptocurrencies, you’ll need to open an online account with a crypto broker or cryptocurrency exchange. Most platforms require an email address and password for account creation. You must also submit identification to verify your account. This is necessary for compliance with Know Your Customer (KYC) regulations.

2. Fund Your Account

Once your account is verified, you can transfer funds and make deposits using multiple payment methods. Many platforms accept credit card and debit card, wire transfer, and cryptocurrency deposit from external crypto exchanges and wallets.

To deposit, select your preferred payment method. Then, follow the platform's instructions. Enter the desired deposit amount and review any transaction fees before confirming the transaction.

3. Make Your Purchase

Once you’ve opened and funded an account, you can now make your first TRX purchase. Navigate to the trade section and select TRON or TRX. Enter the amount of cryptocurrency you wish to purchase and place the buy order. Make sure to review the details before confirming the transaction. After purchasing, your TRX coins will appear on the hosted wallet on the platform, which you can then transfer to your chosen cryptocurrency wallet. 

What Is Tron?

Founded in 2017 by Justin Sun and the non-profit Tron Foundation, Tron is a decentralized blockchain platform specializing in entertainment and content sharing. The Singapore-based company has one of the world’s fastest growing public blockchains that uses peer-to-peer (P2P) technology boasting over 8.4 billion transactions and 257 million accounts.

Tron has even been likened to a next generation social media outlet since the Tron crypto ecosystem lets you create and share content with anyone, anywhere. Unlike social media sites like Facebook and Twitter, the Tron cryptocurrency ecosystem compensates you for the data and content you create. 

In addition, Tron’s decentralized distributed storage technology gives you the freedom of creating and uploading content directly into the Tron network without the concern of being censored by big tech companies like Google, Spotify or YouTube.

The platform utilizes smart contracts and has its own token, TRX, which is used to facilitate transactions and incentivize participation within the network. It uses a Delegated Proof-of-Stake (DPoS) consensus mechanism to improve transaction speed and reduce fees compared to Proof of Work (PoW) blockchains like Bitcoin. While PoW relies on miners to solve complex problems for transaction validation, DPoS allows token holders to vote for a limited number of validators, making transaction processing faster and more efficient. DPoS builds on the earlier Proof of Stake (PoS) method, where validators are selected based on their token stake, reducing the energy and computational power needed for blockchain validation.

Brief History of Tron

TRON (TRX) has experienced a volatile price history since its launch in September 2017. Initially, it saw rapid appreciation, reaching an all-time high of around $0.3004 in Jan. 5, 2018, fueled by speculative interest during the cryptocurrency boom. However, like many cryptocurrencies, TRX faced volatility, leading to declines in subsequent years. With the resurgence of interest in cryptocurrencies in 2020-2021, TRX again faced fluctuations, peaking at about $0.16 in April 2021. Following this peak, TRX's price has continued to experience ups and downs, reflecting broader market trends and developments in the TRON ecosystem, with its community and use cases evolving over time.

As of writing, TRX's price remains subject to market volatility, but it continues to maintain a significant presence in the cryptocurrency space. The token is currently trading for around $0.1519, with market capitalization of $13.17 billion. This places Tron in the top 10 leading cryptocurrencies in terms of market cap.

Where to Buy Tron (TRX)

Here are some platforms to help you get started on your TRX crypto investment.

How to Store Tron (TRX) Safely

There are many different kinds of crypto wallets that support the Tron network. Although some exchanges and brokers allow you to store your coins in their wallet, your investment may not be as secure as holding your coins in your own digital wallet.

A cryptocurrency wallet provides enhanced control and security for storing your tokens. There are two primary types of crypto wallets: software wallets and hardware wallets. A software wallet requires an internet connection to access your tokens. In contrast, a hardware wallet stores your tokens offline on a physical device.

• Best hardware wallet: Ledger

The Ledger ecosystem is a clean and beginner-friendly way to access your Tron wallet. It is a widely used hardware wallet known for its excellent cold-storage security. It supports various cryptocurrencies, including Bitcoin and Ethereum. Ledger offers Bluetooth compatibility for accessing decentralized applications through the Ledger Live app on smartphones.

• Best software wallet: Exodus Wallet

Exodus Wallet is a user-friendly software wallet that allows users to store, manage and exchange various cryptocurrencies. It caters to beginners with features like a built-in exchange, portfolio tracking and support for over 100 cryptocurrencies. By storing private keys locally for enhanced security, Exodus offers a seamless experience for both mobile and desktop users, appealing to novice and experienced crypto enthusiasts alike.

Trade or Sell Your TRX Tokens

Once you have gone ahead and purchased your TRX cryptocurrency, you will have established a long position in it that will appreciate in value if the digital currency’s price rises. Next you need to watch the market and decide whether to hold or sell your TRX cryptocurrency as its value shifts. Your trading or investment style, your risk tolerance and your overall plan will generally determine when to sell the cryptocurrency you purchased. 

With TRX trading around $0.15, you may just want to purchase a block of this inexpensive cryptocurrency as an investment to put into a wallet where you can forget about it for a few years. This strategy has worked out well for many cryptocurrency investors, most notably those who purchased Bitcoin in its infancy.

Current Crypto Prices

The cryptocurrency market is highly volatile, with significant daily price fluctuations, particularly in smaller altcoins. It is essential to monitor market movements each morning before investing.

Should You Buy Tron Now?

As one of the prominent cryptocurrencies, Tron has made headlines for its ambitions in the decentralized content sharing space and its partnership with various platforms. However, like all cryptocurrencies, it is subject to high volatility and market speculation.

The digital currency market is still growing, so investing in TRX sooner rather than later would probably be a prudent move if you think long term appreciation seems likely. Tron’s platform and ecosystem also show considerable promise as the next step in social media, and its native TRX digital coin looks like a viable and inexpensive cryptocurrency. 

Frequently Asked Questions