how to buy tron

Tron (TRX) is a decentralized platform aiming to be the real model of a decentralized digital world. Under Tron, developers can build any project with very few limitations. Due to the potential of Tron, many crypto enthusiasts have started asking questions like “how to buy Tron (TRX)” and “where to buy Tron.”

If you want to buy TRX but don’t know where to start, you should read this article from start to finish. We’ll cover the fundamental steps of buying TRX, as well as some essential topics about the token.

Tron (TRX) Buying Guide

Step 1: Find An Exchange That Supports TRX

To start buying TRX, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support TRX.

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

  • 500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.075%*-0.1%*
  • Sign-up bonus: 10% reduced trading fees*
  • Available in Europe, Asia, Oceania, Africa
  • 300+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.020%*-0.070%*
  • Sign-up bonus: 5% reduced trading fees*
  • Available in Europe, Asia, Oceania, Africa
  • 1500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
  • 10% reduced trading fees & up to $170 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying TRX, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy TRX Officially?

Learning how to buy TRX is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the TRX ticker. You can also look directly for TRX trading pairs to save time. Afterwards, just enter the amount of the TRX tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About Tron (TRX)

Tron is a remarkable blockchain that provides multi-layer functionalities for smart contract utilization and DApp (decentralized app) creation. More importantly, regular users can rely on Tron for different needs like transaction payments, trading, and crypto asset management.

Unlike most blockchains, Tron uses a Delegated Proof-of-Stake (DPOS) consensus protocol to ensure high throughput, low fees, and greater efficiency. Tron also has a Turing-Complete virtual machine known as TVM. This machine is compatible with other EVMs, ensuring higher scalability between apps.

Tron has multiple products and functionalities that users can access:

  • TRONSCAN – Blockchain explorer
  • TronGrid – Full cloud-based nodes for developers and project builders
  • Tron Wallet – Tron’s native wallet for holding funds
  • TRC20-USDT – Tron’s stablecoin issued by Tether
  • JustLend – Tron’s lending platform that processes stablecoins
  • SunSwap – Tron’s DEX (decentralized exchange)
  • SUN token – A social experiment token run by the Tron community
  • Tron Crypto ETFs – Tron’s crypto investment fund

Tron also has a recent project related to space exploration: SEA OF STARS. In this project, Tron’s founder will select five lucky astronauts who will explore the stars in a manned spacecraft. The project is set to launch in Q4 2022.

How Does TRX Work?

TRX, the native token of the Tron blockchain, can be used for payments, transaction fees, commissions, rewards, and staking. TRX stakers can vote for platform developments and they can also choose the Super Representatives that will support the ecosystem every day.

What Makes Tron (TRX) Unique?

Modern blockchains typically make big promises but only a few of them can deliver. Tron, however, is one of the very few blockchains that keep on improving. At first glance, you might see that Tron has many things on its plate. Tron can actually deliver multiple scalable features because of its key features and consensus protocol.

Using DPOS, the Tron DAO appoints 27 Super Representatives (SRs) every day. These representative nodes rotate on a daily basis, granting a sense of democratic unity to all Tron members. The duties of the SRs are transaction validation and block generation. SRs are rewarded with TRX tokens for their efforts.

Tron’s multi-layered architecture also guarantees greater efficiency, multi-chain compatibility, high throughput, and high scaling among DApps. On top of that, the Tron Virtual Machine is compatible with Solidity, allowing the seamless creation of smart contracts.

Who Are the Founders of Tron (TRX)?

The founder of the Tron blockchain is Justin Sun – a talented entrepreneur and business executive. Under Sun’s leadership, Tron became the blockchain giant that it is today. Justin Sun was also famous for leading the acquisition of the popular P2P file-sharing platform, Bittorent. In December 2021, Sun stepped down as Tron CEO to focus on his duties as a diplomat for Grenada.

What Are the Use Cases of Tron (TRX)?

TRX has simple use cases meant for everyday users and decentralized app creators. Understanding Tron’s use cases is a wise move if you want to add TRX to your portfolio.

Here are the use cases of TRX:

  • Speculative trading
  • Payments for DApp services
  • In-platform fees
  • TRX staking and governance
  • Tron ATM
  • Bandwidth payment

Who Builds on Tron (TRX)?

Tron is a powerful and highly efficient blockchain designed for DApp creators and project builders. However, crypto traders – beginners and pros alike – can use Tron to access different apps and programs running in the ecosystem. TRX is also widely supported by many DEXs, merchants, and service providers.

Official website: https://tron.network/

Essential Points of the Tron (TRX) Whitepaper

The Tron (TRX) Whitepaper explained the multi-layered framework of the Tron blockchain. Additionally, the paper covered important aspects like Tron Virtual Machine specifications, bandwidth processing, and governance rights.

These are the strong points of the Tron (TRX) Whitepaper:

  • Tron multi-layered architecture
  • Tron virtual machine
  • Bandwidth fees for developers
  • DPOS (delegated proof-of-stake) consensus
  • Rotating Super Representatives
  • Smart contract integration
  • Blockchain networking
  • Block rewards for validators

The Best Cryptocurrency Wallet for TRX

After knowing how to buy TRX, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for TRX?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of TRX wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade TRX right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy TRX, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for Tron (TRX)

Do you want to learn more about Tron (TRX) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about Tron (TRX)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works
  • Up-to-date cryptocurrency news and developments

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