Have you ever heard of TRON? And I’m not talking about the 1982 Disney movie but rather the TRON Blockchain. A lot of crypto enthusiasts have and, if you’re reading this, you probably heard about it too. If the ideas behind TRON appeal to you and you are thinking of investing in it, you’re probably wondering how to buy TRON. You’ve come to the right place. Read on for a complete, step-by-step guide to buying some.
Where to Buy TRON (TRX) – Top 5 exchanges
The first step when buying something is figuring out where it’s being sold. In the case of cryptocurrencies, that means going to a cryptocurrency exchange. But there are hundreds of exchanges and thousands of cryptocurrencies out there. And no exchange lists all tokens. Besides, a token being listed on an exchange doesn’t mean it does much business. So before teaching you how to buy TRON, we’ll show you where to do it.
First, we head on to www.coinmarketcap.com and type “Tron,” or its ticker symbol “TRX” in the search box at the top right.
On this page, you can see Tron’s current price as well as a price chart and other general information. That’s all very interesting, but right now, what we want to know is where and how to buy TRX. So click on the “Market” tab.
The chart below is a list of all the trading pairs for TRON sorted by highest to lowest trading volume. You can also see the exchanges where each trading pair is. Because it's a list of trading pairs, a lot of exchanges can appear more than once. For example, in the chart below, you can see Binance both in spots 2 and 6. Let's have a look at the top five exchanges:
|Binance||Rating: 5 |
|HitBTC||Rating: 5 |
|Huobi||Rating: 5 |
|OKEX||Rating: 5 |
Step-by-Step Guide on How to Buy TRON
Now that we know where to go, it's time to actually purchase our tokens. All exchanges in the top five are good choices, and picking one could come down to one or two key factors. The first thing to notice is that all these exchanges trade TRX with other crypto tokens. No fiat currencies available, so you’ll have to buy TRX with tokens you already own. Huobi Global has the highest TRX trading volume. Binance has the highest number of trading pairs and more deposit methods. HitBTC is the only one to trade TRX with EOS. Any one of those or other factors could be just the thing to tip the balance in their favor. USDT is the token that appears more often in the list, and Binance is the exchange with the most versatility. So, in this example, we'll be buying 100 USDT worth of TRON.
Step 1: Create an account on Binance
Of course, you only have to complete this step if you don’t already have a Binance account. If you do, skip to step two.
Head over to the Binance website at www.binance.com and click on the yellow “Register” button in the top banner.
You can create your account either with the traditional email address method or the newer way, with your mobile number. Let’s go the traditional route. Type in your e-mail address, password (remember to make it a secure password), and then click on “Create account” and follow all the steps until your account is active and verified. Now is also a good moment to set up Two-factor authentication (2FA) because that extra level of security is always a good idea.
Step 2: Deposit your funds
Now you have a Binance account ready to receive your funds. The next step is getting your USDT in there so you can buy TRX. This means transferring USDT tokens from your personal wallet (where I’m sure you have them safely stored) to your Binance USDT wallet.
Log into your Binance account. In the top ribbon, there's a “Wallet” button. Click it, and you'll see a drop-down menu where you will now click on “Fiat and Spot.”
On this page, you can see your general balance. In other words, how much all the tokens in your Binance wallets are worth. Click on the yellow “Deposit” button along the top.
In this example, we’re depositing USDT, so click on the “Crypto” tab.
Now you have to select the cryptocurrency you want to deposit from the drop-down menu. In this case, USDT. On the right-hand side of the screen, you can see your USDT wallet address under the QR code. You can either copy your wallet address to the clipboard or scan the code.
Now open your personal wallet and transfer your USDT to the address you just got above. In a few minutes, after all the network confirmations have been completed, your USDT will be in Binance, ready for you to buy your TRX.
Step 3: Buying TRON
What we’ve done so far is move funds between your wallets. Your USDT is still USDT as we haven’t actually bought anything yet. But it’s time to do the actual buying now. For that, you'll need to head over to Binance’s cryptocurrency market. Click on “Markets” in the top ribbon.
If you want to see all the trading pairs available for TRON, click on the “All” tab and type “TRX” in the search box on the right.
Remember that we’re buying 100 USDTs worth of TRON, so click on the TRX/USDT trading pair. A pop-up will appear, offering you the choice of using either the advanced or the classic trading interface. Classic will do just fine.
This is the market page for the TRX/USDT trading pair. The first part of this page can seem daunting due to the sheer amount of numbers and information you see. But you won't need any of that to make your purchase. The action happens at the bottom, so scroll down.
On the right-hand column, you can sell any TRON you own for USDT, but we want to do the opposite, so we need to look at the left-hand column. In the “Total” box, fill in how much USDT you want to spend. We want to buy 100 USDT worth of TRX. After typing “100” in the “Total” box, we can see here that we'll get 1,897.5 TRX tokens. After everything is filled in, click on the green “Buy TRX” button to complete the process. In a few minutes, your TRON tokens will be in your Binance wallet.
You are now the owner of just under 1,900 TRX tokens. You can see the process isn’t too complicated. We’re sure you’ll get the hang of it in no time.
Best Wallets to hold Tron (TRX)
The TRX you just bought is still in your exchange wallet. You can keep them there for now if you just want to make quick, day-to-day trades. But if you’re buying as an investment and planning to hold TRON for the long-term, you should transfer them to a personal wallet as soon as possible.
Interest in TRON has gone up in the last year or two, so there are plenty of wallets available to choose from. You can use hardware wallets or software wallets. Hardware wallets are more secure, but they are physical devices you need to buy. Software wallets are generally free to download and use, and you can find options that are desktop-only, mobile-only, web-only or any mix of these. Some wallets support only a handful of cryptocurrencies; others can support thousands of them.
Here are some of the best Tronix wallets:
|Ledger Nano S||Rating: 5 |
|Ledger Nano X||Rating: 5 |
|Atomic Wallet||Rating: 5 |
|TRON Wallet||Rating: 5 |
|Eidoo Wallet||Rating: 4 |
More Information About TRON [FAQs]
What is TRON?
TRON is a blockchain-based operating system created so content creators could publish and directly monetize their content. So users can upload videos as they do on YouTube, pictures like they do on Instagram, etc. but with one big difference. In TRON, the middleman is cut out of the equation, and creators are rewarded by users directly. Payments in the TRON blockchain are made with a crypto token officially called “Tronix,” but most users just use the name TRON for both the token and the blockchain itself.
How Would TRON Work?
TRON is being released in phases, but the general idea is to offer a decentralized platform for content creators to share their products and receive rewards. Suppose you’re an up-and-coming filmmaker and just finished your first masterpiece. Good for you, but how can you make money from your effort? You could upload it to YouTube, which will fill it up with the most annoying ads they can find and start rewarding you after it’s been watched a gazillion times. You could also get an online streaming platform like Netflix or Amazon Prime Video to host your film. They will pay you depending on how popular your movie is, but they get to keep the better part of the money. On TRON, maybe users can watch your trailer, or maybe the first few minutes of your movie for free. If they like it, they can pay to watch the rest… and most of the reward goes to you. Even if only your mom ever pays to watch the whole movie, you can still be rewarded.
Is TRON a Good Investment?
TRX is still one of the cheaper cryptocurrencies out there. Its current price is about 0.054 USD (just over a nickel), after showing an upward trend during the last week or two. As with all blockchain projects, we have to look at what it brings to the table and whether it's desirable or not. In TRON's case, an open-source, decentralized platform that can let content creators publish and be rewarded directly by users is already appealing. Future versions of TRON promise to allow users to create brands and have marketing capabilities. In a nutshell, there is great potential in TRON, and that could drive up both interest in the price of TRONIX. Many experts consider TRX a good investment and expect it to hit 1 USD (20x price increase) sooner rather than later.
TRON is an interesting idea with a lot of potential and a huge market. Musicians, filmmakers, painters, cartoonists, poets, and other artists could make their work known without the hassle of the present-day system and could start getting rewarded immediately. It sounds like a good project to invest in. In this article, we've provided a step-by-step guide on how to buy TRON, so if you decide to invest, you can do so right now. But what do you believe? Do you agree that TRON really has that much potential? What do you think about a decentralized, blockchain-based Netflix? Are you a creator that would like to get your stuff out on TRON? Let us know in the comments.