Tron (TRX) is one of the most ambitious projects that plans to conquer the entertainment industry. The project is designed as a network for P2P content sharing, as well as the development of entertainment applications. What do you need to know about Tron, where to trade TRX, and is it worth it? Find out in our review.
What is Tron (TRX)?
TRON is a decentralized platform that aims to exchange entertainment content. The main goal of the platform is to create a global entertainment network. Content developers can directly implement it to the consumer without intermediaries. To do this, the project is based on a decentralized open source software that uses blockchain technology and P2P networks to ensure direct interaction between creators and users.
In addition to the sharing of entertainment content, on the Tron platform, you can deploy DApps based on the network, issue your personal tokens, sponsor interesting projects, and also participate in the life of the project by voting available to token holders Tron uses a consensus mechanism of the DPoS type, which provides it with the best energy efficiency. One of the advantages of the project is a high level of bandwidth, the developers claim that Tron can handle more than 2000 TPS.
Why should I exchange Tron?
The project has many critics, but this does not prevent it from successfully and profitably trading, let’s look why:
- According to such resources as DigitalCoinPrice, LongForecast and others, the value of the coin will only increase and in 2022 it may reach $0.1.
- The project has serious partners in the face of such global companies as Samsung, Opera, Poloniex and others. This has a positive effect on the trust in the platform, providing an influx of users and investors.
- If the Tron developers adhere to their roadmap, the platform will become home to many entertainment projects, which will lead to an increase in the price. A trader who has managed to buy TRX at the current low price will need to closely monitor the life of the project and when the TRX rate will increase, sell coins in time.
As of August 5, 2021, the price of TRX is $0.06, with a market capitalization of $4,921,967,841. The minimum price of $0.001091 was set on September 15, 2017. The maximum price of the asset was reached on January 5, 2018, when the coin was trading at $0.3004.
Where to trade Tron?
An experienced trader can trade Tron on many well-known exchanges, e.g.:
- Poloniex – the service offers multiple tools for simple and convenient work. In addition, the exchange is the core partner of Tron. By holding TRX (at least 100 coins) on Poloniex, you will receive stacking rewards every other week.
Available trading pairs: more than 300.
- KuCoin – an exchange stands out favorably for its interface, multi-functionality, as well as security. The fee is fixed (0.1%) for all transactions. Holders of the KSC coin receive additional discounts.
Available trading pairs: more than 800.
If you are new to the crypto market, then the best place for you is:
- 7b – a crypto broker with the highest level of security, as well as the simplest and most convenient interface.
Available trading pairs: more than 2000.
How to exchange Tron using the 7b crypto broker app?
7b is the most secure and convenient broker on the market. It is ideal for newly minted traders, as well as experienced users who want to make trading easier for themselves. The procedure of buying or selling TRX has never been so simple and fast:
- Download the 7b app and register an account.
- Top up your balance with one of 400+ cryptos.
- Click on TRX to open a trading page.
- Enter how many coins you wish to buy.
- Click “Buy” to place an order.
Where to exchange TRX?
There are two types of platforms where you can quickly and easily exchange TRX. But each of them has its own advantages and disadvantages that need to be analyzed before making a swap:
|Simplicity and convenience||+||+|
|Limited coin reserve||–||+|
|A huge selection of coins and exchange pairs||+||–|
If you choose a swap platform for the TRX exchange, then the list of the most famous and reliable ones includes the following:
- Bitni – one of the most secure exchange platforms focused on anonymity. There is no need to go through the KYC procedure and even have an account on the platform.
Service fee: 1%.
- Changelly – a reliable exchange platform where you can instantly exchange TRX at a floating or fixed rate.
Service fee: 0.25%.
- ChangeNOW – guarantees the best exchange rate for more than 10 thousand currency pairs. The average exchange speed is about 2 minutes.
Service fee: included in the exchange rate.
- Swapzone – a cryptocurrency exchange aggregator where one can compare exchange rates, analyze and swap cryptocurrency in just one interface.
Service fee: included in the exchange rate.
What to know before exchanging Tron?
A novice trader needs to remember a few simple rules for the safe exchange of cryptocurrencies. Do not exchange for the first platform you find in the Google results. To get started, follow these steps:
- Appreciate the convenience and ease of using multiple platforms.
- Compare the fees charged and the exchange rate.
- Find out about the upper limits on the exchange.
- Find reviews about the platform.
- The key point! Carefully enter the recipient’s address.
How to buy Tron?
You can buy TRX for fiat using platforms with support for a fiat gateway. Each of them has its own requirements. Pay special attention to the exchange rate, the available payment methods, as well as the list of currencies. You can use Changelly or Coingate to purchase. The first one has a large number of payment methods (debit and credit cards, bank transfer, and Apple Pay), the second one supports only debit and credit cards, but the rate is better.
Instruction on buying TRX
Buying TRX for the first time might a bit complicated for a beginner. That is why we have composed a step-by-step instruction so that you could buy TRX without any problems:
Step 1. Sign up to a service providing trading or exchanging
Step 2. Deposit your account with BTC or ETH
Step 3. Find TRX/BTC or TRX/ETH trading pair
Step 4. Enter the necessary sum
Step 5. Confirm the transaction
What is the best time to buy TRX
According to the most analytical reviews, the best time to buy TRX is now. Thought the price fluctuations might occur from time to time, the general trend is upwards.
However it is only up to you to decide, while the information above should not be mentioned as a financial advice.
How to sell Tron
Selling TRX does not differ much from buying it, however, to avoid mistakes follow this instruction to sell TRX:
Step 1. Login the exchange platform you use
Step 2. Find TRX/BTC or TRX/ETH trading pair
Step 3. Enter the necessary sum
Step 4. Confirm the operation
Step 5. Exchange BTC or ETH to fiat (Optional)
What to know before buying TRX
Before buying TRX acknowledge yourself with some helpful tips, which might save your funds:
- Keep your either on hot or cold wallet. It guarantees the safety of your funds.
- Stay calm when the prices go up and down – the volatile nature of cryptocurrency causes huge price fluctuations, however it does not mean you should buy and sell hundreds of times a day.
- Never entrust your funds to dubious services, while some of them might eventually turn out to be scam or fraud.
Tron token use cases
The native token of the project is Tronix (TRX), which can be used for the following purposes:
- Payment for the content that users want to access. Payment goes directly to the creators, bypassing the intermediaries.
- Although it has not yet become widespread, it can be used to pay for everyday goods and services.
- It can also be used as an investment tool, like BTC and other cryptos.
- Users on the network can freeze their TRX to get the Tron Power. The owner of the TP tokens has the right to vote for certain changes in the system.
Is Tron a good investment?
Tron demonstrates a significant capitalization, it ranks 26th among a huge number of other cryptocurrencies. Interaction with some huge companies contributes to the growth of capitalization, and the focus on the entertainment content segment gives the platform significant opportunities to attract new users, and as a result, further growth of the entire project, as well as the price of TRX.
How do I invest in Tron?
In order to invest in cryptocurrencies, you need to choose a secure wallet. Storing a coin in the long term on the exchange is a risky idea. You can purchase TRX for fiat or cryptocurrency. On 7b, you can exchange one coin for another: select cryptos, enter the amount, place a market order. After coins are credited to your account, withdraw them to your wallet.
How to trade TRX for beginners?
There are a huge number of exchanges, brokers and other trading platforms on the crypto market. Choose a platform after studying its reputation, fees, security, and especially convenience. The exchange’s interface is usually extremely complex, which misleads even experienced traders. On 7b, everything is extremely simple: top up the balance with available cryptocurrency, select the coin you want to trade with, indicate the amount, and click “Buy”.
What is Tron Blockchain?
Tron is a decentralized blockchain platform within which users can exchange entertainment content, bypassing intermediaries. The platform provides the opportunity to build decentralized applications and issue personal tokens. The Tron blockchain works on the basis of the Delegated Proof-of-Stake consensus algorithm. In addition, it has a high throughput rate, more than 2000 TPS.