TRON has an impressive history, with one of the youngest CEOs of all time, Justin Sun, currently 29. In addition to being a protégé of Alibaba’s Jack Ma, Sun has qualified for numerous awards and accolades over the years. These include the Forbes Asia 30 under 30 among others. Most recently, he was nominated for the Nobel Economics Prize.
In the few years of its existence, the network has grown in leaps and bounds, recently moving from the Ethereum blockchain to its own mainnet.
For these and other reasons, TRON is a top crypto investment choice for many in the community. If you are thinking of having a piece of the pie, here is everything you need to know about safeguarding your TRX funds, but before you do, you may want to have a look at our Tron price page first, to see what to expect from the currency in the months to come.
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What is a TRON Wallet?
TRON currently sits in the 12th position on cryptocurrency charts according to market capitalization. It was launched in September 2017 with Justin Sun as its CEO. The project operates under the TRON Foundation, a non-profit based in Singapore.
Everyone who owns TRON uses a digital TRON wallet to keep track of it. Cryptocurrency wallets can be used to:
- Send Cryptocurrencies
- Receive Cryptocurrencies
- Trade Cryptocurrencies
- Spend Cryptocurrencies
- Withdraw Cryptocurrencies
Each Zcash and cryptocurrency uses blockchain technology to complete transactions. However, crypto wallets cannot:
- Send TRON to any non-TRON crypto address
- Share user information with 3rd parties (not recommended)
- Withdraw or access bank funds (only Bitcoin ATM)
The aim of the TRON blockchain is to create a decentralized global entertainment system using distributed ledger technology. Consequently, users on the network use the TRON protocol to publish, own and store data. They are then able to distribute the data through subscriptions, pushing content and other models.
In order to facilitate the platform’s objective of sharing quality art and content while monetizing the opportunity, TRON uses a cryptocurrency known as TRONIX (TRX). In case you are already part of the TRON ecosystem or want to get started, one of the most important things you need is a TRON wallet.
TRON was originally a DApp on the Ethereum blockchain and would work with any ERC20 compatible wallet. But in 2018, it launched its own mainnet, requiring specialized wallets.
A TRON wallet is a digital wallet capable of storing TRX and supporting user transactions. To help you make the right choice, let us analyze some of the popular TRON wallets out there.
Best TRON Wallet in the US – Full Reviews
There are several hot storage cryptocurrency wallets that support Tron, but these wallets vary in their functions and offer different services. So, before picking up a Tron wallet, you need to consider its functionality, safety, and your investment goals. If you aim to not only securely store your coins but also create a versatile portfolio, exchange between several cryptos on the platform, you should choose a wallet that offers several features.
Based on our research during which we analyzed several crypto wallets for Tron, we have chosen eToro Money wallet, Coinbase wallet, and Binance Trust wallet, as the best wallets to securely store your crypto and enjoy the platform.
eToro Money Wallet
eToro is one of the most widely used brokerage platforms worldwide that supports multiple assets, including cryptocurrencies. It has recently launched its decentralized software wallet called Money which is designed to store, buy, sell, sell and receive cryptocurrencies. The wallet supports a wide selection of cryptocurrencies, including 120 assets to buy and 500 pairs to exchange. Plus, eToro supports staking, meaning that you can lock your Tron coins in the pool to gain rewards.
The money wallet is very simple to use. To operate your personal wallet, just visit the eToro website, sign in for an online account and you can use the same username and password to activate a Money account. Though you must fully verify your eToro account to be able to use the Money wallet.
The Money wallet has several advantages. Firstly, it is founded by a very reputable online broker that has more than 20 million users worldwide. It hints us that the Money wallet should be as safe as eToro’s brokerage platform. Due to the security systems it uses, you can enjoy safe trading and keep your assets away from scammers.
The Money wallet app is free and can be downloaded on your mobile phone. You don’t need to pay any fees for holding your cryptocurrencies too. However, if you want to further develop your portfolio, buy or sell cryptocurrencies, you must pay transaction fees, which are actually not charged by the platform, but by the blockchain to pay miners.
There is one more thing to consider if you want to use the eToro Money wallet. If you transfer your coin from your eToro account, you can’t transfer it again to your eToro brokerage account. Still, you can send it to other cryptocurrency wallets.
Huobi Multi Currency Wallet
Huobi Wallet is a professional, multi-coin wallet that is provided by the Huobi Group, which also operates Huobi Global cryptocurrency exchange. Both wallet and broker are highly reputable platforms and are distinguished with a number of useful features. Though Huobi wallet also supports an exchange where you can swap between different cryptocurrencies, Huobi Global is a professional crypto broker with a high number of coins supported and low trading fees.
In the same way, the Huobi wallet is more professional in storing your crypto assets securely. Meanwhile, you can take advantage of its various tools and services. The wallet lists 20 cryptocurrencies, including the most popular ones, like Bitcoin, Ethereum, Ripple, Dogecoin, Bitcoin Cash, etc. Apart from cryptocurrencies, it also supports storing ERC-721 based NFTs and provides you with access to the “Defi Gateway” tool.
You can download the wallet’s app on the Appstore and Playstore and install it on your device for three. Alternatively, you can visit its website and use its web version. Huobi Wallet has a straightforward design and operates fast, so a good user experience with this platform is guaranteed.
The next fascinating thing about the Huobi is its security features. It enables you to store your private keys on your device rather than keeping them on its servers. Additionally, it provides secure backup options to safely store your coins and prevent losses and any malicious logins into your Huobi account.
Crypto.com Defi Wallet
Crypto.com is a secure and advantageous way to store your Tron coins. It can be the best solution if you also want to build a diversified portfolio, as the wallet supports hundreds of popular cryptocurrencies, coins, NFTs, and stablecoins. The most popular assets supported by the Crypto.com wallet are Bitcoin, Ethereum, Tron, IOTA, Cardano, Dogecoin, Shiba Inu, Uniswap, Tether, USD coin, and several others.
Storing is just one of the functions provided by the wallet. In fact, it’s quite versatile and supports buying and selling a wide range of crypto assets by connecting your wallet to the Crypto.com app. What is most essential is that you can buy cryptocurrencies using a credit or a debit card. Plus, more than 30 Defi coins are available to stake and generate rewards through the Defi Earn tool. Crypto.com also supports all the ERC721 and ERC1155 tokens and enables you to view and explore several Defi protocols.
As for the pricing system, the wallet is completely free to use and store your coins. Still, if you conduct a transaction you have to pay gas fees as it’s charged by the validators to confirm transactions. The good news is that these fees are adjustable and you can select your favourite transaction speed and price. Obviously, the faster you want to complete them, the more you must pay and the other way round.
With the Crypto.com wallet, you can also be sure your funds are kept secure and away from any fraud and malicious attacks. The customer support is not top-notch, as it lacks a mobile call option, but it provides email and chat support. The app is available to download from the Appstore and Playstore and can be easily installed on your device.
Binance Trust Wallet
Binance cryptocurrency exchange offers one of the most secure and versatile hot storage wallets. Initially launched to hold only ERC20 tokens, Binance extended its cryptocurrency list including also ERC223 tokens, plus several other blockchains. It has an in-built exchange where you can buy, sell, exchange and swap over 160 cryptocurrencies. Plus, you can enjoy a very user-friendly interface and free storage for your crypto assets.
When it comes to safety, the wallet offers top-notch safety systems to protect your account from any fraud and hacks. Additionally, it supports users’ privacy and hardly stores any data on its servers. And what is most important, you don’t have to undergo the Know your customer process to use the Trust wallet.
The wallet is super easy to operate which is one of the reasons why it has attracted over 5 million users worldwide. Along with supporting a huge variety of cryptocurrencies, the Trust wallet also allows earning interest by staking your crypto assets. Another feature that helps the Trust wallet to stand out among other wallets, is that it uses an in-built WEB3 browser and gives you access to the Ethereum-built decentralized apps where you can use your assets to buy things. The wallet also provides in-built charts where you can track the cryptocurrency prices without leaving the app.
To store your Tron coin on the Trust wallet download the app from the App Store or Play Store, install it on your device and choose between creating a new wallet or importing an existing one. If you want to create a new wallet, you will be given a 12-word recovery phrase which you must keep in a safe place and be careful not to lose.
Coinbase Wallet
Firstly, it’s essential to understand that the Coinbase wallet and Coinbase cryptocurrency exchange are not the same. They are operated by the same company but are two different platforms with each of them having its unique features. Coinbase is one of the most popular and trustworthy cryptocurrency exchanges worldwide and it offers a hot storage wallet irrespective of the platform. When compared to the other wallets reviewed above, Coinbase does not provide a wide selection of assets, but it supports enough tokens to perfectly diversify your portfolio. These include all the ERC-20 token-based cryptocurrencies, plus some other blockchains, including Tron, Bitcoin, Litecoin, Dogecoin, etc.
Speaking about safety, you can be sure that your coins will be secure on the Coinbase wallet. The platform uses robust security features, including 2FA, signature confirmation, and others, to protect your account. The wallet is also compatible with a number of hardware wallets, including Ledger and Trezor.
The Coinbase wallet does not have a complicated interface so beginners will find it very easy and user-friendly. It can be downloaded and installed on your mobile device or desktop very quickly, and crucially without any subscription fees. To start using the wallet, just register for an account and fill in the necessary details it requires for the registration.
While introducing the Coinbase wallet, we can’t but mention how functional it is. Apart from being a platform to buy, sell and hold cryptocurrencies, it also provides storage for non-fungible tokens (NFT). Furthermore, the platform gives you the opportunity to join ICOs and buy lots of new coins at low prices. Through Coinbase wallet you can also access Decentralised apps and purchase on Ethereum-based platforms.
Best TRON Wallet Providers
Binance is one of the most popular crypto exchange platforms globally. When it first made its foray into the market, it was located in China, which was one of the biggest crypto markets at the time.
However, due to regulatory challenges, they relocated operations to Singapore and Hong Kong and later set up shop in Malta, the highly famed Blockchain Island.
In spite of its popularity, Binance has only been in existence since 2017. But thanks to the high number of successful ICOs that have been listed on the platform and its charismatic CEO, Changpeng Zhao, it has gained widespread popularity.
It is also known for offering low trading fees and a good number of crypto trading pairs. To open your own Binance exchange wallet, here is what you need to do:
Step 1 – Create Your Binance Account.
Visit Binance.com and register your account by entering your email address and creating a password.
Binance will send you an email. Open it and click on the link to complete the process.
That will take you to your new account. To unlock full site functionality, submit as much personal information as you can.
Note: You can’t buy TRON with fiat money (like USD) on Binance.
Step 2 – Go to “Funds” > “Balances”
On this page, you will find all of the wallets on your account, listed starting with the ones that have coins in them.
Anytime you buy a cryptocurrency on the exchange, the order will reflect in the relevant wallet on this list.
To send TRX to the TRX wallet, click “Deposit” and you will be able to view your wallet address. Once you do, you can start trading TRX pairs on Binance.
Coinbase is another highly popular cryptocurrency platform. Unlike Binance, it supports the purchase of cryptocurrencies using fiat money through bank transfer and via credit card.
Another difference between the two is that Coinbase has been around much longer, since 2012.
Over the years, it has grown in scope and popularity to offer services in over 32 countries, to more than 12 million users.
At some point in 2013, it was the largest digital asset exchange platform as well as the highest funded BTC startup.
Opening an exchange wallet on Coinbase is rather straightforward. Here is what you need to do:
Step 1: Create Your Coinbase Account.
Go to Coinbase.com and create an “Individual” account.
Enter your full name, email address and set a password for the account.
Coinbase will send you an email. Open it and click the link to complete the account setup.
Step 2: Find Your TRON Wallet.
Once you login to your Bitcoin account, click “Wallets” to view your TRX wallet and others.
When you click on the TRX wallet, you will be able to view your wallet address.
Copy the wallet address and use it to fund your TRX account. Anytime you buy TRX coins, they will reflect here.
Exodus wallet is a software wallet designed for the desktop. It has however recently extended its support to iOS devices as well.
The wallet sports a user-friendly interface and is a great choice for beginners. It has been around since 2016 and is the brainchild of JP Richardson and Robert Castagnoli.
In addition to supporting more than 100 digital currencies, it can also display portfolio balances in at least 30 fiat currencies.
Other than the crypto wallet, the platform also has a built-in crypto exchange and a portfolio tracker.
Step 1: Download Exodus.
Start by downloading the wallet from Exodus.io and following the prompts to install it to your desktop or iOS device.
Step 2: Open Your Exodus TRON Wallet.
When you log in, click “Wallet” to view your TRX account. When you do, you will be able to view your wallet address, balance and other details.
Guarda wallet is yet another software wallet, but unlike Exodus, it is designed for mobile use. It currently supports Android devices with iOS support on the way.
Though it initially started out with support for only three coins, ETH, BTC and ETC, it has gradually expanded its offering to cover other coins including TRX.
Users of this wallet retain full custody of their private keys. In addition to having a built-in exchange, it also supports credit card purchases.
Follow these steps to create your own Guarda TRON wallet:
Step 1: Create a Guarda Wallet
Go to Guarda.co and click “Create a Wallet” and then on the welcome screen, select “Create New Wallet.”
Backup your wallet so that you can restore your account and the funds in it if you ever lose access to it.
Step 2: Access your TRON wallet
Once you open your Guarda account, your TRX wallet will already be active. Open the wallet to find your address and start sending and receiving TRX coins.
Best TRON Wallets in Your Country
Though there are lots of solid TRON wallet options for UK residents, our top pick is Coinbase.
Unlike most other wallets which operate in the region, Coinbase is licensed and secure.
This in itself makes it one of the safest wallet options as it is subject to strict scrutiny from the relevant authorities to ensure compliance.
At the moment, users have plenty of options when trading both cryptocurrencies and CFDs on the platform.
Another point in its favour is that in its years of existence, it has garnered lots of experience, enhancing reliability and other positive features.
Coinbase users based in the USA can use their service to buy and store cryptocurrency, with the security that the company is licensed.
In Australia and New Zealand, Binance is one of the most popular wallet service providers. Though it is a reliable choice, we would not recommend the use of hit exchange wallets for long-term storage of your DOGE.
It is safer to opt for cold storage facilities when storing your coins for an extended period. But you can leave a sufficient amount of coins on the hot wallet for trading purposes and possible purchases.
Differences Between Exchange, Hardware and Software Crypto Wallets
In order to choose the most suitable and secure wallet for your personal needs, let us examine the different types of wallets, their strengths and weaknesses:
Exchange Wallets
TRON crypto exchange platforms usually provide wallets, giving users facilities for storing the TRX they purchase.
However, these facilities are only meant for short-term storage since they are vulnerable to hacking. You should never store your TRX for extended periods on these hot wallets.
Here are our favorite TRON exchange wallets:
- Binance Wallet
- Coinbase Wallet
Hardware Wallets
TRON hardware wallets are cold storage options that offer tons more safety than their hot counterparts. One of the key factors contributing to their safety is the fact that they are almost always offline.
They might on occasion connect to the internet for funds transfers. But this only takes seconds or minutes. For as long as they remain offline, they offer matchless safety and are among the safest wallets.
Though there are many different hardware wallets to pick from for your TRX, always make sure that you only buy from authorized dealers to avoid getting a counterfeit.
Here are some good examples of TRON hardware wallets:
- Ledger Nano S
- Trezor
- KeepKey
Software Wallets
TRON software wallets are basically apps that store TRX on your PC or mobile device. These have accessibility as their main advantage.
Though they are more secure than TRON exchange wallets, they are not as secure as hardware wallets. It is advisable to keep only a small portion of your TRX on these wallets for transaction purposes.
Here are some good examples of TRON software wallets:
Best TRON Wallet on Mobile
Best TRON Wallet Apple
For Apple device users, one of the best wallets for TRON is Exodus. It is a highly versatile wallet with an intuitive interface and tons of features.
It has been around long enough to create a solid reputation and has a reliable track record.
Another great choice would be the Coinbase wallet which is licensed and thus more secure.
Best TRON Wallet Android
Our top recommendation for Android users is Guarda. Guarda has a simple and easy to use design as well as a reputable name in the industry.
There are hundreds of TRON wallets available on mobile devices. Most of them are not worth your consideration. Here are the things to consider when choosing Apple and Android crypto applications:
Apple
- Only compatible with Apple apps
- Many crypto apps are instantly banned by Apple due to T&C violations
- Apps from anonymous publishers will not be accepted
Android
- Android is application-agnostic
- All apps appear in the Play Store, even the scams
- Android apps can mine certain cryptocurrencies
Admittedly, there are lots of viable alternatives when choosing a TRON wallet. Each of these comes with its strengths and weaknesses and could leave you confused.
Take your time and carry out the necessary research before settling for any of these options. An important resource that could help you find information on any wallet is online forums like Bitcoin Talk and Reddit.
On these forums, users give candid hands-on experiences with various services and providers and can be a trustworthy source of information. Find out how well the support service of any platform handles user problems and make the right choice.
Most importantly, double-check the security of any platform you entrust with your hard-earned crypto before committing to it. Use these tips to choose wisely and enjoy your crypto experience.
More Cryptocurrency Wallets
FAQs
What is the TRON 20 token? How does it differ from TRX?
This is a token designed to hold value on the TRON ecosystem and allow content owners to create their custom coins on the platform. TRX, on the other hand, is the medium of exchange on the platform.
What is TRON Power TP?
TRON Power refers to the tokens users gain on the network from locking away their TRX coins.
Why did TRON lock up billions of tokens?
When TRON launched its mainnet, it locked up 33 billion TRX tokens as a security measure for the network. The tokens would be a stabilizing factor if the network ever got compromised.
Who are TRON super representatives?
These are bookkeepers in the network responsible for verifying transaction data and creating blocks.
What is the role of the TRON Foundation?
The TRON Foundation has the role of providing technical support on the network.
How do TRON users vote?
Voting on the network is based on the “One TRX, One Vote” philosophy to ensure fairness for all users.
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