As cryptocurrencies compete for the most efficient technology in the digital atmosphere, one cryptocurrency has maintained exponential growth and expansion unlike others; the TRON foundation, represented by the underlying cryptocurrency ‘Tronix’ (TRX). Buying Tronix, referred to as ‘buying Tron’ for short, enables you to partake in the various applications available within the Tron ecosystem, send and receive digital currency that is confirmed in very short intervals, and partake in an economy that is entirely digital. Buying Tron can be a complex process, especially for beginners in blockchain and cryptocurrency, and as a result, this guide will walk you through the easiest, most cost-efficient ways of buying Tron. Before you do go through this guide, you may want to have a look at our Tron price page to help you decide whether or not you want to buy it.
Compare Platforms to Buy Tron (TRX)
Tron is an overall foundation, a blockchain that promotes a decentralized and entirely digitized internet that is fueled by its underlying cryptocurrency ‘Tronix’ (Represented on exchanges and markets by the ticker symbol $TRX). This might be confusing at first, so let’s separate the two main entities involved: Tron is the blockchain as well as the company behind the Tronix cryptocurrency. Sometimes, however, Tronix the cryptocurrency is referred to simply as Tron for short. In any case, Tron as a cryptocurrency is like Bitcoin or Ethereum, in that it is a currency that runs virtually on a blockchain in an immutable form.
The Tron blockchain is different from Bitcoin and Ethereum, however, in that it can process thousands times more transactions per second than Bitcoin or Ethereum. This has been arguably at the cost of a bit more centralized internal system than other blockchains such as Bitcoin, where an even further level of decnetralization is incurred, however, Tron has become a valid contender for the top cryptocurrency spot in its ability to process thousands of transactions per second. Tronix can as a result be sent, received, and confirmed within just a finite amount of time.
Tron, similarly to Ethereum, enables developers to build decentralized applications (Known as DApps) on the Tron blockchain and offers incentives for those looking to develop on the blockchain. This means there are applications such as games, betting arenas, and even investment applications that are built on the Tron blockchain that combine the efficiency and protocol of Tron with the usability of the internet’s applications. These decentralized applications, while built on the Tron blocchain, are powered by Tronix (TRX) and are used as the fuel for these apps. When they are deployed or ineracted with, Tronix is being used.
Tron’s ecosystem enables immutability through online applications while emphasizing a thorough platform for people to develop and work with.
How to create a Tron Wallet
Best Platforms to Buy Tron
Buying TRON on CryptoRocket is very easy because the exchange boasts a remarkably user-friendly interface. You will be able to learn how to use it within a few minutes thanks to its simple design. TRX is available as a pair with USD but there are many other cryptocurrency you will be able to trade with, which we recommend doing because diversifying your portfolio is the best way to limit your potential losses.
Step 1: Registration
Registering on CryptoRocket is the first step you have to take to start trading TRON on it. The process is extremely simple. Just go on the official website and click on “Sign Up” at the top of the page. You will then see a registration form that you have to fill in with your name, password and email address.
Step 2: Opening Trading Account
Before you can move on to the deposit stage we recommend creating a demo account. To do that, you will have to go on the main page of your trading profile. At the bottom of the page you will see an “Open Trading Account” button. By clicking on it, you will be redirected to the trading space and will be given login credentials and the equivalent of 500,000 USD to trade in demo mode. Feel free to use as much as you want to gain familiarity with how the exchange operates.
Step 3: Deposit funds
When you feel confident enough to start trading for real, you can make your initial deposit. You will have to put at least $10 in your account or you will not be able to trade. You can pay via credit/debit card or Bitcoin. Do not worry about fees because the exchange does not charge any when it comes to deposits.
Step 4: Buying
Once you’ve made your deposit you can start trading TRX. To do that, you will have to switch to a real account. You can then access the trading platform and look for TRX in the asset list. You can then select it and begin your trading experience with TRON.
Binance is an exchanged owned by Changpeng ‘CZ’ Zhao that operates in Malta; it has become one of the more reputable exchanges to purchase Tron on, and it allows you to do so with credit card or with a base cryptocurrency such as Bitcoin. Buying Tron on Binance is convenient and fast and doesn’t require too much work due to the fact that the platform streamlines the process for you. You also don’t need to verify or validate your account for purchase of Tron, so it’s a fast option. Prior to getting started, ensure you have a valid form of deposit (Credit Card or cryptocurrency) and also have a working accessible email address.
Step 1: Register An Account
The first step to get started on Binance is to create an account to trade on. To get started with this, you’ll first need to head to the homepage of the site and find the ‘Log-in/Register’ sections of the website. Click on the ‘Register’ button, and the next page that you see will look relative to a form in the following setting:
From here, enter in a valid email address, as well as a secure password. Don’t share this password with anyone else, because the access to this account will yield access to your funds. Click submit, and you’ll then be asked to confirm the email address by clicking the link in the email that the exchange has sent you. This will verify your account.
Step 2: Deposit
The next step to buy Tron on Binance is depositing and acquiring a cryptocurrency that is paired to Tron so we can exchange it for TRX. This can be either Bitcoin, Ethereum, Tether, and more (These are the best, easiest ones, especially for beginners. Depositing on Binance can be done in 2 main ways; directly sending cryptocurrency to your unique Binance wallet, or by purchasing a base cryptocurrency that is paired to Tron using a credit card. Using a credit card on Binance is easy and straight forward. To get started, sign in to your account and on the navigation bar and the on the right-hand side click on ‘Funds’ then and from the drop-down select ‘Buy with Credit Card’.
The page that will appear is where you’ll indicate how much of the base cryptocurrency in mind that you want to purchase. Since Tron relative to Bitcoin is one of the most liquid (Fastest execution rate) pairs to buy Tron, we’ll use TRX/BTC (This translates to Tron exchanged for Bitcoin, for those who don’t know how pairs work). As a result, we need Bitcoin. At the ‘Buy with Credit Card’ page, you’ll see the following:
Specify how much you want to purchase and press ‘Buy Now’. Bitcoin will then be deposited to your Binance account after the payment is processed. Let’s go over the alternative way for deposit prior to advancing to the next step.
If you already own Bitcoin from an alternative source, you can deposit it to Binance immediately and use it to purchase Tron; the process is fairly simple, and in this case you don’t need any credit card.
If you already have prepurchased Bitcoin and want to purchase Tron, head over to your account navigation bar on Binance and hover over ‘Funds’, then from the dropdown menu select ‘Deposits’. A new page will appear and there will be a list of different cryptocurrencies for deposit and withdrawal. Use the magnifying glass found on the same page and find ‘Bitcoin’ Click on the ‘Deposit’ button located to the right of the listing.
The following image shows you where the deposit address for your Binance created wallet will be located. This will be a string of letters and numbers, and it will look like gibberish to you; that’s because it is, so don’t be worried. Press ‘Copy Address’ as indicated below, then navigate to where you’re currently holding your Bitcoin (Either another exchange, your own internal wallet, a hardware wallet, etc).
On your external wallet, or wherever you’re currently holding go to the ‘Send’ section. The interface will ask you to paste the wallet address that you copied over from Binance. Enter in the input field, specify how much Bitcoin you want to send, and press ‘Send’. After the appropriate confirmations, you should see that your Bitcoin balance has now been updated to reflect however much you sent from the third party wallet.
In both instances, you’ll be able to purchase Tron within the next steps; the main takeaway from this step is that we want to fund our account either by a direct BTC deposit or credit card purchase.
Step 3: Purchasing Tron Through the Markets
Assuming that you’re logged in to your account and have successfully funded your Binance account, you can now move to the next step which is actually buying TRON (TRX). To start, look on the navigation bar and on the far-left side, hover over ‘Exchange’ and then select ‘Basic’ from the drop down menu – the advanced exchange selection is used for more complex charting and order types that you can use once you’ve gotten the hang of the basics. Upon clicking the ‘Basic Selection’ you should see that a plethora of charts and tabs are now open. Don’t be overwhelmed – simply head over to the magnifying glass on the right-hand side and type in TRX under the BTC Markets tab as such:
Clicking on this will load up the Tron price chart relative to Bitcoin. What we need to do now is buy TRX from the cryptocurrency markets as provided by Binance. In order to do this, we’ll simply need to scroll down on the new page we’ve just loaded up and find the ‘Buy TRX’ square. Underneath, you’ll see the choices ‘Market’ or ‘Limit’ order. We’re going to place a market order, which is just an order type that executes at the next best available price. All we’ll need to do in the input fields is specify how many TRX we want to purchase (You can use the inclusive tool to calculate how much you can afford with your Bitcoin, you can press the ‘100%’ button as indicated in the image which will spend all your Bitcoin on buying TRX at the next available price.
After you’ve specified how much TRX you want to buy, press ‘Buy TRX’ and wait for order execution (Usually instant) – once completed and processed, check your new Tron (TRX) balance and you’ll see you’ve successfully bought Tron.
Coinbase is a San Francisco headquartered cryptocurrency exchange, cryptocurrency retail service provider, and privately held company that is best known for its emphasis on regulation and compliance. Coinbase currently does not enable direct purchase of Tron at this moment, however, you can purchase Bitcoin through Coinbase and then transfer it to Binance or another TRX supported exchange if you’d like. To do that, all you’ll need to do is create an account, link a valid deposit method, and then go to ‘Buy’ and find Bitcoin. Purchase your Bitcoin and then press the ‘Withdraw’ button and input the deposit address for another exchange that supports Bitcoin purchases.
The idea of Tron getting listed on Coinbase is absolutely possible. Coinbase has maintained its stance that it will only list assets that are validated and are seemingly compliant under the United States legal framework, and Tron has hired multiple former SEC litigators and legal consultants to attempt to partake in the global currencies market.
Although not currently listed on Coinbase, be wary of those who claim they know how to get Tron directly off Coinbase, as these could be potential scammers and are best to be avoided. Always check the official Coinbase website and their official support team if you have questions about their listed assets.
Buying Tron in Your Country
Those in the UK will find that there are very limited restrictions, if any at all, for purchasing Tron. UK residents have a few options if they’re looking to purchase Tron (TRX). If you want to purchase Tron as the underlying asset (Buying, not selling) you can utilize Binance. Binance offers a hybrid financial product offering in that they offer the purchase of CFDs for Tron as well as actual purchases for Tron.
Tron is luckily not restricted in the United States and Canada according to current legislations and laws. Tron can be purchased through Binance very quickly and easily. Binance is a great option if you’re looking to trade Tron CFDs within the United States. You have to verify your profile and provide the appropriate documenation in order to move forward, however. [/su_tab]
Tron can be purchased in Australia fairly quickly through Binance if you’re looking to purchase the underlying asset. Binance is in accordance with Australia’s overall laws as far as financial services firms, it may be best to trade with Tron.
Differences Between Buying and Trading Tron
- You are in possession of Tron (TRX) and can use it as a payment method for online transactions
- Buying Tron is typically associated with usage of the actual asset, or with longer term holds (Multiple years)
- When Tron is bought, you can send it to any other Tron wallet around the world, since you’re in control of the actual currency and not just its price representation.
- Purchasing Tron means you can use it for development purposes and for smart contract instantiation if you are a blockchain developer
- Trading Tron (Through contracts or most commonly through CFDs) does not expose you to Tron as an asset, rather just the contract that represents Tron price.
- Trading relies heavily on speculation about price movements, and is not associated with purchasing the asset for actual intended usage such as for online payments
- Traditionally fees are associated with trading, especially trading contracts, that accrue daily for however long the trade is held
- Higher risk is in many cases imposed with trading
How to Buy Tron with Different Payment Methods
The easiest way currently to buy Tron using a credit card is through Binance, which can be done very quickly. In order to do this, you’ll need to register for a Binance account (As we indicated and instructed above in the Exchanges section). Once registered, head over to the navigation bar on Binance (The top dark grey bar) and hover over the ‘Funds’ section. A list of options will then drop down, select the option at the bottom which says ‘Buy with Credit Card’.
After selecting this option, you’ll be redirected to a new page where you’ll have the option to buy a variety of different ‘base’ cryptocurrencies (Cryptos that are paired as the base currency to other cryptocurrencies). Select either Bitcoin or Ethereum from the dropdown of this selection (As they are the most liquid options for purchasing Tron) and then enter in the quantity of funds that you want to spend for your purchase of Tron (We’re not buying Tron just yet, just the base crypto first). Then press ‘Buy’ and wait for the execution of the trade, and once this is done you will see that either Bitcoin or Ethereum (Whichever one you’ve chosen) will be updated in your account balance.
Then, navigate to the markets the same way as instructed in our Binance portion of this guide, enter in the quantity of Tron you want to purchase, define either a market or limit order (We recommend market orders for absolute beginners to get their hands on Tron as fast as possible), and press ‘Buy TRX’. Upon execution, you should now have successfully purchased Tron using a credit card on Binance.
Keep in mind, Binance also supports credit card usage – Binance can be used for a purchase of actual TRX and TRX CFDs.
Using PayPal to purchase Tron can be done in 1 of 2 options (Depending on your jurisdiction as well as account type) – you can utilize Binance for a purchase of both Tron and Tron CFDs using PayPal. Binance enables you to buy Tron on their platform using PayPal, but there are a lot of jurisdiction restrictions, so it’s best to review those and assure you’re good to go prior to moving forward.
In order to purchase Tron via PayPal on Binance, as instructed in the above Binance tutorial, go to ‘Deposit Funds’ and from the drop down that offers a selection of different deposit methods choose PayPal; it will ask you how much you would like to deposit as well as which currency. Enter in the appropriate parameters, and you’ll be able to then move forward. You’ll be asked to verify your account as well as confirm the transaction, and once the processing is complete, you’ll have successfully deposited funds from PayPal to Binance.
The next step is manuevering to the ‘Trade Markets’ tab and finding Tron and specifying your amount type and order (See above for further instruction). Upon execution, you’ll have successfully purchased Tron using PayPal.
You can use Bitcoin to purchase Tron by creating a Binance account and navigating to the ‘Funds’ tab and clicking ‘Deposits’ from the drop-down menu. On this menu, you’ll then be able to search for Bitcoin or ‘BTC’ and select it from the drop-down. Doing so will create a unique Bitcoin address; send your Bitcoin to this address, and after the proper amount of confirmations and processing, your deposited funds will be relative to your account balance.
Once deposited, navigate to the markets by clicking ‘Exchange –> Basic’. Then, on the right-hand side, use the magnifying glass by the BTC markets section and search for ‘TRX”. You should see TRX/BTC – go to ‘Buy TRX’ and use the slider to adjust how much of your funds’ worth you want to purchase. On execution, you’ll have bought TRX with Bitcoin.
You’ve just learned how to buy Tron, how to buy it on different exchanges, how to buy a Tron CFD, as well as the ins and outs of what Tron is and how it can be used in your cryptocurrency and blockchain portfolio.
Our top pick amongst best services to purchase Tron on is Binance. Binance is regulated and registered, so it maintains a level of security and safety that not many other exchanges are able to offer as far as account insurance and fund protection. It also allows for purchase of Tron and Tron CFDs.
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What's the difference between Bitcoin and Tron?
Tron and Bitcoin are both cryptocurrencies that run on a blockchain, however, their technological structure and fundamental purpose are quite different. Bitcoin is aimed at being a decentralized and instant form of payment for users around the world. While Tron encompasses a similar concept, there is an additional layer to Tron that enables the development and utilization of decentralized applications, programs that are built on the blockchain. Additionally, Bitcoin maintains a lower throughput as far as transactions per second while Tron maintains a very high amount (This means Tron is faster than Bitcoin) - however Bitcoin is arguably more decentralized than Tron. Each has their prospective positives and negatives.
Who Created Tron?
Justin Sun is the CEO and founder of Tron (TRX). He worked at Ripple (XRP) before branching off and creating his own cryptocurrency. The cryptocurrency was launched in 2017 after a successful ICO.
Is Tron Legal In My Jurisdiction?
Jurisdiction-based legislation is consistently changing, especially with cryptocurrencies and blockchain technology. It's best to check with valid sources to see if Tron is restricted in your area. In most major areas, tron is currently legal.
Can Tron Make Me Rich?
In 2017 leading to 2018, Tron made thousands of people rich, because of its almost unbelievable price rise. Tron went from its ICO price (Which was below $0.01) to over $.27 in the course of just a few months. This was one of the fastest price rises in an asset and demonstrates that although the rise was short-lived, Tron has in fact made people rich before. Prior performance doesn't indicate future results, however, if you bought in at ICO time (Which was in 2017), by 2019, you are still up over 400% on your investment which is quite impressive.
Is Tron a Good Long Term Investment?
Tron is interesting in their long term model in that they are not like most other cryptocurrency or blockchain projects that plan milestones and roadmaps for a few months to years ahead; their roadmap consists of nearly decade long Phases. This means that Tron aims at improving the online market for digital currencies throughout the course of multiple decades; arugably, this makes it more focused on long term growth than short term.