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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.
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.
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 Providers
IQ Option has been in existence since 2013 and operates a trading platform for various assets. These include a wide range of cryptocurrencies, one of which is TRON.
The platform is regulated under the Cyprus Securities and Exchange Commission (CySEC) in the EU. Since its humble beginnings, it has expanded to have over 20 million users.
Here are the steps you need to follow to buy TRON from the platform:
Step 1 – Select the Amount
To get started, select TRON from the list of available digital assets and then enter the amount you want to spend in fiat.
That will show you the amount of TRON you will get based on the prevalent market rates.
Step 2 – Account Registration
Next, create an account on the platform. There are two ways to do this. The simplest option is to use your Facebook or Google credentials to create the account.
Alternatively, you can enter your email address and password to create an account from scratch.
No matter what approach you use, the system will automatically create a wallet for you. From this wallet, you can buy, sell, make deposits and withdrawals with ease.
You can also trade cryptocurrencies like TRON using the platform’s desktop, mobile or standalone app.
Step 3 – Buy TRON
After signing up, all you need to do is enter your card details and complete the purchase.
If you already have an account on IQ Option, buying TRON is much easier. Simply go to your wallet, select TRON from the list of cryptocurrencies and enter the amount you want to spend.
Next, click on your fiat balance to complete the purchase and you should have your TRON in no time.
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:
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 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:
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:
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
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.
TRON Power refers to the tokens users gain on the network from locking away their TRX coins.
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.
These are bookkeepers in the network responsible for verifying transaction data and creating blocks.
The TRON Foundation has the role of providing technical support on the network.
Voting on the network is based on the “One TRX, One Vote” philosophy to ensure fairness for all users.