Being a blockchain based open source cryptocurrency; TRON is focused on the decentralized entertainment aspect of the peer to peer blockchain technology. It aims to eliminate middle men by directly compensating content creators for their shared contents. In the guide below we will learn how to buy TRON (TRX).
TRON has created a distributed storage facility where content creators can upload and share their contents to everyone connected to the internet, and this is an attempt to eliminate the need for large global sharing giants like the Google Play Store, Apple Store etc to give the content producers access to receive funds directly from the consumers for their contents without middlemen.
A native coin called Tronix (TRX) is integrated into the TRON platform as the official means of value exchange between its users. We would be looking at ways to purchase this coin or token.
Where to buy TRON (TRX)
Before we go into detail on where to buy TRON, it is imperative to mention that you need to first have a wallet to store the TRX coins you would purchase. There are many hardware wallets where you can store TRX and since TRX is an ERC 20 token, hardware wallets like Ledger Nano S, Trezor would be suitable as they support the Ethereum blockchain on which TRX token is built on.
Exchanges to Buy TRX
There are a lot of exchanges to buy TRX from and these exchanges includes but are not limited to:
We would now go through the steps on how to buy TRX from these exchanges. If you already have Bitcoin, Ethereum or other cryptocurrencies in your wallet and you want to exchange them for TRX then the process is a pretty straight forward one. But if you do not have Bitcoin or any other cryptocurrency and would want to buy TRX, the following tips would be quite informative and helpful.
Step 1 : Sign up with an Exchange
You can sign up with any of the above listed exchanges and once you are done signing up;
Step 2: Fund your Account
After your sign up, it is now time to fund your account either by making a bank deposit of the amount you want your account to be funded with or through your credit cards.
Now that you have chosen an exchange either Binance, HiTBTC, Yobits or Gate.io etc and you have funded your account. The USD amount you funded your account with will be converted to the Bitcoin or Ethers equivalent on the exchange. Once that is done, you can exchange or convert them to TRX. We would go through the steps for each of the listed exchanges.
How to buy TRON on Binance
After you must have gone through the signing up process and had your account funded, and also converted the USD equivalent to Bitcoin or Ethers, it is now time to convert them to TRX.
- Log into your Binance account
- Click on “Exchange”, you will find and click on the TRX/BTC or TRX/ETH depending on whether you converted your USD to either Bitcoin or Ethers.
- A chart will load showing the price a TRX would cost in Bitcoin.
- Input the amount of TRX you want.
- Then click on the “Buy TRX” button and voilà you just bought TRX.
How to buy TRON (TRX) on HiTBTC
Once you have signed up and funded your account, the process is almost the same across most of the exchanges.
- Log into your HiTBTC account
- Click on “Exchange” and select either Bitcoin or Ethereum and find and select TRX/BTC or TRX/ETH.
- A trading view will open, click on the buy and sell section.
- Place your buy order and then you are all done.
These processes above are almost the same across the various exchanges. Follow this steps and buying your TRX would as easy as it gets.
Where to Store TRON ?
You may leave your coin on an exchange; which is why it is advisable to go for the trusted platforms or you may move your coin to a more secure hardware wallet (hardware wallets guarantee a level of security exchange platforms cannot assure you of).
TRON is a fast rising cryptocurrency and the reason is not farfetched. Gradually, it has and is still rising among the ranks of cryptocurrencies and as we all know it, the entertainment industry is one with endless opportunities, this being only a fraction. If you are thinking of investing, the time is now!