What is TRON ?
Tron is one of the top cryptocurrencies currently available, being designed to accommodate content creators. In this Article, we will discuss in depth on how to store TRON using types of TRON wallets.
Using the Tron application, content creators are fully compensated for providing their content, allowing users from across the globe to access said content without a middleman, such as Google Play or the Apple Store. It can also be used to store and own data free of charge.
Using the Tron application requires TRONIX (TRK), a cryptocurrency token commonly referred to as Tron. Buying Tron is easy enough to do, but it is important that you store your tokens to ensure they remain safe potential security threats.
While it possible to store your Tron tokens on the marketplace you purchase them, this isn’t always free from risks – some sites may get hacked meaning you could lose your tokens. Instead, you should look to download a suitable Tron Wallet to store your tokens.
TRON Wallet Options
For anyone wondering how to store Tron, the first step to take is choosing a Tron Wallet. This is necessary for safe and secure storage, and you need to choose a wallet that is compatible with TRK.
While there is no official Tron Wallet, the current wallets can be used to store TRK
Ledger Nano S – A hardware wallet that can be used to store the world’s leading cryptocurrencies, including TRK.
Trezor – Another great hardware wallet for storing TRX, very secure from hacks and malware
My Ether Wallet – One of the most popular online wallets, it’s free and easy to use, although doesn’t offer the same degree of security as hardware wallets.
MetaMask – An online Ethereum wallet that stores TRK
How to Store Tron Using Ledger Nano S
For this example, we are going to explain how to store Tron using Ledger Nano S.
Ledger Nano S is a hardware wallet, meaning you must purchase the device to store cryptocurrencies.
It’s a small one-time investment that we cannot recommend enough, as it offers one of the safest, more secure ways to store TRX and a variety of other cryptocurrencies.
Step One: Setting Up a Ledger
Before moving any currency on the Ledger, you will need to first purchase it from a verified seller, and then set it up.
It sounds daunting but is easy enough to do – check our guide here for how to set up your Ledger S Nano
ADD LINK TO FUTURE GUIDE? IT SEEMS WORTH CREATING A SPECIFIC GUIDE, AS THIS LEDGER IS A COMMON WAY TO STORE VARIOUs CRYPTOCURRENCIES, SO WE CAN LINK TO VARIOUS OTHER GUIDES IN THE FUTURE – JOSH)
Step Two: Enabling Settings
Once you have set up the Ledger wallet, go to the Ethereum application and select the settings option.
Enable CONTRACT DATA and BROWERS SUPPORT settings.
This means the hardware wallet can work with your web browser when using My Ether Wallet, which is needed to store TRX on the device.
Step Three: Visit My Ether Wallet
Now go to MyEtherWallet after enabling the required settings on your Ledger wallet. Take the time to bookmark this website as you will be using it a lot to transfer and store cryptocurrencies such as TRX.
Always ensure it is an official My Ether Wallet website you use, otherwise you run the risk of being hacked and losing your tokens.
Step Four: Choosing an Address
On the website, choose SEND ETHER and TOKENS tab, selecting LEDGER WALLET.
Select CONNECT to LEDGER WALLET (in blue), after which a pop-up will appear. This should show a list of Ethereum addresses that are on the Ledger.
Now choose the address where you want to store the tokens, selecting the UNLOCK WALLET option when ready.
Step Five: Copying the Address
There should now be an account address on the screen, which you need to copy.
If you are unsure whether the address that is copied is the same as the one created on your ledger then select the DISPLAY ADDRESS LEDGER button.
Using this address, you can now store your TRX tokens onto your Ledger.
Step Six: Transferring TRX
Assuming you have purchased your TRX tokens already, its just a case of moving them to this newly created Ethereum address stored on your ledger.
Simply go the coin exchange site or wallet you are currently using to store the TRX, choose to send the currency option from there, and copy the address from your ledger.
All your TRX tokens should then safely stored on one of the best hardware wallets available.