How to buy Tron – The Complete Buyers Guide
In this guide on how to buy Tron coin, we will walk you through the different steps you need to take for buying the cryptocurrency (TRX). We will talk about the different options that are available so that you can easily make a decision which suits you the best.
We will also briefly explain what Tron is, how it works and why it might be worth investing in.
The steps for buying Tron coin are not that hard and with this guide, we will make it even easier for you to buy it. We will go through all the steps, the payment methods and where you can easily buy Tron in no-time.
How to buy Tron options
- Buying Tron On Binance
- Buying Tron with a Credit Card or Debit Card
- Buying Tron with Bank Transfer or Wire Transfer
- Buying Tron with PayPal
- Buying Tron with Skrill and Neteller
Tron is popularly known as a decentralized platform that has been structured to streamline the spread of multimedia content and apps between consumers and creators.
Similar to coins like DragonCoin and Ethereum, Tron is being powered by prominent blockchain technology, and it backs up both decentralized applications and smart contracts.
What Is Tron?
The native virtual currency of Tron is also known as Tronix and it is structured to be utilized for executing transactions on the Blockchain. But, it can also be used for other things asides from transactions just like Bitcoin.
Although, so many Blockchain projects focus on virtual currency transactions, Tron is also built to host media content. As well as, distribute this same media to consumers and also, operate dApps.
Nevertheless, it is a very ambitious Blockchain project that is formally aiming to switch into:
- A decentralized internet
- A virtual content store
- An app store, and;
- A virtual currency store.
Furthermore, the formal code of Tron that is being used in diverse trading platforms is TRX and, it is usually referred to as either Tron or Tron Coin.
Tron has gathered a lot of attention in recent years. Much due to its founder Justin Sun. Who we can easily say has a bit of a love or hate relationship from the crypto community.
The fact remains that, they are more than likely talking about the Tronix virtual currency and not the Blockchain this time around
You can always make use of the Exodus wallet. Note that Exodus is its most recent offering, and it is ideal for person to person distribution and the storage of contents.
Bear in mind that Exodus does not make use of Blockchain technology currently, but it makes use of a unique web-based file system protocol that backs a distributed file system.
Furthermore, it will be making use of a plan known as Odyssey, and it will be leveraging on the power of Blockchain. It will also comprise of financial incentives in a bid to promote the creation and the hosting of content on Tron.
Where To Buy Tron
In buying Tron, the steps involved include:
1 ) Select a Tron wallet
You should note that the Tron wallet actually used to be an ERC-20 token, and this means that it was kept in Ethereum’s wallet.
However, you can make use of the ledger hardware wallet that enables users to store their TRX safely offline. It is a multi-currency wallet that is compatible with roughly one thousand different assets.
2 ) Locate your TRX address
After getting your wallet, the next step is to get the Tron address. The Tron address is actually a long, strong comprising of numbers and letters that begins with a T.
3 ) Buy Tron on a Cryptocurrency exchange
Even though TRX has a market capitalization that is running into billions of dollars, the trading pairs for TRX are actually with coins like Bitcoin and ether.
However, if you are wondering where to buy TRX with a Fiat currency, you have just two good options, which include buying Tron via Binance.
Nevertheless, you can purchase Tron on various exchanges such as:
Finally, the last step involves withdrawing the TRX to your own wallet. This is because storing your coins in a crypto exchange is not safe. They are susceptible to hacks or can even close down completely.
Buying Tron On Binance Exchange
Now that you are aware of how to buy Tron and where to buy Tron, we can give you the details on how to buy Tron on Binance exchange.
Note that Binance has managed to successfully make its debut as one of the highly rated and prominent crypto exchanges.
When you want to buy Tron in Binance, you will have to create your account on this exchange. When you are done signing up, you can easily locate the deposit addresses for both Bitcoin and Ethereum.
It can be located by going to your navigation bar, moving towards the funds, and clicking on deposits.
The next step is to input the name of the currency you want to deposit, and then, the deposit address will be displayed.
You are to copy the address of the currency you just bought. And, once the currency arrives at Binance, you will have to go to either the BTC/TRX or ETH/TRX trading pair.
It all relies on whatever currency you first bought or owned. If you want to locate all of these pages, you can move to the main page on Binance and easily click on either Bitcoin or Ethereum tab.
You can then input TRX in your search bar. From this point, you can easily enter either a limit or a market order at the end of the page.
If you never knew, the market orders enable you to purchase any amount of currency at its going rate.
As for limit orders, they allow you to specify conditions and will be executed once these conditions are met.
How To Buy Tron With Debit Card And Credit Card
As it stands, the Tron virtual currency cannot be bought directly with your debit or your credit card. What you will need to do is to purchase either Bitcoin or Ethereum with the card, be it debit or credit.
This purchase can be made on an exchange like CoinBase, and the next step is to transfer the Ethereum or the Bitcoin to any of the exchanges that trade Tron such as Binance.
Buy Tron With A Bank Transfer Or Wireless Transfer
In a bid to purchase Tron with either a bank transfer or a wireless transfer, you will need to, first of all, buy Ethereum or Bitcoin.
It can be done on any Fiat exchange with the aid of your bank account. Also, it can be correctly done on exchanges such as CoinBase.
Immediately the currency arrives in your wallet; you can easily transfer it to any exchange that sells TRX like Binance.
Buy TRX Paypal
You can surely buy Tron with PayPal but, it demands that you purchase Bitcoin on the exchange Virwox first of all with PayPal balance. Next is to send the Bitcoin to any exchange you want to buy TRX from like Binance or Changelly.
Buying TRX With Skrill And Neteller
As expected, you can only buy Tron by, first of all, purchasing Ethereum or Bitcoin. They can be bought with Skrill and Neteller om Bitpanda.
When you purchase any of the virtual currencies, i.e., Bitcoin or Ethereum, you can send them to Changelly, Binance, or Huobi to buy TRX finally.
Where to store your Tron TRX
After buying some TRX you should look into storing it somewhere safe. Storing them on a cryptocurrency exchange is not recommended for the long-term.
You can more safely store your TRX at both Tron developed wallets or community developed wallets, find out more here.
You can also store Tron on Ledger wallet, learn more about it here.
Conclusion
Tron has always been able to capture the interest of lots of virtual currency investors. Although, it still does not show similar signs of acceptance like Bitcoin or Ethereum. So, the currency still has quite a long way to go.
Note that, it is still among the hardest altcoins to purchase because most of the prominent wallets are not in support of it yet.
You can learn more about Tron at their website, or over at Tron TRX Reddit page here.
Find other guides on buying cryptocurrencies
Written by:
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier
