How to Buy Tron (TRX)
TRX is the token of the Tron blockchain.
Step 1:Choose An Exchange Or Wallet
TRX can be purchased through a variety of traditional centralized exchanges. The token can also be purchased through supported wallet apps or through DeFi (decentralized finance) exchanges.
Step 2: Decide On The Amount You Want To Purchase
After signing up for your exchange of choice, you will need to fund your trading account using a credit card, bank account, or through another wallet.
Once you have some funds in your account, select how much TRX you would like to buy and complete your purchase.
Step 3: Store, Transfer, Or Use Your TRX
The Tron ecosystem is a fully-fledged blockchain where you can use your TRX for governance, staking, trading, and much more.
After your purchase, your TRX tokens will be stored on the exchange that you used to complete your purchase. You can transfer these tokens out, however, by sending them to another wallet address — whether that be a private wallet of yours or an account at another exchange.
Where To Buy TRX
Tron is fairly well supported and can be purchased at many of the most popular exchanges:
4.6
Pros
- Wide range of features like crypto trading, stock trading and staking all on one platform
- Offers 8% cashback with Crypto.com's debit cards
- Available in the U.S.
Cons
- High withdrawal fees
- Have to hold $CRO for high rewards
- Sports betting on the NFL and NBA 🏈
- Crypto baskets to easily diversify your portfolio 🧺
- Stock trading straight from Crypto.com account 💲
Available globally, Crypto.com is a crypto exchange that also offers a range of products including (but not limited to)crypto debit cards, stock trading, and staking.
4.5
Pros
- Wide range of features like trading, staking, NFT marketplaces on one platform
- Lower trading fees than most exchanges
Cons
- Not available in the US
- OKX Wallet: Offers a non-custodial wallet that supports Ethereum, Solana and BNB Chain.
- OKX Earn: Fixed-term savings accounts to earn passive income on crypto holdings.
- Integrated TradingView:Professional-grade charting tools within the platform.
Available worldwide (except for the U.S.), OKX bridges the gap between centralized exchanges and the DeFi world with its multi-chain Web3 wallet.
4.3
Pros
- Earn up to 12% APY on crypto and fiat savings
- Offers credit card that gives you cashback in $BTC
Cons
- Not available in the US or Canada
- High interest rates often require staking $NEXO tokens
- Nexo Credit Card:Rewards of up to 2% in $NEXO or 0.5% in $BTC
- High-Yield Savings Accounts:Daily interest payouts with no lock-in period.
Nexo is a top choice for borrowing and lending, offering high-yield savings and instant crypto-backed loans with the convenience of its Nexo Card.
Honorable mentions:
TRX Crypto Overview
| TRX | Tron | Justin Sun | Justin Sun | 2017 | Funded through an initial coin offering (ICO) |
Why Does Anyone Buy TRX?
Tron was initially created to help online content creators earn more from monetizing their audiences. Over time, though, the Tron network has become a fully-fledged blockchain that’s giving popular blockchains like Ethereum a run for their money. The blockchain remains true to its roots and focuses on decentralized peer-to-peer storage and file sharing.
- TRX is one of the top 20 cryptocurrencies by market cap.
- The Tron network currently has 137 million users and has facilitated close to 5 billion transactions.
- Tron acquired popular peer-to-peer software BitTorrent in 2018, which brought 100 million users to the Tron ecosystem.
- The Tron ecosystem also maintains the USDD stablecoin, which is one of the top 10 stablecoins.
Is TRX Being Used?
The TRX token is used for everything on the Tron blockchain including staking, deploying smart contracts, reaching consensus, and participating in governance. Unlike many other top blockchains whose tokens are in the dozens or hundreds of dollars, TRX is less than $1 and is thus more accessible to investors.
- TRX offers an average of 3.59% in staking rewards.
- TRX is used to acquire “energy” which is then used to execute transactions on the Tron blockchain.
- TRX is necessary for participating in the delegated-proof-of-stake (DPoS) consensus mechanism of the Tron blockchain.
- Holders of TRX can participate in governance and make decisions about the future of the network.
Key Events For TRX
- January 2023: Crypto investor Justin Sun says willing to spend up to $1 billion on DCG assets
- January 2023: Tron's Price Sinks 8%, USDD Depegs Amid Drama at Justin Sun-Related Huobi Crypto Exchange
- November 2022: Crypto Exchange FTX Enables Withdrawals of Tron-Based Tokens from Platform in the Midst of Collapse
- May 2022:Peak Irrationality? A New Clone Of The Failed TerraUSD Stablecoin Has Surpassed $550 Million In Market Cap
Discover Similar Tokens
- EOS (EOS): EOS is an all-in-one blockchain with smart contract features similar to blockchains like Ethereum. EOS is similar to Tron because both blockchains use a delegated proof-of-stake (DPoS) method of consensus in which a handful of trusted token holders are used to validate the blockchain transactions.
- Tezos (XTZ): Like Tron, Tezos is a blockchain network that has been called a competitor to major networks like Ethereum. Tezos supports smart contracts and is secured by a proof-of-stake consensus mechanism. Tokenholders can also vote on proposals for the future of the network.
- Ethereum (ETH): Ethereum is the largest smart-contract-enabled blockchain and the second largest blockchain by market capitalization. Tron has been viewed by some as a competitor to the Ethereum chain due to its faster settlement times, no transaction fees, and other features.
Frequently Asked Questions
TRX reached an all-time high price of $0.173 per token on January 6th, 2018.
The cryptocurrency surged during a time when it was covered in the press as the new kid on the block and a potential competitor to coins like Ripple and Bitcoin. Tron has not surpassed its previous all-time high since.
Tron is a divisive project in the cryptocurrency world. Its status as an important token is indisputable due to its top-20 rank. Justin Sun, the founder of Tron, has built a base of true believers and the Tron project has delivered new features regularly.
Still, some crypto analysts point to shaky token economics, regulatory questions around the TRX token (which some consider a security), and previous scandals about plagiarized code as reasons to be cautious when holding TRX. Ultimately, there is no way to know if TRX will be a good investment long term.
Yes, most of the exchanges that support TRX allow you to fund your account with a credit card.
Check out exchanges like Uphold.com, eToro, and Kraken to purchase TRX with a credit card.
US residents can purchase TRX through exchanges such as Uphold.com, eToro, Kraken, and others.
There are currently no special restrictions on purchasing TRX in the USA, although there have previously been concerns that TRX works like a security and may one day be declared a security in the US.
TRX is not supported by PayPal.
At this time, PayPal only provides Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for purchase.
It may seem off-putting at first that TRX trades at under 10 cents when many other cryptocurrencies are trading in the thousands of dollars.
However, this is a feature of the number of TRX tokens that exist — since there are so many tokens, each TRX token is not worth a lot.
A better comparison between the sizes of cryptocurrencies is to look at market capitalization. For example, Tron’s market capitalization is around $5.5 billion. Ethereum’s market cap, meanwhile, is around $200 billion. In this comparison, we can see that Ethereum is only 40x bigger than Tron, even though the Ethereum token normally trades at around 25,000x the price of Tron.
Several times during 2022, and into 2023, Tron’s stablecoin, USDD, depegged from the $1 mark.
The USDD stablecoin is meant to be pegged 1:1 to the value of the dollar. Unfortunately, due to broader market conditions and negative investor sentiment, the USDD stablecoin has depegged and is worth only about $0.97 per dollar. The Tron ecosystem is deploying capital and taking measures to return the peg, but they do not have full control over how the market reacts.
It’s important to note that USDD and TRX are different tokens. If you are only looking to invest in TRX, you are not affected by the USDD depeg, though, if the depeg gets worse, it will likely have a negative price impact on the TRX token.
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