How To Buy Tron Online in 2022
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Tron is a risky yet attractive cryptocurrency that is yet to go through a Bitcoin-style boom but could still be an interesting purchase for crypto traders. This coin is the native crypto token for the Tron network, an operating system that lets you create decentralized apps, and share videos, and similar content. This article will consider everything you should know before buying Tron. We’ll discuss the difference between buying and trading Tron, payment options, and crypto-wallets.
Best Brokers to Buy Tron In 2022
Tron is sold on fewer brokerages. However, you can still sign up to several platforms that carry this particular cryptocurrency. Check out the features, fees, and rates below.
What Options Do I Have When Buying Tron in the United States?
The most popular options to buy Tron include:
For many buyers, a crypto exchange is the number one way to purchase any cryptocurrency, including Tron. You can link your crypto wallet to your exchange account and buy TRX coins directly from the exchange. Each exchange will set its own exchange rate, which is usually in line with the current value of Tron, with a percentage added on for the exchange to take a commission. You can pay via different methods and use either fiat currencies or cryptocurrencies.
While an exchange lets you purchase Tron directly from their service, a broker will act as an intermediary, pairing you with sellers on the market. As a result, you can usually compare prices and find the best deal using a broker. Depending on the broker, you’ll either have the option to buy Tron with fiat and/or other cryptocurrencies. A broker will often have an easy-to-use interface as well.
P2P Marketplaces (Decentralized Exchanges)
Some buyers prefer to use P2P marketplaces, where you deal with a seller directly. The seller will set their own price, and both parties will reach an agreement to which they are happy to complete the transaction.
What Is The Difference Between Buying And Trading Tron?
The key differences between buying and trading Tron include:
When you buy Tron: You own the asset. You can buy Tron coins to diversify your crypto portfolio, earn a profit, or use them to pay for decentralized entertainment services on their native blockchain.
When you trade Tron: You’ll own a contract rather than an underlying asset. Many traders use this method to make a profit. You cannot trade CFDs (contracts for differences) in the US.
How to Buy Tron Online?
If you are buying Tron online, follow these suggestions:
Step 1: Find an exchange
Step 2: Create an account
Step 3: Deposit funds
Step 4: Purchase your Tron coins
How to Trade Tron?
If you would prefer to trade Tron assets rather than buy them, you’ll have to follow these steps instead.
Step 1: Find a trading platform
Step 2: Sign up for an account
Step 3: Deposit funds
Step 4: Start trading
Where To Buy Tron (TRX)?
While TRX may not be as popular as Bitcoin, or Ethereum but you can still find it on many exchanges and brokerages. Some of our top options for new and experienced crypto traders include:
If this is your first time buying crypto, you’ll want a user-friendly platform to show the ropes. These include:
Coinbase is a reliable and easy-to-use exchange that is beginner-friendly. As one of the most accessible exchanges online, Coinbase offers many cryptocurrencies you can buy, including the big hitters like Bitcoin and lesser-known currencies like Tron. However, you may face higher fees than other exchanges.
Robinhood is another popular platform that gained popularity. The broker is easy to use and great for new buyers; you can enjoy commission-free stocks and numerous cryptocurrencies. However, certain regulators have called the company misleading and you also stand the risk of getting zero activity fees and a low-price monthly subscription.
For Experienced Users
If you are looking for a more advanced platform for buying and selling Tron, you may want to try some of the following platforms:
eToro is one of the top brokers for buyers who like additional features like charts, and figures when choosing their cryptocurrencies. eToro is home to 17 million crypto traders and offers low deposits and a huge selection of crypto coins and stocks. eToro also has a useful CopyTrader feature, which you can use to copy investors who are making money in the stock and crypto market.
Kraken is another popular name in the crypto game, with relatively low fees. You can also purchase many different cryptocurrencies, Tron included. It features a sleek design and a good overview of the crypto market.
Bittrex is a great platform for anybody who prefers a streamlined registration process. You can also view one-minute charts to make investment decisions and understand the value of Tron more accurately. In addition, the service is largely interruption-free, and the fees are reasonable as well.
What Are The Different Ways to Pay For Tron?
Before buying Tron, consider the numerous payment methods available:
Let’s connect your bank account to your crypto platform. Popular bank transfer options include:
Faster Payments - UK
SEPA - Europe
ACH - USA
Direct Entry - Australia
Some of the top exchanges that use bank transfers include Coinbase and Binance US.
Credit and Debit Cards
This is a typical method for exchanges and brokers. Submit your card details or store them on your account and use them to make purchases.
Examples of brokers and exchanges that accept debit or credit cards include eToro and Bitfinex.
You can sign up to peer-to-peer marketplaces where sellers advertise their Tron coins.
Some P2P marketplaces that offer Tron are LocalcoinSwap and Localcryptos.
Some popular wire transfer options include FedWire and SWIFT.
Popular exchanges that offer wire transfers include Coinbase and eToro.
Using Other Cryptocurrencies
Crypto to crypto exchanges only allow other cryptocurrencies as deposits. So you’ll have to add Bitcoin, Ethereum, or other crypto funds to purchase Tron.
PayPal and Venmo
These are two of the most popular e-wallets that millions of people use to make online transactions. However, they are not as widely accepted as some other payment methods, so you may want to check if you can use these methods before signing up for any exchange.
What to Consider When Buying Tron?
Consider the following factors before buying Tron.
The fees set by a platform determine how much Tron you can buy. While every platform will offer competitive fees, some exchanges or brokers offer more reasonable withdrawal, trading, and deposit fees than others.
Consider volatility when buying any cryptocurrency, Tron included. Cryptocurrency valuations often fluctuate. Their growth and decline can be unpredictable, making investments risky.
You should also make sure your platform follows regulations set by an official governing body. These regulations include extra security measures and account verification.
Long-term or short-term Holding:
If you have never traded Tron or other cryptocurrencies before, we suggest deciding on a long-term or short-terming investment strategy. Long-term holding can result in more extreme profits, but the practice is risky. Short-term traders make less substantial profits on a more frequent basis.
However you choose to buy your Tron tokens, you have to figure out what type of wallet you are going to use to keep them safe. Are you going to store your Tron tokens on a cold or hot wallet? You may prefer to keep your coins in your exchange wallet if you plan to sell them again quickly, but you should be aware that it is less secure. We recommend choosing a hardware wallet if you want to ensure your Tron coins’ safety.
Crypto transactions cannot be undone
You should be aware that any crypto transaction you make is irreversible. As such, you should type your details correctly whenever making a transaction. We also recommend keeping your wallet address and key stored in another file. Then you can copy them over without worrying about making a mistake.
Who accepts Tron in the United States?
If you want to spend your Tron, we suggest using Coinmap to find any places in your area that accept Tron. A Google search may also show which online companies and brands accept this form of payment. You can also use Coinmap to locate crypto ATMs to purchase Tron tokens.
Is It Safe to Buy Tron Online?
Firstly, you should use a regulated exchange or broker. Per rules set by governing bodies in their base countries, regulated exchanges must follow additional security protocols and verification procedures on their service.
Understand the risk
Exchanges may also be targeted by online hackers. If you leave your funds in your account, you risk possible theft. Also, if an exchange goes out of business, you may not be able to retrieve your fund, though some compensation schemes do allow for this possibility.
Use a secure wallet
Use a secure wallet to keep your coins when you are not using them. Keep those coins in cold storage if you are not going to use them for a while.
Only use an exchange or broker that runs on a secure website with SSL encryption.
This has become increasingly common on exchanges and a necessity on regulated platforms. Some may send codes to your email or phone. Others may ask you secret questions to withdraw funds.
How to Store Tron?
Crypto wallets are a secure way to store and protect your Tron funds. You have two options available: hot wallets and cold wallets.
Hot wallets are similar to your exchange wallet; they are software programs or apps used to store cryptocurrency; however, they are separate from your exchange.
Cold wallets are hardware wallets and the most secure way to store your Tron coins. In addition, hardware wallets can be stored offline, adding a second level of security.
Some of the best wallets include:
The Exodus wallet is a good choice for beginner buyers. Like most hot wallets, Exodus is free and features a user-friendly interface. In addition, the wallet includes additional support for cold storage. The wallet also has a built-in exchange and supports a wide selection of cryptocurrencies, suitable for buyers with a diverse portfolio.
Ledger Nano X
Ledger Nano X is a cold wallet that offers cold storage and connects to devices via USB or Bluetooth. Ledger Nano X is compatible with desktop and mobile apps. Ledger Live has an easy-to-use interface and storage for up to 20 different wallets. This wallet supports 1,800 cryptocurrencies, and the open-source software comes with excellent customer and community support.
How to Sell Tron?
There are numerous ways to sell your Tron coins. These include:
Sell your Tron token for fiats like AUD, USD, or GBP. Then, withdraw those funds to your bank account.
Step 1: Register for an account
Step 2: Transfer Tron tokens from your wallet to the exchange
Step 3: Sell those Tron tokens and withdraw the fiat currency
Brokers offer additional risk management functions, charts, and trading instruments for you to trade Tron.
Is It Worth Buying Tron Right Now?
The future value of Tron lies in its potential to revolutionize the entertainment industry in terms of real-world application, improving streaming services and entertainment-based transactions. Still, you should keep up with the latest Tron research, news, and industry insights to make informed investment decisions.
Tron appears to have the potential to increase in value based on its inherent utility, which makes it an option to diversify your portfolio. Kraken may be the most suitable exchange if you are new to cryptocurrencies and looking to buy Tron and you should store your investment in a wallet for added security.