Are you wondering how to buy Tron quickly and safely?
We are now gradually moving towards greater decentralization.
Thanks to blockchain technology, it is possible to see a world not governed by third-party apps.
Tokens of platforms working towards the iteration of an unregulated World Wide Web or Web3 are selling hot among traders lately.
In this article, we will provide all time important information you need to know about a Web3-centered network called Tron and its native token TRX.
It is working towards creating a fully-decentralized entertainment industry through the elimination of third-party applications when consuming content.
Tune in to know how to buy Tron using only the best crypto exchanges.
How to Buy Tron in 2024
While there are tons of platforms offering TRX on their sites, it is best to use only these trusted exchanges listed below.
On the top of our recommendation list of places to buy Tron from is eToro.
This multi-asset trading site has been around since 2007 and made its name as a highly-regulated platform.
Investing in assets is already a risk in itself but investing in crypto is a whole new risk upgrade.
This is why traders, especially beginner ones, should emphasize selecting intermediaries that operate legally in many locations like eToro.
This site is feature-packed, meaning it is loaded with trading tools that are useful for investors.
Using the CopyTrader will allow users to view, track, and replicate experts’ moves. In turn, you can also be paid if others copy and follow your trades.
Technical tools such as stop loss, take profit, and set order are also available when using the eToro mobile app and desktop site.
You may purchase not only individual tokens but also managed crypto portfolios like crypto ETFs that are not available on many cryptocurrency exchanges.
Even as a new entrant in the crypto space, Binance quickly captured the attention of crypto traders due to its very low fees.
Regular traders are charged only 0.1% per transaction which is one of the lowest among major cryptocurrency platforms today.
Its trading features are suitable for use among beginners and advanced traders alike.
For those wanting to know more about crypto trading, there is the Binance Academy which users can access anytime for free.
It houses all there is to know about anything related to crypto and blockchain. The Binance Earn supports both flexible and locked staking for Tron.
TRX holders can have an annual yield of up to 12.38% in 120 days, 5.25% in 60 days, and 4.96% in 30 days under locked staking. While 0.77% APY for the flexible option.
Investors make a very common mistake in crypto investing: holding tokens for the long haul without taking advantage of highs and lows.
This bad holding strategy will be solved at once when you start using Pionex.
Pionex is considered among the best crypto trading bots in 2024 and leverages a variety of automated trading functions.
These tools help traders take advantage of every short and long-term price volatility, and increase the opportunity to increase profit and minimize losses.
Traders have the option to use the AI or manual strategy when taking profit and capping price drops.
This increases your flexibility in every trade, allowing you to set ceilings or floors at rates you are most comfortable with.
Best Crypto Wallet to Store TRX
Apparently, storing crypto tokens on exchanges is not viable for the long term due to security issues.
This is where cold storage or the use of a special device to store crypto comes into play.
There are a ton of sprouting hard wallets today. But nothing can beat the stellar safety record Ledger managed to build over the years
For those just starting with cold storage, it is best to get a hard wallet that is easy to use for beginners.
Ledger has a similar size and structure to a USB flash drive which makes it compact to carry around anywhere. It supports buying, sending, receiving, and staking TRX.
Encryption is stored in this hardware device which means that your private key is safe under your watch.
Investors do not get to hold their private keys when using regular exchanges.
It is best to never store private keys and passwords on any device connected to the internet as hacking incidents remain frequent.
Also, remember to buy Ledger only on the company’s official website to ensure that the device has not been previously used or hacked.
Step-by-step Guide on How to Buy Tron in 2024
This is the general guide on how to buy Tron (TRX) on crypto exchanges.
Step 1: Create a Trading Account
Enter a username and a password and make sure to agree to the Terms and Conditions to complete registration.
Step 2: Verify Your New Account
All cryptocurrency exchanges require account verification for security purposes.
During this stage, you will be asked to upload a valid proof of identification containing your address line such as a passport and/or a driver’s license.
Step 3: Deposit Money
Once the account has been verified, this is a go signal to start making deposits.
You may choose different payment options including bank transfers, credit/debit card payments, or online transfers to fund your account.
Some exchanges like Binance allow a peer-to-peer payment option.
Step 4: Buy Tron (TRX)
After loading up some cash, select the token of your choice. In this case, type “Tron” or “TRX” on the search bar, and enter the amount you are exchanging for TRX.
Click “Buy” to complete the order. You have just made your first crypto purchase!
All About Tron
Tron envisions a cost-effective sharing of digital content worldwide. It is working towards the creation of a decentralized content-sharing platform using the Tron network.
This means that upon using its digital content entertainment system, there will be no need for third-party apps to browse and consume content.
Under this mechanism, users can pay for content, such as movies, music, and the like, directly to owners without having to buy subscriptions on service providers like Netflix.
TRX is the platform’s native coin. It is included among the top 25 coins with the largest market capitalization on the coinmarketcap website.
It leverages a delegated Proof-of-Stake consensus mechanism that uses 27 nodes to process and validate transactions.
This small number of validators makes it highly scalable and efficient.
Tron can process 2,000 transactions per second that are all free of charge and produces up to three blocks a second.
This compares the Ethereum network’s 15 transactions a second for $2.00 each.
TRX Price History
Take a look at how TRX’s price fared so far since its initial coin offering five years ago.
Tron currently trades at $0.06 apiece, down 5.93% from the previous session.
Nevertheless, this price point is still higher than its ICO price of $0.02. It holds a market capitalization of $6.86 billion.
TRX recorded its all-time high just months after its public debut after hitting $0.29 per token in January 2018.
However, it did not manage to gain buyers’ support since then. It climbed to $0.14 in 2021 and this is its highest settlement so far since bottoming from its all-time high.
Return on Investment
For those that invested in TRX a year ago, things are not looking brightly with a 20.0% year-on-year price decline.
On the other hand, TRX investments made three months ago are up 10.98%. This compares to ETH’s three-month gain of 15.57%.
Is Tron a Buy or Sell?
Deciding to buy TRX depends on your trading style. Now is a good time to enter if you are a short-term trader while the price is still cheap.
On the other hand, we cannot advise a buy option for long-term traders. Tron is involved in several controversies which can potentially affect prices going forward.
Its founder Justin Sun announced his departure from the network late last year and the token traded sideways since then.
Nevertheless, the platform remains one of the pillars of Web3 development. Prices could surge exponentially under the right circumstances and market support.
Here is a TRX price prediction for the near and long term timeline:
Tron’s trading volume does not show any sign of an imminent bullish run.
It has a big chance of settling down at its immediate resistance level plotted at $0.08 by the end of the year.
On a good year, we can see prices hitting $0.09 at most. But it can also fall to a support level at $0.05 if lukewarm sentiment continues.
There is no indication of hitting it back to an all-time high level even in the next two years.
TRX will trade conservatively between $0.12 to $0.15 for the most part of 2024.
By 2026, Tron is expected to climb back to the $0.20 level and take it higher to $0.24.
It may continue the winning streak and plot a new all-time high at $0.30 during this year.
The most important factor to come into play is the normalization of Web3 in which the Tron network is a dominant market player.
Tron is an excellent network for smart contracts and decentralized app infrastructures.
Compared to Ethereum, it has higher scalability and offers a more efficient fee mechanism.
However, its overall landscape is at risk due to the recent leadership shakeup.
This article is an informative way to learn how to buy Tron (TRX) on the best crypto platforms available today.