Want to jump straight to the answer? You can buy TRX on eToro!
Founded in 2017 by Justin Sun and the non-profit Tron Foundation, Tron is a decentralized blockchain platform specializing in entertainment and content sharing. The Singapore-based company has 1 of the world’s fastest growing public blockchains that uses peer-to-peer (P2P) technology boasting over 1.3 billion transactions and 16 million accounts.
Tron’s Tronix (TRX) cryptocurrency is listed on more than 130 exchanges and has the distinction of offering its own world-class wallet. The TRX cryptocurrency also acts as the basic unit of account for the Tron blockchain.
Tron has even been likened to a next generation social media outlet since the Tron crypto ecosystem lets you create and share content with anyone, anywhere. Unlike social media sites like Facebook and Twitter, the Tron cryptocurrency ecosystem compensates you for the data and content you create.
In addition, Tron’s decentralized distributed storage technology gives you the freedom of creating and uploading content directly into the Tron network without the concern of being censored by big tech companies like Google, Spotify or YouTube. If you want to know how to buy TRX, use our step-by-step guide to get started today.
How to Buy Tron
- Open an Online Account
Before you can buy cryptocurrencies, you’ll need to open an online account with a broker or cryptocurrency exchange. Instructions appear below for opening an account with Coinbase, 1 of the world’s largest and most reputable cryptocurrency exchanges, and with eToro, a top cryptocurrency broker and social trading website.
- Buy a Wallet
After opening your account with an exchange or broker, you’ll need a crypto wallet to store your cryptocurrency in. Some exchanges and brokers allow you to store your coins in their wallet, although your investment may not be as secure as holding your coins in your own wallet.
The different types of cryptocurrency wallets are:
Hot wallets. This very accessible type of wallet is generally used on devices that connect to the internet, although it offers the least amount of security. Tron software wallets are an example of this type of wallet that can easily be downloaded at no cost.
Hosted wallets. A hosted wallet lets you hold your digital currency on a third-party, a crypto broker’s or an exchange’s server. In this type of wallet, the host retains control of the keys to your cryptocurrencies. Such wallets can have security issues due to the threat of hacking.
Cold wallets. These consist of hardware wallets that hold your cryptocurrencies offline. This type of wallet offers the highest level of security since your coins are held on a device not connected to the Internet, although they can be subject to physical loss if you misplace the hardware.
Decentralized wallets. This style of wallet lets you send or receive cryptocurrency in your wallet anywhere in the world. They eliminate 3rd party risk associated with hosted wallets.
Ideally, you’ll want your wallet to support the Tron network if you wish to invest in Tronix. You may want to maintain control of your private keys and have security features like a multi-signature or 2-party authentication system and PIN code. The wallet software should also have an intuitive and easy to use interface and provide access to customer support in case you have a problem using it.
- Make Your Purchase
Once you’ve opened and funded an account and have obtained a compatible wallet, you can now make your first TRX purchase. You’ll also need access to a trading platform that lets you make transactions in your newly opened account.
This is where you’ll select the cryptocurrency you plan to purchase. After purchasing the amount of cryptocurrency desired, your coins can then be transferred from the hosted wallet on the platform to your chosen wallet.
Best Crypto Exchange and Broker for Tron
Crypto futures traders
Kraken is a cryptocurrency that offers access to more than 50 supported coins and tokens, staking capabilities, futures trading and more. Kraken offers a variable maker-taker fee schedule, which often results in lower fees compared to flat-rate brokerages.
In addition to a wide range of crypto choices, Kraken offers customizable ordering platforms and mobile apps that you can use to fully refine your trading experience. There’s plenty to love about trading on Kraken. It appeals to both seasoned professionals and new investors looking to learn more about the market.
If you’re looking for a cryptocurrency broker that’s easy on beginners, Kraken is an excellent choice. We were able to open our account in just 5 minutes and account verification was a simple process as well. It’s also one of the only exchanges we’ve seen to offer 3 levels of order placement systems: beginner, intermediate and advanced.
If you’re looking for a quick and straightforward way to buy or sell crypto, you’ll appreciate Kraken’s beginner ordering system, which limits customers to the basic information needed to execute a trade. More experienced users can place orders using Kraken’s advanced ordering system, which provides more access to additional order types, leverage options and execution choices.
The process for opening an account at eToro is similar to Coinbase. Joining requires you to go through the following steps:
- Go to website. Navigate to the eToro website, and click on the “Join Now” or “Trade Now” button.
- Enter personal information. Enter all of your personal information required to open a new trading account.
- Submit. Submit your information by clicking on the “sign up” button.
- Answer questions and provide ID and address documentation. Due to compliance with money laundering directives and KYC protocols, you will need to fill out a form disclosing your experience in the market, as well as presenting proof of identity and address, with a utility bill not more than 6 months old and a photo ID such as a passport or driver’s license.
Best Crypto Wallets
Best for Hardware Storage: Ledger Nano X
The Ledger Nano X is the latest cold or hardware wallet from Ledger, and it expands the capabilities of the company’s best selling Nano S model. The wallet lets you manage 27 digital assets and 1,500 Ethereum Request for Comments – 20 (ERC-20) tokens through the Ledger Live app on your mobile device (Android or iOS) connected via Bluetooth or cable to your desktop computer.
The wallet is compatible with over 50 other wallets and 1,100 crypto assets, and it has the capacity for installing up to 100 apps on the device.
Best for Multiple Coin Storage: Trezor Model T
The Trezor Model T is the next generation hardware crypto wallet by Satoshi Labs. It features an intuitive LCD touchscreen interface and a USB Type C port. This hardware wallet lets you trade from over 220 countries and securely store ERC-20 tokens, Ripple, Bitcoin, Ethereum and over 1,300 cryptocurrencies.
The secure Model T cold wallet is always accessible via a 12- to 24-word long recovery seed, and it offers an offline backup. While costing more than the Trezor One, the Model T offers a higher level of security, and you get premium customer support from the company.
Trade or Sell Your Cryptocurrency
Once you have gone ahead and purchased your TRX cryptocurrency, you will have established a long position in it that will appreciate in value if the digital currency’s price rises. Next you need to watch the market and decide whether to hold or sell your TRX cryptocurrency as its value shifts. Your trading or investment style, your risk tolerance and your overall plan will generally determine when to sell the cryptocurrency you purchased.
With TRX trading under $0.03, you may just want to purchase a block of this inexpensive cryptocurrency as an investment to put into a wallet where you can forget about it for a few years. This strategy has worked out well for many cryptocurrency investors, most notably those who purchased Bitcoin in its infancy. A comparison table of brokers you can use to purchase cryptocurrencies appears below.
Current Crypto Prices
Should You Buy Tron Now?
With PayPal’s groundbreaking announcement that its major online payments platform will allow clients to hold and pay with Bitcoin, Ethereum, Bitcoin Cash and Litecoin, many alt-coins have been left behind. Lesser known digital currencies like TRX have not gained nearly as much, and it has a good chance of catching up to Bitcoin if payment platforms like PayPal indicate support for them is also forthcoming.
The digital currency market is still growing, so investing in TRX sooner rather than later would probably be a prudent move if you think long term appreciation seems likely. Tron’s platform and ecosystem also show considerable promise as the next step in social media, and its native TRX digital coin looks like a viable and inexpensive cryptocurrency.
Frequently Asked Questions
What is Tron?
John Gulbronson, email@example.com
Tron, a digital currency, combines social media, entertainment and storage technology to create a unique way of sharing, buying and selling content. Tron pays you for content using cryptocurrency.
Is Tron a Ponzi scheme?
John Gulbronson, firstname.lastname@example.org
Tron is a legitimate platform that pays digital currency to creators after investors buy its content on the network.
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.
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