So, you have made up your mind to add Tron coin into your cryptocurrency portfolio and want to know how to buy Tron coin. This is a complete guide that will provide you with each step in detail to help you own Tron cryptocurrency. In this guide, we would try to end your quest to buy Tron’s cryptocurrency.
What is Tron, and who invented it?
Tron was created by Justin Sun in 2017. It raised more than $81 million from crypto investors. Tron was created with the aim to completely decentralize the internet by allowing people to create and access everyday media without using a third party. Tron’s cryptocurrency is called TRX. When released, a TRX was worth $0.002.
How to buy Tron Coin?
There are several exchanges where you can buy Tron coin from, and each exchange has its pros and cons. But it is not possible for you to buy this coin using debit or credit card. In order to own Tron cryptocurrency, you will have to exchange it for bitcoin or Etherum. If you do not own either of these currencies, you can buy these from any known exchange like Coinbase and Kraken.
How to buy Tron cryptocurrency on Binance?
Before you can buy Tron on Binance, you will need to create an account with the exchange. Binance is among the leading crypto exchanges in the world. After signing up, find the deposit address for bitcoin or Ethereum. This can be located by going to the navigation bar and then click on the deposits. Now type the name of the cryptocurrency that you are depositing, and its deposit address will be revealed.
Now go to your wallet or exchange where you have BTC or ETH stored. Choose the option to send and paste that address copied from Binance and click confirm. It usually takes 20-30 minutes to receive funds. Now you have received your BTC or ETH in your Binance account. To buy Tron go to the main page of Binance and select the trading BTC/TRX or ETH/TRX depending on which cryptocurrency you transferred in your Binance account.
Once you find your trading pair, you will come to a page that will give you two options “limit” or “market order.” A market order would allow you to buy any amount of TRX at the current rate. And limit order would allow you to specify conditions and will execute the order when those conditions are met. If you want to own Tron cryptocurrency at the time, you should opt for a market order. You can put in the buy column how much you want to buy TRX and then click confirm. Now you have successfully bought TRX.
How to Buy Tron on Bittrex?
Bittrex is also a crypto exchange that allows you to trade TRX. In order to buy TRX on Bittrex, you will have to first create an account on the exchange. After creating the account, transfer your bitcoin from your crypto wallet to the Bittrex account by following the above steps. Now you have a balance on Bittrex, browse to the BTC/TRX trading pair, and you will land on a page where you will see the option to buy TRX. Fill in the amount how many coins you want and click confirm.
Crypto Exchanges that support TRX
OKEx was launched in 2014 in China. It allows you to trade more than 100 different coins. The exchange is also known for its security. Depositing cryptocurrency into OKEx is free, but you will be charged somewhere from 0.02% – 0.2%, depending on the status of your account.
HitBTC is a multi-currency crypto exchange launched in 2013. This exchange allows you to deposit using fiat currencies like USD and Euro. If you decide to use the fiat option, the exchange will ask for identity proofs, and it might take a few days to get your account your verified. If you need TRX right away, it is best to use BTC or ETH and then trade it for TRX.
How to mine Tron?
There is no possible way to mine TRX directly. All the TRX coins are pre-mined. But earlier this year, Tron launched a service that allows miners to mine TRX indirectly. When miners join the pool, they are internally mining Etherum, but they receive TRX to their addresses. In a way, it allows miners to switch from ETH to TRX in a seamless way.
We hope that your quest for where can I buy Tron has ended. If you follow the above steps carefully, you can manage to buy TRX easily. When dealing with cryptocurrencies, it is highly advised to be extra careful and always double-check the website that you landed on. In our “how to buy Tron cryptocurrency guide,” we have provided with various trustworthy exchanges where you can buy TRX on the go. Let us know in comments what do you think about Tron’s cryptocurrency or anything that can help others trade TRX easily.