What Is TRON (TRX) Crypto and How to Exchange TRON?
At the moment, if you want to perform any activity over the internet, whether it’s watching content, trading, browsing, or making a payment, you will most likely depend on a centralized platform to do so. Unfortunately, the downside to this is that there’s a risk of data manipulation, privacy concerns, censorship, and even misinformation.
One market player is hoping to revolutionize the status quo by providing a free, global entertainment system that allows for easy sharing of digital content. This game-changer is TRON. At this point, you’ve probably heard of TRON since it’s been in the industry for a few years now. But do you really know what TRON is or are you still wondering, “What is TRON coin?” If yes, then you are in the right place.
What is TRON?
TRON is a blockchain-based platform created to decentralize the content distribution industry and its infrastructure through a plethora of platforms, protocols, and permissionless tools. The platform’s native coin is the TRON coin, abbreviated as TRX.
Since TRON is a blockchain platform, developers are capable of building dApps on the TRON ecosystem as well. These apps can be practically for any purpose, such as decentralized exchanges, online games, yield farms, among others.
History and Founder of TRX
TRON’s history begins in July 2017 in Singapore. At that time, Justin Sun, who happens to be the current CEO of TRON, had just launched the TRON foundation. The TRON Foundation’s mission was to build a decentralized internet that could provide a democratic way to share and dispense information. The TRON team managed to raise over $70 million in an ICO with investors snatching up the TRON TRX coin quickly.
Back then, Ethereum was a major competitor of Bitcoin that offered cheaper transaction fees and the ability to interact with dApps. Therefore, the TRON cryptocurrency was launched on the Ethereum platform, thus making it an ERC20 token. However, in June 2018, TRON crypto switched to its native blockchain platform. In 2019, TRON saw exponential growth where investors adopted it thanks to its highly scalable network and near-zero transaction fees. It managed to successfully break into the top 10 cryptocurrencies in the market.
How can TRON be used?
Now that you are well-acquainted with TRON crypto, you might be interested in knowing exactly how you can use the coin. For starters, you can use the TRON crypto coin as an investment or a store of value. Additionally, TRX tokens employ the same concept as that of Ether, which is to power programs on the Ethereum blockchain. Therefore, through TRX tokens, you can power up or interact with dApps that are running on the TRON blockchain as well.
Also, you can utilize TRX tokens for speculative purposes. As a trader, you can buy tokens at a low price and when prices start to rise, you can sell them off for a profit. Also, you can use TRX as payment for services or goods on a P2P e-commerce platform as TRON is capable of handling over 2,000 transactions per second. As a TRON coin holder, you also have the capability to lock away your tokens to gain “TRON Power”. This is basically the voting rights over decisions concerning the TRON network.
Is TRON secure?
Fortunately, TRON takes the issue of network security very seriously. TRON has hired one of the best digital security engineers, Jorge Guo, who receives praise from top platforms such as Google and Huawei. One of its main security features is TRON’s delegated proof-of-stake (DPoS) consensus mechanism. Network validators are changed every 6 hours with each validator being chosen by voters that have staked their TRX tokens. Lastly, TRON has a Bug Bounty Program that offers to pay generous TRX rewards for any system vulnerabilities or bugs exposed. Therefore, keeping the whole TRON network on its toes, security-wise.
What is the future of TRON cryptocurrency?
At the moment, TRON is attracting a lot of developers who are building numerous dApps on the TRON network. At the same time, there is an influx of partnerships, which might increase the rate of adoption and accessibility in the future. Therefore, there is great potential for TRON’s overall value to surge. However, the cryptocurrency industry is still highly competitive. And while TRON may not become defunct, it’s highly likely that its value will experience wild action.
TRON vs Bitcoin
Below are some of the major differences between Bitcoin and the cryptocurrency TRON TRX.
Tips to exchange TRON without loss
By buying TRON crypto tokens on a TRON exchange, you will obviously incur some fees as compensation to the exchange for connecting you with a seller. Since you can’t buy crypto Tron coins directly, you will have to purchase other coins such as Bitcoin or Ethereum which you can then trade for TRX. Therefore, you will incur fees on both purchasing these other coins as well as trading them to TRX tokens.
Therefore, to ensure that you reduce the amount of loss you make through fees to exchange TRON, we recommend that you stick to the following tips. They include:
- Pick the best service provider/exchange
Features vary from one exchange to another. Therefore, evaluate all their features and ensure that you only pick an exchange that offers a superior range of cryptos and altcoins such as Tron.
- Pick a non-custodial platform
Non-custodial platforms do not store funds and, therefore, do not have access to them. They can’t steal your money or charge extra fees.
How to exchange TRX on Swapzone?
As far as finding a TRON coin exchange platform, there are plenty to choose from. Finding the best exchange for TRON is comparable to finding a needle in a haystack. At Swapzone, we understand the hassle of finding a legitimate TRON TRX exchange. As an instant crypto exchange aggregator, we make it easy to purchase different kinds of crypto, including cryptocurrency TRON.
Given that the TRON token exchange will be instant, you will have the advantage of always getting your trades completed at the best rates in the market. Below is a step-by-step guide on how to exchange TRON on Swapzone:
Step 1. Launch Swapzone on your browser.
Step 2. In the “select pair tab” choose the kind of crypto and amount that you wish to exchange for TRON.
Step 3. In the “get up to” section, pick TRON TRX.
Step 4. Enter details in the respective tabs. Once you do, you will see different TRON TRX exchange rate offers.
Step 5. You have the option to sort through the different TRON crypto exchange offers based on transaction time or price.
Step 6. Find an offer you want, choose it by clicking on “exchange”.
Step 7. Enter your wallet details and make sure that they are correct. After, click on “proceed to exchange”.
Step 8. Wait for the transaction to finalize.
Step 9. Once the transaction completes, rate your experience and leave an honest review. That’s it!