What is Tron (TRX) Crypto?

Tron is a blockchain platform and cryptocurrency network whose native coin is TRX. Just like Ethereum, EOS, and Cardano, Tron offers developers a platform to build decentralized applications (dApps). It also provides access to smart contracts capability that is revolutionizing trustless finance.

History of Tron (TRX)

Tron was launched in 2017 by Justin Sun, a former Ripple (XRP) representative in China and also the founder of Peiwo.

The Tron team raised $70 million in an initial coin offering (ICO) at its launch, with interested parties getting the TRX utility tokens for their ETH and BTC. To date, the blockchain platform continues to be overseen by Singapore-based Tron Foundation, with Justin Sun as the CEO.

Tron (TRX) first lived on the Ethereum blockchain as an ERC-20 token.

In June 2018, after further development on its native blockchain, Tron switched from an ERC-20 token standard to TRX, a standalone peer-to-peer blockchain platform.

In 2019, Tron experienced massive growth and broke into the top 10 of the crypto market thanks to its near-zero fee transactions and highly scalable network.

The acquisition of BitTorrent also added to Tron's growing ecosystem as the file-sharing platform launched the sale of its TRC-20 token BTT.

Further growth has come with the explosion of decentralized finance (DeFi), with several projects utilizing the Tron blockchain to launch DeFi protocols.

How can Tron be used?

It’s good to note how you can use the Tron network, or the native TRX coin, before you invest in it.

What better way is there to begin other than noting that Tron's blockchain network is designed to help content creators and content users benefit from a decentralized internet. In this way, developers, content providers, and users all have access to an infrastructure that allows decentralized storage technology and a currency system that makes it easy to share internet-based content.

Several partnerships, particularly the one Tron struck with 10 million+ user Peiwo, allows subscribers to access content online, link with developers directly, pay for the content they need, and get it without intermediaries.

But that’s not all.

Tron crypto is a currency like other popular tokens such as bitcoin, accepted as a medium of exchange and an investment currency. You can also use TRX for staking on the Tron platform and in various DeFi protocols. Yield farming is also a great way to earn passive income with TRX.

Tron is a tradable cryptocurrency and thus, you are free to buy or sell it on platforms that list it.

Is Tron Secure?

If you were to start looking at the topic “what is Tron (TRX),” one of the first concerns you’d want to figure out is its security. Luckily, Tron takes the issue of network security very seriously, as has been noted in its collaboration with renowned blockchain security engineers such as Jorge Guo.

Tron's developers are continuously working to ensure they get on top of any would-be security hitches, including alarms like vulnerability to distributed denial-of-service (DDoS) attacks.

Remember that TRX lives on a decentralized blockchain, which allows for a robust security mechanism. However, you are the sole custodian of your wallet and login details. It means forgetting your password or wallet private keys would deny you access to your wallet and coins, and you may lose your TRX tokens for good.

What is the Future of Tron Cryptocurrency?

Other than the early controversy about its white paper (allegations of plagiarism), crypto enthusiasts and analysts are highly optimistic about the future of TRX cryptocurrency.

So, is TRX a good investment?

Tron is attracting more and more developers, with the numerous decentralized applications run on the platform seeing a large pool of users. The platform is also seeing an influx of partnerships, which is likely to increase its acceptability and adoption.

With many adopting the Tron coin as a payment form of digital currency, its market value is likely to experience an upsurge. As an investor interested in long-term investment, TRX is one great option.

Nonetheless, the crypto space is fiercely competitive, and many projects have stalled or died off since Bitcoin first launched in 2009. Tron might not go the way of some of the defunct projects, but it's likely to experience wild action even as the crypto market remains volatile.

How to buy Tron (TRX) cryptocurrency?

The simple answer to the question "Where can I buy TRX" is this: go to a cryptocurrency exchange or platform that allows you to buy, sell or trade crypto assets.

There are several options out there, but Swapzone is becoming one of the most popular for one major reason. This instant crypto exchange aggregator makes it easy to buy different cryptocurrencies, including (TRX), by quickly exchanging them.

Given that the transactions are instant, you have the advantage of always getting your trades completed at the best rates in the market.

How to exchange to Tron (TRX)

  1. Go to Swapzone to get your work started.
  2. Select the cryptocurrency that you'd like to exchange, a coin or a token.
  3. Specify the total amount you're going to transfer.
  4. Select TRX in the Get Up To section.
  5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the exchange.
  6. Confirm the offer you wish to utilize and then enter the wallet to receive the TRX currency.
  7. List the address that will take the currency you are exchanging.
  8. Confirm the trade to complete the transaction.

Watch how Swapzone works through this step-by-step video guide, which shows you how to swap Ethereum (ETH) for TRX in no time.

Conclusion

Tron continues to build its blockchain network and ecosystem towards a decentralized Web. TRX is central to this, with the use cases of the coin likely to grow as more developers build dApps on Tron. People are now also able to hold TRX as an investment, or stake it to earn profits, all likely to see increased adoption of the Tron ecosystem.