How to buy and store Tron

How to buy and store Tron

Buying and storing cryptocurrencies such as Tron requires exchange services and sometimes a crypto wallet. Learn everything you need to know to invest in Tron on this page.
By: Harry Atkins
Harry Atkins
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue… read more.
Updated: Feb 24, 2021
0/5 Star rating
Beginner
4 min read

I. 3a – How do I buy tron?

If you are looking to buy tron using the money in your bank account, the best and easiest option is to use a brokerage.

A tron brokerage is essentially an online bureau de change for tron. Brokerage platforms sell tron at a fixed price, depending on the time and date of the transaction. Just like when exchanging pounds for euros at the airport, the price at which you can buy tron from a brokerage will be set by the current exchange rate, plus whatever commission the broker charges for exchanging your money.

Because of their commission rates, brokerages are the most straightforward way to purchase tron but not necessarily the cheapest. To find the best price, trading tron on an exchange is your best option.

II. 3b – How do I store my tron in a wallet?

In order to store tron, you’ll need a tron wallet. In section 2a we learned what tron wallets are, how they work, and their importance in the movement of tron, so now let’s run through the different types of wallet that you can get.

There are 5 different types of wallets: online wallets, desktop wallets, mobile wallets, paper wallets, and hardware wallets. Each wallet type functions as an account to store your tron, and enables you both to send tron to, and receive it from, other wallets. The difference between the different types of wallet is in the way they secure your private keys (essentially your password that allows you to transfer tron out of your wallet).

There are pros and cons to each wallet type, which you can learn about in our ‘Wallets’ section. If you’re getting your first tron wallet, then it’s easiest to get an online wallet, for which you’ll simply need to register with an email address and create a password. These wallets are commonly attached to exchanges or brokerages through which you can also buy tron.

Once you have a wallet, you’re ready to buy or trade tron on an exchange. Also, if you want to trade tron without needing a wallet then that’s also possible with CFD platforms. Keep reading and we’ll explain your tron trading options.

III. 3c – How do I trade tron?

If you want to trade tron, then your two main options are exchanges and CFD platforms. These platforms are more complicated than brokerages, but provide more options for making profit out of tron. The only difference between the two is that exchanges require you to own and store the tron you’re trading in a wallet, whereas CFDs do this for you.

Trading tron with the above platforms is similar to regular day-trading. Users can try to profit through making trades around the price fluctuations of tron, just like with any other store of value like gold or regular fiat currency (pounds, euros, dollars).

On exchanges you’ll be trading your tron directly for other cryptocurrencies, and on CFD platforms you’re basically making bets with the trading platform about whether the price of tron will rise or fall. For this reason, you will need a wallet to use an exchange, but not to trade on a CFD platform.

As mentioned, these platforms are more complicated to use than brokerages, so it’s recommended to read our pages detailing how CFD platforms and exchanges work, which will guide you through the process and help you start trading for profit – if that’s how you want to use tron.

By now you’re probably wondering if tron has any uses other than trading for profit. The answer is a definite yes, and so the final stage of our tron tour will take you through the different ways you can use tron.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Harry Atkins
Financial Writer
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the… read more.

Course navigation

1. What is Tron
2. How tron works
3. How to buy and store tron
a. How to buy and store Tron
4. Ways tron can be used

Related courses

What is Bitcoin? Before getting involved in bitcoin it is important to understand it. This guide lays out the basics: what Bitcoin is and the different ways it can be used. Ultimately, we’re all here to learn, so don’t be afraid – get stuck in and we’ll help you. With…
What is Ethereum? Before investing in Ethereum, it’s important to understand it. That’s why we’ve made this plain-talking guide and created a list of where to go in order to help you buy Ethereum responsibly. This guide lays out the basics: what ether is and the multiple ways it can…
What is Tron? Before investing in tron, it’s important to understand it. That’s why we’ve created this plain-speaking guide to inform you on whether tron is a sound investment choice. This guide lays out the basics: What Tron is and the various ways you can use it. Make better…