TRON (TRX) - All you need to know
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Ways to invest in Tron
The first thing to do if you want to invest in Tron is to sign up with an online broker or exchange platform. These services let you buy, sell, or trade Tron, and there are both positives and negatives to each approach.
There are lots of different strategies you can use to invest in a coin. You can buy and hold them to benefit from price increases over time, or trade them quickly to try to take advantage of fluctuations in value. Use the links below to learn more about each method of investing in Tron.
What is Tron?
The Tron coin – or TRX – is the cryptocurrency token used on the Tron network. The word ‘Tron’ is often used to refer to both the token and the overall project itself. The aim of the Tron network is to provide an easy way for content creators and consumers to connect without the need for middlemen. This is achieved by using blockchain technology to decentralise storage and allow transactions to be made directly with creators, reducing costs and making it easier to access content of all varieties.
The Tron Foundation was founded in 2017 by Justin Sun, a Chinese tech entrepreneur who is also the CEO and founder of the Peiwo app and former chief representative of Ripple in Greater China. Today TRX is one of the most commonly traded cryptocurrencies in the world and there are over 16 million active accounts on the Tron Network.
How does Tron work?
It functions much like any other cryptocurrency, in that Tron transactions are made between users without the need for a bank or centralised authority to act as a middleman, and all coin movements are recorded on a public blockchain. This means you can exchange TRX for Bitcoin or other cryptocurrencies on exchanges, or use it to make payments on the network.
Exactly how you want to use Tron – trading it to try and make profits or spending your coins on different forms of content – is key to determining what you want to consider before you start. More information can be found in our Tron 101 course so you understand everything about both the network and the token.
How to invest in Tron
There are now many different approaches you can take to investing in Tron. We recommend that you familiarise yourself with all of them before you start your investment journey, so you’re well-placed to pick one that works for you. The list below gives you a summary of the options.
- Broker platforms. A broker is the most straightforward way to invest. You can sign up for an account in a matter of minutes, then search for the Tron coin and buy immediately at a fixed price. The broker might charge you a small commission for each trade, so if you plan on being active then it might be worth looking for one that doesn’t charge trading fees.
- Cryptocurrency exchanges. Exchanges are peer-to-peer trading platforms, which means you buy and sell from other users rather than going through a middleman. That means the prices are usually better on an exchange – because no one is taking a cut – but the interface can take a bit of getting used to. Many leading exchanges let you buy coins with your fiat currency (like GBP or USD) but be aware that some might only accept deposits in cryptocurrency.
- Funds. A fund is a managed portfolio that pools together money from lots of different investors. The fund manager decides what assets to buy and when, with the goal of creating a good return for everyone involved. Funds charge management fees and are usually quite expensive to join, so might not be the best choice for everyone.
- Mutual funds. A mutual fund is just like a fund but more accessible to casual investors. You can buy shares in a mutual fund like you would a company’s stock and they can be a great way to create an instantly diverse portfolio. They also charge management fees, so look for one that holds Tron, has a good track record of positive returns, and doesn’t charge too much in fees.
- Tron ETFs. Exchange-traded funds track the performance of a market or index by owning all the assets within it. They are very easy to buy as they also trade just like stocks, with the added bonus that they don’t charge much in fees. ETFs are ideal for beginner investors, or anyone who doesn’t have the time to manage their own portfolio.
- Crypto debit cards. Debit cards let you spend your coins on everyday purchases online. The crypto version of the cards work just like your bank card, where you can spend anything that’s in your account.
- Smartphone apps. There are mobile apps that can help you spend or invest in Tron on the go. Most online brokers have an app that you can link to your account, with many of the same features as you would find on their website.
- Tron wallets. A wallet is the best place to store coins. It uses encryption to keep them safe from any malicious activity and so they can only be accessed by entering a private key that’s unique to you. You can get all sorts of wallets, from mobile apps to heavy-duty offline ones, depending on how security-conscious you are.
Where can I buy Tron now?
Latest Tron price analysis
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