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How & where to buy Tron (TRX) online
This page takes you step-by-step through everything you need to know about Tron and its TRX coin, so you can feel secure when investing in cryptocurrency.
What are the best exchanges to buy TRX on?
You can follow any of the links below to set up an account straight away. These exchanges and brokers are the best platforms around, and they’re directly compared against each other in this table. If you need more information before investing, then simply scroll past the table and keep reading.
How to buy TRX online – a step-by-step guide
Step 1. Find an exchange
You need to find an exchange that supports trading TRX. Not all platforms allow you to do this with fiat currency, so you’ll usually have to start with another cryptocurrency (like Bitcoin), and use that as a means to get smaller coins like Tron.
There are many different exchanges available, and you can find the perfect platform with our detailed reviews and comparison tables (such as the one on this page). For some quick guidance, these two exchanges are the best places to buy Tron in the UK right now.
- Binance: One of the largest and most famous cryptocurrency exchanges in the world, Binance enables users to trade hundreds of different coins and tokens – including TRX. You can sign up right here.
- BitPanda: Users on Bitpanda have the option of a whole range of cryptocurrencies, and can use all the latest price charts and information to help make a decision before they invest. Head to the platform via this link.
Step 2. Sign up and fund your account
In order to use an exchange, you’ll usually have to sign up and register an account. The exact steps involved in this process vary, but it’s common for you to have to provide an email address, phone number, and at least one form of photo identification.
Funding your account can be done in a number of ways, but again it will be dependent on the platform. Many exchanges only accept deposits in cryptocurrencies, and the ones that accept fiat currency will usually limit this to a number of payment methods (such as bank transfers and debit cards).
Step 3. Purchase
Navigate to your exchange’s trading interface and search for TRX (the Tron token ticker symbol). Then search for the relevant currency pair. So if you’re going to swap it for Bitcoin – you’ll need to find the TRX/BTC pair to confirm the price and complete the transaction.
Step 4. (Optional) Get a suitable wallet
If you’re security-conscious and are looking to hold your coins for a long time, or are planning on spending your coins on the Tron network, it can be a good idea to get your own crypto wallet.
This isn’t essential, and if you’re looking to trade your coins in the short term it’s usually a better idea to keep them on your chosen exchange. If you are going to use a Tron wallet we recommend the Ledger Nano S or Freewallet.
How to trade Tron – step-by-step guide
Step 1. Find a broker
In order to trade TRX, you need a reliable broker that charges low fees. Brokers allow you to speculate on coins by opening and closing positions quickly as the market fluctuates. Two of our favourite brokers are:
- eToro: One of the world’s most widely used brokers, eToro offers many different cryptos, along with forex, shares, commodities, and more. You can register for an account here.
- Plus500: Having operated for more than a decade, Plus500 offers an impressive range of assets, including most of the leading cryptocurrencies. Visit the platform now.
Step 2. Deposit money
Broker platforms typically accept only fiat currencies (e.g. GBP, USD, and EUR) as payment options, but might charge a fee for deposits and withdrawals. You can check out our reviews to help you find the brokers that charge the lowest fees and accept specific payment methods.
Step 3. Decide how you’d like to trade
With broker platforms, your two options are spread betting or using CFDs (Contracts for Difference). These approaches offer different pros and cons, but with both you are trading against the value of TRX without ever having to take ownership of the coins – so there’s no need for a wallet.
Step 4. Start trading
Once you’re ready to go, it’s a good idea to start with a demo account before risking your money. Most reputable platforms offer these accounts so you can learn the ropes, before moving on to the live markets. Bear in mind that crypto markets can be volatile and take time to understand the trading process before putting your hard-earned money into it.
As a trader, you’re speculating on the currency’s price movements by taking a short (sell) or long (buy) position. If you think TRX will fall in value you should take a short position, if you think it will rise in value you should take a long position.
You may also choose to incorporate leverage into your strategy. Leverage is a method where you put up a fraction of the overall trade value as a deposit or ‘margin’ and make big bets by loaning the rest of the money from your broker. This can be risky, as your losses can grow just as fast as your profits when you use leverage, so we don’t recommend it for beginners.
If you’re still considering whether you want to spend your money, we’ve condensed everything you need to consider into these pros and cons and a few key questions. Keep reading to get all the necessary information.
- The coin and platform has performed well in recent years
- You can use Tron to access content and tip anyone who created it on the Tron network
- The broader ‘altcoin’ market is becoming increasingly popular
Additionally to these quick pros and cons, here are three questions that are of central importance when investing in Tron.
1. Is it a good time to buy Tron?
It depends on your goals and your timeframe for seeing returns. If you believe in the overarching vision of the Tron network and want to be involved as it pursues its ambition of decentralising the internet, then you’re going to use your coins and it’s a good idea to get some.
If you’re looking at Tron as a more of a short term trading prospect, then you should undertake some technical analysis of its recent performance to see if you can identify patterns that might repeat in the future. The current price of TRON isn’t as relevant to this decision as your confidence in your ability to anticipate price movements.
To help you keep up-to-date with the crypto markets, and how recent developments might impact Tron’s value, find our most recent TRX analysis articles here:
Monero, Waves, Tron price analysis roundup
TRON (TRX) remains in a bear market despite ongoing election uncertainty
TRON (TRX) price struggling at $0.030 resistance
2. What problem does Tron solve, and what are the coin’s investment prospects?
If the Tron network can achieve its goals, it’s aiming to change the relationship between content creators and consumers. By establishing a peer-to-peer network supported by a blockchain and the TRX cryptocurrency, Tron could become a centrally important organisation in the entertainment industry.
As an investment prospect, Tron has performed well since launching in 2017. If this growth continues then it’ll mean the price will continue to grow, but you need to undertake your own fundamental analysis to determine if you think Tron is viable in the long term or what we’re seeing now is just a short-term bubble.
You can find the most recent news about Tron below in order to stay informed and guide your investment decisions.
Cryptocurrencies under $1 to help you diversify on a budget
Is Tronix (TRX) a good buy in June 2022?
Can Tron (TRX) maintain its value long-term after efforts for stablecoin peg?
3. Do you want to hold TRX for the long term?
Depending on current market conditions and your chosen trading strategy, buying and holding TRX for long periods of time comes with different pros and cons. Here’s a quick breakdown of what to consider when looking either to the short or long term.
Considerations for a long term investment strategy
If your research leads you to believe that the project has strong potential for future growth then you might want to get and hold some coins straight away. For this approach, you should head to an exchange, and then consider moving it to a secure wallet.
Considerations for a short term trading strategy
If you’re not totally convinced by Tron’s long-term prospects but have an eye for technical analysis and reading price charts, then a better approach would be to sign up to a broker and trade TRX. If you can anticipate price movements, then you can make money from market fluctuations – but you are also at risk of losing money if you call it wrong.
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