How to buy Tron Coin online
This page takes you step-by-step through everything you need to know about Tron and the TRX crypto coin, so you can feel secure when investing in cryptocurrency.
Compare where to buy Tron Coin, and open an account
You can follow any of the links below if you’re ready to buy Tron right 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.
What is Tron?
Tron Coin – or TRX – is the cryptocurrency token used on the Tron network. The word ‘Tron’ is often used to refer to both the Tronix crypto 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 content 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 Tronix TRX work?
As a crypto token, Tronix TRX functions much like any other cryptocurrency. Tron transactions are made between users without the need for a bank or centralised authority to act as a middleman, with all movements of Tron being recorded on a public blockchain. This means you can exchange TRX for Bitcoin or other cryptocurrencies on crypto exchanges, or use it for making payments on the Tron 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 when buying Tronix crypto tokens. More information can be found in our Tron 101 course so you understand everything about both the network and the token.
How to buy Tron Coin online – a step-by-step guide
Step 1. Find an exchange to buy Tron
In order to buy Tron, you’ll need to find an exchange that supports trading TRX. It is difficult to find platforms that allow you to buy Tron with fiat currency, so you’ll usually have to buy some other crypto (e.g. Bitcoin) and then transfer that to your exchange account and trade it for Tron Coin.
There are many different crypto 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, we believe the following two exchanges to be the best places to buy Tron 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 can buy Tron and a whole range of other cryptocurrencies instantly, along with seeing all the latest price charts and information to help make your decision before you invest. Head to the platform via this link.
Step 2. Sign up and fund your account
In order to use a crypto 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. Buy TRX
In order to buy Tron, simply navigate to your exchange’s trading interface and search for TRX (the Tron token ticker symbol). If you’re buying Tron with a specific cryptocurrency – for example Bitcoin – you’ll need to find the relevant currency pair (TRX/BTC) 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 transfer your TRX to a personal 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 and Freewallet.
How to trade Tron – step-by-step guide
Step 1. Find a broker
In order to trade TRX, instead of an exchange you should find a reliable broker. Brokers allow you to trade cryptocurrencies, including Tron by opening and closing positions quickly as the market fluctuates. Some brokers also allow you to trade Tron with leverage, but this should be left to experienced investors as it carries increased risk.
The information you’ll find on Invezz can help you select the right broker for your trading needs, and two of our favourite Tron brokers are:
- eToro: One of the world’s most widely used brokers, eToro allows you to trade 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 to trade, including cryptocurrencies such as Tron. Visit the platform now.
Step 2. Deposit money
In order to trade Tron using a broker you need to create an account and deposit funds. These platforms typically accept only fiat currencies (e.g. GBP, USD, and EUR) as payment options, with you then able to use these funds to trade in the crypto markets. 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 for trading TRX 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 trading with a demo account before risking your money. Most reputable platforms offer these accounts so you can learn the ropes, before moving on to trading Tron on live markets. Bear in mind that crypto markets can be highly volatile and take time to understand the trading process before putting your hard-earned money into it.
As a crypto 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 trading strategy. Leveraged trading allows you to put up a fraction of the trade’s value as a deposit or ‘margin’. This should be left to experienced traders, as your losses can grow just as fast as your profits when trading with leverage.
Still undecided?
If you’re still considering whether you want to buy TRX or not, 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.
Pros
- TRX has performed well in recent years
- You can trade Tron for Bitcoin and other cryptocurrencies
- TRX can be used to access content on the Tron Network
- More and more people are putting money into altcoins
Cons
- Huge supply of TRX makes it less attractive to investors
- Tron Network isn’t yet fully operational
- Have been allegations that the Tron Foundation has engaged in fraud and plagiarism
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 TRX?
It depends on what your reasons for buying Tron are. 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 it’s always a good time to buy. This is not just because you can use your coins eventually on the network, but because advancements like this will likely inflate the value of TRX.
If you’re looking at Tron as 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 TRX 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 and is currently one of the largest cryptos by market capitalisation. 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.
How does TRON’s new cross-chain solution impact user experience?
TRC20-USDT market cap is about to surpass ERC20-USDT
TRON (TRX) partners with MixMarvel for more NFTs on its ecosystem
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 into Tron leads you to believe that the project has strong potential for future growth then it’s a good idea to put some money into TRX and hold it as the market hopefully moves in your favour. For this approach, you should head to an exchange and buy some Tron, and then consider moving it to a secure wallet.
Be sure to keep an eye on Tron’s price, however, and be ready to cash out if the market moves against you in order to minimise your losses.
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.
Similarly to long term investing, manage your potential losses wisely in order to protect yourself from being wiped out. With trading, it’s always most important to live to fight another day even if you make a wrong call.
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