How to Buy TRON in 2020: Buy, Sell & Trade

TRON is a decentralised P2P entertainment and content sharing platform powered by blockchain. Tronix (TRX) is the TRON cryptocurrency that traders are getting excited about. This guide shows you how to buy TRON and how to trade it in 2020. 

Where to buy Tron

Read on to find out more about TRON (TRX) and how it works or skip ahead to our step-by-step buyers guide if you’re up to speed and ready buy TRON (TRX).

24option
Key Features
Offers BTC, XRP, LTC, ETH and many more
Juventus Official Partner
Multiple payment methods including PayPal
Min Deposit
$250
China
Start Trading View key features
Key Features
Offers BTC, XRP, LTC, ETH and many more
Juventus Official Partner
Multiple payment methods including PayPal
Top Coins
  • BTC
  • XRP
  • LTC
  • EOS
  • BTG
Payment Methods
Credit Card, Debit Card, Skrill
24Option is an online CFD broker providing an intuitive trading platform designed with the latest technological advancements that are geared towards new traders as well as professionals.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.27% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
$1
China
Start Trading View key features
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • BTC
  • DOGE
  • TRX
  • ZRX
  • ARK
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Bitpanda
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Min Deposit
$1
China
Start Trading View key features
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Top Coins
Payment Methods
Visa, Mastercard, Neteller, Skrill, Sofort, Giropay, EPS, Credit Card
BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
$1
China
Start Trading View key features
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
  • BTC
  • LTC
  • XRP
  • ETH
  • BCH
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Coinmama
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Min Deposit
$50
China
Start Trading View key features
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Top Coins
  • BTC
  • DOGE
  • ADA
  • LIBRA
  • BNB
Payment Methods
Credit Card
Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.

What is TRON?

The developers at TRON envisaged a platform that people from all over the world could use to easily source digital content direct from the publisher.

The use of blockchain and P2P technology will help facilitate the bridging of the gap between content producers and content consumers. 

How does TRON TRX work?

To encourage great content, TRON created Tronix (TRX) – the cryptocurrency that’s used within the TRON community. TRON users can pay for the content they want to see using TRX. The coins go to the content producer so, in theory at least, the better the content you produce, the more TRX you can earn. 

Once you’ve started earning TRX you can exchange it for Bitcoin (BTC) or any number of other cryptocurrencies, but if you don’t have the time or patience to earn TRX by creating content, you can always buy TRON coins. 

How to buy TRON online – step-by-step guide

Step 1. Get a suitable wallet

Finding a wallet for your TRX is fairly easy these days as plenty of reputable developers have opened up compatibility. Its important to have a wallet ready before you go and buy TRX. We’ve had a look around and picked out three of our favourites: 

Ledger Nano X: In our humble opinion, there’s no safer way to store your cryptocurrencies than in a hardware wallet, and the Ledger Nano X is one of our top picks. It’s not the most expensive HW wallet on the market, but it’s also not the cheapest so it might not be perfect for casual traders.  

Trust Wallet: With its clean, easy to use and mobile-friendly interface, you won’t go too far wrong with the Trust Wallet. And with Android and iOS versions it will be suitable for most users.

Exodus Wallet: If you’re looking for a slick desktop client then the Exodus wallet could be the one. There’s also a mobile version, but we like the desktop version best. 

Step 2. Find an exchange to buy TRON

There are plenty of exchanges out there if you’re looking to buy TRON (TRX). Here are some of the more popular options: 

Binance: This is usually the first port of call for us when we’re in the market for cryptocurrencies and it’s as good a place as any to buy TRX. 

Bitpanda: If you can’t find what you’re looking for at Binance, the next best place for buying TRON is BitPanda. If you’re on mobile, you can download the Bitpanda app and buy TRON on the go.  

Step 3. Withdraw your TRON

Once you’ve acquired your TRX, it’s wise to withdraw it from the exchange as soon as possible. While exchange security has generally improved, it’s always safer to keep your cryptocurrencies in a wallet.  

How to trade TRON – step-by-step guide

If you’re only intending to trade TRX, there’s no need to bother with a digital wallet because you’ll be speculating on the value of your chosen currency rather buying TRON coins.

Step 1. Find a broker to trade TRON

When you start out, the first thing you’ll want to do is find a broker. There are plenty of brokers that specialise in cryptocurrency trading, but we like eToro and Plus500

Step 2. Deposit money

Most trading platforms will allow you to deposit Fiat money (USD, GBP, EUR etc.). It’s worth noting that trading platforms offer leveraged trading, which means you don’t have to put up the full value of a trade. Instead you can pay a deposit, known as a ‘margin’. This means you can potentially make bigger profits and but also bigger losses as opposed to simply buying TRX.

Step 3. Decide how you’d like to trade

There are two methods to trade cryptocurrencies: CFDs (contracts for difference) and Spread Betting. Both methods essentially entail speculating on the price movements of your chosen currency. If you aren’t sure which option to go for, we recommend researching the differences between spreads and CFDs.

Step 4. Start trading 

Before you jump in, you might want to open a demo account with your broker. This is the best way to get a feel for the platform and develop a better understanding of what crypto trading is all about. 

When you feel you’re ready to trade with real money you can step up to a live account, but please bear in mind that cryptocurrencies are highly volatile and it’s easy to win and lose money very quickly. 

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 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 can be risky, though, so make sure you have a stop loss in place for damage limitation. 

Still undecided?

Pros
  • TRON TRX is expected to do well in 2020
  • Now more than ever, people are looking for alternative places to find content
  • TRON can be exchanged for Bitcoin
Cons
  • Huge supply of TRX makes it less attractive to investors
  • Possibly overvalued as there is no product yet
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.
Invezz uses cookies to provide you with a great user experience. By using Invezz, you accept our privacy policy.