What Is TRON?
TRON (TRX) is a digital currency that powers the Tron network - a blockchain-based system that focuses primarily on content delivery and data ownership. Originally, TRX was an ERC-20-based token. But then, in 2018, developers separated TRON to become its own token on another blockchain.
The idea of the project belongs to Justin Sun, and now, it is led by the Tron Foundation. Tron's fundamental goal is to cut corporate middlemen in content distribution. That is, content creators will have absolute control over the media they create without platforms like Amazon, Netflix, or YouTube. This includes even the way the said media will be distributed.
Here is how it works on the inside: Tron makes it possible for developers to build and deploy decentralized applications and smart contracts. In turn, they receive digital assets as compensation. These dApps can have many different purposes, including entertainment, education, social media, online games, lending platforms, etc.
TRON coin is available on any major trading platform and ranks #26 by market cap ($6.866 billion). The coin’s popularity was mellow as the coin experienced appreciation hiatus in 2018-2020. In 2021, the coin started gaining more traction again, and the trading volume reached $766 million in 2022.
How is the price of TRX determined?
Сryptocurrency prices are not set or regulated by any specific entity. The price of TRX you see on a cryptocurrency exchange has been determined by various market factors. Besides, you might pay higher or lower than the market price, depending on which platform you buy the currency from. The exchange rate from a local currency may also influence the final price.
To give you a few examples of what drives TRON prices, these are supply/demand, mining efficiency, popularity and the power of media, and rules and regulations. Of course, you should always keep your eyes on Bitcoin (as the market leader) and Ethereum (another major cryptocurrency and the creator of TRX’s token standard).
Can you buy TRX without KYC on Changelly?
It depends. If you choose certain fiat services, you will be required to pass KYC verification process. In other cases, this step may be skipped. Ultimately, the choice is up to your payment method. You will be provided with more details before you pay - usually, after you select the currency and enter your provider’s info in the exchange window.
Can I buy less than 1 TRX?
The price of one TRX coin is about 0.07 USD. Even if this value surges, it will take a long time until a fraction of a coin is worth a decent amount. So, for now, you can only exchange multiple coins, not fractions of one. The lowest threshold for TRON is 402 TRX, which is equivalent to 30 USD.
Perhaps as the project grows, the minimal amount will come to a fractional amount at some point. But based on where things are now, it would simply be not feasible to buy half a TRX token. Our calculator showcases how many coins you’ll get when buying crypto using different fiat currencies.
What are the fees to buy TRON?
The two types of fees you need to consider are the network one and the trading platform one. The Tron network is set at 32.075514 TRX, which doesn’t change whether you lower or increase your transaction amount. This commission is paid to blockchain miners.
The other fee is a percentage, which is different for every platform. To give you some ballpark numbers, the total fee for Changelly and Moonpay is 7.5%; with Changelly and Indacoin, the fee is 10%. The good news is that you don’t need to search and calculate these percentages, they are already included in the listing of offers.
Where can I store TRX?
Since Tron is no longer an ERC-20-based token, you can’t store your coins in any wallet that is compatible with the Ethereum blockchain. There are many companies that offer digital applications and physical devices for TRX, so you won’t have issues in that regard. Prioritize moving your coins from an exchange to a more reliable third-party solution as soon as you buy them.
What is the best Tron wallet?
TronLink Wallet is the first official coin storage backed by the Tron Foundation. Of all exchanges and Tron wallets, this one has by far the highest number of users. Alternatively, you can sign up for a cross-chain service, meaning that the service supports other coins hosted on different blockchains. For example, Binance, Coinbase, and Atomic Wallet.
There is another solid option - hardware wallets. These store users’ private keys in a secure physical device that is not connected to the Internet (with a few exceptions). The best ones are Trezor, Ledger, and Exodus.
How to cash out TRX?
Some people choose to turn their crypto investments into cash to avoid the market risk associated with price fluctuations. If you’re one of them, here is what you need to do.
Find the Sell cryptocurrencies tab on Changelly’s website (or application if you prefer mobile). The price and other trade parameters will be displayed on the screen. Basically, you need to sell your TRX for your chosen fiat currency through our partner.
The newly exchanged funds will be in your bank account shortly. After that, go to an ATM that is compatible with your bank and cash out there. You can swap/exchange TRX for any popular cryptocurrencies on Changelly at low fees before cashing out.
Can I buy Tron cryptocurrency with PayPal?
When it comes to crypto services, PayPal is currently very limited. You have to be in the USA to get access to only four cryptocurrencies - Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). TRX or any other assets, for that matter, are not on this list. There may be new additions in the future, but no specific plans have been announced yet.
Here are more details about what’s available: you can buy, sell, hold, and use crypto as payment in the United States. However, you can’t send crypto to other accounts or receive coins from other users. So, buying Tron with the payment method is a little bit difficult.
Do I need a bank account to buy Tron?
Making payments with bank transfer is just one of the many payment methods available when interacting with on-ramp sellers (Fiat-to-crypto). Other great alternatives that don't require the user to have a bank account include Prepaid cards and mobile payment options (Apple Pay or Google Pay). Physical Visa and MasterCard Prepaid cards may be purchased from storefronts, and users can open virtual accounts with online services.
Can I buy Tron with a credit or debit card?
Yes, purchase TRX with debit or credit card instantly on Changelly. Bank cards are widely supported by trusted ATMs, cryptocurrency exchanges, and vendors. The processing times are instant, unlike bank transfers which may take up to three working days to be confirmed. Use a 3D secure card and provide accurate account details.
How quickly will I receive TRX after purchase?
Customers typically receive the crypto assets in their wallets within 5 to 30 minutes on Changelly.com. That said, delays when buying TRX may be occasioned by network congestion on the blockchain. In rare instances, it may also take longer to process payments. Even if it takes a little bit longer to receive the funds the payments are 100% safe.
Can I trade with Tron cryptocurrency?
Trading Tron crypto is possible on crypto exchange platforms with professional trading features that allow users to implement short-term and long-term trading strategies. For instance, on our proprietary trading platform Changelly Pro, traders can open various types of orders: market, limit, and stop-loss. It has other intuitive features such as multi-view price charts and technical analysis tools.
Can I get Tron for free?
There are multiple ways to get Tron for free. The first method entails signing up on get-paid-to sites and completing various simple tasks such as watching videos or downloading apps. In return, the platform provides free points that may be redeemable for Tron and other available cryptocurrencies. Users can also search for Tron crypto faucets. They are set up to issue free coins either randomly or to new users to onboard them to the platform.