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TRON is a decentralized virtual machine that was built to help usher in the decentralized internet. Similarly to Ethereum, TRON enables Dapp developers to create and utilize complex protocols via smart contracts that live on its native blockchain. Today the platform is best known for its transaction speeds and its lively CEO. To learn more visit our Investing in Tron guide.
We feature the top 5 exchanges that offer the option to buy Tron (TRX) with a credit card, debit card or Bitcoin (BTC).
Founded in 2011, Kraken is one of the most trusted names in the cryptocurrency industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
From humble beginnings, Kraken now offers over 200 digital assets including Tron (TRX). For more sophisticated investors Kraken also offers futures and margin trading.
Kraken has continued to evolve its platform, and its commitment to the industry by being one of the first exchanges to offer buying opportunities on new tokens. Users can also earn up to 23% in rewards annually by staking select digital assets.
Kraken offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state)
A top exchange in the United States & UK, Uphold is an experienced and extremely innovative trading platform that should be able to meet your needs for trading across a number of cryptocurrencies including Tron (TRX). Beyond the ease of use and innovative features within the trading platform, what stands out about Uphold is the credibility it has gained in the industry.
Uphold offers both a desktop and mobile app trading experience that is extremely intuitive. The trading view is completely customizable with the assets that you trade the most, and is very easy to navigate while providing a modern feel on both desktop and mobile. It is a very popular and suitable choice, particularly for new traders.
Besides being visibly appealing, the Uphold trading platform allows you to place your trades with great ease. Just a couple of clicks and you can make trades directly from your deposit method without even having to wait for funds to clear to your account. This one-step ordering is another innovation from a company which prides itself on the usability of its platform. Uphold also provides the ability to execute limit orders.
Germany & Netherland residents are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Tron (TRX) here are both lower fees than competing exchanges, and increased liquidity enabling you to buy and sell quickly to take advantage of market moving news.
This exchange is best for investors residing in Australia, Canada, Singapore, UK & internationally. USA residents are prohibited from purchasing Tron (TRX).
Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin is a well-known name in the industry, and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto to crypto trading. It now offers a varied range of services including a P2P exchange capability, and purchasing with credit or debit cards.
KuCoin currently offers Tron (TRX) cryptocurrency trading as well as over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens.
This exchange currently accepts USA residents.
Launched in 2018, WazirX is India’s biggest cryptocurrency exchange with over 6,o00,000 users, and is expanding rapidly. It is one of the most reputable exchanges to currently offer Tron (TRX) trading opportunities and currently accept clients from all over the world. This exchange is part of the Binance Group, which ensures a high standard of quality.
USA residents are prohibited.
What is Tron (TRX)?
Tron is an open-source blockchain, built to facilitate democratic content sharing and value/data transfers. This overall goal is often likened to ‘decentralizing the internet’.
What does it do?
Through use of its network token, Tron (TRX), the Tron blockchain allows for content creators and consumers to directly interact – eliminating unnecessary third-parties, or ‘middlemen’.
In addition to facilitating value/data transfers, the Tron blockchain supports the use of smart-contracts – enabling decentralized applications (DApps) to be run. Developers creating DApps on the Tron network are able to create their own Tron-based tokens, similar to Ethereum and its use of the ERC-20 standard. These tokens, however, are known as being either TRC10 or TRC20, when utilizing the Tron network.
How does Tron (TRX) work?
The Tron network functions through use of its own variant of ‘delegated-proof-of-stake (DPoS)’ known as ‘Tron-proof-of-stake (TPoS). This form of consensus involves typical staking procedures found in the similar proof-of-stake protocols. The difference is that in a TPoS, voting capabilities are delegated to elected representatives. Furthermore, Tron notes that TPoS allows for incentivized voting.
Development at Tron is largely overseen by the ‘Tron Foundation’ – a non-profit organization tasked with developing and seeking out use-cases for the project.
To date, Tron has completed several large acquisitions – each keeping in line with the goal of developing a decentralized internet. The following are each examples of these strategic acquisitions.
Moving forward, it is expected that the developers at Tron will continue to work on increasing the scalability of its network, and ancillary projects such as the recently launched, Sun Network.
Tron was founded on a strong set of ideologies. These were built around the idea that content creators and consumers should be able to access a decentralized internet, free from the manipulation of powerful companies.
A decentralized internet is widely viewed to be a more democratic, honest, and privacy centric variant of the internet we know today.
Acceptance and Controversies?
With regards to acceptance, Tron is ahead of most projects. Not only has it become a mainstay in the top 20 projects by marketcap, it is readily available on nearly every respected exchange. This accessibility and popularity has also led companies in the burgeoning digital securities sector to begin supporting the network for token issuances.
While Tron may not be the most controversial project around, it has had its fair share of hiccups since launch. Perhaps due to his presence on social media, various actions by Tron founder, Justin Sun, have also resulted in controversy – such as multi-million dollar lunches with Warren Buffet.
Most recently, multiple employees have launched a lawsuit against Tron, alleging that they were unfairly treated after raising concerns about the direction of the company. It is also alleged that this mistreatment culminated in the eventual firing of the employees.
This is not the only instance of a disgruntled former employee. In mid-2019, Tron cofounder, Lucien Chen, forfeited his post as CTO as he believed the project had strayed too far from its original ideologies surrounding decentralization.
At the time of writing, there has not been any official statement on the classification of Tron by regulators. While this may be a promising sign, as the project has been around for years now, this does not remove the possibility that the asset could be deemed a security. One aspect of TRX tokens which could be cause for concern is the integrated staking capabilities, as this may be viewed as an expected return/profit on investment.
For the time being, it is widely viewed that TRX tokens are utility tokens
Who Made It?
Tron was originally established in 2014, by Founder and CEO, Justin Sun. The current iteration of the project was developed and launched in 2017, along with the Tron foundation.
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