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How to Buy Tron (TRX)

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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 brokers and exchanges that offer the option to buy Tron Tokens (TRX) with a credit card, debit card or Bitcoin (BTC).

Binance

Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Tron Tokens (TRX) here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.

This exchange is best for Australia, Canada, Singapore, UK & international users. They do not sell Tron (TRX) to USA investors.

Read our Binance Review or visit Binance.

Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

Paybis

Paybis operate a very well-trusted Bitcoin and cryptocurrency purchase platform where you can buy BNB and a range of other crypto using nothing more than your credit or debit card. They have been around since 2014 and have helped hundreds of thousands of people to make Bitcoin purchases.

If you simply want to buy BNB and hold then this is one of the easiest ways to buy BNB with a credit card or debit card.

USA Customers are welcome to buy TRON excluding residents from these states: Alaska, Louisiana, Hawaii, Nevada, New Mexico, New York, Vermont, Washington.

Read our Paybis Review or visit Paybis.

Kraken

Kraken is one of the longstanding names when it comes to cryptocurrency exchanges operating in the industry.

From humble beginnings, they have now gone on to become one of the most recognizable names in the space offering an extensive selection of assets to trade including Tron Tokens (TRX).

The trading costs are competitive with other exchanges and they have continued to evolve now offering both futures and margin trading.

USA residents are welcome.

Read our Kraken Review or visit Kraken.

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.

Projected Developments?

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.

  • BitTorrent
  • Steemit

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.

Underlying Ideology?

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.

Regulation?

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.

Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.

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