Investing in relatively unknown cryptocurrency isn’t new to crypto traders. With tons of different cryptocurrencies in the market, traders are always on the lookout for the newest digital assets brimming with potential.
In the coming sections, you will learn more about one of the most sought-after altcoins today, Tron cryptocurrency. Although this digital asset is relatively newer compared to crypto giants like Bitcoin (BTC) and Ether (ETH), it shows a lot of potential worth discovering. Keep reading to learn more about Tron below:
An overview of Tron cryptocurrency
Founded in 2017, Tron cryptocurrency is based in Singapore and was spearheaded by founder and CEO Justin Sun, who was able to acquire a $70 million initial coin offering in that same year.
In its first year, Tron was an ERC-20 token reliant on the Ethereum blockchain until transferred to its own independent peer-to-peer network in 2018. The objective of the Tron platform and its cryptocurrency is to offer a seamless experience in using a decentralized platform. In fact, the slogan displayed on their website says that Tron’s mission is to ‘decentralize the web’.
Tron’s cryptocurrency is referred to as Tronix or TRX. As of today, it currently holds a price of $0.076558 and a market cap of $5.48 billion. The platform, on the other hand, is currently handling more than 37 million accounts worldwide and billions of transactions daily. It proves that Tron is quickly rising through the ranks and gaining the attention of crypto traders.
Why you should use Tron cryptocurrency
There are many popular cryptocurrencies out there, but why should you go for Tron? What makes it stand out among the rest? Read more about Tron below and find out why you should start trading TRX today.
Excellent decentralized trading experience and entertainment system
When joining the Tron bandwagon, you can enjoy the entertainment system on the platform as well as a dynamic cryptocurrency in TRX. You can simply register to make an account and access all of the benefits that the platform has to offer. For those who want to trade the cryptocurrency, you can do so on major platforms such as eToro, Binance, and even cold storage options that offer cross-chain trades like Trezor.
No transaction fees
One of the big selling points that Tron offers is zero transaction fees. The company aims to eliminate the middleman and make the experience as easy and affordable as possible for its users. So, if you complete a transaction in the Tron platform, these will be completed within a few minutes and you won’t have to pay a single penny.
Big plans for the future
Outside of the main platform, Tron has planned different phases of their offerings from 2018 all the way to 2025. These focus on the world of gaming, but users can still reflect their digital assets for all of these phases. See the list below to learn more:
This was Tron’s first phase that was completed back in 2018, only a year after it was founded. It features a free platform that allows peer-to-peer content sharing and storage through a distributed file system. This is all possible thanks to a web-based system file protocol that is not reliant on any blockchain.
This next phase in Tron’s initiative is called Odyssey and features an entirely different means of viewing and creating content on the platform. You can think of it as tipping a content creator that you like on YouTube. For example, users can get monetary incentives when they post content on the Tron platform. This depends on how much people like their content and if they’re willing to watch more.
Great Voyage (2020) and Apollo (2021)
The Great Voyage and Apollo phases are interconnected. The idea of these two phases is to promote and build the brands of their content creators on the platform. This should make it easier for the users to promote their content and get a bigger following on the Tron platform. If they are successful, this will result in more monetary incentives.
Star Trek (2023) and Eternity (2025)
These are the newest phases that are currently being developed by Tron. The Star Trek and Eternity phase are both in the works and will reportedly allow Tron users to build their market platforms and even raise funds through decentralized gaming! As of now, there is no further information on this phase, but Tron users are certainly excited about it.
How to start trading Tron today
With the continuous success and promise shown by the Tron platform and digital coin, more people are starting to invest. Luckily, buying the TRX coin is easier than ever before, because you can access it on major trading platforms and mobile apps. To learn more, see how you can start trading TRX today:
Crypto trading platforms
Tron is quickly rising through the ranks, so it only makes sense that major platforms such as Binance, Kraken and BitPanda support TRX and allow their users to trade freely. You can add TRX to your current list of digital assets and watch over its performance in the market in real-time. By far, this is the most popular method of trading TRX.
Buying TRX is also possible thanks to several mobile wallets and apps. Crypto brokers are a popular choice, especially for beginners. On the other hand, Tron also has their own decentralized applications available for download in your phone’s app store. This option for buying TX is popular because users can access their funds online instantly.
If you are planning to use TRX for a long term investment, then cold storage options are the best choice. Trezor and Ledger are the best and most popular forms of hardware wallets out there and they both support Tron. All you need to do to store TRX is plug in your device when in use and eject it when you’re done to protect your funds.