Should I buy Tron

Before I start into how to buy Tron we should first look at should I buy Tron or not. Now, this is not an easy question for me as I love EOS and Tron is a very similar project to EOS. However, we should look at some of the pros and cons of Tron over EOS and why it is good to look into new currencies overall.

Good reasons to buy Tron over EOS

Marketing

So far we have seen a very aggressive marketing tactic from Justin Sun (Tron CEO). Some of these tactics have worked and some not so much. We have heard that there is more significant marketing coming from EOS however right now Tron is leading on this one.

Creation

The ease of creation of an account is similar to how you would get an ETH account. Eos needs to learn in this regard as it is much easier to get up and running on Tron.

Good reasons to buy EOS over Tron

Ownership

EOS has an ownership model rather than a rental model like Tron and ETH. Which means buying EOS is like owning virtual real estate. Many prefer this model as once you own you can then rent that back out to other people for a fee.

Speed

Right now EOS has done more transactions per second. However, this is not to say Tron won’t overtake it in the future, but right now EOS is ahead in this regard.

Network activity

Now EOS is not only just huge on activity, but if we look at all of EOS.io, then the activity on this as a whole is monstrous. Looking at Blocktivity today Tron is still trailing behind at 4th place.

Overall both EOS and Tron are thriving right now when we look at them both against ETH, and I would say that they are so close in many factors that they could both become huge. I am confident this will become more clear in the next few years.

Where to buy Tron cryptocurrency

You can buy Tron in many places buy as I always recommend Binance is my go-to platform currently. Markets might change and Binance might not become the leader in the future but right now it is looking like it will hold its dominant position for a while yet.

Binance is fast taking over Coinbase’s dominance in the crypto market. All Binance needs to offer now is a way to withdraw Crypto and Coinbase will finally have a real competitor.

Where to buy Tron coin with USD

I spoke about this in more detail in my how to buy EOS post. I talked about how you can buy cryptocurrencies direct from USD on Binance now which is a huge bonus. You can check out that post with the method there however I will be talking about how to do this later on.

Where to buy TRX coin but not Tron

Tron and TRX are the same thing (Kind of). TRX is the coin for the Tron network. The Tron network works similar to Etherium in this regard as Tron is the network but is often referred to as the token also. It may seem a little confusing at first; however they are pretty much the same, and most people will not correct you when you ask about buying Tron, but like all things on the internet you will get corrected somewhere.

Is there a DEX where can I buy TRX coin

I was struggling to find a DEX where you can buy TRX however there are decentralised exchanges on the Tron network. I saw TRXMarket which claims to be “The first decentralised exchange based on TRON network”. I don’t know how true this claim is, but I am glad there is somewhere on the Tron network where you can buy tokens as you would on Newdex.

Where to buy Tron TRX that is not Binance

The next biggest exchange I could find to buy TRX was Bittrex. The main issue with Bittrex is you cannot buy directly with fiat, so it is not as competitive. However, it is still a massive market for traders and is always worth having an account there just in case other exchanges are down.

Where can I buy Tron coin with USD, not on Binance

Trying to buy crypto, in general, is still not always an easy task. If you do not have a Binance account, you can always look to Coinbase. The main issue with Coinbase is they don’t have many options of what to buy. So you would need to buy from there and then transfer to a different exchange such as Bittrex to exchange to a coin you like. So this method is not ideal, but I will go into how to do this a little later just in case people are interested.

Where to buy Tron coin internationally

As some of you may know I do not live in the US so even though I do write about how to buy these things in the US I cannot always do these methods myself. However, Binance and Coinbase are very much international companies and are used in most countries. Binance does have a restricted list however which you can check out Here. If your country is on this list, you may need to look at local exchanges or other ways around this.

How to buy Tron cryptocurrency

Finally, we get to the question of how to buy Tron coin? Or how to buy TRX to be exact. As I said before, there are many ways you can buy TRX which ranges from Buying direct with USD to buying with BTC or other cryptocurrencies. However, there is also how to buy Tron TRX when trading. Trading is a whole different ball game, and I covered it in how to day trade cryptocurrency so feel free to check that out.

How to buy Tron with Bitcoin

If you already have bitcoin in a wallet then buying TRX is a straightforward process. All you need to do is go to the exchange you are using and navigate to the wallet section on the exchange. On Binance you will be looking for “Funds” and then “Balances”. Once there you can see the names of all the, and you can do a quick search for BTC. Try not to search for Bitcoin as there are many different chains with Bitcoin in the name and you don’t want to be sending money to the wrong wallet. Once you have found BTC you will want to click on “Deposit” this will then bring a page up with your “BTC Deposit Address”. You will need to send your bitcoin to that address first before we can start buying TRX.

Once the BTC has arrived in the wallet, we then need to be going back to the wallet page and searching for TRX. Once you have found it, you will want to click on the “Trade” button and then TRX/BTC. Doing this should bring you to a new page where the trade can be made. If you are a beginner, then this page can sometimes be a little overwhelming so try not to look at all the information as we want to be focusing on the box underneath the chart that says “Buy TRX”. Now the best way to buy for a beginner is to click on the “Market” tab in that box and then to type in the amount you would like to buy or using the % buttons. Warning though clicking 100% will sell all of your bitcoin into TRX.

Now we can buy a different way using the “Limit” tab, and this gives you much more control on how much you are buying the coins for however if you just want to get into an investment and are not sure about all of this then the “Market” tab is much quicker and easier.

How to buy TRX coin with Bitcoin without using Binance

If you are using Bitcoin, then the process is pretty much the same on all exchanges. Let us take Bittrex for instance. We will still click on the wallet section and send over our Bitcoin. However, this time once the Bitcoin arrives we need to be clicking on “Market” at the top and then searching for TRX. Once we click that it will take us to the exchange page.

The Bittrex exchange page is not made for beginners it is more for traders however you can still go ahead and use this but make sure you are putting in the correct amounts you are wanting to buy at as if you put one zero wrong in this you could be buying at a much more inflated rate.

How to buy Tron with USD

If you are using Binance it is very similar steps once you have money on the site. Once on the site, you want to be directing yourself to the “Funds” section and then “Buy with a credit card”. Once you are there, you want to be buying Bitcoin and then following the directions above. You will not need to send Bitcoin to the site however as it is already there, so the process is much more straightforward for users.

How to buy Tron coin with USD away from Binance

With the limited access that I mentioned earlier to crypto, you need to be looking at Coinbase as your next goto place for getting into Crypto. The great thing about Coinbase is it is an on and off ramp to crypto and is pretty much the only viable option right now to getting cryptocurrency back into fiat.

Once you have signed up for Coinbase you will need to fill in personal data and also do the KYC forms this is to make sure they know who you are and they do a background check on you for anti-money laundering laws.

The main issue with all of this is it can take a few days to get set up so even if you are not buying from here, it is worth getting set up and ready just in case you need to use it in the future.

Once you are fully set up and ready to go you will want to buy into Bitcoin like explained previously and then send that Bitcoin over to Bittrex and then follow the instructions from earlier.

How to buy Tron stock

Tron is not currently a publically traded company so you cannot buy Tron stocks. When you are buying a coin or token in the blockchain industry, it is a common misconception that you are becoming a stockholder of that company. However, this is not true in most cases. I do believe that cryptocurrency is becoming the new way to create funding for tech projects and could be considered in the future stocks in some way however we are not quite there yet, and this will take some time.

Conclusion

After researching Tron for this post, I am feeling quite positive about the project. Yes it has had some terrible press, and some of it was for an excellent reason, but all in all the project seems to keep going and keep evolving.

I think I will be investing it Tron now I have looked into it further even though it may not be a considerable percentage of my portfolio I feel like Tron does have a future and will be an excellent rival for EOS. I am not a person that thinks there is only ever going to be one company that takes all as just like the internet there are many choices for different things, and even though there is usually a clear winner such as Google there is always a competitor around the corner trying to innervate and take there own place in the mark.

Disclaimer: None of the information I have given should be taken as financial or legal advice I am not a financial advisor and please do your research on any of the products or information I have provided.


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Responses

  1. TIMM

    More great and thorough research, Martin. Thank you very much for your hard work. Lots of people are looking at this one and Justin has a following. Competition is good too, pushing these projects to a higher level than they would likely attain in one horse races. Of course, every now and then you get a Secretariat, which might as well be one horse race. 😉 A crypto-analyst remarked recently:

    “Yeah, transaction and function wise, ETH has some growing up to do.
    ETH is an oldsmobile, and EOS a lambo.”

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  2. James Diegel

    Nice overview and contrast comparison of TRON with EOS. I’m with you in that I don’t think that there will ever only be one crypto. I guess at present you could say there is one crypto to rule them all (bitcoin) but I think as the space evolves that solid projects with good applications and user bases will eventually decouple from big daddy bitcoin. I also agree that both TRON and EOS are cryptos to watch in the future. Thanks for the share Martin 😉

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  3. Workin2005

    Well researched overview of TRON Martin. I’ve said some negative things about Justin Sun in the past that have caused me to eat humble pie. The guy has his weaknesses, but has been great for TRON overall. Complete agree with you…TRX looks like a solid coin to hold over the coming years. Thanks for sharing.

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  4. Prab

    Great sum up @dobsdies Tron foundations is planning a lot in the coming months, the Sun network, collaboration with Ethereum, Bitorrent BTT etc… The coin could be bullish or who knows if it is only a fuss & marketing. Time will spit the truth out 😀

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  5. CryptosDecrypted

    Lots of useful information here on Tron Martin. I hold a little as a hedge but give preference to EOS because it is a little more focused on delivery overhype. Nonetheless, Tron is a big project and well worth tracking. Cheers.

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