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How to Buy Tron (TRX) - A Beginner’s Guide

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TRON (TRX) is one of the more popular coins in the cryptocurrency market, for a variety of reasons. Its main goal is to revolutionise the entertainment industry, and its CEO, Justin Sun, worked hard on achieving it with his team.

TRON may not have an impressively high price, but over the last several years, it made a long list of achievements that are too numerous to count. Some examples include a rapid rise in the dApp space and even the purchase of BitTorrent.

The coin definitely has massive potential for the future of entertainment, and we can help you learn more about it, as well as how to buy TRON.

5 Steps to Buy TRON Instantly!

  1. 1
    Visit our recommended platform to buy TRON by clicking the button below.
  2. 2
    Enter your details in the required fields to create a new account.
  3. 3
    Fund your account using your preferred payment method and confirm your new balance.
  4. 4
    Choose TRON and select a "Instant/Market Order” to buy it instantly.
  5. 5
    Enter the amount you want to buy (you’ll see the equivalent in TRX) and confirm your order!

How to Buy TRON With a Broker?

Buying TRON with a broker is a rather simple procedure, but before you do so, you will first have to ensure that you choose the right broker. With the popularity of cryptocurrency — and especially coins such as TRX — there were plenty of brokers that emerged in recent years, leading up to a rather competitive marketplace.

However, not all brokers are made the same, and choosing the right one is extremely important. Every broker has their own fees, security, and other similar factors that are quite important for you, as a trader. 

It is also important for brokers to be regulatory-compliant, and that they have built-in encryption, for greater security.

With that out of the way, let's talk about actual steps that will lead you to buy TRX with a broker.

1. Register With the Broker

The first step that will lead to buying TRX with a broker is to register with one.

The process is very simple and quick, and all you need to do on platforms such as eToro is come up with a username and a password, plus your email address. That's pretty much all it takes. 

You will need a strong password, but the requirements are nothing special. You need a password that is 6-20 characters long, and it needs to contain at least one number or symbol, and at least one capital letter.

On some other platforms, you don't even need to do that much — you can simply use your social networks or your Google account to have an account made automatically.

2. Verify Your Identity (KYC process)

Most, if not all, legitimate brokers will need you to go through a KYC (Know Your Customer) verification process these days. This is necessary for a few reasons. For example, it prevents criminal activities such as money laundering or liquidating stolen funds.

If a certain amount of cryptocurrency gets stolen, and the authorities can track it down to a certain wallet, brokers will know who is the owner of the wallet, if they ever handled transactions tied to that wallet.

Of course, crypto was created with anonymity in mind, but in order to reach mainstream adoption that it so desperately craves, a compromise has to be made, and the digital asset industry will have to be properly regulated.

Now, the documents that you might have to deliver — the type and amount of documentation — will depend on the broker. However, know that this is an important step that should not and cannot be ignored.

3. Deposit Funds With Your Preferred Payment Method

After finding the best broker and creating a verified account on the platform, the next step is to fund your account and prepare it for future TRON purchases.

Now, there are several ways you can do this, although the exact available methods usually vary from broker to broker. Most are likely to allow you to buy TRON with a credit card, debit card, or even use bank transfer.

However, regardless of which methods are available, you need to keep in mind certain considerations, such as speed, associated fees, as well as which of the available methods you prefer.

Of course, there are other things to keep in mind, such as security. For example, you should make sure that you have the right antivirus software to ensure the protection of your funds. 

Lastly, you should also ensure that your account was, in fact, properly funded before you proceed to the next step.

4. Open a Position to Long/Short TRON

At this point, you should be ready to enter a position, and the first thing you need to realise here is whether you wish to go long or short. 

Traders who are bullish on TRX go long, as they expect that the price of TRON will grow in the future. In other words, they will bet that the price will rise. For this, all that most traders need to do is simply purchase TRX coins and hold them until it happens.

Alternatively, traders who are bearish on TRON's price expect that it will drop moving forward. These are the traders who are not going to buy the asset, but rather use CFDs to bet on a negative price movement. If they are correct, they will earn from the price difference between the moment they entered a position and the moment they closed it. This is what it means to go short.

Platforms like eToro, which we mentioned before, allow you to purchase and own the coin for opening a long position, as long as you plan to go long without leverage.

Doing so allows you to become an owner of the asset, but it also makes it that much more difficult to get your money back if the price starts moving in an unfavourable way. Fortunately, there are certain precautions that you can take for both going long and going short. This is what we call risk management.

For example, there are limit orders, stop loss or take profit orders, trailing stop-loss orders, and alike — all of which were designed to help you minimise your losses and maximise your profits.

5. Close Your Position

We have already established that risk management methods are very important, as they can prevent you from losing money if the price starts moving in a way that is not beneficial. They do this by automatically closing your position if the price goes too high up when you bet that it will drop, and vice versa.

They won't make you go completely automatic, but they do give you a certain peace of mind, as you know that your investment won't be completely lost if you are not in front of a computer all the time, standing guard.

And, of course, you can also close your position manually. You can do this easily if you believe that the price shift is about to start, or if you are satisfied with the earnings that you made. If you are experiencing losses, and you decide that you cannot afford to wait any further, you can do it in that scenario, as well.

And, with that, you now know all there is to know about buying TRON with a broker. All that remains is to choose one and give it a go, yourself.

How to Buy Tron With an Exchange

Just like choosing the right broker is important; the same is true for those who wish to buy or trade TRON with a crypto exchange. Different exchanges, naturally, offer different security of different qualities. They also come with different fees, where some of them may even offer discounts if you use their native coins, or fulfil some other condition. 

It is also important to always choose regulated exchanges, or at the very least trusted ones, which have survived for years in the shifting crypto markets, and which you can trust not to disappear with your funds.

So, with that out of the way, here is what you need to do to trade with a crypto exchange.

1. Set up a TRON Wallet

The first step is to set up a wallet for TRON. There are different types of wallets to choose from, and the biggest difference between the types is security vs convenience. 

Software wallets (online wallets, desktop wallets, mobile wallets), for example, are the most convenient, but also the easiest to hack, since they maintain a constant internet connection. 

Cold storages are the safest, and they come in the form of a small, portable device (or a simple piece of paper, if you choose paper wallet) that doesn't have an internet connection on its own. But, you need to connect them to a computer in order to get to your coins.

2. Choose and Join an Exchange That Sells TRON

Next up, you will have to choose an exchange on which you will buy, sell, or trade TRON. There are plenty of major exchanges that service most parts of the world, such as Binance, Coinbase, or Poloniex

Of course, all of these exchanges have different regulations, requirements, and even the registration procedures might be different. There are also all kinds of key features to keep in mind, so be sure to check them out and see which one of these fits your needs best.

3. Choose Your Payment Methods to Buy TRON

These days, most crypto exchanges offer multiple different methods for buying coins such as TRON. All you need to do is which platform offers the method you prefer, and if everything else regarding that platform fits — it will likely be the best option for you.

However, when choosing a method, you need to keep in mind things like the time needed for transactions to get processed, the cost of said transactions, as well as convenience of the payment method itself.

Debit cards are great because they won't let you spend the money you don't have, like credit cards. Credit cards, on the other hand, let you buy more coins than what you can afford to pay with the money you own currently.

Bank transfers are the cheapest, but they last the longest amount of time.

4. Place an Order to Buy TRON

How to buy TRON via an exchange is very simple, and usually quite fast. All you need to do is select the coin you wish to buy, enter the desired amount, and choose your payment method. You will see how much it will cost you to buy this amount, and then you can decide whether to go through with the transaction.

That is pretty much all there is to it, and doing so will secure your coins inside your exchange wallet.

5. Safely Storing Your TRON in a Wallet

As mentioned, exchanges are not the safest place for storing your TRX long-term, as they can be hacked. This is why you should always store the coins you don't plan on using soon in a safe wallet.

The procedure is quite simple here, as well. You start by going to the wallet and copying its address. Then, you go back to the exchange and proceed to the withdraw screen, where you will enter the wallet address, and withdraw your funds. This is an optional step, best suited for long-term investors.

Should You Buy or Trade TRON?

One thing to note is that there is a difference between buying and trading TRON. Doing so via brokers is also not the same as doing it on exchanges, so make sure to plan out your strategy thoroughly before moving forward.

What's the Difference Between a TRON Exchange and a Broker

When it comes to exchanges, they allow you to exchange cryptocurrencies for one another. Basically, if you have one coin and you want to get TRON, you can do that on an exchange. You need to watch out for exchange rates and fees, but they are often quite similar.

Meanwhile, if you want to earn money by exploiting the volatility of crypto, you will likely be better off choosing a broker. They let you use CFDs that allow you to make a profit even when the coin's price drops. Meanwhile, you don't have to actually own the coin here, while you must have it on exchanges.

Long vs Short Term Investment

A long-term investment in TRON would include buying a certain amount of coin and then storing it in a private wallet. After that, you can simply forget about it, and wait for years until its price is high enough.

Short-term investments can last anywhere from minutes to weeks, and they are based on your expectation that the price will move favourably. Basically, as soon as the coin's price moves in a way that you would profit by selling, you can sell, or wait to see how far it will go to make the most out of the move.

3 Tips to Buy TRON

There is a lot to keep in mind when buying each individual crypto, but some things remain constant, so here are our top 3 tips for TRON.

Choose the Right Time and Do Your Own Research

You should never buy coins just because someone else said it or did it. Do your own research and learn everything you can about it, first. As you do, you will also learn how the price moves, and be able to deduce when is the right time to buy.

Comparing Costs to Buy TRON

As you may know, different platforms offer different fees, prices, and even trading pairs for TRON. This is why you should check out several of them before deciding which one will let you get away with the biggest amount of money.

Safety and Security

Safety and security are the most important things when working with any form of money, including cryptocurrencies like TRON. You should always set all the security measures possible, including things like two-factor authentication, and a private wallet, as mentioned.

What Is the Best Payment Method for Buying TRON?

  • Buy TRON with Cash

  • Buy TRON with Credit Card

  • Buy TRON with Bank Transfer

  • Buy TRON with Bitcoin

  • Buy TRON with PayPal

Other Ways to Buy TRON

While the methods mentioned above are the most common ways to get your hands on some TRX, there are alternatives. For example, you can try mining it, getting it through airdrops or as staking rewards, buying it via ATMs, or running a masternode.

As you can see, there are plenty of different methods for you to choose from and decide what is easiest for you to do.

Frequently Asked Questions

  1. There is no right or wrong time to buy TRX. Generally, you will probably want to buy coins when their price is low and sell them when it goes up, but it is entirely your choice.
  2. You can hold them in your wallet, use them in TRON's ecosystem, trade them for another coin, or sell them and withdraw fiat currencies.
  3. Yes, TRON is available on most exchanges out there, and you should have no problem buying it with fiat or crypto.
  4. Yes, TRON is a reputable and well-known cryptocurrency that has just a reputable team and CEO behind it, as well as plenty of use cases, and a well-developed roadmap.
  5. Yes, it is perfectly legal to buy and own TRON, although you may not be allowed to use it as a payment method in some regions.

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