Best Tron Wallet 2021: The ultimate comparison
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For this reason, we present the different options in this Tron Wallet Test, go into the advantages and disadvantages, take a look at the TRX Wallet fees and also report on our Tron Wallet experiences that we made during the test.
What is a Tron Wallet?
The founder, Justin Sun, is said to have very close contacts to the founder of the Chinese internet giant Alibaba, which is why Tron was already in play at Alibaba as a payment method - but it has not (yet) been implemented.
Icon 18The fact that Tron ranks third among active wallet addresses (behind Bitcoin and Ethereum), but is just below the top 20 in terms of market capitalisation, also shows that TRX is undervalued, could have a future and that looking for a suitable Tron coin wallet can therefore be worthwhile.
The TRX Coin is currently (as of February 2021) worth around 0.05 USD. It has thus already broken free by around 500% from its 52-week low (approx. 0.01 USD), but is still more than 80% below its all-time high (0.30 USD). There is therefore potential, so it may be worthwhile to create a Tron Wallet.
Tron Wallet Comparison: Different Wallet Types
To find the best TRX Wallet, we took a close look at various providers and wallet types in our detailed Tron Wallet test. In the following, we report on some of the favourites as well as our Tron Wallet experiences.
Tron Desktop Wallet
Desktop wallets are considered a popular form of storage for TRX Coins and cryptocurrencies in general, as they represent a mix of good usability, relative security and sufficient functionality. However, one must always pay attention to the fees here, because while the wallet itself is free of charge, fee-intensive interfaces are often used - including for buying Bitcoin or Tron.
One of the best Tron desktop wallets is Exodus, which also scored well in our detailed Exodus wallet test. It combines the advantages mentioned above, supports the TRX Coin and is therefore a sensible option for creating a Tron desktop wallet.
Similarly, there is the option to download a TRX Wallet from the official Tron website. However, this is only recommended for advanced users of cryptocurrencies, as some technical knowledge is required.
Our test winner eToro also does very well in the Tron Wallet test, especially due to the low trading fees, the licence regulated by the financial supervisory authority and numerous security measures. eToro is thus ideally suited as an online version for a TRX Wallet. Furthermore, which is not possible with some of the other wallets presented.
Art | Hardware wallet | Online wallet | Desktop wallet | Smartphone wallet |
|---|---|---|---|---|
How easy is it to use? | medium | very good | very good | very good |
How high are the acquisition costs? | very high | low | low | low |
Is the wallet secure? | high | high | medium | medium |
Do I have access to customer support? | medium | very good | medium | very good |
Set up Tron Wallet: This is how it works!
Using eToro as an example, we would now like to explain how best to set up a Tron Wallet. Especially for beginners, eToro is an easy, cheap and safe option to store and trade TRX Coins. Thus, it is one of the best alternatives from our detailed Tron Wallet Test.
Step 1: Registration
Anyone who wants to create an eToro Tron Wallet must first register with eToro. The registration is very simple with name and email address. Afterwards, the data is verified, although it is already possible to buy Tron without verification, but only for smaller amounts.
Step 2: Tron Wallet App Download
To complete the Tron Wallet setup, you now have to go to the Google Play Store or the App Store. Here you can download the eToro Wallet App. After successful installation, you log in with the data you entered during registration (username and password).
With this process, you can not only set up a Tron wallet, but also a crypto wallet for 15 other currencies. In addition, eToro offers the possibility to trade stocks free of charge, to trade at favourable spreads and to participate in forex trading.
Step 3: Use the eToro Wallet App
After the wallet download and also verification is complete, the eToro app is available for trading, buying, selling and storing Tron Coins and other cryptocurrencies.
Those who prefer to use a desktop version at eToro can also do so, as both the app on iOS and Android and the desktop option for trading Tron are synced with Chrome or other browsers.
Best Tron Wallet
Let's now take a look at the categories that a good Tron Wallet should fulfil:
Features
Each Tron Wallet has its own features & specifics. While there is not THE one particular TRX Wallet, we will go into the features of our test winner eToro as part of our in-depth Tron Wallet test. To this end, we have also described above how to create and set up an eToro Tron Wallet.
In general, eToro is perfect for those who want to buy more than just Tron Coins. Thanks to the decent selection of cryptocurrencies and the many other assets, eToro is one of the most interesting providers where you can get almost all asset classes from one source at the lowest fees.
Compatibility
A Tron Wallet at eToro is compatible in a variety of ways. Firstly, coins can be sent and received from the eToro crypto wallet TRX to and from all other Tron wallets. Secondly, Tron Coins can be exchanged directly on eToro for around 15 other cryptocurrencies at low fees.
A Tron wallet at eToro is also compatible with various PCs (different operating systems and browsers) as well as mobile with iOS and Android.
Ease of use
Thanks to its long time on the market (already founded in 2007) as well as its focus on trading beginners and investors without any technical knowledge, an eToro Tron Wallet is very user-friendly. Both the desktop wallet and the Tron mobile wallet are clearly structured and easy to use. It also integrates seamlessly with eToro's other asset classes.
Security
Since eToro has security systems that have been tried and tested over many years, a separate backup is not absolutely necessary. However, if you want to be completely on the safe side, you can transfer your TRX Coins to one of the Tron hardware wallets presented above. Thanks to the licence, the Tron coins and the other asset classes are also safe with eToro.
Customer support
eToro has extensive customer support that can be reached via live chat, contact form, telephone or even via the app. This goes far beyond what other wallet providers offer. These are often only reachable via contact form. Thus, from our Tron Wallet experience, eToro provides a very comprehensive support. This is practical for all those who want to buy Tron Coins.
Which coins can be held in Tron wallets?
If you get a pure Tron wallet like the one on the official Tron website, you can only store TRX coins in most cases. According to our Tron wallet experiences, this is often impractical, as you usually hold several coins and do not want to download a separate wallet for each cryptocurrency.
For this reason, we recommend a wallet - whether a TRX online wallet, a Tron Wallet Ledger or a desktop wallet for Tron - that is compatible with multiple cryptocurrencies. For example, eToro offers 16 different cryptocurrencies, including many of the top 20 coins.
On crypto exchanges such as Binance, well over 100 cryptocurrencies can be traded, including Tron.
Cryptocurrency tron blockchain technology world background vector illustration
How much are the Tron Wallet fees?
The opening and management of a Tron wallet at eToro is free of charge, and there are also no fees for the deposit. eToro also does not charge any Tron fees for purchases and only finances itself via the spread. This is relatively high at 3.5% for the TRX Coin, so eToro is certainly not suitable for daily trading of Tron.
Nevertheless, eToro is interesting because other cryptocurrencies such as Bitcoin can be traded with a spread of less than 1%, as well as free shares, ETFs and much more. Likewise, eToro clearly beats other wallets in the Tron Wallet Test, some of which collect over 5% in Tron fees and spreads.
However, if the Tron fees at eToro are too high for you, you can take a look at the eToro Tron Wallet alternatives, for example at crypto exchanges such as Kraken, crypto.com and Binance. These usually offer spreads of less than 1%, which is particularly suitable for day traders.
Tron Wallet advantages and disadvantages
We have already explained the pros and cons of the different wallets such as the Tron Desktop Wallet, a TRX Mobile Wallet or a Tron Coin Hardware Wallet within the framework of this Tron Wallet Guide in the section on the different types of wallet. It is advisable for everyone to make their own needs analysis in terms of wallet security, trading fees and ease of use and then decide on one of the options. Everyone has different needs, which is why there is no one perfect TRX wallet.
In this detailed Tron wallet test, however, eToro in particular stands out as an interesting Tron wallet alternative. Those who choose eToro can benefit from the following advantages and disadvantages according to our Tron Wallet experiences:
Advantages
Disadvantages
What are the Tron Wallet alternatives?
In this Tron Wallet Review, we have already mentioned numerous Tron Wallet alternatives. In addition to the classic desktop, hardware and mobile wallets, it is particularly worth taking a look at the crypto brokers, as they offer many services from a single source and thus save the investor time, effort and money.
We have already presented a crypto broker for TRX Coins with eToro in this Tron wallet test, but there are also other Tron alternatives. IQ Option, for example, is another broker where Tron can be traded. Active on the market since 2014, it is not as established as eToro, but can still be an alternative for all those who want to buy Tron cheaply.
Conclusion of our Tron Wallet experience
Tron is a long-standing player in the crypto market and has always been represented in the top 30 cryptocurrencies. Therefore, the more the digital financial instrument establishes itself as a form of payment, the more important the search for a suitable Tron Wallet becomes.
In this Tron Wallet Review, we have presented some of the options. Fans of hardware wallets should take a look at the Ledger wallets that are compatible with Tron. Day traders can trade at Binance with favourable spreads and occasional investors as well as beginners in the crypto market are best off with eToro. eToro convinced in our Tron Wallet Test due to the easy usability, the secure platform as well as the very good customer support.
Although TRX wallets are also issued directly by Tron, they tend to play a subordinate role as a Tron wallet alternative due to the somewhat difficult usability and the necessary technical knowledge. If you are looking for an easy-to-use desktop wallet with a wide range of functions, you should look at Exodus, although it is also advisable to take a look at the spreads of over 2%.
Top Tron Wallet 2021: eToro
For this reason too, as well as the combination of regulation, security, usability and customer support, eToro remains our Tron Wallet test winner, although there is no one unbeatable TRX Wallet. It is therefore worth comparing!
Key Features:
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FAQ
A Tron Wallet is a storage facility for TRX Coins, the cryptocurrency of the Tron network. The Tron Wallet can be used either as a desktop wallet, hardware wallet, browser wallet, mobile wallet or paper wallet.
Depending on the preferred form of the Tron Wallet, the way it works varies greatly. With our test winner eToro, a simple registration and verification is sufficient to be able to subsequently buy Tron online and store them in the Tron Wallet.
The basic idea behind Tron is decentralised management, so that every user continues to be the owner of their data. Nevertheless, you should also take care of the security of your own PCs and mobile devices in the form of firewalls and anti-virus programmes in order to protect your Tron Wallet accordingly.
